For those who have to travel may have faced the choice of purchasing travel insurance. Read on to know if travel insurance is worth the effort or not?
In case you are traveling to a far-off destination then travel insurance is viable. Buy travel insurance, if you are undertaking a major trip and have been waiting for it for years and the trip tickets and accommodations are expensive and won’t be refunded.
1. Major Types Of Travel Insurance
Usually, there are five types of travel insurance offered but if you want you can buy additional riders with the same.
Flight Insurance: This is the kind of life insurance which you get in case your flight crashes.
Baggage Insurance: If your luggage gets lost or delayed or damaged, this insurance would be your help. However, this type of insurance may have some kinds of exclusion on expensive items like jewelry.
Trip Interruption/Cancellation Insurance: This insurance will pay if your trip gets stopped because of health reasons or any last-minute cancellation. This insurance will cover the fees that you may have paid for the trip.
Evacuation Insurance: You have gone for an adventure trip and get hurt and are transported to a hospital for treatment. The cost of the same is covered under this category though there may be exceptions.
2. An Evacuation Plan Could Be A Good Idea
Getting an evacuation plan works best in such a scenario. You may fall sick while abroad and evacuation plan would ensure that you are moved to a hospital or your home country for the treatment thus saving you hundreds and thousands of dollars.
But here also evacuation policies may cover the cost of transportation but not the expenses incurred in treatment. Moreover, you may not get the option to choose the hospital of your choice.
3. The Bottom Line
It is up to you whether you want to invest money in a travel insurance policy or not. If you are traveling a lot then buying a travel insurance policy will be a wise decision. Even then to avoid any hassles you must read the fine print so that you are aware of any restrictions or conditions that might not suit you later.
