7 Reasons Why You Need a Travel Insurance

Are you someone who’s used to clicking the ‘No‘ button when asked if you would like to add travel insurance while booking a flight? Have you not felt the need to get travel insurance in the many times you’ve gone out of the country? If your answers to these two questions are YES, you’re not alone.  I, too, have long thought it’s unnecessary and just a means for airline companies to earn more.  I’ve always had no money for it. But guess what? I was wrong all along and I learned it the hard way during my trip to Vietnam. I had a motorcycle accident while crossing Hai Van Pass from Hue to Hoi An and end up spending a part of my travel money on treating minor injuries in a hospital and boy, was it not cheap!

So what does it have to do with travel insurance? A lot. Travel insurance is a type of insurance that provides protection to travelers while they are abroad. Still not convinced? Here, let me give you 7 reasons why you need it.

1. To cover medical expenses

Now more than ever is the time when we need the means to cover our medical expenses. With COVID and many viral diseases out there, we can never be too sure. If you get sick or injured while traveling, the cost of medical treatment can be very high, especially if you are in a foreign country. Travel insurance can help cover the cost of medical treatment, as well as evacuation to a more suitable medical facility, if necessary. This can provide peace of mind and ensure that you receive the medical care you need without worrying about the financial burden.

2. To protect against trip cancellations or interruptions

One of the main reasons to purchase travel insurance is to protect against trip cancellations or interruptions. If you need to cancel or interrupt your trip for a covered reason, such as illness or a natural disaster, travel insurance can help reimburse you for non-refundable costs. For example, if you have to cancel your trip due to a sudden illness or injury, it can help compensate you for the cost of your flight, hotel, and other non-refundable expenses.

3. To cover lost or stolen luggage

Losing your luggage can be a major inconvenience, especially if you are traveling for a longer period of time. If your luggage is lost or stolen while you are traveling, travel insurance can help compensate you for the cost of replacing the items. This can help alleviate some of the stress and frustration that comes with losing your belongings while traveling.

4. To cover trip delays

Delays can be a common occurrence when traveling, whether it’s due to a natural disaster or a flight delay. If your trip is delayed for a covered reason, such as a natural disaster, travel insurance can help reimburse you for additional expenses, such as meals and accommodations. This can help make an unexpected delay more bearable by providing some financial assistance.

5. To protect against travel-related financial default

Another important reason to get travel insurance is to protect against travel-related financial default. If a travel supplier (such as an airline or tour operator) goes bankrupt, travel insurance can help reimburse you for the cost of your trip. This can be especially important if you have prepaid for a trip and are concerned about losing your investment.

6. To provide assistance while traveling

Many travel insurance policies include assistance services, such as emergency medical assistance, legal assistance, and travel assistance, to help you while you are traveling. These services can be extremely helpful in the event of an emergency or other unexpected situation, as they can provide you with the necessary support and resources to handle the situation.

7. To give you peace of mind

Finally, having travel insurance can give you peace of mind and allow you to relax and enjoy your trip, knowing that you are protected against unexpected events. Whether it’s a medical emergency, a trip interruption, or lost luggage, it can provide you with the necessary financial protection and support to help you handle any situation that may arise while you are traveling.

Where Can You Get Travel Insurance?

Most local insurance companies available in the Philippines like AXA and SunLife offer travel insurance. I, personally, have AXA  for both my life and medical insurance that comes with an investment fund. But when it comes to travel insurance, I trust no other than SafetyWing. It’s insurance made by nomads for nomads like me and you. Who else knows our needs better than our fellow travelers? If you don’t believe me then allow me to tell you more about it.

• Provides both medical and travel assistance: Many insurance companies offer medical and travel insurance separately. SafetyWing has both under one policy to make sure that you’re covered during unforeseen situations such as getting ill, accidents, lost checked luggage, natural disasters, etc.
• Flexible and can be used here and abroad: It can be purchased prior to your departure or during your trip. You can travel to multiple countries with just one policy. The best thing, you can also use it in your home country in case you suddenly decided to take a short break and go home.
• Remote Health: This type of insurance is specially made for remote workers like me. Remote Health is fully global, meaning whether I’m in my home country, a new country, or traveling nonstop, my health needs will always be covered.
• Border information: SafetyWing also provides travelers with a useful resource where they are sent alerts regarding travel restrictions, containment measures, and vaccination information around the globe through Borderless.

There you have it, lovelies. No matter which travel insurance you end up getting for yourself, the most important thing is that you’re covered and protected from anything that might happen during your trip. Share your thoughts in the comments. Until next time. Ciao!