Travel insurance is not a mandatory requirement. There are several reasons when you can skip travel insurance policy with no compromization.
Travel insurance, also known as trip insurance, is often considered significant as it provide the peace of mind during your trip.
People often take a decision to purchase travel insurance coverage depending on two major factors such as financial risk & medical concerns.
According to Insurance Information Institute, the cost of a typical travel insurance package is usually ranging from 5% to 7% of the total price of a trip.
But, there are several reasons or situations in which buying travel insurance is simply unnecessary. Here are 10 reasons when you can skip travel policy:
(1) Last Minute Domestic Trips
It is one of the best reasons when you can skip travel insurance policy. Sometimes, there are situations when you need to decide for last-minute travel trip in your own country.
These situations may arise due to some personal or even business reasons. In such a condition, travel insurance is very likely to be not a necessary concern.
Some of the reasons to support your decision for not buying travel policy package include last-minute domestic trips are not concerned with trip cancellation or interruption coverage, & your health policy will also cover you for any emergency medical situations.
Buying travel insurance will provide enough coverage for lost baggage & travel delays. But, the total cost of your plan will be much higher as compared to benefits of coverage delivered by your policy.
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