Here’s why you should get travel insurance for your next trip

You’ve just booked your next trip and have your itinerary all ironed out. But then a nagging thought comes to your mind: What if something goes wrong?

That’s what travel insurance is for. A leisure trip is all about enjoying yourself, and getting travel insurance is a safety net that allows you to let go of all those worries. A delayed flight, lost baggage, and even a medical emergency can derail that trip you’ve planned for months. Travel insurance covers all that and even more.

Here, we talked to Cherry Gealon, Marketing Operations and Platform Management Officer of BPI MS Insurance, about why you should get travel insurance for your next trip.

Travel insurance is like a safety net. It’s there to catch you when things go wrong. “It’s easy to take travel insurance for granted because travel is often associated with good experiences,” says Cherry. “Nobody goes on a vacation dreaming of flight delays or cancellations, loss of passport or baggage, getting into accidents or needing hospitalization.” 

But when things go south, it’s the absolute worst to have to lose money or even fall into debt for things you don’t want. With insurance, you at least get reimbursed and compensated for covered items. 

That’s a common misconception. People think, “it’ll never happen to me.” But the truth is, accidents and unexpected events can occur at any time. And the root cause of this misconception boils down to a lack of information and understanding about what insurance is and what it can do for you.

For example, the BPI MS Travel Personal Accident Insurance for only about Php 1,000, and it already covers 19 benefits, three of which will pay up to a combined amount of P3 million. “It’s even more like winning the prize of a wager or bet even if you lose the game,” says Cherry. “So you put up Php 1,000 in insurance in case bad things happen, and when they do — like if you get confined in a hospital abroad — you can access up to Php 1 million in medical reimbursements.”

Absolutely. Even a short domestic trip can be derailed by unexpected events, and these can quickly turn a fun vacation into a stressful ordeal. Travel insurance can help mitigate the financial impact of these situations, allowing you to focus on enjoying your trip instead of worrying about the bills. As Cherry advises, “For as long as we cannot guarantee and we cannot completely prevent untoward events from happening during our travels, insurance will always be relevant.”

There are three main things Cherry says to look out for when getting travel insurance:

1. Choose a reputable provider: Insurance policies from established providers may cost a bit more, but the peace of mind is well worth it. “[You’ll be] assured they will be at your service when you need them the most,” says Cherry. “There’s no point in paying for cheap travel insurance that you won’t be able to contact or won’t pay out your claims later.”

2. Consider the coverage: Calculate how much it would take to replace your luggage and rebook your flights and accommodation. The more expensive the replacement costs, the higher insurance coverage you may need, says Cherry.

3. Check your destination’s requirements: Some countries may have different insurance requirements for tourists. For example, the Schengen region in Europe has specific requirements for travelers.

Cherry also shared an additional tip: You can always talk to your insurance provider and share your plans so you get the right product and coverage recommendation. She says, “reputable non-life insurance providers such as BPI MS can customize your limits and coverage depending on your needs.”

Cherry has heard countless stories from clients about dream vacations turned into nightmares, but these were all saved just by having travel insurance. “Imagine traveling to attend an important formal event, and your clothes are accidentally sent to another part of the world,” Cherry says, “Buying a gown or suit you may just use once in a foreign country can be expensive and impractical. For these scenarios, our clients were just happy to have been properly insured.”

To learn more about BPI MS’ travel insurance plans, visit bpims.com. And to read more tips to reach your next milestone, visit The Program by NEXT.