9 Important Reasons to Buy Travel Insurance - Ratinah

Buy Travel Insurance - For thousands of years, risks have been shared during times of tragedy. The first formal insurance company, Lloyd's of London, was formed in 1769 and their principal concept remains today - to gather the premiums of clients as a pool of resources to return to clients who experience unexpected but covered events. 

9 Important Reasons to Buy Travel Insurance - Ratinah

So, that is the secret really, plan for the unexpected and make sure you're covered, especially when you're travelling. Whether your trip is a quick one or a round the world cruise, there are many good reasons for travel insurance. Here are just 9:

1. Medical Emergencies

If you fall sick or are injured during your travel, your travel insurance will give you financial coverage.

2. Flight Cancellations

If your flight is cancelled or delayed then your travel insurance should help. Depending on the cover available, a room for the night and even alternative travel home can be included.

3. Pre-existing Medical Conditions

Even if you have a pre-existing medical condition and it flares up while you're on vacation, as long as you've advised your travel insurance company prior, you should be covered.

4. Damage or Loss Of Personal property

What are you going to do when your luggage gets stolen? Yes, it happens, all the time. There are organised gangs that work in airports doing just that. Guess what? You need travel insurance.

5. Loss of Cash or Traveller's Cheques

You're in a foreign country far from home. You either lose, or have stolen, your entire holiday fund. You're going to need help and quick. Again, travel insurance is a must.

6. Emergency Evacuations

What with global warming and economic pressure more and more holiday destinations are being built in potentially dangerous territory. Who would have wanted to be in Thailand on that Boxing Day? Travel insurance will help if you have to get out quick.

7. Car Crash

It can be very difficult driving on the wrong side of the road in a strange country. Accidents happen.

8. Funding for Lost Travel Documents

Travel documents such as passports are often scattered and even lost. The risk posed by a lost passport is no joke because all travel arrangements use this document.

In policies, travel insurance usually offers the issuance of passports, tickets, and other travel documents that are lost due to various conditions. Therefore, you need to pocket travel insurance before leaving.

9. Coverage Against Death Risk

No one knows when one will face death. This can happen while you are traveling. Having this type of insurance is also a solution for families who are left behind because of the insurance costs paid.

Okay, there you have it. 9 good and solid reasons why you need travel insurance the next trip you make. The other alternative of course is to not take out travel insurance, or to stay at home. Now, there's an idea. But seriously, as always when taking out insurance, especially travel insurance, read the fine print. Importantly, find out before you go what is excluded, not just included. So, always read the fine print. For example, accidental coverage is not provided in case of drunken driving, driving under the influence of narcotic substances etc.

Exclusions are also provided for accidents during risky sports like bungee jumping, car racing, scuba diving, white water rafting, flying (except as passenger in regular airliners), gliding, skiing, bike racing, diving, mountaineering, windsurfing etc. The list goes on (insert for your favourite potentially dangerous sport here). That means in case of accidents in these situations the insurance company is not liable to pay any amount to the insured.

That's 9 Important Reasons to Buy Travel Insurance

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