How Insurance Can Protect Young Adults From Travel Risks
Young adults are at a great point in their lives to travel. There are so many different opportunities and occasions for taking trips—be it for vacation, spring break, study abroad, or business. However, traveling does come with a variety of risks, especially if the vacationer is not as experienced with traveling. Different kinds of insurance can help protect against unexpected problems and costs that young adults and students often face while traveling.
Travel Logistics: Will You Make it There on Time?
Life is unpredictable, and many people sometimes end up with ruined trips because of it. Young adults and students have many different kinds of travelling choices available to them like summer vacations, spring break, business trips, study abroad, academic retreats, and even just traveling to and from school. Whether they miss their flight or get ill and have to cancel, rescheduling trips can be expensive and wrought with high fines. Travel insurance plans can help cover such financial risks, offer you information you need on the go, and some even have baggage protection and travel assistance available.
Existing health insurance plans will not always cover medical expenses while traveling, and likely will not coordinate a medical evacuation back home. Travel insurance can offer this added protection too. Check your travel plan to see what benefits you qualify for, and speak with an agent to help find a plan specific to your own unique needs.
Health: Accidents Happen
While there is always the possibility of facing unforeseen medical issues, the risks can be greater when traveling. In an unfamiliar location, there can be a lot of different threats to one’s health—be it from crossing a roadway with opposite traffic patterns or being exposed to different illnesses than those at home. If you’re in a remote area or out of your home country, the medical care most readily available may not always be the best. Getting sick or injured in a foreign country can be especially intimidating since it is so far from the comfort and familiarities of home.
Having health insurance can be an important asset to have to protect against medical costs when traveling. Things like emergency room visits, ambulance rides, and prescription drugs can be some of the things covered by health insurance. Coordinated medical evacuation is another potential benefit of some health and travel insurances, so you can be transported to where you can get the care you need.
Short-term health insurance can also be particularly ideal for traveling, since you can get coverage for the exact number of days needed. For someone studying abroad—whether it is a student overseas or an overseas student in the US—you may want to consider an international student health plan if your current health plan does not cover you outside of your home country.
Theft: A Traveler’s Nightmare
Pick pockets feed on unsuspecting travelers, especially seemingly easy targets like young adults and students. Hotels, hostels, and inns can experience break-ins, creating another way thieves can steal from travelers. Personal belongings lost to theft can be big expenses, but what’s even worse is the risk of identity theft.
People in the 18 to 24 age range are the most at risk for identity theft, and what’s more, it takes them longer to realize that they have been defrauded (James Van Dyke, president of Javelin Strategy & Research). The chaos and unfamiliar surroundings associated with traveling can put one especially at risk for becoming a victim of identity theft. If a credit card gets lost, a purse is forgotten in a public place, or a wallet is stolen, identity theft, fraud, and the selling of your information become huge possibilities.
Identity theft insurance would help with every step of the process—protecting from charges, calling banks, and canceling cards. For other lost or stolen assets—like electronics, baggage, etc.—renters insurance can be a valuable resource too. While it protects against damages and losses of many personal belongings in one’s residence, those belongings do not have to be in the residence at the time of loss for them to be covered. This means that if you become a victim of theft when traveling, renters insurance could help cover the costs of replacing your stolen items. In addition, if damages occur to the residence when a renter is away traveling, their residence will stay protected in their absence. Many renters insurance policies are transferable, so if you move abroad for the semester, your new apartment will likely be covered too.
Before doing any kind of traveling, young adults and students should be aware of the risks they face. They should always keep their IDs on them, carry a list of emergency numbers and contacts, and pack a first aid kit. It is also helpful to research and read up on travel locations, especially if it is a foreign country, in order to get a better idea of any specific possible hazards. It’s important that students and young adults always take the proper precautions when traveling, but in the event of a problem, insurance can help.