The ash cloud spreading across European skies after the eruption of Icelandic volcano Eyjafjallajokull left the aviation industry in agony and thousands of travelers stranded at airports, with no clue about when they will reach their destinations.
If you had planned a trip to Europe and had to cancel it, you probably lost a lot of money unless you had bought travel insurance. If you bought it before April 13th, then any non-refundable costs for a period of 5 days would have been reimbursed to you by the insurer.
Like the sudden volcanic ash cloud, there could be a snowstorm or heavy rains, which might affect your travel plans. It is surprising that a lot of people make meticulous arrangements for their transport and accommodation, but rarely place travel insurance on their checklist.
Here are a few reasons why you need to take a travel insurance policy:
If you fall ill or sustain any injury during your travel, you will be eligible for immediate medical attention at any hospital or medical facility that is listed as a provider. Medical evacuation is one of the most critical unforeseen events that you need to consider when you are traveling. If you have a Medicare policy, you will need additional insurance coverage from another service provider, as Medicare does not cover medical expenses for trips outside the country.
In case you face travel interruptions, like an urgent call from work or a family emergency, the insurance policy will cover the cost of cancellation. The same applies to delays and missing connecting flights. If your baggage is lost or stolen, you will be reimbursed through your insurance plan. If you are required to appear in court or have been fined in a foreign country, any legal fees that you incur may also be reimbursed.
You can buy insurance from your travel agent or tour operator. Buying insurance for every trip you make can be costly if you are a frequent traveler. Instead, choose a comprehensive policy like an annual insurance plan that will cover a year’s travel.
Travel insurance premiums cost around 4%-8% of the total cost of the trip. The premium also depends on your age, gender and destination. It may seem a little expensive but it gives you the luxury of a hassle-free trip. The next time you plan a trip, make sure you take out a travel insurance policy to deal with any unpredictable circumstances.