Safe Or Sorry: Travel Insurance For Your Wanderlust

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Most travellers will have a story or two about how not everything is perfect during one’s travels. Just read the reviews on any hotel or resort: someone will always have something negative to say. Things happen, in life, and especially when travelling. Being far away from home and removed from everything comfortable and familiar can be exciting, but it can also become very challenging when something unexpected happens.

Some trips can become virtual “comedies of error” as tickets and baggage get lost, passengers getting sick, and natural disasters may occur. Not much of a comedy in some cases. Traveling to a foreign country always includes a number of risks. Getting sick in unknown territory could become quite a traumatic experience if you’re not prepared. When adversity hits, it’s better to be at least a little prepared versus being caught completely off-guard. Without preparation, you might end up paying a lot more than you had hoped to spend on your entire trip.

Travel Insurance

That is why travelers today should ensure they have sufficient insurance policies in place to protect them from all possible risks. Some travelers may write off the idea of travel insurance by saying that it is just another money grab, but in particular after the covid19 pandemic it’s been proven it pays to be prepared, and protected financially (as well as medically, by the way). Most of your trips may have gone off without any issues. But travel insurance is all about your protection, as well as protection for your loved ones who may or may not be travelling with you.

Travel insurance is one of those things you’ll think you’ll never need, until you do. And then, the right travel insurance policy suddenly transforms into a blessing when things do go wrong. If an emergency forces you to spend more than you had budgeted for, the right travel insurance plan has your back. Legally speaking, insurance is the transfer of risk in exchange for a premium. The insurance company takes over the risk, and you pay the premium. Everyone hopes nothing happens (that’s how insurance companies make money), but when it does you’re less exposed to the risks you encounter when travelling.

Transferring Risk

And where should you be looking for travel insurance? Well, start online. When. you book travel insurance is often offered as an upsell. Those mindless upsells may (or may not) provide you with the best coverage you need. Again, insurance is the transfer of risk so ensure you are covered for the right risks and to the right level of risk. Maybe you’re willing to accept some of the risk yourself?

Most travel policies will cover you for illness, baggage loss, and emergency evacuation. Your premium credit cards may include some insurance as long as you book the travel using that card. Again, ensure it’s the right insurance for you. Frequent travelers can even get an annual multi-trip policy so you’re covered for every trip you take throughout the year. Long story short, traveling is a lot of fun when (mostly) everything goes more or less according to the itinerary. However, make sure you’re prepared when it doesn’t.

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