A Waste Of Money?

Discussion in 'Travel Insurance' started by to7update, Dec 13, 2016.

  1. to7update

    to7updateActive Member

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    Just recently I took a trip of 4 days to Amsterdam and my wife insisted that we bought the travel insurance. I mean, it's not that expensive, but it's money. I usually prefer not to get insured because what possibly can happen in 4 days? Of course we finally bought it and nothing happen, so I feel it was wasted money.

    What is your opinion?
     
  2. Belovedad

    BelovedadActive Member

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    Yeah, my only opinion is that it's a waste of money. Chances of something happening is too low and even if it happens, insurance probably won't be enough to cover all the effects. It's best you get it though if you're travelling with family to give them some assurance.
     
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  3. Alexandoy

    AlexandoyWell-Known Member

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    I am not keen on travel insurance because I am a fatalist. It’s like if it will happen then it will. And most likely, accidents don’t happen to me so I am confident not to get a travel insurance. However, my wife is conscious of those unforseen events so she is buying travel insurance sometimes.
     
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  4. Kaushik Angara

    Kaushik AngaraActive Member

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    Insurance is never a waste because you never know what might happen. Yes, the insurance companies are enjoying a huge benefit because they don't lose out much but we need to be at a safer side in case something happens. If the insurance costs a bomb, it is an individual's choice but if you can afford it, please do take it. What it does is it puts you into a safe position should something happen.

    I am reiterating the same thing again. We do not think when we spend money on silly things such as fun rides, expensive dinners, and stuff but when it comes to insurance, we suddenly start thinking about money. If it's affordable, definitely take it.
     
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  5. Decentlady

    DecentladyActive Member

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    I have never taken travel insurance. This is because I wasn't aware of its existence. The next time I travel I must look into it. It may be worth it especially for long journeys.
     
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  6. Nakitakona

    NakitakonaActive Member

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    In everything there is a season. Who knows what will happen today, tomorrow. What has suggested by your wife to get a travel insurance is a preparation that something might happen beyond your control. In my case, for example, I have been working in the government for 25 years and I have been paying my life insurance for 25 years too. Did I waste the money that I paid for the premium? For me, it is not. I don't know yours!
     
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  7. to7update

    to7updateActive Member

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    Yeah, if I think about it, it's not that much money and we are safe in case something happens, but at the same time I kind of feel stupid paying money for something that might happen or not. I guess that this is how insurance companies make their money, all these paid policies and they have to do nothing to earn it.
     
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  8. kamai

    kamaiActive Member

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    I had never bought travel insurance since I never heard about it. If I knew about it I would most likely consider it especially if it's not too pricey one never knows what might happen. Before buying it I would make sure that it will be worth it in case something were to happen, like read the policies and make sure it will cover any type of accident.
     
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  9. Vinaya

    VinayaActive Member

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    I don't think it was a waste of money. Always think about "what if?' You got travel insurance and nothing happened in your 4 days travel. However, if something had happened and you had not been insured, you would have regretted your decision to to have travel insurance.
     
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  10. to7update

    to7updateActive Member

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    That's why I make the insurance all the time @Vinaya@Vinaya, but I have never used it, so I come to a point when I start doing the maths and realize the money I could have saved. The thing is people always play it safe and insurance companies play with that. Many times when the time for them to pay comes, it's not so easy though and that is not fair.
     
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  11. ptahm22

    ptahm22Active Member

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    I rarely travel for long periods but when I do I don't get a travel insurance. A travel insurance is very expensive in our country and very few people use it. I won't call it a waste of money but I don't think you need one.
     
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  12. luckycharm

    luckycharmActive Member

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    Totally agree with you. Insurance is not a waste of money as it insures your life for a specific period of time. Moreover, world is becoming quite unpredictable these days and there is no harm in spending some money towards something like travel insurance.

    Same is the case of health insurance too. We usually think that it is a useless thing but we never know when we need it the most. I think it is more relevant in travel insurance as you are vising a new place in a totally different atmosphere. There is no point in thinking about it afterwards.
     
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  13. to7update

    to7updateActive Member

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    You do have a good point, as I recently had a car accident and my insurance was so bad that almost got me into trouble. I just see travel insurance differently for some reason, as it's just for some days, but in fact we never know when bad luck comes to hit at our door.
     
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  14. kingcool52

    kingcool52Active Member

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    The problem is anything can happen any time and I guess insurance is great especially if you are travelling to another country. Just a small injury or problem could lead to very expensive bills without insurance. It's sad when in the end nothing happens but it is worth it. Most of the time insurance will be a waste of time but it is nice to have that backup net in case something bad happens
     
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  15. tonyb

    tonybActive Member

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    It looks like a waste of mponey, the fact is I consider it a wise step to have some insurance even if we are sure nothing is going to happen. As human beings we may not be able to predict situations 100% so going for insurance may just be right. Same applies to health insurance even where we are healthy we still need insurance for routine check up.
     
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  16. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    Well I think that insurance is a good thing to have for you just never know what will happen. We all need insurance. I feel it's a good idea to have insurance anyway. Your wife really loves her family that gets travel insurance. I think it's a good idea to get travel insurance always.
     
  17. moondebi

    moondebiActive Member

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    Though I never have taken a travel insurance but I cannot deny the benefits either. Travel insurance might come handy in an unexpected situation. God forbid, but something unforeseen might have happened and in an unknown place an insurance could be a savior. Given that most of the trips pass without any hassle as such, so at times it looks like a waste of money.
     
  18. to7update

    to7updateActive Member

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    The benefits of having an insurance are undeniable and that's why we take them, it's just the cost of the premium that many times make us opt out. All in all, it's always worth it because we never know what will happen and that's what insurance companies take advantage of.
     
  19. xTinx

    xTinxWell-Known Member

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    Better safe than sorry as I always say. I'm not as solvent as many folks so I tend to forego travel insurance whenever I book a flight abroad. However, I know how beneficial it is for people particularly for senior travellers. I do think if your means permit you to, you should always buy travel insurance every time you go on a trip. It's your fallback and safe haven against expensive medical fees and unexpected losses outside of your home country.
     
  20. efrain silva

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    Travel insurance is never really a waste of money, even though some specific forms may be more costly than others. I have sometimes skipped out on purchasing travel insurance, but then found that I nearly needed it. Travel insurance provides a peace of mind when there is so much at stake.