It is so important that you feel secure and safe when you travel, and when it comes to peace of mind there are few things which will give you as much as travel insurance. Obviously we would all hope that nothing goes wrong during our hard-earned vacation time, but anything can (and unusually does) happen so it’s wise to invest in a safety net for you and your loved ones.
Should you find yourself stranded, injured, lost, you lose your suitcase, have something stolen, or you are caught unawares by cancelled bookings travel insurance can take the sting out of it by ensuring that, at the very least, you’re not left out of pocket by it all.
Obviously it would be best if you did not need your travel insurance at all, but it is better to be safe than sorry!
What Should Be Covered in your Travel Insurance Policy
The most important thing must be making sure that you’re getting insurance which covers you in all the ways you need it to. If we were to make a list of must haves for your policy it would go like this:
- Personal injury and accident cover must be included.
- Coverage in case you should need to cancel any arrangements at the last minute due to illness, accident, family emergencies, etc.
- Cover that is active in the country you’re visiting (this is a more common omission than you’d expect).
- Coverage for any cancellations made due to trouble or upheaval in the country you’re visiting, and provision for emergency evacuation and care should you need it. $300,000 USD worth of cover in this case would be ideal.
- Higher levels of coverage for medical expenses in the case of injury or illness. At least $100,000 USD worth is recommended.
- 24/7 emergency assistance; imagine being told to call back later in an emergency!
Alongside these basic essentials you should consider the following:
- Coverage for your electronics (most basic plans and policies offer very limited coverage for such goods).
- Comprehensive cover for your property (suitcase, cameras, jewellery, etc) in case of theft, damage or loss.
- Financial protection should the company insuring you go bankrupt while you’re away on vacation.
What Isn’t Covered:
What’s really key, however, is that you understand what isn’t actually covered by your insurance policy; this gives you time to remedy the fact if you wish to, and gives you something to think about when planning your vacation. For example, any accident or loss of property which occurs during activities that the insurer might consider “reckless” (bungee jumping, skydiving etc) will not be covered in most cases. If you’re bringing a lot of valuables with you, too, you may need to up your coverage amount for such things.
So, when you plan your next trip abroad please don’t hesitate to make this small but important investment! It can be a real life-saver, after all.