One of the important steps in planning a perfect trip is to procure a travel insurance. This step is vital for both domestic and international trips that can be either for business reasons or leisure. Many do not realize the importance of buying a travel insurance. It is the best safety net that safeguards you against all sorts of possible unforeseen medical contingencies and other travel-related mishaps that can easily disrupt your trip and turn it into a nightmare. Here, we walk you through some of the important benefits and coverages offered by travel insurance that highlights its importance.
- Medical emergencies
Medical emergencies are a totally unpredictable situation. Despite taking all kinds of precautions, one might easily find themselves in a situation that leads to medical emergencies which not only requires a doctor’s help but might also need hospitalization. The situation can be further aggravating when one is on an overseas trip as medical cost and hospitalization cost can be exorbitant there.
A travel insurance can be a life savior here. It reimburses you the medical costs incurred overseas for your treatment, thereby preventing your financial drain. In case you need hospitalization; not only is the cost covered by you might also be able to avail of the cashless hospitalization facility if your insurer has that facility.
- Loss/delay of luggage
While on a trip, your luggage has only the essentials that would help you stay comfortable during the trip. It spans to a comfortable amount of clothing, essential toiletries, emergency medicines, important documents, money, tickets of the further destination, etc. Your entire trip can go haywire if your baggage is delayed or lost and can ruin your trip completely. But you can avert the disaster with Travel Insurance as it pays you to procure the essential items and continue your trip uninterrupted and in comfort in case of baggage delay. You are also reimbursed for a complete loss of luggage.
- Trip cancellations
Very rarely does one embark on an instantaneous trip. Plenty of planning and money is invested in planning a trip. You book your flight ticket, accommodation, tickets to much-in-demand tourist spots, shows, etc. in advance. Many of these tickets are non-refundable. But emergencies like a sudden medical issue, death in the family, business or job emergencies and other such serious situations might require you to cancel your trip even before it started. This can also take place while you are already on your vacation and need to terminate it midway.
Both scenarios mean a huge financial loss. But you get reimbursed for your loss under a travel insurance plan. The saving and stress relief can be huge here.
- Hijack/distress allowance
The threat of hijack simply cannot be ruled out if you are flying to your vacation destination. Modern travel insurance covers this risk. In case your plane gets hijacked, it pays you compensation for each day of being held hostage up to the amount specified by the policy.
- Home burglary allowance
Your home is highly vulnerable to theft and burglary with you being away. But travel insurance offers you protection for it as well. In case, your house falls prey to such deeds; you are reimbursed for the lost valuables according to the terms and conditions of the policy.
- Compassionate visit of relatives
In scenarios where the insured is seriously injured and hospitalized; a travel insurance provides reimbursement for the visit of a relative to the insured. It might look light but is a god-send when the crisis hits and one is mentally and health-wise broken and dejected in a hospital.
- Miscellaneous
The list of benefits offered under travel insurance is exhaustive. It offers personal accident cover, compensation for death or permanent/temporary disability, repatriation and funeral cost reimbursement cost in scenario of unfortunate death; monetary assistance in case of stolen money and several other benefits.
Wrapping up
Many deem travel insurance as an unnecessary expenditure but the investment is trivial given the wide expanse of beneficial coverage it offers. None of us ever wish that come to a situation where we would need to use our travel insurance. But none can guarantee a happy situation every time. A travel insurance gives you the necessary protection and mental security. With a plethora of travel insurance available; you are sure to find one that suits you to the tee. Hence, you must never skip on purchasing travel insurance for any of your trips.