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    5 Reasons Why Travel Insurance Is Important

    Why is travel insurance important? Travel may not be a big investment as your car or home, but it still requires a lot of money. Travel involves purchasing airfare, accommodations, or other activities. Most of these activities are paid entirely in advance. That’s where travel insurance becomes important to secure all of this value worth from uncertain travel-related emergencies. Some people still think travel insurance is equivalent to wasting their money, energy, and time.

    If travel insurance is a waste of money then why have Schengen countries made it mandatory for overseas travelers to include it in their travel plans? It’s because, by taking travel insurance, you are covering yourself against unforeseen travel risks such as cancellation of accommodations, stolen luggage, and unexpected medical costs. Embarking on travel whether for the business or leisure includes comprehensive preparations to ensure a safe and fruitful journey. Travel insurance in your planning will safeguard you against emergencies that could spoil your whole trip.

    Here’re 5 more reasons to have travel insurance. After reading this, you will understand the importance of this even though it may tighten your travel budget.

    1.Safeguard Against Unforeseen Medical Expenses:

    Despite how perfect our planning looks before traveling, there are many unforeseen problems we can face which can leave us vulnerable while being overseas. When it comes to medical treatments, nobody holds back. Everybody wants to get treated well, but medical expenses abroad can make you extra frustrated especially a lot of hidden costs involved. Your entire holiday or tour can turn into a nightmare. That’s why it’s important to secure your health or medical condition by having travel insurance. This way you will be qualified for medical exigencies on a cashless basis while being on foreign land.

    Comprehensive travel insurance will enable you to have not only minor out-patient expenses but also extends to life-threatening situations. Some plans also offer services like medical evaluation and air ambulances, etc.

    2. Reimburse Loss Of Belongings:

    Losing your belongings can be the worst nightmare while traveling. Whether you lost your bag, passport, electronic devices, medication, or clothes it could get expensive to replace lost items. Travel insurance can help you cover much of the cost. Like if you lost a passport, insurance can provide resources of a duplicate one or a new one. In the case of missing belongings, insurance will reimburse your loss up to some extent. If your baggage gets delayed, you will be covered for personal effects it can have in the meanwhile. 

    In short, travel insurance can be a huge help in these kinds of worst scenarios and will provide you the reimbursement up to some extent.

    3. Cover Cancellations:

    Let’s say, you paid $8000 for a luxurious one-week beachside hotel reservation. You are excited because it seems like a once-in-a-lifetime opportunity. Unfortunately, The day before checking in, you suffer a serious emergency and you are not simply in condition to go on a luxurious tour. You call the hotel management and explain the situation, but hotel policy clearly states that there are no refunds if you cancel within 14 days of departure. Situations like these demand insurance to cover up your loss.

    Travel insurance comes in handy in these situations. Insurance usually covers serious injuries, death of a close companion, and natural disaster that can happen at your destined vacation location. Insurance also has plans to reimburse canceled flights, cruise tours, special connection vehicles, and many more.

    4. Avoid Personal Liabilities: 

    No doubt, we tend to be extra careful while traveling away from our mother location. Sometimes it doesn’t matter how we were careful, we may get involved in damage being inflicted to a third party. It can be unintentional or our emotions might get in our ways. Whatever the situation will be, either you damage property or person, expenses would have to be covered by you. Some travel insurance companies offer a plan called to cover these kinds of damages. 

    Please go through in detail with your insurance provider. Things get delicate sometimes so that’s why it’s important to clarify what is covered and what is not under your insurance plan.

    5. Mandatory Requirements:

    Many countries have made it mandatory for visitors to have travel insurance i.e. Schengen countries. It’s necessary to do your research before planning your tour. You don’t want to arrive at the immigration counter and get informed that the absence of travel insurance has forbidden you from entering this foreign country. There are times when visas get rejected because of the unavailability of travel insurance.

    More countries are making it essential to have travel insurance because it provides travelers enough security and reimbursement. Making their visit more comfortable and tension-free experience. Travel insurance also provided a shield against fraudulent activities, like losing your debit/credit card. More and more countries are making travel insurance essential because a mentally calm and comfortable traveler is a key essence for the booming travel industry. 

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