Is Travel Insurance Necessary?

So you are getting ready to take that long awaited (and much needed) trip to Australia, and are pondering whether or not to purchase travel insurance. You reason with yourself saying well I’ll only be gone for six days, I already have coverage with my credit card, or I just don’t have the extra funds for it. So you ask yourself if travel insurance is REALLY necessary? Well then let me ask you, can you really afford NOT to purchase that additional insurance?

Whether it is simply for peace of mind or protection against you valuables. Travel insurance should almost always be purchased simultaneously with your ticket(s). Lets say you are taking a last minute business trip from NYC to LA for a few days, chances are you wont need that additional coverage. Ultimately the choice is your, here are some good reasons that make travel insurance a good idea

* Stolen passport
* Flight cancellation
* Medical emergency
* Lost luggage
* Protection against inclement weather, natural disasters and any terroist incidents
* Your airline goes bankrupt
* Evacuations

When purchasing your travel insurance you will want to ask yourself some questions regarding the nature of your trip and what you may or may not be covered for.

Will I be participating in any hazardous activities on my trip?
Do I have any (serious) pre-existing medical conditions?
How much coverage am I going to get?
What are the policy’s exclusion?
Is customer service provided 24/7?

Shop around for the best price before you buy. The amount of actual coverage needed is really up to you, and how much value you place on your material possessions and services. The main points you will want to keep in mind are personal liability, baggage protection, medical coverage and cash coverage. Travel Insurance… better safe than sorry

By: Farhana Dosani