Top 3 Reasons to Buy Travel Insurance

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KEY POINTS

• Medical Coverage

  Ensure comprehensive protection for unexpected illnesses, injuries, and medical emergencies while traveling abroad.

• Trip Expense Protection

  Financial coverage for costs including flights, accommodation, prepaid excursions, against cancellations, interruptions, and delays.

• 24/7 Assistance Services

  Access multilingual support, medical guidance, travel arrangements, concierge services, and identity theft services tailored to your unique needs.

Do you ever take trips without travel insurance?

Have you ever declined buying coverage from a pushy sales agent?

Is it worth it?

Is it right for you?

Bottom line – do you really need it?

These are great questions. Travel insurance isn’t right for everyone in every situation. However, there are lots of reasons to consider travel insurance. Let’s look at three of the most important reasons.

① Medical

Your health is your most valuable asset. It is imperative that you have access to emergency medical services while abroad.

You might be surprised to learn that the extent of your government-sponsored health insurance diminishes once you venture across state or provincial borders. This coverage further diminishes when traveling outside your home country.

Let’s look at some key medical benefits available,

Emergency Medical Treatment

This can cover the cost of unexpected illnesses or injuries while travelling abroad. This may include walk-in clinic fees, physician fees, diagnostic tests, and more.

Hospitalization Expenses

Your eligible hospitalization related expenses may include room charges, physician fees, nursing care, surgical procedures, medical supplies, laboratory fees, ambulance services, and more.

Prescription Medication

Travel insurance can cover the cost of prescription medication required to treat sudden and unexpected medical conditions related to illness or injury.

Dental Care

Some policies provide coverage for non-routine emergency dental care. This may include an emergency tooth extraction, treatment for dental pain, dental surgery and more.

Pre-existing Conditions

Some policies will offer a pre-existing conditions waiver if you purchase such coverage within a certain period from the date of your initial trip deposit. Be sure to answer all medical-related questions as accurately as possible.

Medical Evacuation

You may face a situation where the local medical services are insufficient for your medical emergency. Travel insurance can arrange and cover the cost of transporting you to the nearest qualified medical facility or back to your home country.

Repatriation of Remains

You and your loved ones can find peace of mind knowing that if the unfortunate event of your death occurs while abroad, your policy can arrange and cover the cost of repatriating your remains back home.

Accidental Death and Dismemberment

This coverage provides you and your loved one’s financial protection against the unfortunate event of accidental death or severe injury. Compensation can cover medical expenses, repatriation, or a lump-sum payment for a permanent disability or loss of limbs.

② Non-Refundable Trip Costs

Travel insurance can cover your non-refundable prepaid trip expenses. While these expenses might not be significant for a short weekend road trip, they can become substantial when they include flights, accommodations, car rentals, and excursions.

How can you protect yourself?

Trip Cancellation Coverage

In the event of an illness, injury, or death of a family member, your policy will likely cover up to 100% of your prepaid non-refundable trip costs. 

Trip Interruption Coverage

If your trip gets cut short due to something like an illness, medical emergency, or hurricane, your policy may cover up to 100-150% of your unused prepaid non-refundable trip costs plus any additional expenses incurred to return home.

Missed Connection Coverage

Missing a connecting flight or other transport due to things like flight delays or cancellations can be frustrating and expensive. Take comfort knowing you are covered for things like alternate transportation, accommodation, meals and incidentals, and communication expenses.

Travel Delay Coverage

Like missed connection coverage, you can be reimbursed for expenses like accommodation and meals when your trip is delayed for a covered reason.

Baggage Delay

We all know someone that has had their baggage lost or delayed. This coverage will reimburse you for essential items that you need to purchase during the delay period.

③ Services

Many travel insurance companies will provide some or all of the following services 24/7.

Multilingual Services

Access to multilingual agents can be vital when trying to deal with an emergency in a foreign country. Your insurance provider may even have representatives in your host country.

Medical Services

Typically, you will receive assistance offering support for medical guidance like referrals to local healthcare providers, coordinating medical evacuations or repatriations, and assistance with medical-related payments.

Travel Services

In addition to the medical services above, you can receive help with travel arrangements for unexpected cancellations or interruptions, guidance for lost or stolen baggage, general advice, and liaising with local authorities and community groups during an emergency.

Concierge Services

You will enjoy personalized assistance tailored to your unique needs. Let the pros take of things like restaurant reservations, arranging transportation, providing local event recommendations, assisting with itinerary planning, and offering access to exclusive experiences.

Identity Theft

The risk of having your identity stolen continues to rise. Your risk may increase while travelling abroad.

Identity theft services may include credit monitoring for suspicious activity, identity fraud resolution assistance, restoring your stolen identity, and providing guidance throughout the entire process.

In addition to the above, your travel insurance may also provide benefits related to:

• Cancel for any reason

• Trip cancellation due to work

• Extreme sports

• Adventure activities

• Non-medical emergency evacuation

• Lost documents (e.g., passport, travel visa)

• Pet care expenses

FINAL THOUGHTS

Travel insurance offers both financial security and peace of mind. Without it, you run the risk of facing exorbitant medical expenses when traveling beyond your home state or province. Protect yourself from the worst-case scenarios, ensure your protection, and fully embrace your travels.

We wish you safe travels!

We also invite you to read our Travel Insurance Guide and reviews of our travel insurance partners. We are confident that you will find a policy tailored to your unique needs and budget.