What is Travel Insurance?
Travel insurances are meant to protect people during trips. They typically cover medical expenses, trip cancellation costs, lost luggage, accidents and other losses incurred while traveling. They also provide coverage for legal liabilities and corresponding expenses. Usually, travel insurance can be purchased while booking a trip to cover the exact duration of that trip. Most travel insurance plans offer coverage for the following:
- Unexpected flight cancellation
- Loss of luggage
- A sudden need for prescribed medication
- Theft of wallet and passport
- Cancellation of the trip due to sickness
- Medical emergency in a foreign country
- Sudden evacuation due to natural calamities
- Personal Accident cover
- Trip cancellation due to terrorist activities at the destination
Travel insurances can be personalized to fit your specific purpose, but its main purpose is to give you the essential peace of mind required while you are out of your comfort zone and exploring the world. Let's look into why travel insurance is very often woth the cost.
Benefits of Travel Insurance
Medical Emergencies
During my trip to Singapore, I was overwhelmed by the spread of cuisines available there. Being a big foodie, I indulged in uncountable delicacies. I particularly overindulged in seafood. I woke up next morning in a terrible state - with severe diarrhea, high fever and feeling extremely nauseous. Self-medication didn't work, and my condition rapidly deteriorated. I had to be hospitalized and treated for food poisoning.
Apparently, the crab meat was the culprit. This little stint with crab meat cost me more than SG$1000, which converted to a whopping Rs.40,000 in Indian currency. My Indian health insurance didn't cover it. However, travel insurance could have spared me the horror of such a hefty expense. Sadly, I hadn't purchased one.
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