Understanding Travel Insurance: A Comprehensive Guide

Buying travel insurance is a great idea to ensure you have no trouble during your travel.

Vacations are usually the most awaited time of the year. However, going on an escapade abroad can turn out to be quite an expensive undertaking if we skip one important part of trip preparation: buying comprehensive travel insurance. 

Numerous insurance packages are on the market, varying in coverage. It is essential to do some research and choose the insurance provider wisely to avoid unexpected expenses. 

What is travel insurance?

Travel insurance is your financial security against various accidents that can possibly happen during your trip.

It can provide you with medical coverage if getting sick or injured. It also comes in handy when your flight is delayed or, even worse, canceled, your luggage gets lost, or if other emergency situations occur.     

You no longer need to visit an insurance agency on-site, as travel insurance can be easily purchased online from your tour operator or from other online services offering insurance packages. 

Why should you consider buying travel insurance?

Sometimes, you may think that your short trip can get by without wasting your money on insurance. In the final count, however, you will thank yourself, as the potential expenses due to emergency situations abroad may significantly exceed the cost of insurance itself. 

Why would you skip your favorite activities when on holidays, such as skiing, diving, kitesurfing, or surfing? Or why should you be left on your own when needing medical treatment in a foreign country, while if covered by comprehensive insurance, you can contact your agent any time an accident occurs. 

Buying travel insurance is, first of all, a matter of peace of mind. Don’t let your holiday time be ruined! Insure your trip and enjoy the time spent in your dream destination to the fullest. 

Is travel insurance expensive?

The cost of travel insurance depends on various factors, including the traveler's age, medical history, destination, duration of stay, and planned activities.

For example, planning to hike in Nepal is undoubtedly a high-risk activity with the potential need to cover medical evacuation. That is why the insurance costs can be higher in that case. 

Nevertheless, when considering regular travel insurance options, it is a matter of a few dollars per day. If you still have some doubts, imagine that it’s less than you would spend on a coffee at Starbucks. 

Which travel insurance to choose?

When choosing between numerous companies offering different travel insurance packages, it is easy to get dizzy. 

You don’t have to search long, though. SIGNAL IDUNA is one of the most reliable and largest insurance institutions on the market. 

Operating on the market for more than 100 years and being well-known for its comprehensive packages, the agency has proven its advantage over other insurance institutions. 

SIGNAL IDUNA insurance coverage

In general, the insurance includes:

  • coverage for all worldwide destinations
  • expenses of medical treatment up to 250 000 EUR
  • medical evacuation
  • costs of chronic disease treatment
  • lost luggage compensation
  • accidents caused by alcohol consumption
  • others (specified in your insurance policy)

Benefits of travel insurance

  • Protection against losses during travel: compensation in case of loss of checked-in luggage or travel documents and any related expenses that may occur; 
  • Compensation for medical expenses: it’s one of the biggest benefits; medical treatment in a foreign country most often means enormous costs; with proper insurance coverage, you can save plenty of money;
  • Peace of mind in case of changes to the trip itinerary: personal circumstances can ruin your travel plans, but thanks to the insurance, you can get your money back; 
  • Personal liability coverage: if by any chance you cause any damage to a third person who requires compensation, your travel insurance will cover it in accordance with the terms and conditions set by your insurance provider. 

Wrapping Up

While none of us anticipates emergencies when traveling, having comprehensive insurance coverage and financial protection against unexpected events can save you a lot of money and stress. 

No matter if you plan a short getaway or a longer international adventure, investing this relatively small amount of money in travel insurance will allow you to focus on enjoying your journey. 

We hope this blog post has convinced you to buy travel insurance. Choose better sleep, knowing you are covered if anything unexpected should happen. 

Dominika Adamkowska
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