12 October, 2015
Top 10 Reasons People Buy Travel Insurance
Do I need Travel Insurance?
We help travellers every year through unanticipated travel delays, bad weather, lost luggage and medical emergencies in foreign countries.
01: Life is unpredictable. Some trips need to be cancelled.
With travel insurance, travellers don’t necessarily have to pay for a trip they are unable to take.
02: Over 26 million bags were delayed, damaged or stolen in 2012
Travel insurance can provide coverage to replace needed items right away.
03: Credit card coverage may not provide sufficient coverage for travel.
Most credit cards don’t provide comprehensive coverage that travel insurance offers and, often, only takes effect if you purchase the entire trip on the credit card. Another consideration is they typically do not provide medical insurance, so should only be looked as a secondary insurance.
04: Sickness happens.
63% of travellers report they or their travel companion have become sick while on holiday. That’s more than one out of every two travellers. Lost or forgotten medication? Travel insurance can provide assistance in locating a pharmacy to purchase a new prescription.
Travel insurance can provide peace of mind – especially when travelling outside Europe, where some hospitals request cash payments before treatment can even begin.
05: Health insurance may not go the distance.
With an EHIC (formerly E111) you get get the same level of state-provided medical care as someone who lives in the country you are visiting. It’s valid in all European Economic Area countries and Switzerland. The EHIC won’t cover the costs of repatriation – getting you back home after a medical emergency could be very costly. While its worth getting an EHIC, it’s not enough on its own. You should still obtain travel insurance that includes medical and repatriation cover.
06: Even the most stable of travel suppliers can default quickly.
If a cruise line, airline or tour operator ceases operations due to financial hardship or bankrupy, travel insurance can save travellers from paying for a trip they’ll never get to take.
07: In the event of an emergency, airlines are not requested to refund a ticket.
It’s ultimately the airline’s decision whether a traveller’s situation warrants a full refund of the ticket cost. Most times however, airlines will merely offer a credit voucher (the original purchase price minus a penalty fee) towards future travel).
08: Flight delays can add up.
It is not the airline’s responsibility to cover costs associated with delayed flights or refund money due to missed connections. Travel insurance can reimburse you for the costs associated with these, including rebooking fees, meals and accommodations.
09: If you are over 65 or have a medical condition, you might need specialist insurance.
If you have a medical condition you have to tell your insurer if asked or risk invalidating your insurance policy.
10: Adventure sports, winter sports and any ‘dangerous activities’ are often not covered.
As part of a standard travel insurance policy and you may need extra cover.