Why Travel Insurance Is So Important!

Travel insurance may be the last thing on your mind when you’re booking a holiday, but there are so many reasons to have adequate protection regardless of whether you are travelling domestically, trans-border or internationally. A personally customized protection policy will allow you to travel with confidence. It will greatly assist you through virtually all unexpected events that may arise before or during your trip, to minimize your stress and monetary implications. It can turn out to be the most important thing you ‘pack’ if ever you’re in a crisis situation.

A travel insurance policy does not only ensure that you will get coverage for unforeseen losses; it also allows you to avail of a number of services that can be invaluable during times of emergency. Most travel insurance companies offer travel assistance and 24-hour emergency services to help their customers deal with unfavorable situations during their vacations. The company will offer the best advice or contact local emergency services to help you solve your problems in the shortest time possible. This kind of assistance is especially important if you are traveling to a country where the locals do not speak your language.

Medical Care & Transport

Travelers are unfortunately more vulnerable to illnesses and accidents when they are traveling in a strange land. If you fall sick or suffer an accident on your trip you will be covered for the costs of your medical needs which can easily amount to tens of thousands of dollars. Depending on severity, most insurance policies will pay for you to be transported by ground or air ambulance to a proper medical establishment for treatment even if this means to another country or returning you home. Most insurance companies will pre-pay hospital and physician bills wherever possible so you won’t have to find the money.

Trip Cancellation, Curtailment and Interruption

Covers any financial loss, unrecoverable by other means, such as lost deposits or non-refundable transport costs, you suffer as a result of having to cancel or cut short your trip or having to return home suddenly. Common reasons for claiming under this section would be the sudden and unexpected serious illness or death of a close relative, travel companion or even friend, or something happening to your home such as fire or flood. Other reasons include volcanoes, acts of war, hurricanes, travel advisories, and travel supplier bankruptcies.

Missed Departure

Covers additional costs if you miss your scheduled means of transport for departing your home country and the first international means of transport on the return journey. Cover is usually restricted to incidents out of your control such as weather, road accidents, failure of public transport or your own vehicle breaking down etc.

Personal Liability

This gives you cover if you damage someone’s property or hurt them in some way.

Personal Accident

If you are hurt or die during your holiday you or your loved ones would be entitled to compensation as defined in your policy.

Legal Expenses

If you have any expenses of a legal nature due to a personal accident or personal liability, for example, this covers at least an element of these.

Personal Possessions, Luggage, Money and Passports

This covers your bags and personal belongings while you are away including such things as cameras, laptops, jewellery, golf clubs, passports, visas, and driver licenses, cash that are lost or stolen. Accommodation and meals can be covered while waiting for documents.


NOTE:

*Never assume that travel insurance coverage offered through work or on a credit card provides sufficient coverage for your trip. All policies vary in terms of the exact elements and levels of cover they offer, so it’s important to make sure you read all the fine print and make certain that the insurance policy you are taking out covers everything you want it to.

There are two main types of travel insurance policies - Single Trip and Annual insurance. With a single trip insurance policy you are covered just for the one trip with the details being specified in the documentation. An annual travel insurance policy will usually cover you for multiple trips during a 12 month period. It is important to make sure that you pick a policy that will protect you in the best possible way.

Learn more, get a quote or purchase Manulife World Travel Plans. Should you have any questions, please contact us.