Planning a business trip or a family getaway should be about maximising opportunity and enjoyment – not worrying about what could go wrong.
Yet the truth is that medical emergencies, flight cancellations, travel delays or lost luggage can quickly turn a trip abroad into a stressful – and costly – ordeal, especially when you’re far from home.
Kim Dowling, senior underwriter, personal lines, at Freisenbruch, shared insight regarding why travel insurance is an essential safeguard for savvy island travellers who want peace of mind wherever they go.
“Travel insurance is not mandatory, but it can be an important safeguard,” Ms Dowling said.
“It helps protect against unexpected events such as medical emergencies, trip disruptions or cancellations that could otherwise result in significant out-of-pocket costs.”
Comparing travel insurance plans
It’s important to purchase travel insurance well before your vacation, especially if you have non-refundable deposits or flights. Knowing exactly what is and isn’t covered allows you to travel confidently and avoid unnecessary financial surprises.
“Travellers should start by checking whether their credit card already provides some level of travel coverage then compare what’s included and what’s missing,” Ms Dowling said.
“Beyond that, they should look at their travel package to ensure that it meets their needs because this can vary depending on the destination, the cost of the trip and an individual’s risk tolerance.”
Misconceptions over healthcare
Many travellers underestimate just how expensive medical care can be abroad.
In many countries, treatment must be paid for upfront, and the costs can be shockingly high. But it doesn’t have to be this way. It’s often possible to obtain coverage for personal accidents, medical expenses or trip cancellations, as well as lost money or baggage as a ‘one-off’ policy or on an annual basis depending on your needs.
Business versus leisure
Ms Dowling said the level of protection differs between business and leisure travel.
“Business travellers are often covered under their company’s corporate travel policy, meaning the financial responsibility doesn’t fall on them personally,” she said.
“However, this coverage can vary widely between organisations.
“Leisure travellers, on the other hand, are typically responsible for securing their own insurance and should pay close attention to the coverage/limits they need.”
How to make a claim
You must report and adequately substantiate all claims.
“To claim under medical expenses, trip cancellation or personal accident, reasonable medical evidence must be obtained from a qualified registered medical practitioner – other than an insured person – clearly stating the condition giving rise to the claim,” she said.
“All claims information and proof of loss must be forwarded to our claim adjusters as soon as possible and in any event within thirty days of your return to Bermuda.”
Peace of mind
Ms Dowling said: “In the event that you or a member of your household suffers accidental bodily injury caused solely and directly by violent external and visible means, sickness or disease, and as a result incurring any of the following expenses not insured by any other insurance policy, we will pay for: medical and surgical fees, hospital or nursing home charges, emergency dental treatment, additional hotel or other accommodation expenses.”
Without proper protection, a sudden illness, accident or change of plans could lead to substantial out-of-pocket expenses, but the right policy helps ensure that you can be restored to a secure financial position should the unexpected happen.
Ultimately, real peace of mind means knowing your travel investment is protected within policy limits, so you can focus on enjoying the journey rather than worrying about what might go wrong.
