Have a look at these Interesting Travel Insurance Statistics
Travel Insurance is always a good idea as it makes it easier to receive health care in a foreign country, or to get your lost belongings replaced or even get you home should your travel plans be changed.
The Value of Travel Insurance is realized by more travelers
The latest figures available show that almost $2 billion worth of travel insurance products were purchased in 2010. Of the Insurance products purchased , 94 % are related to travel interruptions. Medical coverage and evacuation coverage was also popular.
Where is Travel Insurance bought?
Most people still buy their insurance from a traditional broker, but Internet purchases are increasing rapidly and made up almost one third of sales made in 2010. The Internet allows you to compare multiple quotes and therefore Insurance rates are possibly cheaper for policies bought online versus just speaking to one agent and have only one option available.
Safety and Health Cover make Travel Insurance a necessity to have
To be medically evacuated from a foreign country could cost up to $100,000 and even more. If you should end up in a country that is experiencing a disease epidemic it can be expensive as well as cut your trip short. Your existing insurance may not cover all your medical bills that you added up while on holiday. Costs for airline tickets, hotels and other accommodation may not be non-refundable. If that is the case, a good travel insurance policy is inevitable. This is the reason why 64 percent of travelers considered their health and safety cover as most important when deciding where to travel.
Why purchase Travel Insurance?
To buy Travel Insurance is wise if you are traveling a long distance for a business trip or just for a holiday. It is always comforting to know that you are taken care of financially, should something happen. You most certainly do not want to be stranded in a strange city without your luggage or suffering from a medical condition. If you are planning a trip, be sure to have your cover before you leave.