While you’re packing, remember your travel insurance

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Your travel insurance should be considered number one on your list of things to pack. When travelling abroad, it is common to forget that incidents leading to medical intervention may occur. In all fairness to such emergencies, when your flight takes off, possible health risks don’t remain on the ground. But your limited insurance cover does, that is why opting for a travel insurance policy to cover emergencies beyond the shores is a top priority.

Travel insurance covers the following:

  • Illness or accidents incurred
  • Accidental death
  • Journey cancellation, curtailment or extension
  • Travel delays
  • Personal liability
  • Lost or stolen luggage and travel documents

Travel insurance is most handy when bridging the financial gap left wide open by varying currencies because, although the policy is purchased locally, all expenses incurred internationally will be in foreign currency. Would you want to pay that out of your pocket?

It’s important to note that there are two major classes of travel insurance:

  1. International travel insurance

International travel insurance is purchased for international trips through an insurer in your country of residence. In other words, the country you will be returned to after a serious medical emergency, or the country you will have to travel to if a family member became very ill. When it comes to healthcare arrangements in a foreign country, they may not apply to non-residents, therefore you will need insurance, otherwise you will have to pay out of pocket which could be a massive financial knock.

  1. Domestic travel insurance

When you are travelling locally, you can buy domestic travel insurance. These policies are cheaper than international policies because they do not include medical cover, as it is assumed that you, as a permanent resident, have other arrangements in place, for example, medical aid. Domestic travel insurance aims to compensate you for travel-related problems such as cancellations and closures.

Travelling and seeing the world is all about freedom, and topics such as travel insurance could be seen as taking the fun out of it. However, having travel insurance could make or break your trip. You can’t put a price on peace of mind, and when purchasing travel insurance, you can rest assured that you will be taken care of financially in the event of an emergency.

Make sure to speak to one of our Stepp professionals today in order to decide on which travel insurance option will be the perfect fit for you and your trip.

This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your adviser for specific and detailed advice. Errors and omissions excepted (E&OE)