Travelling to a new country is exciting and adventurous as it can expose you to a new culture, climate, and topography. It opens your mind to newer perspectives and allows you to see the miracles the world holds.
Whether you travel for leisure, work, or education, international travel is filled with many uncertainties and risks. Some risks are delayed or cancelled flights, loss of baggage, health problems, etc. In a new country, managing such exigencies, medical or non-medical, can be challenging. This is where Overseas Travel Insurance steps in.
When you buy international travel insurance, the insurer offers coverage for various expenses, including medical and non-medical emergencies. Many large companies buy online overseas travel insurance as a part of their corporate travel policy.
This article will discuss the importance of buying overseas insurance coverage and why you need it.
Importance of Buying Overseas Travel Insurance
Many leading insurers offer international travel insurance online to help people get insured before departing for an international destination. There are many countries that have made it mandatory for international travellers to have an international medical insurance policy of a specified amount to enter their shores.
In such cases, travellers can either buy the mandatory international medical insurance plan or opt for an international travel insurance plan that includes medical and non-medical risks.
Here are some benefits of an overseas travel insurance policy and why you need it while travelling abroad:
1. Covers medical emergencies
When you are travelling to a foreign land, you are unaware of the climatic conditions and the health impacts of the change in food and water. Also, you are not immune to numerous local infections that don’t affect people living there. Hence, the chances of falling ill or catching an infection are higher.
If you fall ill and need hospitalisation in a foreign land, there can be many challenges. Also, the costs of medical care can drain your finances. However, suppose you have an international travel insurance policy. In that case, the insurer bears the treatment and hospitalisation costs and helps you find the best medical facility for your needs.
2. Covers non-medical risks
Overseas travel insurance also covers a range of non-medical risks you can encounter while travelling to a new land.
- Delay or loss of checked-in baggage
- Loss of passport
- Loss of personal belongings, etc.
If you don’t have travel insurance, you have to bear the costs of these situations. However, with a comprehensive overseas travel insurance plan, the insurer ensures that all these costs are also covered.
3. Covers trip disruptions or cancellations
Sometimes flights can get delayed or cancelled. Sometimes you want to cancel a booking at the last minute due to urgent reasons. Insurance companies offer reimbursement for such disruptions and/or cancellations under certain specified conditions. Hence, you can get a certain degree of protection against unplanned cancellations or disruptions.
In simple terms, overseas travel insurance policies have a list of inclusions and exclusions that they adhere to while processing claims. As long as you are filing a claim for an agreed reason, the insurance company will manage the costs and reduce the financial impact of the situation on you. However, if the situation is an exclusion, your claim can be rejected.
In recent years, with the entire world becoming a single large village and social media becoming the window to this world, many people have started travelling internationally for various reasons. While travelling to a foreign country can be fun, it is important to carefully consider the risks you are exposed to.
An international travel insurance policy from a reliable travel insurance provider ensures that you are financially protected against many of these risks and can enjoy your foreign trip worry-free.