Travel insurance is one of the most important things to consider if you are traveling overseas. While most of the tourists traveling overseas take adequate precaution and travel safely, in a few cases they find themselves in difficulties. Each year, thousands of cases are reported by tourists traveling overseas especially developing and underdeveloped nations. Medical emergency includes cases of hospitalization, death and in emergency evacuation to another location or home country for medical attention.
|Why travel insurance is important if you are traveling overseas|
Medical treatment overseas is an expensive whether from injury or illness. Daily hospitalizations cost in Southeast Asia could reach as high as USD 800. In cases where the individuals are not covered by travel insurance, personal tragedies could be compounded by a long term financial burden.
Same could happen with loss of luggage in transport or passport. You may miss flight due to confusion at airport terminals or there could be some terrorism related activity which forces you to cancel your travel plan. To cover all these unforeseen circumstances, travel insurance comes as a great respite and lifesaver.
Here is why travel insurance is important especially if you are traveling overseas for long vacation. Click to Tweet
- Your flight has been cancelled
- Your baggage is lost in transit
- You had your wallet stolen which had your passport and you need cash and replacement
- You have a medical emergency and you need evacuation to another country because adequate medical facilities are not available
- Sudden illness makes you cancel your trip
- The cruise you were traveling in goes bankrupt and you need to get to your destination as well as the coverage of non-refundable expanses
- An incidence of terrorism takes place in the city you were planning to travel to
Insurance for trip cancellation or interruption is a must consider point if you are traveling long distance. These kind of policies cover cancellations due to weather, sudden illness, death and emergencies whilst at home or abroad For traveling to Delhi from Bangalore, it is not advisable to go for the insurance but if you are traveling from Delhi to Los Angeles on your dream trip or going for a cruise in Mediterranean, you should definitely go get yourself insured for trip cancellation and interruption. Do not buy this insurance from the individual travel provider because the chances are that if the company goes out of business so does their insurance.
Medical emergency is perhaps the single most important factor to consider proper travel insurance cover. Under this cover, you will get assistance if get sick or injured overseas. The policy covers your treatment cost, cost of medical advice from doctors, medical bills and even evacuation to your home country or nearest country where adequate medical facilities are available for your treatment.
Baggage insurance is generally covered in trip cancellation and interruption policy but it is always advisable to go for larger policy if you are traveling overseas for a long vacation. Go for excess valuation which requires you to declare the contents of your luggage. And it’s well worth it if your carrier does lose your bags.
Other insurance policies which could come handy are Golf Travel Insurance, Adventure Sport Travel Insurance and the credit card coverage. Credit card coverage is available to if you have used your credit card to book your trip. You need to check with your credit card provider for more details on coverage.
Author Bio: Contributed by Nikhil Chandra