Is travel insurance right for you?

24 hour room service, clean accommodations, but it’s a tourist’s nightmare. You’re not in the hotel, you’re in the hospital, having had the misfortune of falling ill in the middle of what was supposed to be a dream vacation. And the worst part is that you will spend more on health care than you would have spent on an actual tour.

Travelers often think that travel insurance is just a waste of money – it’s an expense for something they probably wouldn’t use anyway. Giving up insurance can be a difficult decision. To help you arrive at the right decision you should ask yourself the following questions:

What is the coverage of your current insurance? If you already have excellent comprehensive insurance, you may not need any other insurance. Some policies would cover treatment given anywhere in the world.

What are the limitations of the proposed plan? Try to find out what the plan offers and the terms of coverage. You don’t want to be caught off guard when you get to use the plan.

Where is your travel destination? Study the places you will visit. Does the environment pose more health risks?

Are you the type who often goes to the doctor? Determine how many times you have visited a doctor or hospital in the last few months. People who worry too much about their health are better off getting health insurance.

Do you get sick often? If you’re the type that catches bugs easily, insurance is your best option.

How much would the insurance cost? Ultimately, you’ll need to consider how much you’ll be spending. If you already pay for health care, paying for it on the go should be just another incidental expense for you.

What are the limitations of the plan you are considering? Don’t want to incur travel costs or do you want to take the risk with a high deductible? Will your policy cover a visit to the emergency room if you cut yourself in the kitchen of your Sydney hostel? What about the emergency evacuation? Will you be somewhere with good healthcare or should you expect to be sent to another country in case of serious injury or treatment?

Travel insurance, while often overlooked as unnecessary, can be worth the small expense when you find yourself at the mercy of overseas healthcare and foreign countries’ environmental hazards.

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