7 Reasons why Saving on Travel Insurance is a Bad Idea

The biggest question that many people have when planning their international travel is whether to buy travel insurance or not. There are plenty of people who travel without any insurance coverage, however, it is not a good idea to do so. Here are the top 7 reasons why:

1. A medical emergency is the most important reason why you need to get travel insurance coverage. Medical evacuation is usually the first step taken in case of a medical emergency. You will need to be moved from where you were taken ill or were injured to a medical facility where you can be treated. It is also the first expense you have to bear in a medical emergency.

The next cost in a medical emergency can be repatriation, where you have to be flown back home. And this cost can actually leave you with a big hole in your bank balance. Worse still, if you have to be treated abroad, you may even end up totally broke.

2. Last minute trip cancellations are a reality. The world is an uncertain place, where events such as the weather or other natural disasters, civil unrest, an outbreak of a disease or even terrorist attacks may put an end to all your travel plans. If you already bought travel insurance, then you don’t need to worry. The loss you would have incurred due to a cancelled trip will now be covered by your insurer.

3. Thefts and losses during travel are a common occurrence nowadays. Travel insurance will provide you some measure of protection against such losses.

4. Losing your travel documents is a possibility and can leave you stranded. While you can go to your local embassy to get replacements, it will cost you a lot of money, especially if it is your visa that has gone missing. This is where travel insurance can help you cover costs.

5. A very unpleasant reality is if you die when travelling abroad. It is an ugly thought but it does happen — more frequently that you could ever imagine. In this case, it is your family that would have to bear the cost of bringing you home, unless you are covered by travel insurance.

6. Another consideration that you must keep in mind is that your existing health insurance plan may work when you travel abroad.

7. Another reality of international travel is a missed connection. Out of the 1.1 million flights in 2017, 18% were late and another 2.4% were cancelled. Another statistic is that 80% of US flights are on time. Therefore, the chances of you missing a connection are quite high.

A lot of times people don’t buy travel insurance because it is expensive and confusing. This is actually no longer the case. You actually have online sites which offers its customers economy travel insurance. This means you get all the coverage you need at the price you want — in a matter of minutes.