If you are a perennial traveler who needs to get out and explore the world every now and then, you might benefit from a travel insurance plan. Travel insurance ensures you’re completely secured in case of illness, injury, medical emergencies, and in some cases even lost luggage, in unforseen travel circumstances.

However, many people pay for travel insurance and never use it during a trip, which may cause you pause when deciding or not to pay for travel insurance on your next trip. Obviously, travel insurance has both advantages and disadvantages to consider, such as:

1. Annual travel insurance

If you frequently out of the country to exotic locations and abroad, an annual travel insurance policy may make the most sense instead of paying for different insurance policies whenever you fly abroad. An annual plan offers coverage expenditure on anywhere you travel during the policy dates (usually 90 days or yearly). If you choose to fly abroad more than 3 times a year, an annual insurance plan offers the advantage and peace of mind of consistent medical and emergency coverage wherever you fly, and avoids hassles such as coverage lapse or term benefit resets with every trip.

2. Preconditions

Most of the time, most travel insurance list several medical preconditions they won’t cover. This means if you suffer from one of these numerous preconditions and fall sick while travelling, your medical expenses will not be covered if you’re illness or injury can be linked to your precondition if you have any of the following:

• Gastrointestinal diseases
• Diabetes
• Heart conditions (or high blood pressure)
• Cancer
• Breathing conditions (i.e., asthma)
• Joint and bone conditions

3. Distance limits

Another provision placed on many travel insurance plans is distance. For instance, many are limited to 100 miles away from home, or limited to travel inside North America (i.e., U.S., Canada, and Mexico. Travel beyond those distance limits means insurance will be null and void in situations of injury, medical emergency, or lost luggage.

4. Terrorism and natural calamities

Some of the travel insurance plans may feature small print that limits coverage in situations of terrorism or natural calamities (i.e., hurricane). Also, partaking in hazardous sports can also void the terms and conditions of many insurance plans, so be sure to read the fine print thoroughly.