Travel insurance is one of the many commodities that most travelers don’t know exists. For those that do, it’s a constant debate: Do I need travel insurance for this trip? Where some trips may have a straightforward ‘no’, others aren’t so easy.
Here are 5 signs you need travel insurance for your upcoming trip.
- You’re traveling internationally.
Does your health insurance cover your broken leg in the Alps? For the majority of us, the answer is no. In fact, many American citizens find it difficult to get coverage outside of their home state- let alone internationally. That’s exactly why travel insurance is vital to protecting yourself abroad- especially if you’re doing something on the more adventurous side.
Having travel insurance internationally can not only cover you when worst comes to worst, it can make a bad situation a simply inconvenient one. If the airline has lost your suitcase, your travel insurance may help you replace those items at a fraction of the cost of buying them outright. For many people on budget- that alone is worth the payment.
- You’re traveling for long time periods of time.
If you’re an Australian business professional traveling the greater part of the globe to close deals, you’ll want to make sure that you have coverage. On both a medical and situational spectrum, you need to make sure that you’re getting to your destination with all of your belongings. If you’re traveling light, it may be a good idea to seek medical-only travel insurance. Various providers offer this option as a way for people with chronic illness to travel freely without worrying about whether or not they would be covered in the event that they need to go to the hospital.
- You’re traveling for business.
Flight delays and cancellations are annoying for vacationers, but detrimental for business professionals. Where some on due to the airlines incompetence, others are safety measures based on severe weather conditions. Though you’re typically asked to fly in at least a day early to ensure you’ll be there for the big sales meeting, you can easily find yourself sitting in an airport wondering what to do now that your flight has been cancelled.
Though travel insurance can’t mend a delay or cancellation right away, it makes finding the next flight much easier. Instead of frantically calling the office trying to figure out when the office administrator can book you a new flight, you can call your provider and use your travel insurance to seek a new flight and book it without losing all of the money from your delayed flight.
- You’re traveling with a team.
If you’re a marketing manager or business owner that needs to pack up the team and take them to a conference- it’s a good idea to seek travel insurance for the trip. On the most basic operational level, you want to make sure that your equipment is covered and that the business assets are protected. On an administrative and human resources level, you want to make sure that your employees are protected both medically and situationally.
- You’re traveling with expensive equipment.
Generally speaking, we’re taught to not take many personal possessions on planes or travel. Unfortunately for a lot of business travelers, that simply isn’t an option. Which means you need to make a plan for protecting that equipment. After all, you can’t just cancel your business trip to Tokyo because the airline lost your sounds equipment. Furthermore, if the airlines lose $2,000 worth of equipment- you’re going to wish you had the coverage to help cover some of the costs for replacements.
When it comes down to it, you don’t need travel insurance for every trip you plan to take. It simply doesn’t make sense to get coverage for your trip upstate. On the other hand, travel insurance coverage may save your vacation- Whether that be from flight delays and cancellations or finding a hospital internationally to treat a broken leg.
Take the time to analyze your trip objectively. What could happen? Are those events severe enough to impact my vacation or business trip? If the answer is yes, you’re better off getting the coverage you need before leaving for you trip instead of wishing you did when worse comes to worse.
Do your research when looking for coverage and make sure that you’re working with a provider that can actually cover your needs. The best travel insurance for Australians isn’t going to the same for American citizens and vice versa.
Have you ever used travel insurance for a trip? When do you think it’s necessary to insure your travel? Share your experience in the comments.