Passport, tickets and money are the three things on any traveller’s checklist, but the need for travel insurance is frequently overlooked, said global insurance brand AXA, listing five reasons to buy travel insurance.

1.    Medical emergency: The most important reason to have good travel insurance is that it covers your emergency medical expenses. It should also cover your transportation costs if you need to be relocated to a better-equipped hospital. The costs of these medical claims vary from country to country but in the US, for example, it is not unusual to pay more than $6,000 a night if you find yourself in intensive care, and something less severe as a broken arm can set you back $90,000.

2.    Baggage loss or damage: Most insurance policies cover losing your baggage, money, passport and personal belongings during your trip. If your baggage fails to make it to your destination at the same time as you then compensation can be sought.

3.    Flight delays: Globally last month, over 450,000 flights were late and more than 33,000 flights were cancelled.  In the coming days, bad weather coupled with significantly more people travelling is likely to increase the likelihood that travellers will face delays or cancellations.  Although it is the airlines’ responsibility to get you to your destination, your travel insurance can help cover the costs in the event you are stuck at the airport and your flight is cancelled.

4.    Last minute cancellation: This cover is important because if, for example, you cannot travel because you or a close relative are unwell, then the policy will reimburse you for the cost of your trip.

5.    Lost or stolen documents: If your passport, ticket and money are lost or stolen then your travel insurance should be compensate you for the cost of replacing them. So, if you want to avoid the cost of obtaining emergency travel documents from your consulate or embassy, it’s a good idea to have a reputable insurer on hand to help you.

Franck Heimburger, chief personal lines officer at AXA in the Gulf, said: “We recognise that people are trying to cut costs and save money, but not taking out travel insurance can lead to financial complications if you are the victim of a serious accident or illness whilst abroad.”

“We want anyone who is thinking of travelling, even for a short trip overseas, to understand that by not considering travel insurance they are putting themselves and their family at risk.

“We also recommend that customers be clear on what cover they are getting as not all travel insurance is the same. It’s important to distinguish between a one-star policy and a five-star policy in much the same way as you would when you choose the accommodation for your vacation. Getting cover from a recognised brand at a competitive price is a more sensible solution than choosing the lowest premium or the most basic cover,” he added. – TradeArabia News Service