7 Good Reasons For Travel Insurance

For thousands of​ years,​ risks have been shared during times of​ tragedy. the​ first formal insurance company,​ Lloyd's of​ London,​ was formed in​ 1769 and their principal concept remains today - to​ gather the​ premiums of​ clients as​ a​ pool of​ resources to​ return to​ clients who experience unexpected but covered events. So,​ that is​ the​ secret really,​ plan for the​ unexpected and make sure you're covered,​ especially when you're travelling. Whether your trip is​ a​ quick one or​ a​ round the​ world cruise,​ there are many good reasons for travel insurance. Here are just 7:

Medical Emergencies: if​ you​ fall sick or​ are injured during your travel,​ your travel insurance will give you​ financial coverage.

Flight Cancellations: if​ your flight is​ cancelled or​ delayed then your travel insurance should help. Depending on​ the​ cover available,​ a​ room for the​ night and even alternative travel home can be included.

Pre-existing Medical Conditions: Even if​ you​ have a​ pre-existing medical condition and it​ flares up while you're on​ vacation,​ as​ long as​ you've advised your travel insurance company prior,​ you​ should be covered.

Damage or​ Loss of​ Personal property - What are you​ going to​ do when your luggage gets stolen? Yes,​ it​ happens,​ all the​ time. There are organised gangs that work in​ airports doing just that. Guess what? you​ need travel insurance.

Loss of​ Cash or​ Traveller's Cheques - You're in​ a​ foreign country far from home. you​ either lose,​ or​ have stolen,​ your entire holiday fund. You're going to​ need help and quick. Again,​ travel insurance is​ a​ must.

Emergency Evacuations - What with global warming and economic pressure more and more holiday destinations are being built in​ potentially dangerous territory. Who would have wanted to​ be in​ Thailand on​ that Boxing Day? Travel insurance will help if​ you​ have to​ get out quick.

Car Crash - it​ can be very difficult driving on​ the​ wrong side of​ the​ road in​ a​ strange country. Accidents happen.

Okay,​ there you​ have it. 7 good and solid reasons why you​ need travel insurance the​ next trip you​ make. the​ other alternative of​ course is​ to​ not take out travel insurance,​ or​ to​ stay at​ home. Now,​ there's an​ idea. But seriously,​ as​ always when taking out insurance,​ especially travel insurance,​ read the​ fine print. Importantly,​ find out before you​ go what is​ excluded,​ not just included. So,​ always read the​ fine print. For example,​ accidental coverage is​ not provided in​ case of​ drunken driving,​ driving under the​ influence of​ narcotic substances etc. Exclusions are also provided for accidents during risky sports like bungee jumping,​ car racing,​ scuba diving,​ white water rafting,​ flying (except as​ passenger in​ regular airliners),​ gliding,​ skiing,​ bike racing,​ diving,​ mountaineering,​ windsurfing etc. the​ list goes on​ (insert for your favourite potentially dangerous sport here). That means in​ case of​ accidents in​ these situations the​ insurance company is​ not liable to​ pay any amount to​ the​ insured.

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