Why Do I Need Travel Insurance?

“Why do I need travel insurance?” You’ve booked your trip, prepared your itinerary and you’re all set. You ask yourself “Why do I need travel insurance?” The simple answer is because not everything always goes as planned when you travel. No matter how carefully you plan your trip, something unexpected might come up. You might have to cancel your trip for a number of reasons or run into some unexpected expenses during your trip.

It is always best to have an emergency fund for unplanned situations. Travel insurance might benefit you as well.

Travel Insurance is a type of short-term insurance policy. All you have to do is plan your vacation and purchase a policy that would cover a number of scenarios that could come up during your trip. You can choose between different plans or buy a customized policy in the amount of coverage you want.

Consider these advantages of travel insurance:

1. Trip Cancellation

The main advantage of buying travel insurance is that you’ll get your money back if you have to cancel your trip. Travel insurance usually covers the entire cost of your trip if there is a death in your family, if you or a family member becomes ill, or if you lose your job. The scenarios covered depend on the amount of coverage you buy.

2. Medical Expenses

Travel Insurance also covers medical expenses. This could be very beneficial if you don’t have a health insurance policy. Also, if your current policy wouldn’t cover you in another state. Read more about Retiree Health Care Coverage Overseas.

3. Dangerous Activities

You can buy additional coverage if you plan on practicing dangerous activities. This is important if you plan on going skiing, mountain climbing, hiking, or want to try an extreme sport for the first time.

4. Repatriation

Repatriation is included in most travel insurance policies. This is another one of the main reasons why this type of coverage might be needed while you’re traveling. Having to buy a plane ticket home at the last minute if you’re ill or injured could be very expensive. Which makes buying insurance well worth it.

5. Travel Insurance covers Lost Luggage

You can also insure your luggage and it’s not uncommon for luggage to get lost or stolen. You could actually lose some valuable items such as your laptop or digital camera.

6. Customize your Coverage

The exact amount of coverage depends on the policy you purchase. Assess which risks you need coverage for. Where are you going and which activities do you have planned? There is no need to buy insurance that includes coverage for medical expenses if your health insurance will cover you while you’re away from home.

7. Peace of Mind

Buying travel insurance is not very expensive and it can really save your vacation. You can rely on your travel insurance policy to cover the unexpected expenses. You’ll find that your trip is a log more enjoyable with the peace of mind of having insurance.