11 november 2023    •   TIPS 

Why Buying Travel Insurance From An Insurance Company Saves You Money

Travel insurance is an essential component of any trip, providing travelers with financial protection and peace of mind. By purchasing travel insurance policies, you can save yourself from unexpected expenses and potential losses during your journey.


Taking the proactive step of buying trip insurance isn’t just a safeguard from unforeseen circumstances, but it also saves money in the long run. The financial protection it provides ensures that you have a worry-free and enjoyable experience during your travels, knowing you can safely cancel for any reason!



The Benefits of Investing in Travel Insurance

Reimbursement for unforeseen events

Travel insurance coverage provides significant reimbursement for unforeseen events that can disrupt your travel plans. Whether it's a sudden illness, a family emergency, or a natural disaster, having travel insurance ensures that you are financially protected against non-refundable trip expenses, unexpected cancellations, flight delays, or trip interruptions.

Flight cancellations and delays are common occurrences, and they can lead to additional expenses such as hotel accommodations, meals, and transportation. Travel insurance covers these costs, relieving you of any financial burden and allowing you to make alternate travel arrangements without worrying about extra expenses.

If your trip is interrupted due to unforeseen circumstances such as a medical issue or a family member's illness, travel insurance can provide reimbursement for the unused portion of your trip, including prepaid expenses such as hotel reservations, tours, and activities.

Non-refundable expenses

Many travel arrangements, such as airline tickets, hotel bookings, and tour packages, are non-refundable. In the event of cancellations, travel insurance can reimburse you for these non-refundable expenses, ensuring that you don't lose out on the money you've already spent.

The Risks of Traveling Without Insurance Coverage

Medical emergencies abroad

One of the biggest risks of traveling without insurance coverage is facing unexpected medical emergencies abroad. Without it, you may be responsible for paying expensive medical bills out of pocket, including hospital stays, doctor's fees, and emergency medical transportation. Medical evacuation insurance, for example, may be necessary for potentially dangerous trips to remote locations, such as skiing on a mountain range.

Inadequate travel assistance

Travel insurance not only provides financial coverage but also offers valuable travel assistance services. These services can include 24/7 helpline support, emergency medical evacuation, and access to a network of medical providers. Without insurance, you may lack access to these critical services when you need them the most.

Luggage loss or theft

Traveling without insurance coverage puts you at risk of losing your luggage or having it stolen. This can be a frustrating and costly experience, as you will have to bear the expense of replacing essential items and personal belongings. Travel insurance provides compensation for lost, damaged, or stolen baggage, minimizing the financial impact of such incidents.

If your luggage goes missing or is stolen, you may find yourself without necessary items such as clothing, toiletries, and personal belongings. Travel insurance can cover the cost of replacing these essential items, allowing you to continue your trip without significant disruptions.

Reimbursement for personal belongings

Your luggage often contains valuable personal belongings, including electronics, jewelry, and other items of significant worth. Without lost baggage insurance, the cost of replacing these items can be substantial. With proper coverage, you can be reimbursed for the value of your lost belongings, reducing the financial burden.

Traveling without insurance coverage exposes you to significant financial risks and potential hardships. From medical emergencies to lost luggage and flight disruptions, the absence of travel insurance can leave you vulnerable during your trip. Protect yourself and your finances by investing with comprehensive coverage before embarking on your next journey by allowing you to cancel for any reason and not worry about additional trip expenses.


Protecting Yourself from Medical Emergencies While Traveling

Comprehensive medical coverage

One of the primary benefits of travel health insurance is the comprehensive medical coverage it provides. In the event of a medical emergency while traveling, travel insurance ensures that you have access to necessary healthcare services and covers the associated emergency medical expenses, including hospital stays, surgeries, medications, and transportation to the nearest adequate medical facility.

Emergency medical evacuation

In severe situations where local medical facilities are inadequate, travel medical insurance can arrange and cover the cost of emergency evacuation to the nearest suitable medical facility. This service becomes vital if you require specialized medical treatment or need to be transported back to your home country for further care.

Medical assistance services

Travel medical insurance often doubles as medical insurance, as it includes medical assistance services that can provide invaluable support while you are overseas. These services may include access to medical professionals who can offer guidance, connections to local medical facilities, and assistance in navigating foreign healthcare systems, ensuring you receive appropriate medical care during your trip.

According to a report by the World Health Organization (WHO), health-related problems account for approximately 50% of travel-associated issues. From minor illnesses to major accidents, being prepared with travel insurance is crucial to protect yourself from the potentially exorbitant medical expenses incurred from emergencies.

Peace of mind

Knowing that you have travel coverage for medical emergencies provides you with peace of mind during your trip. As you explore new destinations and engage in various activities, you can focus on enjoying your experience rather than worrying about the financial implications of a sudden health crisis.

Traveling can sometimes involve unforeseen medical emergencies, but with the right  insurance coverage, you can mitigate these risks and ensure that you receive the necessary medical care without worrying about the financial burden. Prioritizing your health and well-being while traveling is essential, and travel insurance helps you do just that. Just ensure that your coverage limits still include the most likely reasons for cancellation, so you can receive partial reimbursement.

