Why
you need travel insurance
Unfortunately, things don’t always go
according to plan. Travellers who experience
difficulties overseas may find themselves relying on family
and friends for financial assistance or saddled with significant debts if they
don’t have travel insurance. Others may end up out of pocket because they
skimped on their cover.
Travel insurance is an all-purpose insurance
for a variety of travel-related mishaps. It can provide a level of cover for
overseas medical expenses, lost or stolen belongings, trip cancellations and
personal liability.*
Chances are you won’t need to make use of
your policy – but you’ll be extremely glad you have it if you do!
How
We Found the Best Travel Insurance
To begin, we searched the web for all the travel
insurance providers we could find that sell individual policies nationwide
(excluding sites like InsureMyTrip and Squaremouth that simply compare quotes).
Travel coverage comes in many shapes and sizes — some providers sell only
medical, while others let you customize your plan around a few specific risks.
But we felt that to truly be the best, a company had to offer a policy with all
five major coverages, even if you don’t end up buying them. They are:
- Trip Cancellation/Interruption. Reimburses you for pre-paid, non-refundable expenses such as flights, hotels, and tours, should you need to cancel your trip or cut it short
- Emergency Medical Care. Covers the cost of treatment for a medical emergency while traveling
- Medical Evacuation & Repatriation. Arranges and pays for medical transport to a treatment center, or to return you home if necessary
- Baggage/Personal Item Loss and Delay. Covers lost, stolen, or damaged bags and personal items; reimburses for clothing, toiletries, and other essential items if baggage is delayed
- 24/7 Worldwide Assistance. Help to deal with claims, medical emergencies, and other travel-related assistance during your trip
- In all, 22 companies met these criteria, so our next step was to compare their relative strengths in terms of financial stability and coverage details.
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