Who Need Travel Insurance And Why?

By Author: Pranav V Sharma
Total Articles: 141
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Sceptics will ask an elementary question and that is, “Who need travel insurance?” It is one of the questions that are asked in order to skirt the issue or in worst cases to put the issue on to the back burner. The answer to this seemingly important and simplistic question is also simple, yes. We all need it, each one of us who plan to undertake an overseas trip in the near future for various reasons, be it for business, leisure or higher studies. It is an absolute necessity in light of the fact that it can alleviate immense suffering of people who fall on the wrong side of a given situation.

It’s not just seemingly obvious things of which one must be cautious of, as there is a hoard of things that can put you on harm’s way resulting in loss of your composure, health and money. There one must have an effective travel insurance policy in order to undertake a trip with a complete peace of mind and put aside worries of an unfortunate event derailing your plans.

Few things that can go wrong while you are on a trip are mentioned below.

• Cancellation of flights and delays.
• Theft of your wallet ...
... which may contain valuable and essential documents such as passport, visa.
• Cancellation of your trip due to illness or for any other personal reasons.
• You may fall ill in the country of your destination and require immediate medical attention.
• You may get involved in an accident and require medical attention or in worst case scenario need to be evacuated back to the home country.
• Voluntary cancellation of your trip due to a travel advisory issued against the destination of your choice.

These are some of the uncertainties that may befall you, however the list is endless and this must be treated as a nucleus. The prospect of being stuck in an alien land with practically acquaintances is horrifying indeed. The desperation of being helpless is very difficult to come to grips with. Therefore it is imperative on all of us to try and control the well being of oneself to an extent that it may be possible. Apart from being diligent and careful during the trip the only other effective solution is to have a good travel insurance policy.

But getting a good travel insurance policy from among multitudes of options is in itself a herculean task by any standards. The key to a best travel insurance policy is to strike a delicate balance with the coverage and affordability aspect of the travel insurance plan.

One must see to it, before signing on the dotted line, that all common occurrences are covered and there are minimum exclusions whatsoever. While at the same time must make sure that the price that they are paying for that cover is not overtly exorbitant. It is only then that you will be able to get value for money for your travel insurance policy and be hassle-free.

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Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right travel insurance policy & often shares his insights about the general insurance industry on internet.