Travel Insurance – What it is and Why You Need It

When you go traveling, there is always the possibility that something could go wrong. Perhaps you could contract a tropical disease, or slip by the swimming pool and break your wrist? Or maybe the airline could lose your bags, or your travel destination could be destroyed by an unexpected hurricane? Anything could happen!

Singapore - Riverside Point
Image: flickr.com/photos/drriss

Of course, these are worst-case scenarios and they are not a good reason to avoid travelling because they are not likely to happen. However, the smart thing to do is to be protected just in case – in the event that something does go wrong. That is why having travel insurance is one of the smartest things that you can do before you go traveling.

What is Travel Insurance?

Travel insurance is a specialist type of insurance that is designed to cover you in case something goes wrong when you are travelling. Most types of travel insurance will cover medical expenses if you are injured or ill, as well as any other losses that are incurred while traveling such as losing your luggage. Travel insurance might also cover the financial default of your travel supplier. Your travel insurance would compensate you if your wallet was stolen, your Singapore airlines flight is cancelled, if your camera breaks or if your family member dies and you need to cut your trip short and come home.

Of course, the coverage is different depending on the type of holiday that you are on and you might need to buy more coverage if you will be partaking in sports or such as scuba diving or skiing or if you have pre-existing conditions.

What to Look for When Buying Travel Insurance

There are so many different types of travel insurance to choose from, so think about where you will be heading and what type of coverage you will need. If you are going on a short two week holiday you will only need coverage for that time – but if you are going on a long-term backpacking trip you will need a 6-month or one-year travel insurance plan. Flight Centre Hong Kongoffers travel insurance for Hong Kong holidays, so take a look at the different policies that they have to choose from. When you are buying travel insurance, it is important to ensure that your policy covers the following:

  • Coverage for your electronics, especially if you are traveling with a laptop and a nice camera.
  • Coverage for injuries and sudden illnesses
  • Coverage for cancellations, such as the hotel bookings, flight and transportation
  • Coverage for lost, stolen or damaged items such as baggage, passports, jewellery, etc
  • Coverage for a disaster or emergency in the country you are visiting, which causes you to come home early
  • Coverage for if the travel company you have booked with goes bankrupt

Take your time and look for a policy that will cover all of these bullet points, so that you know that you will be covered no matter what happens. Always read the fine print and don’t be afraid to ask questions to ensure that you understand what you are buying.

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