Do I really need travel insurance?
If you’re on vacation and something unexpected happens, your travel insurance cover could be your protection from expensive costs like medical bills. I know it’s not the fun part of booking a vacation, but if something unexpected happens you’ll be thanking your lucky stars that you had some cover.
Why is travel insurance important?
If you or one of your family members has an injury during your vacation. Your emergency medical treatment in another country can be very expensive. You also want to keep in mind that depending where you go, public hospitals could be very basic indeed.
I’m from London, and according to the Association of British Travel Agents (ABTA), 1 in 5 Brits has needed some kind of medical treatment while abroad. However, reports say that as many as 10 million holidaymakers travel without the right travel insurance, and many with no travel insurance at all.
The average cost of a medical claim has risen by 40% in recent years, an average bill is around £1,300. That said, it’s not uncommon for medical treatment to run into thousands. Take the USA for example, a hospital trip for a stomach bug alone could set you back £100,000.
Yes that’s right, £100,000 GBP | $130,000 USD | $175,000 CAD | € 115,000 EUR. Travel insurance doesn’t seem so unecesary when you see that does it?
What Policy Should You Choose?
There are many types of cover you can choose and they options depend on what your needs are. The Typical options you’ll find from most companies like my favourite World Nomads are the following
- business travel
- single trip
- annual
- backpacker travel
- couples
- family
- group cover
- specialist travel for over 65s
You have to pay very close attention when booking your trvel insurance to be sure all the likely scenarios are covered. For example, if you’re skiiing make sure it’s in your policy. Also, if you’re pregnant or have pre-existing medical conditions, make sure your condition is covered.
So, there you go… If you ever find yourself asking Do I really need travel insurance? The answer is YES!!
I recommend World Nomads for your travel insurance. They’re a great company and very helpful.
Until next time
David – for the Outlook Global Project
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