Travel insurance not only covers pricey medical bills, expenses and travel costs incurred by cancellation or alterations out of your control, but also administrative fees and charges – and much more. The latest bout of devastating natural disasters in Japan and troubles in places like Libya, Egypt and Tunisia are all we need to remind us that both Mother Nature and mankind can cause crises at anytime, anywhere.
While those who had taken out insurance cover upon booking their holiday to a disaster-stricken resort would have been reimbursed for cancellation of flights and entire vacations, a minority of holidaymakers will have been left seriously out of pocket and incredibly disappointed when their flights and vacations were cancelled, simply because they didn’t pay a few dollars more for travel insurance.
These holidaymakers may not have even been going to any of the destinations affected – flights across the globe are often profoundly affected by such events and, while you may think you’ve picked a pretty safe destination, you never can be sure.
Similarly, the shaky economy over the past few years has seen a staggering number of airlines and tour operators go bust – if this happens to yours and you haven’t got travel insurance, or the appropriate level of cover, then you’ll lose your money. If you’re on vacation when the company folds then you’ll probably have to fork out more cash in order to get home.
Without travel insurance, holidaymakers cannot expect any form of compensation for the unforeseen, whether or not it was anything remotely to do with them. What may have been the biggest outlay you’ve made in years could turn out to be the biggest amount of money you’ve ever thrown away.
If you or a member of your party is injured or falls ill while abroad, you and your family could incur bills of thousands, tens or hundreds of thousands, or perhaps even millions of dollars. For the sake of a $50 insurance policy–and they’re usually even less – is it really worth committing yourself and your family to a life of regret, hardship and bankruptcy?
If nothing else, travel insurance will bring you peace of mind. The chances are that you and your family will have an incredible time on holiday. You’ll enjoy watersports, mountain climbing, road tripping, mixing with the locals, or whatever else it is you have planned, and come out unscathed and wholly revitalised.
Without the safety net of an appropriate travel insurance policy below you though, you probably won’t enjoy your holiday quite as much. And if the worst happens, without insurance cover, you’ll be complicit in placing yourself and your whole family in extreme danger. If any of you were to be injured or taken ill, then it’s likely that you won’t receive medical treatment and if you do, you couldbe financially crippled as a result.
So get online and use the insurance comparison tool – it’ll scour hundreds of insurance policies with just one click to find you the best travel insurance deal around.
This has been a guest post by the Money Super Market. Insurance is quite important, especially when you are travelling abroad. The few extra bucks could really make all the difference in the event something goes wrong on your vacation.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.