5 Reasons You Never Knew You Needed Travel Insurance – why you’ll regret skipping out on travel insurance
Similar to renter’s insurance, traveller’s insurance may seem unnecessary to some folks… until your trip goes south, and you’re left regretting the decision.
While the cost varies from company to company, travel insurance plans generally include medical, trip cancellation, security or medical evacuation insurance. While your regular health plan will probably not include emergencies or services outside your origin country, it’s smart to purchase single trip travel insurance when going on vacation.
Reasons Why You Should Buy Travel Insurance Before Your Next Trip
Travel insurance will not help you avoid any misfortunes during your travels, but it does offer some consolation in the form of monetary compensation for your inconvenience. Here, we are going to take a quick look at the five reasons why you are going to regret trying to save on your travel insurance the next time you take a trip.
1. Flight Interruptions or Cancellations
No one really knows what will happen before you depart for another country. One of the first benefits of taking out travel insurance, whether it’s annual travel insurance or another policy, is that it allows a person to cancel a trip and get a refund of the cost of the trip.
Travel insurance offers much needed protection against trip interruptions or cancellation. For example, when an emergency arises and a traveller has no choice but to cancel their trip or cut it short—be it for sickness, death, jury duty or some other reason—the traveller has the right to receive compensation for their expenses.
Since the traveller already paid for their vacation and will lose their money if such an emergency occurs, travel insurance cushions the blow of any losses that result from a trip cancellation. Moreover, cancellation coverage provides protection from the purchase date through the departure date. With cancellation coverage, it’s no issue if you need to cancel your trip before departure. You’ll still receive all other insurance benefits from the departure date through the end of the trip date.
2. Annual Travel Insurance
For the frequent flyers, an annual travel insurance policy can give you some peace of mind. It’s good to know there’s a policy in place that will protect you during all your travels throughout the year.
An annual travel insurance policy is ideal for those last-minute bookings, family holidays, important business trips, or weekend vacations.
It should be noted that a person is not allowed to take out annual travel insurance if they plan on traveling to any known high-risk regions.
3. Personal Effects and Luggage
Taking out travel insurance means you are covered for any lost or stolen personal belongings during your trip. For example, if your luggage is delayed for more than 12 hours and you are in need of a fresh set of clothes in the country where you’ve just arrived, your travel insurance will reimburse you for those costs.
That said, the expenditure should be in moderation, and certainly does not include a $4,000 suit, a designer handbag, or any other expensive items! These reimbursements are put in place to make sure a traveller is not put in an uncomfortable situation by arriving earlier than their baggage in a foreign country.
Moreover, a single trip travel insurance policy with baggage coverage can offer protection if a traveller’s personal belongings are lost, damaged or stolen. Baggage coverage is also included in annual travel insurance. For more details, contact your local travel insurance provider.
4. Extra Stay Expenses
If a doctor tells you to stay in a country for more days than planned due to medical reasons, a travel insurance policy can also include the costs of additional expenses, such as accommodation. The travel insurance can also cover the extra cost of travel and accommodation of one relative who needs to stay with you, if necessary.
Most travel insurance plans will not cover any pre-existing health conditions. However, if you get sick due to a non-pre-existing medical condition while on the road, travel insurance will cover all or part of the costs (depending on the travel policy you’ve signed up for). Some extended stay or extra stay travel policies can protect you for up to twelve months. For cruises, health insurance may not cover you if you’re traveling on a foreign-flagged ship.
5. 24/7 Worldwide Phone Assistance
Another benefit of taking out travel insurance is the lifeline it provides travelers in emergency situations abroad.
Travel insurance plans include 24/7 phone assistance when you need to call someone if something happens while you’re on a business trip or vacation abroad. This service is crucial to have when you have a medical issue. The 24/7 travel assistance service can help you:
- Locate the nearest hospital if you are hurt or injured, and need medical attention.
- Organize emergency transportation home.
- Organize emergency medical transportation.
- Replace any medical prescriptions during an emergency.
- Overcome the language barrier, which can hinder your ability to find help in an emergency situation when abroad.
You may also need non-medical assistance, which can include:
- Lost baggage or stolen baggage replacement assistance.
- Assistance with lost passport or other travel documents.
- Emergency travel information for passport or visa requirements.
Apart from that, travel insurance can also provide coverage for situations people mostly don’t expect to find themselves in while traveling abroad, such as injuries due to hazardous sports or identity theft.
A final note – Why You Should Buy Travel Insurance Before Your Next Trip
One final point to sign off with: if you hire a car while traveling abroad and it’s stolen or you have an accident, your travel insurance will pay for the rental vehicle excess.
Many people think that travel insurance is just health insurance, but it’s so much more than that. Travel insurance can help costly fees incurred due to medical or other emergencies, keeping you safe from stress while you enjoy your time abroad.
Allianz Global Assistance is a world leader in the travel insurance and assistance industry since they help people with all kinds of travel problems, from small – like a missing suitcase or trip delay – to major, such as medical emergencies overseas. More than 13 million travelers trust them every year to protect them while they’re far from home.
Allianz Global Assistance travel insurance products are designed to cover every kind of journey: student travel, family vacations, weekend getaways, luxury cruises and more. While benefits vary by plan, all include 24-hour hotline assistance. A hotline team of multilingual travel experts helps travelers facing all kinds of dilemmas, including medical emergencies, lost passports, missed connections and more.
If you’re a budget-conscious traveler who’s traveling in the U.S., you may like the OneTrip Cancellation Plus Plan. It includes trip cancellation, trip interruption and trip delay benefits.
If you want protection in case of medical emergencies overseas, but you have few pre-paid trip expenses, you may consider the OneTrip Emergency Medical Plan. This affordable plan includes emergency medical and emergency transportation benefits, as well as other post-departure benefits, but not trip cancellation/interruption.
If you want the reassurance of carrying substantial travel insurance benefits, the best fit may be the OneTrip Prime Plan. This plan also covers kids 17 and under for free when traveling with a parent or grandparent.
If you’re planning several trips in the next 12 months, consider annual travel insurance — like the AllTrips Prime Plan. It gives you affordable protection for a full year of travel, including benefits for trip cancellation and interruption; emergency medical care; lost/stolen or delayed baggage; and the Rental Car Damage Protector (available to residents of most states).
Find the right travel insurance plan for you