travel insurance

With all the uncertainties and unforeseen events that life is filled with, there is no better logical thing to do when traveling than to insure your trip.

Travel insurance protects you from the financial burden of emergencies and other unplanned incidents that may occur during your trip.

The insurance covers a range of emergencies, from medical care to luggage loss. But as good as it is, travel insurance also has its disadvantages.

In this article, we will dig deep into the concept of travel insurance and provide you with all the necessary details to inform you well on the subject.

How does travel insurance work?

Travel insurance is often bought before embarking on your trip. Various policies and their price ranges will be presented to you to choose from, after which you’ll have to pay the premium. It usually costs an average of 5% to 6% of your total trip’s cost. 

travel insurance

Travel insurance takes care of incidents that present financial challenges, like medical treatment, luggage loss, and trip cancellations or delays.

What are the disadvantages of travel insurance?

1. It is expensive

A significant factor that makes travel insurance unattractive to many is how expensive it usually is. The average cost of travel insurance is about 5% or 6% of the total non-refundable fee of your trip. Despite its usefulness, the price usually discourages many potential clients.

2. The policies contain certain loopholes

Several potential clients consider the fact that every travel insurance policy contains loopholes as another significant drawback.

3. Travel insurance claims may get rejected

There is also the possibility of your travel insurance claim getting rejected. If your insurer denies your claim, you will not be given the settlement amount due you. A situation like this can leave you pretty stranded.

4. May not cover pre-existing diseases

Furthermore, not all travel insurance policies cover all medical emergencies. Some will not come to your aid if the cause of your medical emergency is a disease or complication you had before the trip.

What is usually covered by travel insurance?

Travel insurance covers the cost of various emergencies that may occur throughout your trip. 

Depending on the policy you purchase, your travel insurance can cover the cost of the emergency medical treatments you may need during your stay. 

Also, it can cover the cost of your luggage should it get lost or damaged and the costs incurred from trip cancellations, interruptions, or delays.

How soon should you take out travel insurance?

If you’re considering buying travel insurance for your next trip, you should do it before departure. 

Ideally, you should purchase the insurance within the first 15 days after making the initial deposit on your trip. Buying early may also attract some discounts and bonuses for you.

How much travel insurance do I need?

Based on research, good travel insurance should be worth at least $3,000 and cover the necessities like medical care, luggage loss or damage, and reimbursement of fees should the trip get canceled, interrupted, or delayed.

What is the best travel insurance?

The best travel insurance to go with is one that provides you with total coverage for your trip. That insurance covers your medical bills, luggage theft, loss, or damages and will also reimburse you in case of delays, interruptions, or if you need to cancel the trip.

According to research, the best insurance companies to offer this are Travelex and Allianz Travel Insurance.

How long does travel insurance coverage last? 

Your travel insurance can cover you from a month to an entire year, depending on the policy you buy. 

Various companies have different policies that you can choose from; read through them carefully and purchase the one that best suits your trip’s duration.

But if you travel more than twice a year, purchasing an annual travel insurance policy will be an intelligent choice.


Looking past its few disadvantages, buying travel insurance is worth the sacrifice. Nothing is more comforting than knowing you have nearly all your travel emergencies under control, even when you’re alone in a foreign country.

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