Lughnasa Waning Harvest Moon
Found this on the Economist website and thought it’s common sense made it worth sharing:
“maenad2 wrote:
September 3, 2009 14:13
There are three kinds of medical problems you may have while on holiday.
The first is a simple need for cheap stuff, such as antibiotics for an obvious infection. You pay for this yourself – either by buying an (expensive) policy which covers EVERYTHING, or by paying the costs directly.
The second is a mid-level problem, such as a broken wrist. Insurance to cover an accident like this is not expensive, but equally, you can risk not getting it: you don’t have to mortgage your home to pay medical costs if you have to.
The third is a serious problem, such as damaging your spine. In this case the insurance pays for itself, but these cases are very uncommon. Insurance companies very seldom have to pay out for major accidents.
There is no point in buying the first type of insurance, because it costs as much as it is likely to pay. The second type is your call – if you are willing to risk a $5000 medical bill because you know you are a careful tourist, it can be a good idea to not pay for this insurance.
Everyone should have the third type of insurance. Insurance with a $5000 deductable can be as little as $10 a month. It won’t cover you if you break your leg, but it will cover you if you break your spine.
Unfortunately, many shoestring travellers don’t understand this. They either give their hard-earned cash to insurers, or they go without altogether – like poor old George.” (George had a fall in India, became a quadriplegic. W/o insurance his tab for the hospital is $28,000 plus another $55,000 to get him back to Australia.)
