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Why you need travel insurance




Travel insurance is one of the most overlooked types of insurance. In some parts of the world like Asia and Africa, insurance as a whole is seldom considered important in any way, instead, insurance and its agents are treated with skepticism and apathy. In other parts of the world like Australia, South America, North America, and Europe, the concept of insurance is grossly welcomed. Perhaps, this is due to the professionalism of the practice and advanced knowledge in these parts.

Travel insurance is a type of insurance that focuses on covering contingencies that may occur during travel time including medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally, or domestically. Travel insurance seeks to compensate the insured traveler for these incidents that may or may not occur due to travel.

Travel insurance

Overseas travel insurance provides complete protection, as well as a sense of security, while you are on a foreign land. The premium for travel insurances are often about 5%-7% the cost of trips, although fees vary with age and medical history. Money polices include coverage for children with no extra charges. 

Travel insurance can cover medical expenses; medical treatment, including transportation to the medical facility. The policy also covers trip cancellations in the sense that, if one has already paid for a trip and needs to cancel for one reason or the other, travel insurance may cover trip cancellation and trip interruption for the pre-paid or non-refundable portion of transport fare.

Illustration depicting a sign with a travel insurance concept.

However not all policies cover trip cancellation. Also, if the insured traveler losses his/her checked luggage, the policy will cover this loss and provide equal compensation. Travel insurance may also provide travel assistance services which will ease the process for the insured. Some of which include booking and payment. Travel insurance can also cover for disruptions to your trip; these disruptions are much out of your control and can end up costing you a whole fortune.

Travel insurance also helps ease your mind as you relax and enjoy your trip. The thought of knowing you have protection in case of any mishaps is so refreshing. Travel insurance has different policies and specific benefits, inclusions, exclusions, exceptions and limits. It should be noted that not all travel insurance is the same. It is very important to take time to read the policy wordings carefully to know what you are paying for.



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