Getting to travel really is one of the best luxuries one can partake in, and there is so much variety involved in it as well. We can go solo, with friends, family, or for business, but no matter which way or where you go, it's never the same experience, is it? While the world is still experiencing a pandemic, people refuse to give up their wanderlust. That's a good thing; it shows how resilient we are.
The new normal?
2020 and 2021 were a learning period for all globetrotters with flight cancellations, airlines trying to stay afloat, and many travelers ending up stuck in other countries due to border closings.
Luckily we now have a better understanding of navigating this "new normal." The difference this year is planning. It is the key, but we can't predict everything; that's why it pays to have some extra security.
It's good to have a backup!
Travel insurance has become a pretty sought-after service. Due to Covid-19's impact on the industry last year, many people bought policies. This year, industry experts anticipate seeing a ~%60 percent increase in purchases.
If you are still hesitant about getting travel insurance because you're unsure what you need, then the rest of this article might be the clarification you're looking for.
The benefits of travel coverage
First off, travel insurance works as a contingency if something unexpected happens before, during, or after your flight and vacation. To give a better idea, depending on your provider, the policy you get may include any or all of the following:
Coverage for your luggage
One of people's biggest fears when traveling is losing their luggage. Every seasoned traveler will have experienced this scenario at least once. This includes lost, stolen, damaged, and mislaid luggage (put on a different flight from yours). Missing luggage coverage will kick in by reimbursing you up to the policy limit (~$500 – $1000). Before making a claim, be sure to have a list or receipts for every lost item.
Also, be sure to keep physical and digital copies of your important documents like your ID, medical information, contacts, etc.
Photo by Anna Shvets from Pexels
Canceled trip coverage
As mentioned earlier, flight cancellations have become more frequent so getting coverage for this is a no-brainer. Even if it isn't Covid, other cancellation reasons can include family emergencies, work emergencies, and so on.
A vital add-on is CFAR coverage (Cancel for any reason). Its function is in the name; If your reason for canceling is that you have a constantly changing schedule, CFAR can cover you, whereas a standard policy won't.
Travel Medical coverage
Probably the most critical thing to have in your policy now is travel medical coverage. Typically your regular medical insurance benefits won't cover you if you get sick or injured outside your home country. So if you were to have an accident while trekking through the Australian outback, you'd be glad you had this in your insurance plan.
***As a small tip, if you'd like to get a travel credit card to use for your trip then be sure you clear up any errors in your credit report before doing so.***
So after all this, who needs travel insurance? If you often travel to many places for leisure or business, then it is designed for you. Now before the year really kicks off, get your plan ready, watch for CDC updates, have your back in place, and get ready for new adventures!
This article is written by Money.com. For more information, visit their Facebook here.