Four Instances Requiring Travel Insurance

Travelling can be a fun and exciting experience for individuals. While travelling to foreign nations, travellers get a chance to witness new cultures, traditions and people. However, unforeseen situations can occur to anybody without prior warning. 

These situations, such as medical emergencies, baggage loss, etc., not only cause emotional turmoil but also bring additional financial expenses. Hence, having a travel insurance plan which covers flight delay insurance, baggage loss insurance, medical insurance, and more is essential. 

However, it is suitable to compare travel insurance plans based on coverage and premium to make an informed decision. In this blog, we will focus on instances where having a travel insurance plan is essential. 

Is Travel Insurance Mandatory?

Some countries have made it an essential visa requirement to have a travel insurance plan while entering their nation. This is due to their high medical expenses or living costs.  These countries include Schengen area countries, Singapore, Turkey, the USA, the United Arab Emirates and more. 

However, in general, buying travel insurance online is not a mandatory requirement. A travel insurance plan offers a safety net to individuals against various emergencies such as flight delays, loss of baggage, and more.

Reasons to Buy Travel Insurance

Deciding when to buy travel insurance can be very overwhelming. Planning an international trip requires a lot of time and hard work, and it can be costly. But if, for any reason, individuals have to postpone or cancel their plan, it can cause significant financial loss to travellers. Below are some instances where travel insurance plans come in handy.

• Medical Illness or Accidents: One of the deciding reasons why travel insurance is important is coverage against medical illness or accidents during the trip. Treatment for any medical illness or accident in foreign countries is usually very expensive.

Medical expenses in foreign countries are exponentially higher than in one’s native or home country. However, with a foreign travel insurance plan, the insurance provider will incur medical expenses. 

• Personal Liability: Some accidents in foreign countries can damage third-party property or cause bodily injury. Dealing with such a situation can be overwhelming. However, with a travel insurance plan with personal liability coverage, individuals will not have to worry about the medical or financial expenses incurred arising out of such situations.
• Hijacking: Another reason to consider investing in a travel insurance plan is hijacking help. Hijacking can be a stressful experience. A travel insurance plan available today offers a distress allowance to policyholders for each day of a hijacked flight.

This allowance helps compensate policyholders and their loved ones stuck in such stressful situations.

• Financial Assistance: A travel insurance policy also offers financial assistance to policyholders in case of baggage loss.

If a policyholder has lost their travel funds due to any legitimate reason during the trip, a travel insurance policy can cover up to a certain limit.

When Should You Buy Travel Insurance Online?

A travel insurance plan should be purchased depending on your travel destination. When travelling to countries where travel insurance is mandatory, the policy must be bought before applying for a travel visa. Alternatively, if you are travelling to a country where travel insurance is not mandatorily needed but recommended, it is wise to get the policy at least 15 days before a trip. 

However, before purchasing, it is best to compare travel insurance based on coverage and premium. While comparing the plans, go with a travel insurance provider that fits your budget requirements, offers extensive coverage, easy purchase and claim processes, and a high claim settlement ratio.

Conclusion

Travel insurance offers a safety net against various unexpected emergencies during the trip. The plan should be purchased before the start of the trip date, and individuals can only buy travel insurance online before leaving their home country. 

In any case, an insurance company will not cover any expenses arising out of self-harm, illegal activities, or breach of law. It is best to read the travel insurance policy exclusion before buying any plan.