Going on a trip to a foreign country requires a lot of careful consideration and intense preparation. This is to make sure that the trip is enjoyable and without any interruptions. However, despite your best efforts, your travels don’t always go according to plan. Hence travel insurance becomes an important part of the planning stages of any travel. As most people think of it, travel insurance is a safety measure against the possibility of health emergencies. However, it also protects you from other travel related issues that could sour your vacation. Here are some other reasons why buying travel insurance should be part of your travel preparations:
- Protects against unexpected medical expenses
No matter how precise your plan is, many things can go wrong when you go abroad and put you in an insecure position. One of the biggest concerns when traveling abroad is medical emergencies. In an unknown area, it can be difficult to find money for proper medical care or medical treatment. Dealing with the availability of medical services and the lack of expenses at your disposal can create financial stress and turn the entire vacation experience into a nightmare. This is where travel insurance can help. It provides coverage for your medical needs as you travel. In addition, most insurance providers offer medical coverage on a cashless basis.
- Supports you in an unfamiliar territory
Travel insurance offers round-the-clock customer support for policyholders that wish to make a claim. This means regardless of language or geographical barriers you can be sure that the insurance provider will assist you with any issues that falls within their scope of coverage. Wherever you go with a travel insurance policy, you will have a dedicated team to assist you in any medical or travel related emergencies. Even if you are traveling within the country, domestic travel insurance offers similar benefits in an area you are completely unfamiliar with.
- Coverage for personal liability
Sometimes an emergency that you experience can cause damage to a third-party person or their property. As the potential cause of the problem, it is your responsibility to bear the cost of the damage. Hence, you may be under a legal liability to do so. To cover this compensation, some travel insurance plans also offer the benefit of ‘personal liability’, in which the insurance company will cover any loss or damage you may cause to a third party.
- Travel emergencies
Sometimes, you may encounter non-medical emergencies during travel, such as a passport, laptop, international driving license, check-in baggage or travel delays, which could result in the loss of air connections or the loss of hotel reservations. Travel insurance plans make sure that you have enough financial assistance to secure yourself from numerous emergencies. Some companies even offer compensation for visa denial. Therefore, it is best to take out travel insurance to deal with such situations in a better way.
- Mandatory requirement
Some countries impose a mandatory requirement for tourists to have a travel insurance policy. So, when you are barred from entering abroad due to lack of travel insurance, it is no helpful to be unprepared and shocked at the immigration counter. Visa applications are often rejected due to lack of travel insurance documentation. Therefore, before going abroad, check whether your destination country has made travel insurance conditional for visitors. Despite travel insurance being mandatory or not, it is better to have a policy and safeguard yourself against any emergency that may arise. This way, if you do have a medical emergency or loss of baggage, all you have to do is make an insurance claim.
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Smriti Jain is the owner and senior content publisher at Financesmarti. Financesmarti is a website where she shares a lot of useful stuff for the people and business of India. This includes small business ideas and other banking information, as well. Smriti completed her education in science & technology from Delhi University. Smriti usually has interests in digital marketing now, and she has chosen this career for the full-time opportunity. The primary purpose of starting this blog to provide quality information on the banking industry to the people.