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Is Travel Insurance a Must Have?

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What is Travel Insurance for?

Travel insurance is a type of insurance policy designed to cover unexpected events and emergencies while travelling. It typically provides coverage for things like trip cancellation or interruption, emergency medical expenses, lost or stolen luggage, and other travel-related issues. Depending on the policy and the insurance provider, travel insurance can offer different types of coverage and benefits. Some policies may only cover medical emergencies while others may include additional benefits.

Is Travel Insurance Important?

Travel insurance is important because it provides protection and financial security in case unexpected events occur while travelling. These unexpected events can include medical emergencies, accidental death or injuries, cancellation of a trip due to personal reasons and even losses of belongings. Having a travel insurance policy can help alleviate the financial burden and stress associated with these situations.

The debate around whether travel insurance is necessary largely depends on individual circumstances and personal preferences. Some people may argue that travel insurance is unnecessary because they believe they are unlikely to experience any issues while travelling, and the cost of travel insurance is simply an additional expense that they can do without.

Ultimately, the decision of whether to purchase travel insurance is a personal one that depends on individual circumstances and risk tolerance. It is important to carefully evaluate your travel plans and potential risks before deciding whether travel insurance is necessary for you.

The Benefits of Travel Insurance 

Travel insurance can provide a wide range of benefits that can help protect you and your travel investment while you are away from home. Let’s look at some of the key benefits of travel insurance.

Medical Emergency Coverage

One of the primary benefits of travel insurance is that it can provide coverage for medical emergencies while you are travelling. This can be especially important if you are travelling to a country with high medical costs or limited access to quality medical care. Travel insurance can cover the cost of hospitalization, emergency medical evacuation, and evacuation if you become seriously ill or injured while travelling.

Curtailment or Cutting The Trip Short Because of Emergency

Another important benefit of travel insurance is that it can provide coverage if your trip is cancelled or interrupted due to unforeseen circumstances. This can include natural disasters, severe weather, illness or injury, or the death of a family member. Travel insurance can provide reimbursement for your non-refundable travel expenses, such as airfare, hotel reservations, and tour packages.

Loss of Luggage Coverage

Apart from that, no one wishes to lose their belongings when travelling but when it does happen, it can be a frustrating experience, particularly if it contains important items such as passports, travel documents, or medication. Travel insurance can provide coverage for lost or stolen luggage, which can include reimbursement for the cost of replacing items that are essential for your trip. This can again, help eliminate the stress and financial burden of losing your luggage.

Travel Delay Coverage 

Other than that, travel delays or cancellations due to weather, mechanical problems, or other issues can also be disruptive and costly. Having a policy ready can assist you with travel delays or cancellations, including reimbursement for expenses such as accommodations, meals, and transportation. This can help you to minimize the impact of unexpected delays on your travel plans.

24-hour Emergency Hotline

Additionally, many travel insurance policies include 24-hour emergency assistance which can provide help with medical emergencies, travel delays, lost or stolen passports, and other issues that may arise while travelling. This can include access to a 24-hour hotline staffed by trained professionals who can provide assistance and advice on a wide range of travel-related issues.

Whether you are travelling for business or pleasure, it is important to consider the potential risks and benefits of travel insurance to ensure that you are adequately protected while you are away from home.

How Travel Insurance Can Save You 

Let's say you have booked a trip and purchased travel insurance. During your trip, your luggage is lost by the airline. If your travel insurance policy includes coverage for lost or stolen luggage, you can file a claim and receive reimbursement for the cost of replacing essential items that were in your luggage. This can help you avoid the stress and financial burden of having to replace items out of pocket.

The Cost of Travel Insurance

The cost of travel insurance can vary widely depending on several factors such as the level of coverage, length of trip, destination, and age of the traveller, among others.

With the help of Oyen, you may choose from three types of plans for your next trip! The plans are Wanderer, Traveller, and Explorer. Below is a range of costs of travel insurance provided by Oyen:

  • Wanderer: RM43 per trip 
  • Traveller: RM65 per trip
  • Explorer: RM75 per trip

It's recommended to compare prices from different travel insurance providers and review the coverage options carefully to find a policy that fits your needs and budget. But look no further when Oyen is near! Get a quote to prepare for your next adventure with the help of Oyen.


It's important to keep in mind that the cost of travel insurance can be well worth the investment, especially if you are travelling to a destination with high medical costs. Travel insurance can help protect you from unexpected financial losses due to trip cancellation or interruption, medical emergencies, or other unforeseen events. Provide yourself with valuable protection and peace of mind while travelling— an utterly crucial investment for any traveller!