Every year, millions of people go on vacation around the world, and they almost never get fully insured while doing so.
Why this happens is sometimes a mystery, but more general research suggests that it is one of the following:
- Trying to save a few dollars at holiday costs
- Being ignorant of what may go wrong and how much it will cost to do something
- Assuming, usually incorrectly, that someone else & # 39; Somewhere & # 39; To cover them
- "Thought" It will never happen to me ".
In a sense, there is nothing wrong with that. It provides that you have properly sized the risk factors and decided that a small amount of money is usually worth the risk, if not thousands, of dollars that can go wrong.
If your decision is fair enough anyway, and that's fair enough – and let's hope your luck is.
Deciding to save money without knowing the risks is risky.
For example, let's not stay with your family at some luxurious vacation home. Ass you may have been unlucky and broke your ankle, which means you won't be able to return home with them for a few days.
So, you lost your plane and will need another one. A member of your family is with you to help you get home on time. All told, it's going to be another flight expense and an extra night at a hotel.
Before you even blink, you may face thousands of dollars in bills. You Sure Do you need insurance?
Someone else is covering you
It is often heard in the context of thinking of people, for example, that the cover of their personal property home on holiday also covers things like their luggage and belongings.
Well, it doesn't depend on it! You don't want your luggage to be lost or stolen, and you claim in your family policy only that your claim is invalid because your belongings were out of your property.
The morals here are clear. Never assume what an existing policy can cover. Instead, check and if in doubt call your policy provider and ask.
If you think about it, travel insurance does not exist if other existing policies have already provided such cover to the policyholder.
Here's a little variable – auto travel insurance that is sometimes available from financial institutions or credit card companies. This is fine but be sure to read the cover details carefully. If it is free, it is very likely to be limited in its protection.
It will never happen to me
In the UK in 2015, approximately 500,000 holiday insurance claims were paid by the travel insurance industry.
If that doesn't make you realize that travel problems aren't just a rare occurrence, then nothing will.
Accidents, aircraft delays, thefts, cancellations for personal reasons, injuries – these things happen. While we all sincerely hope they do not win with you, it is OK to ask yourself how do you deal with it and what do they do if you have no insurance?
Perhaps you are a naturally lucky person and have no doubt that your vacation is over one day when you are on vacation. If you're not quite sure, it is worthwhile to rethink travel insurance.