It is generally considered important for Europeans to buy travel insurance for a number of reasons. Traveling can be exciting and adventurous, but it also comes with potential risks and uncertainties. Global travel insurance provides a safety net to protect travelers from unexpected events that could result in significant financial losses. In this article, we will explore the reasons why global travel insurance is important for Europeans and how it can provide peace of mind for travelers.
Here are 6 reasons why global travel insurance is important for Europeans:
Health Emergencies Abroad
One of the most important reasons for Europeans to have global travel insurance is to cover medical emergencies caused by accidents or unexpected illnesses. When traveling outside the European Union, it is important to buy comprehensive health insurance, as the European Health Insurance Card (EHIC) may not be accepted outside of your country of citizenship or outside the EU. This is particularly important in countries with expensive healthcare systems, where the cost of treatment can quickly add up, such as some parts of Asia and of course the USA. Global travel insurance can cover the costs of medical treatment, hospitalization, emergency evacuation, and repatriation, ensuring that travelers receive the medical care they need without incurring large medical bills.
Lost or Stolen Belongings
Traveling abroad carries the risk of lost or stolen belongings, such as passports, wallets, and luggage. Global travel insurance can cover the costs of replacing lost or stolen items, as well as the expenses incurred due to delayed or lost baggage. This provides peace of mind to travelers, knowing that they will not be left stranded without money or identification in a foreign country. Note that in our opinion, you main financial danger when traveling abroad is a medical emergency and not a lost bag or wallet.
Trip Cancellations and Interruptions for Trips
Travel plans can be disrupted due to unforeseen circumstances such as illness, natural disasters, or political unrest. In such cases, travelers may have to cancel or cut short their trip, resulting in significant financial losses. Global travel insurance can cover these costs, including non-refundable travel expenses such as airfare, hotel reservations, and tour packages. This ensures that travelers do not lose their hard-earned money due to unforeseen circumstances.
Personal Liability for European Travelers
Traveling abroad can also result in unintentional injury or damage to third-party property. In such cases, travelers can be held liable for the costs of damages or injury. Global travel insurance can provide coverage for personal liability, protecting travelers from expensive legal fees and compensation claims. Note that not all travel medical plans offer liability coverage and you should check your home policy to see if it will cover you abroad for liability type claims.
Adventure Sports and Activities
Europeans are known for their love of adventure sports and activities such as skiing, hiking, and scuba diving. These activities can be thrilling and exhilarating, but they also carry a certain amount of risk. Global travel insurance can provide coverage for accidents and injuries that occur during adventure sports and activities, ensuring that travelers receive the medical care they need without incurring significant costs. I would note that some travel medical insurance plans will have a hazardous sports exclusion, but most will allow you to purchase an optional rider to cover the sport, but make sure your sport is one of the activities covered. Travel medical plans won’t cover professional or game related sports when traveling abroad.
Emergency Medical Assistance
In case of an emergency, travelers may need assistance in finding medical care, getting in touch with local authorities, or arranging transportation. Global travel insurance often includes a 24-hour emergency assistance service that can provide travelers with the help they need in a foreign country. This can often include medical evacuation to a country nearby for up to date medical treatment. Or you may need to be repatriated back to the EU after you are treated for your condition.
Some Final Thoughts For European Travelers
There are certainly a lot of things to consider when traveling abroad, but buying a global travel insurance policy is important for Europeans and can provide the peace of mind and financial protection that is crucial for short term trips. From medical emergencies to trip cancellations, lost belongings, personal liability, adventure sports, and emergency assistance, global travel insurance can provide peace of mind to travelers. It is important to carefully consider the level of coverage needed for individual travel plans and to select a policy that best meets the budget and requirements for that trip.
If you plan to live abroad it should be noted that travel insurance is not an ideal solution and you should get a more comprehensive and long term expat health insurance policy. These can be purchased from Expat Financial via their website as they have a lot of options for global nomads and expatriates alike.