Why Travel Insurance is a Must-Have for All Travelers
When planning a trip, many of us think that we’ll just disappear for a short journey without any issues. However, life can be unpredictable, and medical emergencies, flight delays, or cancellations can happen to anyone, anywhere. According to Will McAleer, Managing Director of the Travel Health Insurance Association, “Sometimes it’s these quick trips that can lead to a significant medical emergency.” Being prepared with travel insurance can help you deal with these unexpected situations.
The Importance of Travel Insurance for Young Travelers
Younger travelers often skip travel insurance, thinking that they’re invincible. However, this can be a costly mistake. Steven Harris, a licensed insurance broker and expert at Lowestrate.Ca, notes that “if I went back to my younger self, there was a naivety not to understand what could happen and what the financial consequences could be.” Travel insurance premiums are usually relatively low for 20-year-olds, and it can save them from devastating costs of international healthcare.
Why Many Canadians Skip Travel Insurance
A recent survey by the Travel Health Insurance Association found that almost a quarter (23%) of Canadians would travel abroad without travel health insurance. Gen Z (ages 18-28) is particularly likely to skip travel insurance, with 47% saying they wouldn’t get it. This can be a risky decision, as medical emergencies can happen to anyone, regardless of age.
Types of Travel Insurance
There are two main types of travel insurance: medical and emergency, and trip cancellations and interruptions. Medical and emergency insurance can cover costs such as ambulance rides, hospital visits, and even commercial flights back home for continued care. Trip cancellations and interruptions insurance can help you recover losses if your trip is cancelled or interrupted due to unforeseen circumstances.
Choosing the Right Travel Insurance Policy
The right travel insurance policy depends on your plans, including your destination, activities, and the length of your trip. It’s essential to research and compares different policies to find the one that best suits your needs. Don’t let the cost of travel insurance deter you – it’s a small price to pay for the peace of mind that comes with knowing you’re protected in case of an emergency.
Conclusion
In conclusion, travel insurance is a crucial aspect of planning a trip, regardless of your age or destination. It can help you avoid financial ruin in case of a medical emergency, trip cancellation, or interruption. Don’t make the mistake of thinking that you’re invincible – invest in travel insurance and enjoy your trip with peace of mind. Remember, it’s always better to be safe than sorry, and travel insurance can be a lifesaver in unexpected situations.