Is not getting travel insurance really worth the risk? Learn what it covers and how it can save you a fortune in desperate times.
It may be surprising but some people head off on holiday without purchasing any travel insurance. What happens if they get involved in an accident or fall sick while abroad? When they should be concentrating on getting better, they may have the added stress of a huge medical bill. Travel insurance helps cover for such unexpected events.
Dangers of Spiraling Medical Costs
Travel insurance allows you to travel knowing that you would be covered in a foreign country should you become ill or involved in an accident. The costs for a foreigner of private medical care overseas can be relatively high.
For the fraction of the cost of your trip, you’ll be covered for medical treatment abroad. Emergency medical coverage will cover the actual medical cost of any treatment and personal accident coverage. And if you need to be repatriated for care back in Hong Kong,. travel insurance protects you from the cost.
Over 74,400 Hong Kongers took part in sporting activities while overseas.* Now, most people underestimate the dangers of even relaxed sports like horse riding or snorkeling but you’re still increasing your chances of being involved in an accident. If you decide to go with dangerous sports like skiing, scuba diving or rock-climbing then travel insurance is essential, especially with sports coverage added on.
A Quick Question to Assess the Dangers
If you’re on the fence on the need for travel insurance for your next trip, ask yourself the following:
- Does your current health and personal accident insurance cover emergencies outside Hong Kong?
If you answer is no, you might need to seriously consider travel insurance. Anything unexpected may happen and nothing is more important than protecting your health and wealth.
Quick and easy to buy
Whether you do it online in advance of your trip or on your mobile at the airport, travel insurance is very simple to buy. Just punch in your dates of travel, specify if you need individual or family coverage and then choose single trip or annual. Once you’re presented with the policies available just pick the one you want and away you go. If you are doing any sports activities, driving or cruising then just add it on as an extra to your policy. The dangers of not being covered can turn a dream holiday into a financial nightmare.
* 2003 Census and Statistics Department (www.censtatd.gov.hk/)