If you think you are the only one who does not think travel insurance is important, think again!
Most people around you do not understand and care about buying travel insurance before leaving for a holiday. It is simply because they feel it is not worth the money and that nothing will happen as they are really careful and in control of the situations. There are people who even ridicule the ones who buy travel insurance as it is perceived ideal for those who are natural worriers. It is not something which is a part of the planning but something that is rarely paid attention to.
On the other hand, unforeseen events like medical emergency, theft, loss of baggage or any other sudden incident can ruin your entire trip and can even suck the fun out of your trip as the finances you had saved to spend on leisure or as a backup would now be definitely used and that too in an unfavourable situation.
It is best to buy travel insurance instead of falling prey to such situations and losing your financial independence. There are some travel insurance policies which only cover basic necessities like loss of passport, medical emergency, accident cover and trip cancellation. However, you can buy certain add-ons which widen the coverage your policy thereby protecting you from other serious hazards on a trip.
Here are 5 things you should consider before buying a travel insurance policy –
Choose a policy depending on your nature of trip
If you are visiting a foreign country just for once, you can choose a single trip travel insurance whereas if you are a frequent flyer, it is ideal to opt for an annual travel insurance plan. There are dedicated plans for senior citizens and students as well. The premium of your policy will be calculated on the type of policy you chose.
The premium calculated on your policy depends on the number of days you wish to spend on a destination. The premium for a three week trip is obviously more than a trip of just one week.
If you have a medical history in terms of a serious disease or if you consume alcohol or smoke on a regular basis, the premium goes up. A life threatening pre-existing ailment is mostly not covered under a regular travel insurance policy provided you buy an add-on for the same. In most cases, policy for elderly people attracts higher premium due to the age factor.
If your destination is known to be a high risk zone or is famous for adventure activities, the premium of your policy goes up as you are perceived to be in a risky area.