Traveling is one of the greatest pleasures in life. Many people share their travel experiences with loved ones and friends, while others prefer to travel alone. There are many things to plan prior to traveling such as your passports, visas, itineraries, accommodations, tours, and all other details. However, many people neglect one important aspect of traveling, and that is taking out travel insurance.

A lot of people do not take travel insurance seriously. Most often than not, they are not top priority when travel preparations are made. Some travellers simply neglect them altogether.

Being a responsible traveller means that you value you and your family’s safety and protection. Getting travel insurance is one way of ensuring that you are protected while on the road.

Here are top 5 reasons why taking out travel insurance is important:

1.Your health insurance plan is not valid outside your country of residence.

Getting immediate and adequate medical treatment is very important, and hospitals and clinics outside your country of residence can be very expensive. This is especially true in some Asian and South American countries who charge more to foreign patients. Since your health insurance policy may not cover or may offer limited coverage when you’re abroad, then your travel insurance will cover medical expenses when you need it most.

2.Travel insurance covers your non-refundable deposits.

There are tour agencies, hotels, and airlines who do not offer refunds when you make a deposit or fully pay for their services. In case of cancellations on either side due to unforeseen circumstances, the best travel insurance companies return a significant portion of the money back. Just remember that you will only get most of your deposit back when the tour is booked right after you purchase the policy.

3.Travel insurance covers the cost of stolen or lost passports, wallets, and other valuables.

In case of an unfortunate occurrence such as lost or stolen passports, wallets, and other important documents, your travel insurance will assist you in getting in touch with financial intuitions concerned and your country’s embassy. If your wallet gets stolen or if someone steals your valuables while traveling, your travel insurance will cover lost cash.

4.Travel insurance covers the cost incurred on lost baggage.

In case of lost baggage, most travel insurance policies include coverage to replace the items that you lost while you are abroad. Insurance companies go as far as refunding you for personal items lost or damaged, and reimbursing you for all the things you need for the trip until the baggage is returned.

5.Travel insurance covers the cost incurred in case of trip interruptions or emergency evacuations.

There are times when you need to cut your trip short because of unforeseen events which are entirely out of your control. Single trip travel insurance will cover the missed days of the trip, and most policies include coverage to help you coordinate your early trip back home, without incurring any more expenses.

Purchasing a travel insurance policy will definitely give you peace of mind and a worry-free business trip or holiday.