Especially during festive periods, travel disruptions are practically inevitable because many people are traveling at the same time. This is why travel insurance is an essential investment- it gives travelers much-needed relief through financial protection. But what exactly does travel insurance cover? How exactly does it reduce travel risks? How can one find good travel insurance? This article answers these questions- so let’s get into it.
What is travel insurance all about?
Travel insurance serves as an extra layer of security and protection for travelers; think of it as a cover from unwanted travel situations. Travel insurance policies protect travelers from losses that may arise before and during trips.
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Here’s how it works: travel insurance costs a percentage of your total travel cost and serves as a cushion in case of travel-related losses. Travel insurance is particularly essential for big-ticket trips like safari or luxury cruises.
Trip interruption coverage
Most travel insurance policies offer trip interruption coverage. If there’s an unavoidable reason to cut your trip short, like an illness or family emergency back home, your travel policy will reimburse you for any non-refundable expenses you may have incurred.
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Some travel insurance policies may cover the cost of a one-way airline ticket back home. However, a travel insurance policy won’t give you coverage if you cut your trip short for illegitimate reasons like missing your friend or getting bored.
Baggage loss
You’ll agree with us that baggage loss is a common issue that occurs when people travel. If you have a travel insurance policy that offers baggage benefits, it could be a saving grace if your luggage gets lost during your trip.
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This policy can compensate you for the repair, cash value, or replacement, depending on which is lesser. Your insurance company can reimburse you for covered loss, damage, or theft to the maximum shown on the Confirmation of Coverage.
Is travel insurance worth it?
If you’ve incurred lots of non-refundable expenses on your trip, you’d wish you paid for travel insurance when something unexpected happens. While travel insurance is important for all trip types, it is very essential under some circumstances.
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If you’re traveling to a remote area or to an international destination where your US-based health insurance won’t apply, it’s very crucial to get travel insurance. Furthermore, you should opt for travel insurance if your flight involves several destinations or connections.
Finding a good travel insurance policy
While it’s an easy process to purchase travel insurance, there are factors you need to carefully consider. The most important factor is how much coverage the policy offers- of course, the wider the coverage, the better the policy.
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Another important factor to consider is the price of the travel insurance policy. You should consider the small additional fees aside from the premium because they can all add up and overwhelm you. You can compare policies on sites like CoverTrip or InsureMyTrip to get a clearer view of your options.
