One thing about travel is its unpredictability. No matter how well you plan your travel itinerary, unforeseen events could still happen, thereby, disrupting your travel.
When this happens, how do you cushion the effects?. This is where travel insurance comes in.


Travel insurance is a plan that provides coverage on financial risks and losses that may occur while travelling.


In a bid to save cost, many travellers do not fancy the idea of buying insurance because they see it as a needless purchase that mostly never gets used and ends up being a waste. This notion should be discouraged because even though mishaps on a trip may not often occur, it is always good to be prepared in case of any unfortunate event. Travel insurance provides indemnity on any minor or major risks you may encounter during travel. It is wise to be equipped with travel insurance so that you’re not caught unaware and left stranded amid an unforeseen circumstance.


To get the best and adequate insurance cover for your travel needs, it is advisable to consider the following:

  • Choice of destination – countries have varying requirements for travel insurance. For example, to visit Turkey, it is required that your insurance covers the length of your trip, for Japan, you must have medical travel insurance lasting the duration of your trip. For Schengen countries, visitors must obtain Schengen travel health insurance for the entire trip duration, and you must have at least €30,000 in insurance coverage.
  • Age – if you’re above 65, your insurance will cost more due to increased health risks. The older you get, the more the cost of insurance.
  • Travel purpose – if the purpose of your travel is for vacation, where you’d be engaged in high-risk activities like skydiving, mountaineering, and skiing, you may be required to purchase some extras in your insurance policy.
  • Travel frequency – for frequent travellers, it is more economical and convenient to purchase an annual travel policy than a single-trip policy. Instead of buying a separate cover each time you travel, buy an annual travel policy that gets you coverage for twelve months.


In travel, timing is key and the same is true for travel insurance. The best time to buy travel insurance is as early as possible. It is advisable to buy your insurance when you make your flight booking, just in case you need to cancel your trip. In most cases, you can buy travel insurance up until your departure date but it is not advisable as you may miss out on some benefits.


Depending on some variables, the cost of travel insurance ranges between 4-10% of your total prepaid, non-refundable trip cost. For example, if your flight ticket costs NGN 500,000, your travel insurance costs should be between NGN 20,000 to NGN 50,000.


Before buying travel insurance, it is good for you to know its coverage and determine which policy meets all your travel requirements.

There are some basic covers your insurance policy must have, they are:

  • Medical expenses
  • Lost or damaged properties
  • Cancellation of flights
  • Personal Injury, accidents, or damages
  • Delayed baggage


Travel insurance is important for the reasons below:

  • Flight cancellation – should you cancel your flight long after booking, with travel insurance, you get a full refund. Additionally, in the case of your flight being grounded or cancelled, you need not worry because travel insurance gives you coverage for another flight.
  • Delayed or lost baggage/ personal items – travel insurance provides cover on lost items and delayed baggage. You get reimbursed if you lose your luggage and if your passport gets missing, insurance covers the cost of a replacement and hastens its recovery process.
  • Medical expenses – should you get sick and in need of medical care, travel insurance will cover your medical expenses. The last thing you want to be worried about when in need of urgent medical care is medical bills as they could cost more for you in a foreign country. Travel insurance covers medical expenses, saving you the stress of using money meant for food, tours, or shopping. You only have to focus on recuperating so you can get back to enjoying your trip.
  • Chaos or Unrest – unpleasant events like political unrest, revolt, terrorist attacks, and natural disasters, could happen in your intended country of visit and there may be a need for you to cancel your trip, insurance will provide a refund. If you are on the trip but caught up in an unrest or riot zone, and your booked accommodation is rendered unsafe, insurance will cover costs for travel and accommodation to a safe place.

Since risks and unpleasant events can happen anytime while on a trip, travel insurance helps you feel prepared and confident in navigating your way out of danger and into safety.

TravelBeta provides you with a comprehensive and affordable travel insurance policy. Contact us.

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