Scrolling through travel insurance plans might be the most excruciatingly boring aspect of planning your vacation, but it is the most important. Regardless of how careful you are, there is always a risk of experiencing a bump in the road. Accidents, sickness, and stolen valuables are just a handful of things that can put a damper on any perfectly planned trip.
Travel insurance is the smartest investment you will make during your worldly travels and here is why!
Avoid a Brutal Medical Bill
Getting sick or injured is the last thing any traveler wants to think about while trekking the Inca Trail in Peru or camping within the wilderness of Jasper National Park in Canada. It is imperative that you always prepare for the unexpected and have proper medical coverage in the event of a medical emergency.
More than likely, your regular health insurance will not provide you coverage when you travel abroad. A stomach illness that gives you sweats in the middle of the night or a broken leg sustained in the wild will require immediate attention. Without proper travel insurance, you could be out thousands of dollars to pay the bill out of pocket.
Avoid this potential catastrophe and have peace of mind with substantial coverage for emergency medical treatment and emergency evacuation. I would recommend having a minimum of $50,000 in coverage for emergency medical treatment for a standard trip out of the country, but bump it up to $100,000 of coverage should your itinerary be filled with more adventurous activities. Have a minimum of $100,000 for emergency evacuation, but consider increasing it to $250,000 depending on your plans.
Replace Lost Luggage or Damaged Equipment
Some of us always hold our breath when we are not allowed to carry a bag onto the flight and it is left in the hands of the airline. Will my bags make it to my final destination or will they hop on the wrong flight to the other side of the world? Will the grounds crew be careful with my valuable camera equipment that's inside? This can make your flight a stressful experience.
A quality travel insurance plan will guarantee that you can replace lost and/or damaged items during your trip. If your camera gets smashed or laptop gets stolen, you will receive the necessary funds to replace them.
You Have to Cancel the Trip
An unexpected family emergency or unemployment are legitimate reasons to halt your vacation plans. If you have invested thousands of dollars into a spectacular Mediterranean cruise or European bicycling tour, you could lose the trip and the funds without travel insurance.
Make sure your travel insurance plan covers you for any unplanned events that could make you forego the trip altogether. Even though you may not get to experience the trip of a lifetime this time, you can use the recovered payments to plan another adventure in the future.
Missed or Canceled Flights
Whether your initial flight is canceled or you are unable to make your connecting flight in time, travel insurance will take care of the fees required to catch another flight to reach your destination. Some events are out of your control and it is smart to have a backup plan to avoid a serious delay to your trip. Plus, having to pay for one or multiple new flights can put a strain on your budget.
Choosing the Right Coverage
Having to account for travel insurance while planning a vacation on a limited budget can be an understandably frustrating process. Before determining the budget for your trip, take the time to research a list of quality travel insurance plans that provide a detailed account of everything you are covered for. You will find thousands of plans at various price points.
It can be tempting to pick the cheapest coverage option, but can be a crucial mistake in the event of an emergency. Make sure you read the fine print before purchasing your plan.
The right coverage will prevent you from walking on pins and needles the entire trip!