Traveling is an expensive affair. Whether it is for business or pleasure, we spend large amounts of money on air fares, hotel bookings, shopping, as well as carry various valuables on our trips. This is why Travel Insurance is a requisite as it protects us from financial losses in a foreign country.
There are several types of travel insurance. Single trip travel insurance plans are preferred for family holidays. Multi-trip travel insurance plans are useful for businessmen. Besides financial protection, travel insurance provides complete peace of mind while abroad. It offers compensation in case of loss of passport, trip delay / cancellation, baggage loss / delay. Also, in case of trip delay, a travel insurance plan offers cash relief for food and stay. Many travel insurance plans also provide compensation during plane hijacks.
Travel insurance acts as a shield for us on international grounds. It helps us financially in case of hospitalization, medical expenses and airfares of close family members as well as funeral expenses. Many travel insurance plans provide benefits for dental care as well. Generally, travel insurance plans do not bear medical costs of injuries / death that were caused due to participation in dangerous sports or other such activities.
Most importantly, travel insurance is necessary because they provide protection against personal liability. If a person is injured or property is damaged because of you, then one can make a claim against you. Here, travel insurance rescues us from legal liability abroad. Another benefit of travel insurance is that it protects and compensates the insured for repatriation or evacuation caused due to riots, wars, etc.
While buying a travel insurance plan, check that the plan covers all your needs and requirements. Also, another important requisite is that your insurance company should provide a 24-hour emergency assistance on all days. Travel insurance can prove instrumental in making your journeys safe and secure. So, safeguard your trips with a travel insurance plan and get assistance anywhere around the world.