Do You Really Need A Travel Insurance?

Here in the Philippines, Travel insurance sounds like one of those types of insurance you don't need. As a frugal traveler, travel insurance was like a worthless upgrade to our expenses. It was not until we almost figured an accident in Macau. Our speedy and crazy cab driver almost hit another car in a dangerous sharp curve after crossing Taipa bridge. This cause him to brake hard to avoid rear ending another car. We didn't hit the car though but I almost hit my head in the front seat. It was an eye opener for me and sometimes you just can't avoid the unexpected. Hospital bills abroad can be very expensive and will empty your pocket in days. This is where travel insurance comes in handy.

Travel insurance is often hailed as a lifesaving resource should something go horribly wrong with your vacation or trip overseas—it can offer money to replace lost or stolen luggage, cover medical expenses while you're abroad, or even help you re-book transportation if your original travel plans are canceled or you miss a flight. Do take note that pre- existing medical conditions are not covered by the policy. Let's take a look at your options and when travel insurance makes sense or doesn't.

You can get travel insurance from a number of sources online. Airline companies like Cebu Pacific Air and Philippine Airlines allows you to get travel insurance while booking a flight. Cebu Pacific Air had partnered with Travelsure ( Malayan Insurance) for their guest. You can get covered for as low as Php 250 for one way and Php 350 for roundtrip excluding Malaysia and Singapore.Only Php 350 per passenger for one-way trip and Php 550 per passenger for a round trip to and from Dubai. You can check or buy their policy coverage here. Philippine Airlines on the other hand is partnered with PNB General Insurers Co., a non -life insurance company of the Philippine National Bank. Domestic policy coverage is Php 250 for one way while the International is at Php 440 ($10). You can buy or view the policy here.

Review the policy and coverage first before signing it. Know their provisions.

If you don't like their policy, you can also buy from trusted insurance companies like MAPFRE INSULAR, PIONEER SHOP TRAVEL BUDDY, PACIFIC CROSS FORMERLY BLUECROSS and FORTUNE GENERAL. Most of the insurance companies above will not insure you from adrenaline activities like scuba diving, parachuting, parasailing, sky diving and etc. You have to pay extra if you engage to some activities mention above. Just remember that these are insurance companies, they know that these activities have high accident rates and therefore they will have to pay hundreds of thousands for your medical bills. Insurance companies don't want that.

During our Thailand trip, we bought our travel insurance from World Nomads. Faved by backpackers and travelers around the globe their policy covers everything you need.They have two different policies to choose from, Standard and Explorer. Standard policy covers almost everything you need and Explorer covers a wide range of adrenaline activities. Get a quotation here.Their Standard policy cost around $64.00 (Php 2,816) and $70.00( Php 3,080) for the Explorer. Quite expensive but I don't focus on the price alone, we have to know the best levels of protection and good coverage when getting a good travel insurance.

A great policy will cover you from the following:

• Lost, damaged or stolen possessions like jewelry, baggage, documents, cameras, laptop etc.

• Covers some of you electronic gadgets

• Global coverage ( Cover most countries)

• Sudden Illness and Injury

• 24 hour Emergency Services

• Cover cancellations such as hotel bookings, flight, and other transportation bookings if you have a sudden illness, death in the family, or some other emergency.

• Legal expenses

• Cover Emergencies and Evacuation

There is a big chance that you won't use your travel insurance during your trip. Whether you're just sitting at the beach, snorkeling or just walking in the street. You just don't know that accidents do happen sometimes. Better safe than sorry. A smart traveler is always prepared.

7 comments:

Frugal ExpatMonday, May 11, 2015 at 9:44:00 AM GMT+8
I agree with you.

Before I considered this too as unnecessary travel expenses but now I make sure that we have travel insurance before we travel.

My only challenge with the travel insurance is they don't usually insure elderly people like my Mom. :-)
Joe GibsonSaturday, July 18, 2015 at 11:28:00 PM GMT+8
One of my relatives experienced a baggage rip down. All of the expensive things inside the bags were stolen. He did not have any insurance, but the airline company payed half of the lost items. It was only half but if we had some receipts they would have payed all of the lost things. We consider it lucky because there was no insurance in that flight.
HIX insuranceWednesday, July 13, 2016 at 4:05:00 AM GMT+8
Before I considered this too as unnecessary travel expenses but now I make sure that we have travel insurance before we travel.
Carmie123Monday, March 5, 2018 at 5:13:00 PM GMT+8
Thank you so much for this info and for your recommendation. It's helpful for me.
Arslan NaeemTuesday, September 17, 2019 at 3:26:00 PM GMT+8
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alvinguerreroFriday, October 18, 2019 at 12:40:00 PM GMT+8
Travel insurance is important most especially when we are travelling. It gives you a problem free travel especially when mishaps happens. Getting you assured that you don't have to pay any for the hospitalization. https://www.ecomparemo.com/travel-insurance

May 2, 2015

Do You Really Need A Travel Insurance?