Travel Insurance 101
Why should I buy travel insurance and when I just spent money on the trip and all the experiences? Fair point but let us give you some information to consider before you say ‘decline’.
Here are the five key reasons why Travel Insurance is worth the money.
1. Don’t risk losing money due to a trip cancellation.
We all know, life happens. Maybe a family member becomes ill, you hurt yourself a week before the trip, or some other unforeseen incident occurs forcing you to cancel the trip
Unfortunately, sympathetic calls or emails to the travel supplier don’t negate their tough cancellation policies. Most won’t give you any refund at all if you cancel less than x days before departure. If you don’t have insurance, you could lose your entire trip investment.
With a travel insurance plan your trip cancellation benefits can reimburse you for prepaid, nonrefundable trip costs when you must cancel for a covered reason (covered reasons vary per supplier).
Some travel insurance plans also may reimburse 80% of your unused, pre-paid, non-refundable trip costs if you cancel your trip for almost any unforeseeable reason your plan does not already cover. Restrictions often apply, so read your insurance plan documents for details.
2. When a medical emergency occurs while traveling, immediate assistance is invaluable and your traditional healthcare provider may not cover all or part of the costs.
Common medical crisis types we see which are never anticipated are:
- Fractures from falls
- Cardiovascular problems, such as heart attacks and strokes
- Car accidents and scooter/moped crashes
- Pulmonary/respiratory problems
3. Overseas medical coverage can be really expensive, and many foreign medical facilities may not accept U.S health insurance and demand payment for care upfront per the U.S. State Department.
Givventure offers reasonable priced travel insurance and has travel insurance options to cover the cost of medical transportation to a more desired hospital or care facility or an evacuation flight back to the U.S. either on a private plane or public air carrier, pending care needs.
Without travel insurance, the cost of that emergency medical evacuation could reach $20,000 (in touristy areas) or more than $200,000 (in remote, undeveloped parts of the world). These estimates represent just the cost of transporting you to the hospital—not treating you.
4. Travel insurance is more affordable than you may think and there are many options available.
We will present you with travel insurance coverage options, so that you can select the best one you are most comfortable with. Whether it is coverage to protect you, those you are traveling with in case of a medical emergency, trip interruption, or the need to cancel the trip at the last minute. The key is to book and pay for travel insurance within fourteen days of making your initial deposit for the trip so should something unplanned for happens, you have protection to fall back on.
5. Peace of mind is priceless.
Whether you’re planning a solo adventure, fun girls’ weekend, or a grand, multi-generational getaway or gifting a special trip, the whole point is to relax and enjoy the journey. Travel insurance can ease anxiety because you know you have protection in case of unforeseen circumstances, common travel issues, or medical crisis. With travel insurance you are never alone no matter how far from home you are and will have a team by your side.