Besides the typical health insurance there are also other insurances that are worth to consider. Getting sick is only one thing that can happen to you while travelling the world. I don’t want to create a panic and say buy insurance for every little crap, but you should think about those that can prevent you from getting into financial difficulties.
- Health insurance: Self explanatory and should be the bare minimum when travelling the world. I wrote about what to consider when choosing your provider in this post. This is usually the most expensive insurance aswell.
- Liability insurance: A lot of travellers somehow forget about this one. Lets imagine you are on a campsite having a great night and a few to much beers, with your friend and some other travellers. After a long busride that day you are tired and go to bed early. Suddenly your friend wakes you up in panic. That extraordinary funny traveller had not just a few beers to much, but a few shots aswell, and used gasoline to start a bonfire. Now the campside is on fire. He looked a bit stupid, you didn’t expect him to be that stupid though. Probably a bad example, it might get problematic with alcohol beeing involved, you should get my point though. A little inattentiveness like this can create damages running into the millions. It also covers personal injuries. Otherwise if someone gets disabled because of you, you might need to pay for him your whole life. You should be able to get a liability insurance for barely a week´s worth of travelling. No idea why people would take that risk.
- Accident insurance: In case you get disabled due to an accident. If there is need for any alterations in your house or appartment (e.g. making it wheelchair accessible) this insurance will cover the costs.
Nice to have
- Luggage insurance: This one is really just nice to have. Usually luggage insurances are very expensive and you will have trouble finding one that insures you over several months. Its value is also questionable, unless you are travelling with a lot of expensive gear. As already mentioned, you shouldn’t travel with a lot of expensive things. Also with luggage insurance you will always somehow worry about your stuff. If you plan to take your DSLR camera or your Macbook with you I won’t stop you with saying don’t do it. Just be aware that insurances pay the present value, and not what it actually costed you. After the deductible there is probably not much left.
- Legal expenses insurance: This one might come in handy in case you get in legal trouble during your travels. It doesn’t even have to be your fault. If you get involved into a traffic accident where it’s not clear who´s at fault, you might need to make bail, otherwise you get jailed. The legal expenses insurance will make the bail and take care of organizing a lawyer. Especially when you are travelling alone this can be very valuable. When travelling with a partner the partner can take care of that.
- Travel cancellation insurance: Might give you peace of mind, if you feel very nervous and unsure about going on your trip abroad. Besides that it’s rather useless since you most likely just booked your flight and a few nights in your first city. The hotel probably doesn’t charge anything for canceling and the difference between canceling you flight with insurance and without is usually not worth to be mentionend. After the insurance rate and the deductible there is not much left. This one is more important to short-carefree-package-tourists.
I totally understand when people don’t want to buy insurance. Whatever it might be because you simply don’t care, you don’t have the money for it, or you want to live in the present moment and don’t want to concern your mind with fearful thoughts of what can happen.
I still recommend to take atleast the first 2 mentioned insurances. Otherwise you take a unecessary high risk. It’s just about a months worth of travelling that you lose and not the end of the world.
As always you are very welcome to leave additions/suggestions/opinions in the comments!
Previous: Travel planning