A major question that pops up in the mind of almost every traveler when booking a holiday is ‘Do I really need travel insurance?’ Doubts about whether claims will be accepted to whether travel insurance is simply a waste of money are all commonplace. Therefore, some holiday goers choose to risk it and not take insurance, while others simply cannot leave home without the same. Wondering what you should do? Following is a list of the pros and cons of travel insurance to help you make your choice.

The pros

• Peace of mind
  Having travel insurance helps create a sense of ease. You can travel knowing you have all your bases covered. You may enjoy your holiday without having to worry what you will do if something does go wrong. For most travelers, this is a reason enough to shell out big bucks and pay for an expensive and all-inclusive travel package.
• Health coverage
  Even if you are a frequent traveler, you never know when things can go wrong. You may hurt yourself playing a sport, fall sick due to a change in weather, or contract a local infection. Hospital expenses abroad can run extremely high and most insurance companies in the country do not cover foreign hospitalization. Travel insurance come in handy for medical purposes, especially if you are traveling with elderly family members or children.
• Travel risks
  Having had your flight canceled or your baggage lost in transit can be quite frustrating. Most major travel insurances cover common travel risks, such as flight cancellations and delays, theft, loss of luggage, or baggage damaged while in transit. This can protect you from quite a headache while on the go and also save you a good deal of money.
• Evacuation insurance
  A lesser known but important feature in travel insurance is evacuation insurance. This basically means that in case of an illness, you as a traveler can opt to get evacuated for treatment to your own country. This option is especially suitable when traveling to third world nations where medical facilities are not up to the mark.

The cons

• High cost
  Most travel insurances come at an extremely high cost, and as such, many travelers find it an unnecessary expense. There are many clauses of situations that are not covered and this is exactly what makes many travelers hesitate to opt for travel insurance.
• Duplicate coverage
  Most major credit cards offer a certain extent of coverage when traveling abroad. For instance, if you use your card to rent a car, you often get automobile insurance. The same goes if you book your entire travel on your credit card. Therefore, many travelers feel it pointless to pay double for a separate travel insurance. However, these insurances on credit cards often have many limitations. It is important to always read the fine print before deciding to opt for one.
• No pre-existing conditions
  Travel insurances never cover medical emergencies that can arise due to pre-existing health conditions. For instance, if a traveler is hospitalized due to low blood sugar levels and he/she has suffered from diabetes for a while, the expenses for these medicals will not be covered. In the same vein, self-induced illnesses are not covered. These include situations where a person might fall ill due to excessive consumption alcohol or illegal substances.
• Many exclusions
  Often travel insurances come with a long and detailed fine print of what is not included. Apart from this, there are many conditions that need to be fulfilled if the insurance is to be honored. For instance, most travel insurances are invalid unless you travel 100 miles or more from your home. It is always important to read the fine print carefully before deciding.