Travel Insurance can simply be described as insurance coverage which takes care of risks which are involved in travelling. These risks can be various things including delays, loss of bags and luggage, and even death or injury while in a country that is not your own. That’s why we are analysing the cost of travel insurance in Nigeria.
Travelling is a pastime enjoyed by many people on earth. We are all born in a particular place, but throughout the course of our lives, we will be fascinated by the thought of living in other parts of the country or continent we are from, and indeed, other parts of the world as a whole.
COST OF TRAVEL INSURANCE IN NIGERIA
With technology, such as televisions, mobile phones, and computers, we can see how people in other parts of the country, continent or world live in, but none of these devices can recreate the feeling gotten from actually being in those places. People travel for various reasons, with the most popular being either business or pleasure. Many countries in the world are renowned as being tourist hotspots because tourists flock to them at specific times in the year to enjoy the various sights, thrills, and chills offered at these locations. Other countries are good in terms of education and as such receive a large number of people looking to take advantage of the ripe educational sector to further their education. One could also travel for relaxation, say after a wedding. A country like Seychelles on the continent of Africa is known to be a prime honeymoon spot for newlyweds and is frequented by that demographic throughout the year. Medical tourism where people travel to other countries with better healthcare facilities is also a common reason for travelling and then there’s also the reason for business.
Whatever your reason for travelling, be it for business, medical, vacation, studies tourism or anything else, accidents can happen during or after your journey, and these accidents can be truly expensive sometimes. Problems that occur during travel could be accidental, criminal or even medical and in such a case, having insurance can be a simple Godsend to bail you out of a tricky situation.
Getting the right policy can be a truly herculean task as there are myriad policies that may not be right for you or are simply shady and aim to dupe you, but that does not in any way, take away from the benefit of travel insurance.
DO I REALLY NEED TO BE INSURED WHEN I’M TRAVELING?
To be very honest, the answer to this question depends on just how much of a risk-taker you are when it comes to travelling. A travel insurance policy, you will find out, keeps you covered in case any mishap happens as regards your journey, including the very possibility that you may end up not going on the trip at all. In most cases, before you travel, you will be required to pay money beforehand, which means that if anything were to happen – say the death of a relative, an exceptionally bad traffic jam, personal injury and so on – which prevents you from taking the trip, without insurance, you could very well lose the money. Many travel insurance policies keep you covered in case of cancellation or if you miss your departure.
Aside from the cases that may result in your not taking the trip anymore, a holiday can be predictable. Yes, you set out to have a good time and relax and forget your stress, but anything could go wrong. In a new city, one could be the victim of theft, or maybe, due to some unforeseen allergic reaction or anything else really, one could also need medical evacuation, or in really bad cases, one could die in a foreign country. The aforementioned situations each come with various price tags of their own and without travel insurance to cover some or all of the costs, it can be a truly frustrating thing.
What travel insurance does is protect you against something during your proposed trip that may never happen, and that is the reason it all depends on you. You need to reflect and decide on how much you are willing to risk on the off-chance that nothing happens. You need to ask yourself whether it is better to be prepared for anything or to be simply optimistic about your own safety and the safety of your travel plans.
STILL ON COST OF TRAVEL INSURANCE IN NIGERIA
IS IT UNWISE TO TRAVEL WITHOUT TRAVEL INSURANCE?
Not considering whether or not you may need to take out travel insurance is unwise, but however, you may not always need to travel with travel insurance. In some countries, it is compulsory for every overseas visitor to the country to have travel insurance while one may rationally choose not to get insured while travelling to other countries. One who may have booked a package holiday to the Med, for instance, can give or sell the trip to another person if one is unable to go for the trip, even though a name change fee is applicable in this case. Most European countries have EHIC (European Health Insurance card) covering and as such one would be treated on the same basis as citizens of the country. Furthermore, one may already have some form of covering for your valuables and belongings, as part of another policy, such as your household policy, so as such you can travel knowing that the things you are travelling with, are insured. People whose medical conditions or age makes high premiums something they face may sensibly decide not to insure. However, all these are some exceptions, and in general, taking out travel insurance, for most travellers is heavily advised.
IF I DECIDE TO INSURE, SHOULD IT BE A SINGLE TRIP OR ANNUAL POLICY?
This depends on the type of trips you take. If you are a frequent annual traveller while the single trip policy on the specific trips may work for a while, eventually, you may still need to go for a plan that covers more trips, subject to a maximum length of trips involved (which is usually a month).
WILL PRICE COMPARISON SITES HELP ME?
It is always important to get a range of prices to expect especially when you are under 65 and have no already existing medical conditions, and if you hope to go on many trips and adventures.
Cheap policies will usually give strong covering for the medical aspect but as for the aspects of cancellation, loss of property and things such as delays, the covering may be limited, or there may be no covering at all.
Once you find a policy that you are happy with, after making sure that you are okay with everything involved (Always read the fine print) then you can go ahead and get it. Always think deeply about the risks that are important to you and then endeavour to get policies that cover them properly.
COST OF TRAVEL INSURANCE IN NIGERIA
Travel Insurance for Schengen travellers
For people travelling to Europe is known as the Schengen area are expected to take travel insurance provided by a Schengen insurance company. The general policy includes coverage of expenses, sickness, accidents, medical expenses, and importantly possible repatriation, to the maximum of 30,000 Euros.
WHERE CAN I BUY TRAVEL INSURANCE IN NIGERIA?
Most travel companies in Nigeria will usually offer you travel insurance when you are undergoing the process of booking for a ticket. What this means is that you are in luck. The wise thing to do, as was previously stated would be to compare and contrast the various policies available as well as the prices before going ahead to choose the one to get.
Many of the insurance companies in the country offer various policies that protect you in case of different scenarios, and they usually work hand in hand with travel companies.
Some of these places where you can buy travel insurance are:
- Zenith Insurance
- Mansard Insurance
- Leadway Travel Insurance
- Industrial general Insurance
- AIICO insurance
- Mutual Benefits Insurance
- Cornerstone Insurance
- Linkage insurance
The cost of travel insurance in Nigeria, as with most places varies. One can only visit the various companies that offer insurance in the country to get an idea of the price range based on the type of coverage one desires and then compare and contrast. Usually, one would be offered different travel insurance policies and based on what they cover, they would cost different amounts. The insurance companies listed above are some of the most trustworthy sources of travel insurance in the country and with their help and quotes, one can easily arrive at A price range to tailor one’s budget towards.
CONCLUSION ON THE COST OF TRAVEL INSURANCE IN NIGERIA
travelling is an activity that is meant to be fun and stress-free. However, as with most things, sometimes accidents happen. One could easily misplace luggage or have them stolen. Medical emergencies. There are so many possibilities that may or may not happen but in many cases should be covered against. When these problems arise, depending on the actions that have been taken prior, one may either be left with happiness at the reduced cost or no cost at all, of solving the problem, due to insurance, or one could be left with regret at not taking insuraqnce when one should have. The choice is yours.
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