Importance of travel insurance
1. Medical Emergencies & Evacuation
Hospital costs in other countries may reach $10,000 per day, while emergency transport home for treatment (medical evacuation) can easily exceed $100,000.
2. Trip cancellation
This covers you for costs if you suddenly find you can't continue on your trip for some unforeseen reason such as illness, an accident or a death of a close relative. The important thing to remember here is that for this section to be useful, you have to buy travel insurance when you start booking tickets and not the week before you leave.
3. Baggage & personal belongings
It is arguably the least important reason for us to purchase travel insurance for a loss of personal belongings, but often this is the main reason. Your stuffs can be replaced but your health cannot. So we expect you to take extra care for all your belongings.
Be sure to check carefully your policy benefits and description of coverage for the limits on this cover and exclusions, particularly for cash, high value items and sporting equipment.
4. Personal liability
If you are involved in an accident or accidentally cause damage and are held accountable for it, insurance can cover your liability and legal expenses.
5. Trip Interruption
If some unforeseeable event came up like death, sickness or injury. From the insured's immediate family members or travelling companion that would result to cut short of trip, travel insurance can cover some of your non refundable expenses.