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The importance of travel insurance cannot be overstated whenever you travel. Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling. Despite the many advantages of travel insurance, only a handful of travelers buy a travel insurance policy.

Imagine this scenario: you have exited your office and you are on your way to your long-planned vacation. Everything is going smoothly and you are excited and looking forward to it. However, your baggage disappears. To make matters worse, all your travel documents are in your suitcase. This is definitely a nightmare and it is exactly why you need travel insurance.

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Your lost luggage will be replaced

A lot of travelers go on tour with different types of items from clothes to home appliances and jewelry. If you do not have travel insurance, you will be the one to bear the cost of these lost items. Due to this, it’s advisable to buy a travel insurance cover so as to prevent any kind of loss of cash theft.

Your medical expenses will be covered

Whether you are on a business or leisure trip, you do not know when you are going to fall ill. If you happen to fall ill, you may be unable to cover your medical expenses because the medical bills may be too expensive for you to settle. To avoid this kind of unpredictable situation, just buy travel insurance.

You won’t pay cancellation fees

Every traveler books a trip in anticipation that nothing will disrupt your travel plans. From nowhere, you got an email summoning you to the office, you have no choice than to cancel your trip. For this, you will be charged a cancellation fee. You do not need to pay this fee if you have travel insurance.

Fraudulent charges

Imagine losing your credit/debit card while you are on a vacation and you start getting texts that someone is using it. Scary, right? Not only are you losing your money but you are losing money in a place where you might not even find help easily. But with travel insurance, that would not be a problem. Your policy will refund you for the money lost through stolen payment cards for up to 12 hours prior to your first reporting of the incident.

Loss of passport, baggage, or documents

This is probably the worst situation you can imagine while traveling. But if you have travel insurance, you have help at hand. In case of a lost passport, your insurance will reimburse the cost of acquiring a duplicate or a new one. In case of missing belongings, you will be compensated for your loss up to an approved sum; while if your baggage gets delayed, you will be reimbursed for the personal effects that you might have to buy for the meanwhile. This can be a huge help as you wait for your baggage to turn up.

By Damilola Faustino

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