By Mark T James
Travel insurance is a small price to pay for peace of mind when travelling overseas. Just because you're on a trip of a lifetime doesn't mean you are immune from bad luck. Poor health, theft, loss and fraud can happen to anyone at any time. Travel insurance is not only something that families or the elderly need to be concerned with, bad luck and medical emergencies can happen to young, fit independent travellers as well.
Unfortunately not all travellers can see the benefit of taking out insurance. But this is a big mistake because in the worst cases this can lead to long-term financial problems and result in the need to sell of assets or dip into superannuation.
Before you travel, consider these five reasons why taking travel insurance is must-have for all travellers and holiday makers.
1) Medical
According to the Australian government, each year Australian Consulates sees 1,200 cases of hospitalisation, 900 deaths and 50 evacuations of overseas travellers. When victims of bad health or bad luck are not insured they must wear the cost of medical help in foreign countries. This can be extremely costly.
Hospitalisations in Southeast Asia often reach $1000 per day. Medical evacuations from the US can cost up to $100,000.
2) Loss
Whether you lose your baggage at the airport or get a wallet stolen in the streets of a foreign country, travel insurance may cover the cost of stolen or lost items. Not being close to family and friends for help or not being able to communicate because of language barriers may add to your distress. Knowing that your losses are covered by insurance will certainly ease your frustration in such cases.
3) Flight Cancellation
When a flight gets cancelled, the least you will suffer is stress. However, cancelled flights can often lead to much worse than stress. A cancelled flight can lead to missing connecting flights and transfers. Cancelled flights can leave you stranded unexpectedly and you may need to stay over night or many nights. Cancelled flights can also lead to you missing a night or more of paid accommodation at your destination. travel insurance may cover the costs of all of these scenarios. Flight cancellations are not uncommon, and so it seems that this reason alone is enough to take out some basic travel insurance.
4) Acts of Nature and Terrorism
In times gone by, many insurance companies would not cover this scenario. However, today there are many companies that may cover any costs incurred due to acts of nature such as typhoon, earthquake or hurricane. They may also cover you for any cancellations or costs associated with acts of terrorism.
5) Personal Circumstances
The final reason to get holiday insurance is a simple one, and one that can occur even before you leave home. If you get ill or suffer from an extreme personal situation, such as death of a loved one or medical emergency, then your travel insurance may cover any costs associated with cancellation or postponement of your holiday plans.
Travel Insuranz offers travel insurance you can rely on with secure online transaction and instant email certificate. So all you need do is relax and enjoy your trip. For more information or a free quote, visit Travel Insurance Online.
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