Travel and insurance: do these go together for people on a budget? Giving the answer to this question is definitely not easy and it depends on a particular situation. But generally speaking, one cannot but agree that travel insurance might be useful. If you unwillingly experience trip interruption or trip cancellation, having some protection may be a tremendous advantage for your budget. But still, before you buy travel insurance, we recommend you read the following advice and only then make up your mind.
Do you have enough financial resources to re-pay for most of your trip?
Our travel resources are usually quite limited. The car needs new tires and children need expensive braces. Almost everyone who is not really wealthy cannot afford to pay for their long-awaited trip all over again. And if you are one of such people, you should certainly consider some insurance, just to protect yourself.
Is the policy you are considering good for every single segment of your itinerary?
You know, a journey with crossing international borders may be a great problem. Make sure that the insurance policy you would like to buy does not have a note that its coverage works only within the insurer’s home country.
Be wary of “bankruptcy” coverage
Many companies that lose all their money never declare bankruptcy officially. If the insurance policy you are considering clearly spells out the word “bankruptcy”, you might not be covered in case an official declaration is not drawn up
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