Travel insurance helps travelers to insure their trips from various losses associated with travel, such as money lost due to trip cancellation, emergency evacuation, emergency medical conditions, lost/delayed baggage, legal expenses, and etc.

However, some people don’t feel the need for an insurance coverage, as they are ready to take the risks of canceled flights, truncated vacations, etc. on themselves. True even though you have likely paid for pricy travel insurance and rarely used it in the past, doesn’t mean there aren’t certain positives to having travel insurance in an emergency situation. Let’s consider the pros of travel insurance:

Pro #1: In case of a trip emergency
Travel insurance are a must during emergencies. In case you miss your flight or the flight is canceled, you can get the cost of booking back with your insurance. Even if you lose your luggage, you can claim against the airline for compensation.

Pro #2: In case of a health emergency
If you suffer from any serious medical condition (such as malaria or any severe disorder caused due to some food consumed) during your vacation, your travel insurance company will help you to recover the treatment cost, not the medical insurance policy.

Pro #3: In case of cancellations
If any of your trips get canceled due to natural calamities, bad weather conditions, or may be due to the faulty airplane, your travel insurance will cover most of its cost if not all.

Pro #4: In case of damage
There are many travel insurance policies that also offer coverage for damaged, stolen, or lost luggage that otherwise could set you back several hundred or thousands of dollars.

Con #1: Cost
Usually, travel insurance can be costly, despite the benefits these policies offer. In some cases, the amount you pay for travel insurance is much more than the cost of the travel itself.

Con #2: Use
The travel insurances are completely unnecessary for people who are healthy and don’t suffer from any medical condition. In that case, you rarely would require travel insurance for a trip.

Con #3: Coverage
Travel insurance may not cover everything you need on your trip. For example, you get what you pay for and thee cheapest travel insurance often offers only basic coverage. So, it is not sensible to spend hundreds of dollars on coverage that’s not able to compensate when things go wrong.

Con #4: Exclusions
Some travel insurance features a small print list of exclusions. Therefore, it is recommended to carefully read the policy to check what it covers and what it does not. Some travel insurances may not offer coverage on medical evacuation or have certain restrictions on such coverage based on health and age (i.e., travellers over 60 years old. are not eligible for coverage).