YOU ASK:

What travel protection plan is available for someone like me, who’s on a budget?

WE ANSWER:

There is a mistaken notion that insurance is an expensive (and often unnecessary) product. But that's not really the case. Insurance (including travel protection insurance) is something that covers an undesired yet likely event. It provides you with financial indemnity when something you don't want to happen does, so that you are protected against unforeseen expenses.

Don't mistakenly assume that travel protection is something you can do without. When you can't afford to buy travel insurance, more likely than not, you can't afford to travel.

There are a lot of travel protection products you can have for a very reasonable and affordable price. And when you compare the potential expenses you could incur because of delayed flights, lost baggage, accidents along the way, the travel insurance premium is indeed reasonable.

There are some ways for you to get low cost but reasonably comprehensive travel protection.

  • Check whether travel insurance is included.

    First, check whether the airline or carrier provides free travel insurance with your ticket. Sometimes, the airline will tie up with a travel insurance provider to give their customers added value.

    Credit cards also sometimes provide free travel insurance as long as you book your tickets and your hotel accommodations using that specific credit card.

  • Select the benefits you need.

    To save up on premium costs, you can also pick and choose the benefits you need.

    For example, if you are doing your traveling by car and are not likely to buy airline tickets, then you can look into doing away with trip cancellation insurance. You can also do the same thing when you are only buying your tickets at the last minute (i.e. just before you're about to board the plane). That means you don't have to worry about forfeited payments due to cancellation.

    Another example would be if everything you'll be bringing to your travels are in your backpack (which you'll have as your hand-carried baggage). It may be also that you're not worried about losing the contents of the backpack. Then, baggage insurance is not needed and you can take this out of the policy to decrease premiums.

  • Cut out the middle man.

    Another thing you can do is to buy directly from the travel insurance company (and not through travel agents) and ask for a discount. You never know, they might give it to you!

These are just simple tips to help you get travel insurance within your budget.

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