Why Do I Need Travel Insurance?
Many people do not feel as if they need travel insurance. Like a lot of insurance, it is best not to wait until you regret not having it before researching and purchasing it. Travel insurance covers a wide range of travelers, including traveling students, business and leisure travelers, adventure travelers and cruise travels. Insurance can be purchased on a per trip, temporary, basis, usually at the time of booking, or continuous insurance can be purchased from a variety of providers. Additionally, some companies, such as the Australian MyCover Travel Insurance agency, will cover residents who are traveling worldwide.
Most medical insurance does not include traveling coverage. If you are injured or have some type of emergency while traveling without travel insurance, you will be responsible for all costs, directly out of your pocket. In these times of economic hardship, money can be hard to come by, especially in the large amounts having such an accident or emergency would incur.
Several official government agencies, including the UK Foreign & Commonwealth Office, and U.S. Department of State recommend purchasing travel insurance. According to the UK Foreign & Commonwealth Office, the cost of emergencies while traveling without travel insurance can range from 12 to 45,000 pounds. Some of these costs may include a scheduled flight, stretcher and Doctor escort from Australia or an air ambulance from USA’s East coast. They very expressly point out that the the British Embassy or High Commission will not pay for these expenses. Additionally, the U.S. Department of State points out that the Social Security Medicare Program does not provide coverage for hospital or medical costs outside of the USA. Additionally, they estimate that the starting cost for emergency evacuation to the United States is around ten thousand dollars.
Travel insurance typically covers a wide variety of possible expenses. Some of these expenses include loss, theft or damage to personal possessions, money and travel documents, medical expenses, emergency evacuation/repatriation, accidental death, injury or disablement benefit and legal assistance. Typically, travel insurance will not cover pre-existing medical conditions, injury or illness due to drug or alcohol use, travel to high risk countries and risky sports. However, sometimes these items may be covered by separate insurance.
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