I know you and your family is now planning about summer vacation and it might also be a case that you have your booking & preparation in final stage because your children have already given their exams, and now you are also looking for a break from your Job or Business.
Before getting on track to your vacation please have a look at this article what is all about importance of travel insurance and how your decision to have a travel insurance can cut your cost by 20% this year.
So do you know the Importance of Travel Insurance ?
I am not here to help you packing your bags and hence directly came on the final question what is really most important even more than your travel because no one knows that anything can go wrong during your vacation trip at your favourite place and that simply can give you a lot of financial loss making your fun trip into trip to hell.
If you are going out with a travel insurance then it’s ok but being a positive thinker if you are not going to buy any travel insurance then you should learn more about importance of travel insurance as described below.
Importance of Travel Insurance
For easy understanding take two families like family A and family B, now you will read how these two family planned their vacation where family A took travel insurance and family B ignored it simply.
So “family A” starts their travel expending Rs.5,000 on insurance while “family B” without any expenditure.
#1. Flight Cancelled
Vacation starts and both the families got a shocking news on reaching at the Airport that their flight has been cancelled due to some technical issues so they have to cancel and take another ticket for next flight.
Family A, Cost – Rs.00
Family B, Cost – Rs.15,000 (flight change fee)
#2. Luggage Lost
On reaching at their destination both the families lost their some of the bags including some sort of clothes and necessities, Family A have to wait for some time until the Airlines authority will pay them some money back.
Family A, Cost – Rs.5,000 (spent of incidentals)
Family B, Cost – Rs.15,000 (clothes and necessities)
#3. Medical Emergency
Children couldn’t control and took some unidentified cuisines with bad meat and way of serving leads to food poisoning and both the families ran out with a transportation service till the nearest hospital around 30 Km away.
Family A, Cost – Rs.2,500 (medical co-pay)
Family B, Cost – Rs.30,000 (transportation & treatment)
#4. Bad Weather Conditions
After the children recovered a wild weather rolled into the scene leading all the flight cancelled and now family B is under stress of having non-refundable tickets.
Family A, Cost – Rs.00
Family B, Cost – Rs.15,000 (flight change fee)
#5. Pocket Picked
During travelling into a crowded train both the men lost their wallet or say pocket picker picked their cash and identity proofs.
Family A, Cost – Rs.5,000 (cash)
Family B, Cost – Rs.10,000 (cash and fee for identity replacement)
#6. Medication Missing
Another flight and another bag lossed carrying medical kit where insulin and heart related drugs were kept, family B not only lost that all but also spent hours of consultation over phone with their doctor as well as faced a lot of problem in locating a good medical store.
Family A, Cost – Rs.1,000 (co-pay for medication)
Family B, Cost – Rs.5,000 (medication and others)
Finally both the families came back from their trip recollecting the bad memories they faced in this hell like vacation trip, and hope they might have aware about importance of travel insurance now.
After flight cancellation, baggage loss, food poisoning, bad weather condition, pocket picked and medication loss both the families gone into some unexpected financial loss.
Final cost of Family A – Rs.18,500
Final cost of Family B – Rs.90,000
Don’t forget to catch our next article directly in your email inbox, please let me know now what is the importance of travel insurance and what you got to know from this article and why you will buy a travel insurance or not in the comments below.
