When you book a trip with us you’ll notice that travel insurance is compulsory. Even when travelling to the safest places in the world, it is not recommended that you leave your home country without travel insurance, nor book a tour without having it sorted. A few travellers have enquired about this policy, so we thought we’d explain what it is and why you need it.
What is travel insurance? Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or within one’s own country.
Why do you need it? Every person has their own level of risk tolerance, but these days most countries won’t even let you cross their borders if you don’t have travel insurance in place.The need for it is two-fold:
If you go: Depending on your travel insurance policy you will be covered for health care expenses, medical evacuation and repatriation and emergency dental care; as well as cover in case of theft/loss of belongings and cancellations/delays throughout your trip. Auto insurance covers you for any accidents of collisions that may happen as you travel abroad.
If you can’t go: Travel insurance also covers you in the event that you cannot go on your holiday (e.g. a relative falls ill, you are injured before you leave, you lose your job), so you are able to recoup any costs you incurred in preparation for your trip (e.g. airfare, accommodation deposits, etc.).
What kind of travel insurance should you get?Here are a few questions that will help you to determine what kind of travel insurance policy would be best for you:
1. What kind of travelling are you doing? If you are embarking on an action-packed holiday that will include a whole lot of active pursuits like skiing, rock climbing, snorkeling, etc. you should look at policies that provide plenty of cover for adventure activities.
2. What kind of gear are you taking? Are you travelling with a lot of expensive camera gear or sports equipment? Look out for a policy that makes allowances for plenty of belongings.
3. How much coverage do you want? Certain travel insurance companies (particularly in the USA) calculate their premiums according to the overall cost of your trip, while other insurers like World Nomads offer a tiered system that allows you to select the level of coverage you prefer – the higher the tier, the more comprehensive your coverage.
There are certain insurance companies that will require that you take out separate policies for medical, travel and cancellation coverage – we recommend that you opt for an insurer that offers an all-in-one option that takes the guesswork out of playing it safe.
Pro Tip! You may already have travel insurance in place without even knowing it! Check in with your medical insurer and credit card company to see whether your particular plan has any travel benefits associated with it before you get in touch with other third-party insurers.
Do you have any questions regarding travel insurance that was not covered here? Please get in touch so we can help you make sense of it all.