Take That Travel Insurance

Well, insurance is the biggest pie in fortune 2000 market cap and most of us have developed penchant against banking because of not so recent blunders. But disasters are without warning, without known impact and moreover as sudden as we (can or cannot) perceive.

After the Greece fallout long term debt insurance has gone upto 90% of capital value. So, if you are insuring 1 million Euros, you will be paying 900000 Euros for that! Companies who had been far sighted must have escaped this. But they must be exceptions than norm. Same is true about any calmaity, on any order, be it natural or man made.

We associate emotions with things and money is no different. Travel insurance is optional. Most travellers don't buy it. Reasons range from

• Short trip
• Always been lucky
• Ignored because previously travelled without it and all was good

Think of travel insurance this way. A really good and resourceful friend who has

• Reach and means to help you in the foreign country
• Is available 24/7 on a phone number
• Guarantees that you will not require money when you are in trouble and (probably) need it the most

All this is definitely worth a lot more but insurance costs are almost non existent.

If you are a frequent traveller, you can also buy fixed term travel insurance

• It be valid whenever you are not in home country
• Terms ranges from months to years
• You can choose the policy price based on the cover required

In most cases, travel insurance is way lesser than 1% of the trip costs.

Few things to keep in mind when buying insurance

• Ensure your trip and not just the flight
• Make sure policy has medical insurance too
• Insurance company is easy to reach. Has phone numbers etc. And is reputable

PS: None of my banking friends have paid me to write this. If any of you are reading this, you can pay me back in pizzas ;)