Travelling is expensive, especially if you are travelling abroad. And therefore, buying a travel insurance policy at an additional cost may seem like a burden to many. So it’s not surprising that some of us may want to skip buying it altogether. However, one can’t deny the fact that travel insurance is not an expense, it can be likened to an investment. By spending a relatively small amount of money on a policy, you can secure financial protection against huge risks like trip cancellation, theft of baggage, illness or injury during the trip to name a few. However, if you are planning to skip travelers insurance, here are a few scenarios where can you skip it and when you should not:-
When to Skip Travel Insurance
If Your Credit Card Offers Travel Insurance
Before you buy a policy, just check if your credit card offers it as a perk. Several credit cards, especially travel credit cards offer travel policy that offers coverage against travel uncertainties such as trip cancellation, loss of baggage etc. If the travel insurance coverage offered by your credit card is thorough, you don’t have to buy anything extra.
If The Travel Insurance is Just for Your Flights
If your flight tickets cost thousands of rupees, it might be tempting to buy a trip cancellation or trip delay insurance for your flight tickets. However, only-flight insurance policies are generally not worth the money as you’re usually at liberty to book the next available flight going to the same destination as yours. In such a scenario, having it is not going to make much of a difference.
When Not to Skip Travel Insurance
When Travelling Abroad
International trips are always expensive. Right from flight tickets to hotel bookings and everything in the itinerary comes with a substantial cost. Moreover, medical expenses are exorbitant in USA and European countries. If something were to go awry during your trip, your budget could be greatly affected in case you don’t have a policy. Hence, buying a foreign or overseas travel insurance is a must if you are travelling abroad.
When Headed for Cruises
If your travel plan involves a cruise, it best to take up a travel policy upfront to avoid higher risks. Hurricanes and hijacks are some of the risks that could occur during a cruise. Also, ensure that the travel policy you do have covers such natural/man-made disasters.
Regardless of the risks of travel, many travelers still ignore buying travel insurance. Getting a policy is the ideal way to protect your finances from the risks you could encounter during your trip/vacation. Travel insurance plans offer wide coverage against risks such as trip cancellation, trip delay, hospitalization, personal accident cover, financial protection against home burglary and much more. So buy Bajaj Allianz travel insurance online with Finserv MARKETS and don’t let anything keep you from enjoying your dream vacation!
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