Do I Really Need Travel Insurance?

Whatever your plans - a romantic city break, a girlie getaway, a lads weekend, the family holiday of a lifetime or embarking on a solo adventure - alongside your list of what to pack, what sights to visit and how much currency to exchange, have you sorted out your travel insurance?

When planning an exciting trip or holiday, many of us overlook the importance of travel insurance. While you may be thinking "everything will be fine, I won't need travel insurance", what may seem like an unnecessary additional expense could provide you with essential protection and peace of mind should the unexpected happen during your travels.

Before you take off on your next adventure, let's have a look at the reasons why travel insurance is necessary and the benefits that it could offer you.

Medical Emergencies and Health Coverage

One of the most important reasons to have travel insurance is to protect yourself again unexpected medical emergencies when abroad. If you get an injury, come down with an illness or require urgent medical attention in a foreign country, unlike in the UK, you may find yourself faced with an exorbitant bill for health care.

Travel Insurance often includes cover for medical expenses, emergency medical evacuation and repatriation.

These benefits can prove to be invaluable should you find yourself in a situation where you suddenly require medical care.

Trip Cancellation or Interruption

A variety of unforeseen circumstances can disrupt travel plans, such as family emergencies, sudden illness, airline strikes or natural disasters.

Travel insurance that offers cancellation or interruption cover can help protect the money you have paid for your trip by reimbursing you for non-refundable expenses like flights, accommodations and tour bookings. This should help you recover any financial losses and make alternative arrangements.

Lost or Delayed Baggage

Most people know someone who has experienced an issue with their baggage when travelling - be it delayed, lost, stolen or damaged, it can be a major inconvenience. Many travel insurance policies include cover for these events, and may provide compensation for essential items. This can be particularly useful if you travel with valuable belonging or rely on specific items during your trip such as business essentials of sports equipment.

Travel Delays

It is a common occurrence in travel to encounter flight delays and cancellations. If your travel insurance policy offers this level of cover, you may be reimbursed for additional costs, for example meals, accommodations and transport, incurred as a result of the unexpected delay.

Travel insurance can provide you with help and financial protection when inconvenient situations happen, allowing you to continue your journey smoothly.

Personal Liability

Some travel insurance provide personal liability cover. Should you find yourself in a situation of accidental damage, or causing an injury to others during your trip, this cover could prove to be essential. Especially in a case where compensation claims or legal expense arise.

Emergency Assistance and Support 24/7

Travel insurance often provide their policy holders with access to emergency assistance services, including 24/7 professionally staffed helplines that you can contact if you need help for various situations. From help with lost documents, guidance during an emergency or medical advice, by having travel insurance you can access immediate support and expert assistance wherever you are in the world.

Peace of Mind

By taking out travel insurance you will be able to enjoy your trip without undue stress or worry, safe in the knowledge that you are protected against unforeseen circumstances. Offering reassurance that you are financially safeguarded in case of emergencies or unexpected, perhaps one of the most important benefits of travel insurance is the peace of mind it provides.

Although taking out travel insurance may seem to be an optional expense, the benefits and protection could prove to be invaluable. From trip cancellations to lost baggage and travel delays to medical emergencies, a travel insurance policy could provide you with essential cover and support throughout your travels.

With the right travel insurance policy for your trip, you will have financial protection and access to crucial services that may make a significant difference if you face challenging situations abroad.

Perhaps most importantly, you will also have peace of mind!

Before you head off on your next trip, consider the uncertainties involved, and the potential risks and compare them against the cost of travel insurance.

Each adventure is unique, and the level of cover you need may vary. By exploring different travel insurance options and comparing policies you will be able to find a plan that is most appropriate for your travel plans.

It may seem a wasted cost, but remember, by investing in travel insurance, you are also investing in security, safety and well-being throughout your travels.

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Editorial Disclaimer: This article was updated 20.05.2023

Opinions expressed here are the author's alone, and not those of any bank, credit card issuer or any other company. This article has not been reviewed, approved or otherwise endorsed by any of these organisations.

NB: The information on this page does not constitute financial advice, please do your own research to ensure that the product / service is right for your individual circumstances.