Travelling This Coming Holiday Season? Insurance Must Be On Your Checklist
The end of the year is typically a period many people travel to visit families and friends – within and outside the country. For many of us, it’s usually a ‘travel galore’ from one destination to the next, to attend functions and share precious moments with loved ones. Unfortunately, beyond the holiday fun and excitement, travelling during this period comes with risks that may jeopardise the fun and excitement.
So, when planning your trips for the yuletide season, it is necessary to have a travel plan to guard your journey across loss. If you are embarking on a road trip, it is critically important to service the vehicle, change the tires, and renew your vehicle particulars among others. Above all, it is absolutely vital that you consider getting an insurance cover, be it a local or international trip that you are planning. Below are some insurance plans we have identified for your consideration:
Motor Vehicle Insurance
The increase in road travels during holidays is a leading cause increased road accidents. According to the Federal Road Safety Corps (FRSC), the last quarter of the year has consistently recorded the highest cases of road crashes. For instance, 30% of all the 11,363 road crashes in 2016 occurred during this period.
Whilst you may be a careful driver, you can’t certainly say that of other road users. According to the FRSC, 33.86% of the total road crashes that occur yearly are caused by over speeding drivers, who may be driving under the influence of alcohol and, as a result, pose a huge risk to unsuspecting road users.
This brings to the fore the issue of the safety of your vehicle on the road. If you are yet to get a comprehensive motor vehicle insurance, now will be a time to consider purchasing one. With the high probability of road travel accidents during holidays, traveling with your loved ones in an uninsured vehicle might just be the perfect way to ruin the holiday.
Personal Accident Insurance
While traveling in a commercial or hired vehicle might come with the convenience of being driven, you may not be immune to the aforementioned risks on Nigerian roads. In fact, data from the FRSC reveal that a staggering 56.60% of vehicles involved in road crashes in 2016 were commercial road transport vehicles. It is not uncommon for many commercial bus drivers to drive recklessly so as to meet up with the demand of the season and also make extra cash.
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In your best interest, if you plan on travelling via commercial transport, it will be advisable to get a personal accident insurance plan to protect you from the negative financial consequences of the risks that abound on Nigerian roads. With a personal accident policy, you are covered for bodily injuries caused by accidents resulting in death, total or permanent disability, as well as medical expenses.
Traveling abroad for the holidays? Well, international travellers are also faced with uncertainties, which could ruin an exciting holiday. This is because there are so many things that could potentially go wrong while on an international trip. You could face a medical emergency, lose your credit card/cash or valuables, experience flight delay or cancellation, and may even be involved in a personal accident. Facing any of these risks away from the comfort of your home country can even be more traumatising without a travel insurance plan to protect you in event of such incidences.
In 2014, a staggering 21.4 million bags were either lost or mishandled in airports worldwide. Even delayed flights can completely ruin holiday plans for you and your family. According to the U.S Bureau of Transportation, more than 1 million flights were delayed between 2015 and 2016, while about 500 flights were cancelled across airports globally during the same period.
Travel insurance can help minimize the financial burden and frustrations when things go awry abroad. Travel insurance also covers you for medical assistance that covers out-of-pocket expenses, medical expenses & medical repatriation, if required.
Leadway Assurance, Nigeria’s leading insurance company, has developed products along these concerns for almost half-a-century. The Leadway Personal Accident plan, for one, is an insurance policy that assures you of cover in the event of an accident. For as low as N6, 000 and N7, 500 annually, you are covered 24-hrs a day for medical expenses of up to ₦100,000.00, death benefit limit of up to ₦500,000.00, burial expenses of ₦100,000.00, permanent disability limit of ₦500,000.00, and temporary disablement limit of ₦100,000.00. The personal accident policy is also extendable to cover accidents involving motorcycling.
In addition, the Leadway Travel Insurance covers all international travellers from financial exposures that result from unforeseen medical emergencies, loss of property, loss of money, and even loss of credit or debit cards!
Leadway’s pedigree, experience and integrity have helped millions of Nigerians recover financially from the incidents that were beyond their control. This is further underpinned by a track record of consistency and prompt response in the event of such an incidence.
So, plan your end of the year holiday wisely. Call Leadway Assurance today on (01) 2800 700, 2800 701 or +2348129997175, or send an email to Lcs@leadway.com for more details on our insurance products designed to put your mind at ease.