Wednesday, January 12, 2011

Reasons Why People Buy Travel Insurance

Travel insurance covers for pecuniary losses and
medical expenses you may incur during traveling. It covers for
difficulties such as baggage loss, cancellation of your trip, theft of
passport and wallet etc.

Travel insurance covers financial losses
and medical expenses incurred on the course of travel either within the
country or internationally. You have to collect the insurance card and
show it to the concerned people when you need insurance and you will be
paid for provided you are covered. Depending on the type of policy,
your insurance will cover for loss of baggage, cancellation of your
flight or transportation, your tour agency or airline going bankrupt,
your passport and wallet getting stolen, a medical emergency etc. The
number of people taking insurance during travel has gone up in recent

The main reasons why people go for travel insurance are:

1.Expensive Items in Baggage - A travel insurance policy which covers
loss of baggage would be a great relief in such a case since you would
be paid for most of your financial losses that would be incurred if you
were to lose your baggage due to any reason.

2. Peace of Mind - Since these policies cover for almost all types
of medical expenses and financial losses you face during traveling, you
will be at peace when you are traveling. Most people prefer peace of
mind to constant worry.
3. Less Bother - If you have relevant travel insurance you will
have no difficulty whatever type of emergency you may face. In case you
need to consult a doctor or get your passport and cash stolen, having
an insurance card will make everything a lot easier for you.
4. Costs - Any losses incurred due to thievery or medical costs
would be very high. In comparison, the cost of getting a travel
insurance policy would be low and people prefer that to suffering heavy
losses in case of emergencies.

5. Lack of Medical Coverage in Destination Countries in Their
Current Policy - Many health insurance policies only cover for medical
expenses in their home country. Travel insurance covers for medical
expenses in your country of travel provided you have taken the correct
policy. Since a medical emergency can never be predicted a lot of
people go for this type of policy.

For many reasons, including the reasons mentioned above, travel insurance
coverage is a source of peace and comfort to international travelers.
The current economic climate, constant fear of terrorist attacks, and
lack of trust in the condition existing in their ports of destination
also serve to encourage people in taking insurance while traveling.
Domestic travelers though may not need it since their insurance,
airline, and credit card policies cover for most emergencies.

Article Source:   Ruth_Caldon


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