Travel insurance is often seen as a grudge purchase as it is not a compulsory travel document. That said, it could be the only thing to save you from being left thousands of pounds out of pocket should something go wrong with your travel plans. Though we recommend travellers ensure they are buying a suitable travel insurance policy, Thailand appears to have gone one step further and are has been reported as looking to make travel insurance compulsory.
Thailand is expected to receive more than 40 million tourists this year.
According to press reports, everyone entering the country will be required to buy a travel insurance policy from the airport, costing 20 baht with a validation of 30 days. But where is the money going, and just what will you be covered for?
All money collected from the compulsory policies will be given to Thailand’s Tourism Promotion Fund. This fund will then be used to cover payments in the event of a claim. A ‘safety net’, so to speak.
Last year, 47 Chinese tourists lost their lived in a boat incident and the travel insurance is intended to build the confidence of tourists. Thailand is a popular activity spot, with some activities posing a risk to life.
The proposed travel insurance policy will provide 1 million baht in the event of accidental death, it is not yet known if the policy will cover other aspects of travel. According to the country’s Office of the Insurance Commission, this policy is likely to be rolled out later this year.
Although this travel insurance policy may be a compulsory purchase, it should not be considered as a replacement for a normal travel insurance policy. If you are thinking of travelling to Thailand please make sure that you have a travel insurance policy which will cover you for all aspects of your trip, including but not limited to; medical expenses, cancellation and curtailment and personal possessions. As travel insurance is not a one size fits all approach, we encourage travellers to read their policy wording to ensure the policy is suitable for their trip and needs. Our Policy Wording Explained campaign breaks down the jargon so you know exactly what the cover entails and whether or not you need it for your trip.