Is travel insurance worth its money? Or have they little or no added value? Not an easy decision to make…In a few months, the harsh winter will be over and we will be ready to pack our bags again for a carefree holiday.
In order to be completely at ease abroad, tour operators and insurance companies recommend travel insurance. And if you can believe their advertising, such insurance is even indispensable. But is it really? Travel insurances cost a lot of extra money and so it’s no wonder whether you doubt that travel assistance insurance is a waste of money or not. Here are the pros and cons of travel insurances.
Pro: Medical coverage
Getting sick abroad or having an accident while traveling is not uncommon. During your travels you are probably more active, meaning there is more risk in getting injured as well. Think of skiing, hiking, cycling or even driving with your car. The same goes for getting sick. It’s not because you are not at home, that you won’t get sick. Medical costs abroad can increase significantly and can be much higher in some countries than in your own country. These costs are often not covered by the health insurance in your own country.
Getting a travel insurance is recommended if you have a medical history. You do not want to risk losing, for example, medication and spending a lot of money to get the right medication abroad.
Pro: Covers unexpected surprises
Losing your wallet, a family member at home that gets sick, search and rescue costs, … traveling can have plenty of unexpected surprises. When you lose your wallet, your travel insurance will give you a money advance. If you get lost in the mountains, rescue costs can be very expensive (especially Switzerland), so in this case you would be very happy to have travel insurance. When having an accident or getting sick, your repatriation costs will be covered as well.
Some travel insurances even cover natural disasters as well. If you are obliged to stay longer in your destination, these costs will be covered by your travel insurance as well.
Another unexpected surprise can be when you would be prosecuted or would need a lawyer abroad. Even in this case, travel insurance will cover it.
Con: Be aware of what is covered
Travel insurances can be quite different. There are different types of insurances so you should always check (and double check) what is covered and what is not. What types of medications are covered? Is luggage theft covered? Damage to your rental car? And if so, how much do you need to pay yourself?
Also, check if some things aren’t covered twice. It’s not necessary to pay for credit card theft when your credit card company already covers this.
So, what’s the deal with travel insurances?
Travel insurance can offer you a care-free holiday and is recommended when you travel for a longer period (three days or more). Just check which travel insurance suits you best and covers only the things you need.