Many people think travel insurance is expensive and don’t even bother to get a price for it when they go on holiday. They would rather take a big risk and hope that they won’t suffer any major setbacks while they are abroad.In actual fact, travel insurance is fairly cheap when you consider everything that you will be covered for while you are on holiday.
Here’s a list of the things that can usually be covered by travel insurance:
- Lost luggage
- Liability coverage
- Emergency medical assistance
- Emergency dental
- Lost or stolen cash
- Lost or stolen camera equipment
- Lost or stolen personal items
- Lost or stolen jewellery
- Lost deposits
- Cancellations due to flight delays
- Damage to car hire
- Flights home in the event of a family emergency
- Resumption of journey charges
As you can see, for what will turn out to be quite a small travel insurance premium, you are able to cover many things that could go wrong while you are travelling. When you consider the cost of your trip, you will also discover what a very small charge the travel insurance component is.
Imagine if your bag is stolen while travelling on a bus in Thailand – travel insurance will cover your belongings. Imagine that you drop your brand new iPhone over the side while taking sunset pics on the cruise of a lifetime – travel insurance will get you a new one. How about if you break your leg while hiking up a volcano – you can rest easy knowing your medical bills and the costs to get you home in first class will all be covered by your travel insurance premium!
Of course there are many ways to reduce the cost of your policy. One way is to do your homework before purchasing cheap insurance cover. Just because a premium is the cheapest, doesn’t mean it covers everything you need.
Check the details and read all the small print of your potential insurance premium (yes, we know it’s really boring – but you need to know what you are dealing with and what information you will need to make a claim!)
Once you are satisfied that you have all the cover you require, try to find an online coupon so you can receive a discount on the premium. If you have used an insurer previously, they will often give you a discount the second time around. This is also possible if you hold another kind of insurance policy with the same insurer (like house or car insurance).