travel-insurance

Travel insurance: Do you really need it?

In a word, yes!  Experts such as Robert Yancovitch will tell you that it is absolutely imperative that you secure travel insurance before taking any trip.  Why?  There are actually several good reasons.  Read on to find out more about the importance of travel insurance.

First, let’s discuss what travel insurance actually is.  Essentially, it’s a type of insurance that covers the policy holder against illness or financial loss that may occur while you are on your trip.  For example, if you get sick while on your holiday and require hospitalization, your travel insurance policy should cover the cost of the hospital stay, etc.  Travel insurance can be purchased from a financial security advisor before you leave for your trip.

Although the specific coverage will vary by policy, travel insurance generally covers things like transportation to a medical facility (e.g. by ambulance), the cost of treatment, as well as any financial loss you may have suffered from having to cut a trip short, such as the cost of changing a plane ticket, hotel fees, etc.

The cost of insurance coverage will vary also, depending on where you buy your coverage and what type of coverage you purchase.

The duration of your coverage will also depend on the particular policies of the insurance carrier from which you purchase your policy, as well as your particular needs.  You can purchase travel insurance for a short trip or even a policy that covers you for up to a year, which may allow you to travel several times on one policy.

It’s important to purchase your policy as close to your departure date as possible.  This may seem counterintuitive, as most travel preparation tasks are usually best done well in advance, but there’s actually good reason to hold off on purchasing your travel insurance policy until just before you leave.  Doing so will ensure that your insurance policy coverage will be active throughout your whole trip.  You don’t want to purchase it too far in advance and then find out that your coverage runs out partway through your trip.  Ensure you are covered for the entire duration of your trip, from your front door and back again.

If you are planning a trip, you know how much preparation goes into the process.  Before you head out, however, it’s important to talk to a financial securities advisor to discuss purchasing some travel insurance.  They have all of the information you need to decide on a policy and they can make recommendations as to the type and scope of coverage you should purchase.  When you purchase travel insurance, you can rest assured that if bad things happen, whether you fall sick or whether your flight is cancelled, your insurance policy will have you covered.  Travel insurance allows you to relax and focus on the fun of travelling!