Backpackers Travel Insurance

Travelling and taking holidays can be a lot of fun, but it can also be scary. If something goes wrong, you may find yourself in a foreign land amongst foreign people with no idea where to turn for help. Travel insurance prevents this from happening by helping you through all of the unforeseen circumstances that may befall you on a trip. Travel insurance can help cover expenses if you become ill or injured, lose your luggage, have a car accident or have to change your plans due to weather or illness.

There are two basic types of travel insurance: annual travel insurance and single trip travel insurance. Annual travel insurance is purchased annually and covers all of your travels for the entire year. Single trip travel insurance is purchased at the beginning of each trip and is only good for that trip.

There are benefits and drawbacks associated with each type of travel insurance. The following two sections will address the pros and cons of each.

Pros and Cons of Annual Travel Insurance

When you purchase annual travel insurance, you pay a one-time fee. This fee covers the cost of the insurance for the whole year. If you travel a lot, this price is almost always less than you would pay for multiple single-trip policies. But the price for annual travel insurance is also more than you would pay for one or two single-trip policies. So you need to have a clear idea of how often you will use the insurance before you spend the money for it.

Annual travel insurance is ideal for people who travel a lot. Business professionals, people with family living abroad, and families with holiday homes usually benefit the most from such a policy. Students who have to travel back and forth from school may also benefit from this type of policy.

Pros and Cons of Single Trip Travel Insurance

Single trip travel insurance is the most cost effective way to purchase travel insurance if you only have need of it a couple of times a year. It is spontaneous. You can purchase travel insurance prior to any trip even if it is spur of the moment. It is also inexpensive. Single trip travel insurance normally costs about four to seven percent of the entire cost of any prepaid trip.

If you make a lot of spontaneous trips, however, you could end up spending more than you bargained for if you purchase a separate policy each time you leave town.

Both annual and single trip travel insurances offer the same coverage. The only real discrepancy between them is cost. Therefore, you need to choose the most cost effective way to purchase the insurance that best meets your needs. If you have any doubts, talk to a travel agent. They will be able to help you compare prices and coverage options. The most important thing is that you always travel while insured. You need to be prepared for everything that may happen.

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Going on a holiday is an exciting time. Holidays allow you to see things, experience things and get away from the stress and worry of everyday life. Unfortunately, stress and worry often come along for the trip. Unforeseen circumstances can end up costing you a lot of money, stress and aggravation if you are not fully prepared for them. But how can you prepare in advance for something that you don’t know is going to happen? Simply put: travel insurance can help you plan for anything that might befall you while on holiday.

Travel insurance is not expensive; it normally costs about 5 to 8% of your holiday’s prepaid cost. Not purchasing travel insurance, however, could cost you much more. The following are just a few ways that travel insurance can protect you:

• Injury – The number one unforeseen circumstance that befalls many travellers is injury. People often try new things and become more adventurous when they are on holiday. They are also in unfamiliar surroundings which makes it easier for an injury to occur. Remember; most medical coverage does not pay for medical treatment received while abroad. You will have to pay for these expenses out of pocket if an injury occurs.

• Illness – The same is true if an illness occurs. Travel insurance will also reimburse you for prepaid travel and holiday expenses if your trip is cut short due to an illness.

• Travel interruptions – Weather, travel delays and booking mishaps can leave you without a place to turn to in a country that is not your own. Travel insurance can help you pay for additional lodging and travel expenses if you find yourself in this situation. Travel insurance will also pay for any expenses incurred if you have to evacuate an area due to an emergency situation.

• Loss/theft – The most frustrating thing that can happen while on holiday is to lose your luggage and the possessions that you have brought with you. It can take days for airlines to locate your lost or stolen luggage and get it back to you. In the meantime, you can spend a lot of money replacing necessities. Travel insurance will protect you by replacing anything that is lost or stolen while on vacation.

• Peace of mind – When you know that you are covered no matter what happens, you gain peace of mine. Peace of mind allows you to relax and enjoy your holiday instead of worrying about all of the things that could go wrong.

As you can see, it could cost you a lot more if you decide to travel without travel insurance than it would to just go ahead and purchase insurance. There is the possibility that you may never need to use the insurance. But if you do, you will be glad that you took the extra step to protect yourself and your companions while on holiday. Bottom line: Don’t skip travel insurance as it may cost you in the end.