Released on: March 17, 2008, 9:54 am

Press Release Author: Anil Thakur

Industry: Internet & Online

Press Release Summary: To answer the question \"is purchasing travel insurance
smart?\" let\'s look at what insurance is.

When you purchase insurance - health insurance, homeowner\'s insurance, car
insurance, life insurance, or travel insurance - you\'re not making an investment.
It\'s not the same as going to the


Press Release Body: To answer the question \"is purchasing travel insurance smart?\"
let\'s look at what insurance is.

When you purchase insurance - health insurance, homeowner\'s insurance, car
insurance, life insurance, or travel insurance - you\'re not making an investment.
It\'s not the same as going to the bank and depositing money and expecting to reap
financial rewards at some point. No, any insurance including travel insurance is
about sharing risk in case of unforeseen catastrophic events.

For thousands of years, risks have been shared during times of tragedy. The first
formal insurance company, Lloyd\'s, was formed in 1769, and their insurance concept
remains today - to gather the premiums of clients as a pool of resources to return
to clients who experience covered events.

Is purchasing travel insurance smart for you, then? Do you need a pool of resources
from others\' premiums to help you out in the event of a travel emergency? Or can you
take care of any unforeseen circumstance on your own? It\'s not just about money,
either.

To decide if purchasing travel insurance is smart for you, let\'s take a look at just
a few of the things that could happen while you\'re traveling.

It\'s your first time in Europe and neither you nor your spouse speaks any foreign
language and your wallet is stolen. Your credit cards, your airline tickets, your
passport and your money are all gone. What do you do now? Money may not be the
primary problem here as you can always call your bank and have a wire transfer
completed. Or can you? Do you know the international rules and capabilities for
this? Where are the banks and do the tellers speak English? What about replacing
your airline tickets? What about money to get to the airport and check out of your
hotel? Your passports are the primary issue probably. They took a very long time to
get. Now you can\'t get out of the country without them. Where do you go to replace
them? If you had known this was going to happen, how would you have answered the
question, \"is purchasing travel insurance smart?\"

Your child is involved in an accident and must have medical assistance but you find
out your insurance does not cover you outside of the United States, and medical care
are not adequate where you are anyway. How do you get your child back to the United
States for medical care? If you had known this was going to happen, how would you
have answered the question, \"is purchasing travel insurance smart?\"

So, to answer the question, \"is purchasing travel insurance smart?\" consider what
could happen while you\'re abroad and determine if you might be grateful for outside
assistance.


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