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Why Travel Insurance Is A Wise Investment


November 15, 2021 ( Newswire) Travel insurance is a topic that has been up for debate with travelers around the world. They want to know if it is worth the cost. Many ask what the benefits are. People argue that they have travel protection through their credit cards. You also hear the statement that they have good medical coverage so they will be just fine.

After reading this article things may become clearer. The question of whether travel insurance is a wise investment will be answered. Be aware that every policy will be different. Every agent will offer different packages. Read every section of the policy that they are offering you before you agree to pay their premiums.

  1. Medical Issues - Smarttraveller, an Australian government site, states that hospitals in some countries will not treat you unless you give them the information that they need. Even if you are dying, they will not treat you. You have two options if a medical emergency comes up. One, you can pay cash up front for medical services that will be provided. Second, you can show proof of insurance. Your Blue Cross card will not work in this instance. You must have medical coverage that is attached to a travel insurance policy designed to cover you in their country. If you have a credit card you may be able to use the coverage that they include, but you must use the specific card to even be eligible.
  2. Medical Evacuations - If you get injured while hiking through the Alps, or while swimming with the sharks along the coral reefs, you will need to rely on the local emergency responders to get you to safety. If you do not have health insurance, they will either deny helping you, or they will hand you a huge bill for services rendered.
  3. Cancelling the Trip - If something should come up that requires you to cancel your planned trip, you may be out the money that you have put out towards it so far. If the reason behind the cancellation falls under an acceptable reason in your travel policy, you can be reimbursed for some, or all, of the costs that you have paid off.
  4. Lost Luggage- Things get lost while traveling. Whether the luggage was thrown on a plane to Bermuda, or a thief decided to target your hot pink suitcase, travel insurance will help you replace the items that you had packed.
  5. Travel Bankruptcy- Companies today are not as transparent as they used to be. If the company that you had planned to use for your travels took your money and then filed for bankruptcy, you may have to wait a decent amount of time before getting reimbursed. Travel insurance, on the other hand, will pay you back for the amounts that you have paid out already.
  6. Lost Passport- Losing your passport can end up being a huge issue that may make it temporarily impossible for you to travel back home. This will be a hassle no matter how you approach it, but if you have travel insurance coverage you will be helped with the details. They will get you in touch with the embassy and help expedite the replacement.
  7. Rental Car- You can include rental car insurance with your travel policy to ensure that any issue that may arise will be covered. This coverage is usually better than the coverage offered from the rental car agency.

The age-old question involving the wisdom of travel insurance is proven above. If you choose to travel, you should always get a good travel insurance policy before planning it. As mentioned earlier, policies will be different. They may also have restrictions on areas and exclusions for pre-existing medical injury. Compare policies from numerous different carriers and pick the one that works best for you.

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