When many people consider travel insurance, they're preparing for the worst. Car accidents, medical emergencies, repatriation, and cancelled trips are among the biggest contingencies covered by a good travel insurance policy. After all, you're making a large investment in your holiday or business trip, so why wouldn't you want to ensure that you have financial and medical recourses in the event of something going wrong?
However, despite the incredible value of this type of coverage offered by travel insurance, they are not the most common claims filed. In the first six months of 2007, the Association of European Airlines estimated that almost half a million bags were misplaced. Of these, there were 2,000 claims filed for lost luggage – not luggage that was misplaced and later found, but luggage that was completely and irretrievably lost. When you consider the value of the clothes, electronics, and personal effects carried in a typical suitcase, this adds up to some pretty major dollars for just European travel alone.
Lost Luggage and Other Setbacks
When set against the kinds of catastrophes that can occur during foreign travel, a lost bag or two might not seem like the worst outcome. However, if you're set for two weeks of fun in the sun and suddenly find yourself without your toiletries, your laptop computer, or baby's naptime supplies, your ideal holiday might suddenly seem like a nightmare.
There are other minor mishaps that can occur, in addition to the loss of your luggage. Airplane arrivals and departures are often organized in what seems like a haphazard fashion, and the slight delay of one plane can suddenly make you late for every connecting flight. You might find yourself stranded overnight in the middle of nowhere, unable to make it to a connecting train on time, or even facing hotel cancellations due to the lack of punctuality. Although these might not stack up against a medical emergency, they can certainly put a damper on your trip.
How Travel Insurance Can Help
This is where travel insurance often comes in the most handy. Holiday travel insurance isn't all about preparing for the worst; sometimes, it's about having a resource in the event of a minor inconvenience. Many insurance companies offer luggage location assistance, reimbursement for the contents of irretrievable luggage, financial reparations for delays or cancellations outside of your control, and even 24-hour telephone assistance just so you know where you stand and what your options are.
It's the small stuff that makes the difference. Although many homeowners' insurance policies include coverage for things like lost luggage, they often provide too little, too late. You might have to sludge through mountains of paperwork just to find that there is a $200 cap on the value of your luggage – and this weeks or even months after your trip has ended.
Travel insurance, which is designed for just these situations, can get you the services and amenities you need to get back on your track to having fun. When you take the time to plan a holiday, even the smallest wrench in your itinerary can have a profound effect. That's why thousands of travellers heave a sigh of relief every year for remembering to secure their travel insurance before they left home.
