Most people think of emergency medical services when traveling and not protecting their stuff. And on the other side when traveling you're probably more concerned about if you remembered to pack your toothbrush than insurance.
Maybe it's time to broaden your horizons! Travelers insurance covers anything from emergency medical service, protecting your baggage from theft or damage, cancellations, supplier insolvency, car rental, and personal liability. In the event of serious injury or illness, insurance payouts can run into hundreds of thousands of dollars. A Canadian friend was visiting Washington State where she had to go to the emergency room; it ended up costing her family $5,525! I’m sure the trip costed less than the trip to the emergency room.
Reasons to get travelers insurance:
- Health Treatment and Evacuation
- Cancellation of Connections
- Losing Your Documents Abroad
- Theft and Pickpocketing
- Illness Before Your Trip
- Your Travel Provider Goes Out of Business
- Adventure and Sports Coverage (not all cover this)
- Terrorism or War
- Lost Baggage.
A great policy will always include the following provisions:
- Cover most countries in the world. (double check for overseas)
- Some coverage for your electronics (most companies only cover a small amount, usually up to $500 USD as part of their basic coverage).
- Cover injury and sudden illnesses.
- Twenty-four hour emergency services and help (you don’t want to call to be told to call back later).
- Cover lost, damaged or stolen possessions like jewelry, baggage, documents, cameras, etc.
- Cover cancellations such as hotel bookings, flight, and other transportation bookings if you have a sudden illness, death in the family, or some other emergency.
- Cover emergencies, strife in the country visited, etc., that cause you to head home early.
- Policies should include personal accident coverage.
- Cover any legal expenses that may be incurred.
- Have financial protection if any company you are using goes bankrupt and you are stuck in another country.
Make sure you do your research and pick the right insurance plan for you, there are a lot of options out there. This is a billion dollar business and often, in the fine print, you’ll find that plan isn't as good as you thought. If you make a claim, remember that any travel insurance company, no matter how great, is there to make money and (speaking from experience) will try to avoid paying out as much as they can. So make sure you have everything carefully documented on your altoserv account.