Trip Cancellation Insurance: Why It's Important to Have Coverage

Protection for non-refundable expenses

Trip cancellation insurance is an essential component of travel insurance, providing coverage for non-refundable expenses if you need to cancel your trip due to unforeseen circumstances. Whether it's a travel delay, personal emergency, illness, or any other covered reason, this insurance ensures that you receive reimbursement for the expenses you have already incurred, such as flight tickets due to missed airline connections or flight delays.

Cost of trip cancellation

Canceling a trip can result in significant monetary losses, especially if you have prepaid for flights, accommodations, tours, or other non-refundable expenses. Without trip cancellation coverage, you may be left shouldering these costs yourself, potentially amounting to thousands of dollars.

Unforeseen emergencies such as a sudden illness, family emergency, or natural disaster can force you to cancel your trip at the last minute. Cancellation plans provide financial protection in these emergency situations, allowing you to recover a significant portion of the money you've invested in the trip.


Knowing that you have this type of insurance coverage provides you with peace of mind when planning your trip. Even if unforeseen circumstances arise, you can cancel your trip without the worry of losing all the money you've invested in it. This assurance allows you to book in advance and take advantage of early booking discounts without the fear of financial loss.

Customizing Your Travel Insurance for Your Needs

Range of coverage options

When buying travel insurance, you have the benefit of choosing from a range of coverage options that can be customized to meet your specific needs. Whether you need coverage for medical emergencies, trip cancellations, or lost baggage, insurance companies offer plans with varying levels of coverage to suit your requirements.

Duration of coverage

When you purchase travel insurance plans, they can be tailored to the duration of your trip, whether it's a short weekend getaway or a long-term vacation. Travel insurance providers offer coverage for a single trip or opt for annual plans that provide coverage for multiple trips throughout the year, depending on your travel frequency and preferences.

Additional coverage add-ons

Insurance companies often offer additional coverage add-ons that you can include in your travel insurance policy. These add-ons may include coverage for adventure activities, rental car protection, pre-existing medical conditions, or even coverage for pets traveling with you. Customizing your travel insurance allows you to address specific needs and potential risks associated with your trip.

How Travel Insurance from Oona Saves You Money and Offers Peace of Mind

Financial protection for unexpected events

Travel insurance cost is based on multiple factors, such as the duration of the trip and the health details of the traveler, but it provides valuable financial protection for unforeseen events that can occur during your trip. From trip cancellations and delays to medical emergencies and lost baggage, travel insurance offers coverage that can save you from significant out-of-pocket expenses.

Cost of travel insurance vs. potential losses

The cost of travel insurance is relatively small compared to the potential financial losses that can occur while traveling. By investing in travel insurance, you are safeguarding your finances and ensuring that you are protected from unexpected expenses that can arise during your trip.

Access to travel assistance services

Insurance companies provide access to travel assistance services that can be invaluable during your trip. These services can include 24/7 helpline support, emergency medical evacuation, and assistance with travel arrangements. Having access to these services offers peace of mind and ensures that you have the necessary support in case of emergencies.

Coverage tailored to your needs

Insurance companies offer a variety of travel insurance plans that cater to different travel needs. Whether you are a frequent traveler, a backpacker, or traveling with family, you can customize your coverage to suit your specific requirements. This ensures that you are getting the right level of protection without paying for coverage you don't need.

For all of Life’s Twists, There’s Oona

Travel insurance saves you money by protecting you from unexpected expenses and potential financial losses that can occur during your trip. Beyond the financial benefits, it provides peace of mind and a sense of security, allowing you to travel with confidence and focus on creating memorable experiences.

And when it comes to international travel insurance, Oona stands out as the provider offering the most comprehensive coverage in 2024. Oona should be your go-to choice for:

  • Extensive coverage options

  • Flexible plans

  • Exceptional customer service

  • Competitive pricing

By purchasing travel insurance, you gain financial protection for unforeseen events such as trip cancellations, medical emergencies, and lost luggage. The cost of travel insurance is small compared to the potential financial losses that can occur during a trip, making it a cost-effective choice.

Frequently Asked Questions

What does travel insurance in the Philippines typically cover?

Travel insurance coverage can vary, but it commonly includes protection against trip cancellations or interruptions, medical emergencies, lost or delayed baggage, and travel-related accidents. It's crucial to understand the specific inclusions and exclusions of your policy, as coverage can differ between insurance providers.

How does travel insurance handle pre-existing medical conditions?

Many travel insurance policies in the Philippines have specific terms regarding pre-existing medical conditions. It's important to inquire about coverage for pre-existing conditions, as some policies may have limitations or exclusions. Some insurers offer coverage for pre-existing conditions if certain criteria are met, while others may require additional premium payments.

What steps should I take in case of an emergency while traveling and needing to make a claim?

In the event of an emergency, it's crucial to contact your insurance provider as soon as possible. Most travel insurance companies have a 24/7 helpline for assistance. Be prepared to provide relevant information such as your policy number, details of the incident, and any supporting documentation. Understanding the claims process, documentation requirements, and having emergency contact information readily available can help expedite the resolution of your claim.

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