Of Travel Insurance ...

Since we are on the subject of cash withdrawal overseas, it reminds me of another travel-related money issue - Travel Insurance. I have never bought any travel insurance whenever I travel, which I believe most people will cry out in shock at this. I always thought travel insurance is not necessary because so far, I have been very blessed whenever I travel on my own, and what can be better than God Himself watching over me and ensuring nothing happens to me?

 

However, before I went down under, I was toying with the idea of getting a travel insurance. I should have gotten travel insurance before I went to Borneo, but I just got terminated from employment and wanted to save up more money for the actual trip. Yet I managed to go there and back unscathed.

 

I never had any idea how travel insurance really works. After paying for the insurance, what then? If nothing happens to me and I come back in one piece, would I not be throwing money away since that cannot be claimed? But if something happens, then what? Am I able to claim back the full amount? Or will the claims be settled immediately instead of months later?

 

I was curious, so went to check out the various travel insurance packages. I got a shock when I saw the amount needed to cover Australia. It is Australia after all, not some backward place with no hygiene and structure, so why in the world would I need to pay so much for a week's trip?

 

I would be going to a relatively safe place, I would be taken care of by my relatives, and I would be going to a place where it is relatively easy to go around in on my own. So do I really need travel insurance of that amount?

 

Hence, I did not get any for this trip. Then I realise travel insurance is not just if something happened to you like you got robbed or whatnot, but also if you get sick while overseas or after coming back, it is still claimable. Still, I was not willing to pay so much for just a week's trip. And luckily nothing happened to me.

 

Having said that, I may start buying travel insurance whenever I travel from now on. One really would not know what would happen anytime and my good luck may not be around forever. If I do not buy it is good money saved, but if things are to happen, no amount of money can ever make up for it. And if I do buy, and nothing happens, it is for a piece of mind knowing if anything was to happen, I can be covered.

 

So I guess getting travel insurance is still a better option overall! A little investment can go a long way indeed!