Traps of travel insurance

TRAPS of Travel insurance -

 An international credit or ATM card is the least risky form of conducting your transactions abroad. Carrying a card ensures that you need not carry much cash, and whenever you run out of money, you can always withdraw more from an ATM or simply charge your expenses to your account. Sounds fuss-free? It is, as long as you ignore the massive currency conversion and service charges you keep racking up at your bank.

 While this is the easiest way to carry money, it’s also the riskiest. You do need to carry some cash to cover immediate and small expenses like transport, food and drinks. However, relying only on cash throughout your trip puts you at the mercy of pickpockets and money exchange services, which often charge an extremely high commission and give you a lower rate than the market standard. A cash-only plan also requires you to be on your guard against overspending. After all, what happens if you run out of money?

 This tried-and-true method of carrying money offers a great advantage over theft and misplacement. As long as you remember the cheque numbers, or have photocopies, you can get them encashed even if the cheques themselves have been lost of stolen. So what’s the problem, you ask? The flat fee for encashment – which can make small transactions burdensome, and your overall transaction bill very expensive.