Insurance is an investment that can save you thousands when done correctly. Some insurances like health and car insurance may seem expensive but in the long run, given that there is a mishap, your insurance will protect you against the damage of many millions

Having no insurance will cost you more money than actually having it. Let’s look at how it can cost you more!

Medical Bills Vs Insurance Cover

Medical bills take up a significant part of your expenses. But having a travel insurance policy makes it much more affordable. Let's take a look at how much money we will be spending if we have travel insurance and if we don’t have one. 

If we are traveling to Schengen States for a week, we will need to buy travel insurance for Schengen visa, and the cheapest costs PKR 1,900 without Covid Cover and PKR 2,150 inclusive of Covid Cover. They cover the medical expenses up to USD 50,000 which is more than you will ever need on a one-week trip unless you face a gruesome accident costing you surgeries over surgeries. 

It can cover your basic hospital expenses and hospital stays that surely cost more than PKR 2,100. Hence having insurance is less expensive than not having one since you are saving a huge amount in disguise of a few thousand. 

Luggage Replacement Vs Insurance Cover

With insurance of around PKR 2,100 you will have a cover of USD 400 for your luggage. This includes loss of luggage that you will not be paying out of pocket. However without insurance, if you lose your luggage you might need to spend a lot more than PKR 2,100. This again proves the fact that not having insurance is a lot more expensive than having one.

Delayed Departure Vs Insurance Cover

In PKR 2,100 you get a cover of USD 300 for delayed departure which can easily cover a stay at a good hotel with nice meals which is hardly possible in double the amount of PKR 2,100. Without insurance, you will end up in the distress of trying to find a cheap alternative and might need to give up a meal or compromise on other necessities till your fight is confirmed. 

Theft And Total Loss Vs Insurance Cover

In car insurance, you can get insured at a 1.5% rate for a car worth PKR 750,000. Let’s say that the car is Mehran and the parts are readily available within the same city. Hence in case of total loss and theft, you can claim insurance worth PKR 11,250. In this amount your millions can be covered which you otherwise had to pay out of pocket in case you don’t have insurance. 

Looking at the analysis, we can conclude that having insurance is way cheaper than not having one and only relying on your income or savings to repair the damage or replace lost items. Insurance companies endorse saving your resources for the better and that is why not having insurance is way more expensive than having one. So get insured with Let’s Compare Online now!