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“Expect the best but be prepared for the worst”. While going on a trip it is good to expect the best to happen and wise to be prepared for the worst. Thus, it is advisable to have a travel insurance done before leaving for a holiday. However what type of travel insurance is needed depends on the type of trip one is going on. Consider your trip is one involving ‘low-risk’ i.e. there is very less chance of untoward incident happening then accordingly you need an insurance that is less expensive. If the trip is a ‘high-risk’ one i.e. for example: if you are planning to try bungee jumping, underwater expedition, surfing, skiing etc. then you definitely need an equally good travel insurance. Travel insurance is the insurance that protects the traveler’s holiday costs in case any untoward events occur. Holidays are meant for enjoyment. However future cannot be predicted. Though this sounds unpleasant, there are chances of potential losses that can occur. At such times you might end up paying a fortune. However if you own a travel insurance then this fortune or most of it will be paid by the insurance company whose travel insurance you have bought. This eases the burden. If you are planning a domestic trip or an international trip then you would want to purchase a travel insurance so as to protect yourself from spending a fortune if in case adverse events occur. At times people suffer from medical problems that can flare up while travelling. Under such circumstances there could arise a need for instant medication or even hospitalization. If you are injured or fall sick in some remote area then there might be a need of helicopter to take you to a hospital and this surely is expensive. Travel insurance is of great use during such times. Travel insurance covers medical expenses as well as medical evacuation costs. One can hope that everything during a holiday or business trip will go according to the schedule but one cannot be sure about it. There is a possibility that you might have to cancel your trip due to unavoidable reasons or the means of travel that you were going to use has been delayed or cancelled due to natural calamities or terrorist activities etc. In such cases travel insurance is viable to pay you the losses, like money spent on non-refundable services, which you had to undergo. Imagine what a discomfort it would cause if one lost his/her wallet/purse, got robbed or lost the luggage etc in an unfamiliar land. At such times travel insurance comes to your rescue. Travel insurance facilitates the transfer of money immediately during such times of emergency. It is wise to have travel insurance to be done of all members who are part of the trip. And now-a-days it is not difficult to get travel insurance as one can acquire it online as well as offline. Buying travel insurance online is much easier and consumes less time giving you plenty of time for the preparations of your trip. Author Profile: Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right travel insurance policy online & often shares his insights about the general insurance industry on internet.
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