Travel Insurance - is it worth it?
15 to 20 years ago, nobody would even consider adding an extra HK$300 for travel insurance (the price is different for different destinations and durations. This is based on a trip from HK to Asia, e.g. Thailand, for a few days.) But right now, it’s something most of us would purchase, as there is a high risk of trip cancellation, lost luggage, breaking a leg during a ski trip, and so on.
So what’s included in travel insurance? Obviously, the coverage and terms are different between different companies’ offerings. But most would offer the followings:
Financial Protections
The financial risk increases with the cost of your trip. Your trip deposits, such as those for airfare, lodging, tours, and more, may be covered by travel insurance. Trip cancellation coverage is one of the most important advantages of travel insurance, as it protects the financial investment you make in your trips, offering coverage for prepaid and non-refundable trip expenses. If an unforeseen occurrence or difficulty makes it necessary to change your plans, this kind of protection might provide you peace of mind. It’s best to also check the covered causes under the specific terms of the policy before purchasing though, some covers these expenses even due to the passing of your pet that you’d prefer to stay home during that period.
Medical protections
Consider purchasing travel insurance before you go on your trip to protect yourself in the event that there are delays, mishaps, or illnesses while you are travelling. You might not be covered by your current health insurance for treatment abroad. The medical advantages of travel insurance are likely the most valuable because of the huge financial consequences that can result from a medical claim while travelling. Emergency medical and medical evacuation coverage are frequently included in comprehensive travel insurance policies.
other Travel Problems
Sometimes travelling may be a nightmare, especially when you encounter jam-packed airports, airline problems, and other annoyances like delays or misplaced baggage. Every comprehensive travel insurance policy should include 24 Hour Assistance, which can assist travellers with medical and legal assistance. These comprehensive policies also cover a wide range of issues, including delay benefits, refunding the cost of lost or damaged items, sports coverage, and more. One point to note though, if you have lost your wallet or anything precious during your trip, be sure to report it to the police and get a written proof in order to file a claim.
The cost of travel insurance typically ranges from 5% to 10% of the cost of your trip. That's a tiny sum to pay for peace of mind and potential protection against losing the entire deposit or facing a medical emergency that results in astronomical medical expenditures.
Enjoy a personal 20% off offer to you for holistic travel insurance coverage by Blue Cross. Click this link to take advantage of the protection discount for trips flying/sailing out from Hong Kong SAR. Below are some highlights of the coverage details. Enjoy and travel safely!
