Seven Facts About Travel Insurance

Regardless of whether it is for work or play, travel can be exciting, but prior to your departure it can seem that there is just so much to do. Of course people focus on the ‘essentials’ of their trip – seats on a plane, train, or other mode of transport, accommodation, any required visas and possibly the activities that will be enjoyed and undertaken at your destination. Unfortunately, too many of us overlook or ignore the need for travel insurance.
It seems that for some people, travel insurance is ‘just another expense’. There is no denying that travel can be expensive, but travel insurance need not cost the earth. Cheap policies are available and increasingly, insurance companies offer policies that allow you to be covered for what you need and less of what you don’t.
Perhaps some people’s resistance can also be explained by confusion about t. The word ‘insurance’ can cause people’s eyes to glaze over in the same way that the words: taxation, superannuation and mortgage criteria can. Here we give a range of facts about this kind of insurance that will help even the most seasoned traveller to understand what it is and why it is so important.
Fact #1: Travel insurance can be thought of as a safety net should things go wrong or undesirable things happen on your trip. Travel-related risks are covered by it.
Fact #2: If you do not travel with a cover, you run the risk of being inconvenienced (as well as financially disadvantaged) by: cancellations, emergencies and accidents, theft and loss of your valuable items, delayed and missed flights and medical evacuations. All of these are major things to happen and are just a handful of examples of things that can go wrong while travelling.
Fact #3: Different types of travel insurance policies exist and range in their coverage. Not all policies are the same although they may appear identical. It is vital that travellers read the fine print and understand the detail; this will assist them to choose a travel insurance policy that is most appropriate for their needs.
Fact #4: The most common types of travel insurance are: standard; multi-trip or annual, cruise, family, backpacker, group and business.
Fact #5: There is no fixed price for travel insurance, the cost of your policy will depend on a number of variables. The price that you pay will largely be determined by the type of plan, the amount of coverage that you need, where you are travelling to and your age.
Fact #6: It is possible to get cheap travel insurance that still offers comprehensive and good quality cover. To find a policy that fits within your budget and your needs, it is necessary to compare travel insurance prices but as you do so, be mindful that you are not comparing like with like – there can be an incredible amount of variation between companies and the policies that they offer. This is yet another reason why you should read and understand the fine print and conditions of different policies.
Fact #7: It should be purchased and the time of or immediately after paying the deposit on your trip. It should definitely be in place before you finalise the full payment of your trip.
Travel can be expensive and costs can arise in places where you least expect them…travel costs are not all plane fares and spending money. While it can be expensive to travel, experiencing a medical emergency or having your trip cancelled will cost you even more – financially, emotionally and otherwise.
Travel insurance is imperative for every traveller. It should never be overlooked or ignored in an effort to save money or because a traveller does not think it is necessary. While you will hopefully not have to use it, having it in place provides security and peace of mind that you are protected should anything serious go wrong.

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