Here are eight reasons why travel insurance should be a part of your holiday budget
1. You might need medical treatment
Whether you plan on trekking, driving, cycling, diving or simply wandering around the streets, accidents can happen. And if you need medical treatment overseas the costs can range from the hundreds into the thousands, even for something as simple as a couple of stitches, a broken finger or food poisoning.
2. What if your baggage is lost, stolen or delayed?
Lost, stolen or delayed possessions can hamper your holiday fun – and often means you’ll need to fork out to replace your absent belongings and valuables.
Travel insurance can compensate you for your inconvenience and your losses, so that you’re not left down on cash thanks to an airline or carrier’s mistake, or a thief’s schemes.
3. You may need to cancel
Falling ill or dealing with an emergency can force you to cancel your trip. In some cases, airlines, accommodation suppliers and tour operators will offer you a refund. But this isn’t always the case
Travel insurance can reimburse your flight, accommodation and other costs in this instance – meaning you get your money back, even if you unexpectedly cancel at the last minute.
4. Unexpected trip changes can be costly
Trip delays, disruptions and even curtailments can all be out of your control. You can miss port calls, accommodation check-ins and even tour take-offs.
Under most car rental policies, you’re liable to pay an excess if you get into an accident – the same way you would if you have a car accident back home. This potentially means your accident can cost thousands. If your travel insurance package includes a rental car excess waiver, however, it can cover the excess for you, potentially saving you lots.
6. You love skiing! (and other winter sports)
Participating in adventurous winter sports and activities may be great fun, but it also puts you at a much greater safety risk. Travel insurance can cover your medical treatment (as described above) if you get into an accident, and it can also cover things like damaged or lost sports equipment and ski passes, losses due to resort closures and medical evacuations.
7. What if you’re on a business trip?
It’s highly recommended for business travellers to take out travel insurance for any trip they take – after all, who wants to be personally liable for business mishaps?
In terms of equipment (like laptops, phones etc.), you can check out what’s covered in the “belongings” component of your travel insurance policy. However, it can also be better to upgrade to a business package (if offered), which can often cover you more comprehensively for risks to your business equipment and/or cash. Elements like emergency courier costs or replacement support staff can also be coverable.
8. You’re a frequent traveller
Travelling more frequently throughout the year is even more of a reason why you need travel insurance!
Multi-trip packages can save you money and can cover you for a whole year’s worth of travel. When searching for a multi-trip insurance deal, ensure you are covered for all potential destinations with the best level of cover for your needs. Don’t forget to read the terms and conditions too!