Some travellers may wish to avoid the perceived hassle of arranging comprehensive travel insurance. But there are good reasons no one need do this.
There is an emotional battle behind the prudent choices regarding holiday insurance policies. Between perusing the various quotes and coverage on offer, you may consider that your desire to spend money protecting yourself is based on a fear of the unknown, of the potential. This desire is met by an urge to save money and not waste any undue effort on merely the hypothetical. While wise people sign up for cover, some still decide to go with the latter urge and reduce their payments as well as their options, perhaps even forgoing a policy altogether. But there are good reasons to choose cover that go well beyond fear of potential risk.
The modern market for comprehensive travel insurance is as extensive as the benefits on offer. The capacity for providers to be underwritten by larger firms, and to base their capture of the market on the relatively low-cost investment in internet advertising means there are more policies to choose from than ever before. This also means that cover has become cheaper. No matter your travel budget, if you plan wisely enough to know the real risks you may face on your trip, you can find adequate cover that does not drain your wallet.
The wide choice of comprehensive travel insurance means not having to opt for a one-size-fits-all policy. Modern risk assessment is a billion dollar industry that seeks to expand profit margins by narrowly measuring the degrees of risk across the global tourist marketplace. Different destinations, different travellers, and different trips are all catered for and offer different packages of cover. It gives everybody a chance to pick and choose, and be more demanding of their provider. There is no need to feel pressured into paying for the unnecessary, so this means you can take time and choose your cover in a way that it suits both your budget and your personal needs.
Cost-effectiveness is not the only prerogative. Your cover needs to be selected in and amongst the demands of organising your holiday, study-abroad adventure, or business trip. And this needs to be arranged in the midst of your busy day-to-day life. As a consequence, you may neglect to invest enough time into choosing your comprehensive travel insurance simply because it is onerous. This need not be the case. From quote to payment, policies have become much more simple. Many companies compete based on ease of access to information and simplicity in coming to an agreement.
The appeal of comprehensive travel insurance lies not only in its cost-effectiveness, flexibility, and simplicity – it is also near to being vital. Broad and excessive fears need not be the drivers of risk assessment, however a reasonable calculation of your journey will call to mind the consequences of cancelled flights, damaged valuables, hospital stays, or volcanic eruption – are you willing to wear the personal and financial cost? Having such cover means you'll be able to enjoy peace of mind while you travel – and isn't that the aim?
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ABOUT THE AUTHOR
Patrick Chong is the Managing Director of Insuremore. We provide comprehensive travel insurance and offer a range of policies including single-trip, multi-trip and family insurance. For all your travel cover needs, Insuremore can help you in the quickest and most cost-efficient way.
By Lisa Jeeves