Is travel insurance a waste of money? Well, for many, travel insurance is the last thing that comes to one’s mind when one is planning a holiday trip. Many feel that to get a travel insurance is nothing but wastage of money and the same amount of money can be used for some other expenses. But you cannot simply consider travel insurance a waste of money considering the immense benefits that it provides to the traveller. Whether you like it or not, there is no denying the fact that any kind of mishaps during the course of the journey can cripple you forever financially, mentally and physically.
Why do we need travel insurance?
Whether you are a frequent traveller or you are travelling just for a week, the foremost thing to do is that you should get travel insurance before you move out of your house. Don’t look at the money spent on it; instead look at the advantages that travel insurance has to offer in a crisis situation.
- Emergency medical treatment: You fall sick during the journey. Your medical expenses will be covered, which also include your transport cost by road or air to the hospital. But you have to check whether your travel insurance covers the coverage of pre-existing ailments or not.
- Emergency evacuation: You need to be evacuated from the place where you have visited another place due to some natural calamity. The expenses involved in emergency evacuation are also born by the travel insurance.
- Cancellation charges: Due to some reasons, you have to cancel your trip or you have to change the length of your trip, then your travel insurance covers all the cancellation charges which include bookings of tickets, hotel bookings, and others.
- Personal luggage: What about your personal luggage or belongings? There is every chance that these might get lost, stolen, damaged or misplaced. The benefit of having travel insurance is that you get back what you have lost in terms of money. May be not the full amount as there is a limit that is covered but at least you will get some compensation.
- Accidents or Death: In a fun-filled adventurous trip, there is also the chance of you getting hurt or you being injured while performing bungee jumping, para gliding or other sports. There can also be accidental deaths. Travel insurance also covers the costs involved in the treatment of injuries or death benefit.
- Legal Expenses: If there are any expenses due to a personal accident or personal liability and the expenses are of legal type, travel insurance also covers this.
So again, is travel insurance a waste of money?
Considering the benefits mentioned above, we cannot say that travel insurance is a waste of money. There are policies where you can add or remove certain covers as per your choice. The thumb rule is that read the final print thoroughly, understand each and every point, compare the quotes and then choose a policy that insures you in the best way. To sum up, have safe and happy journeys with travel insurance.