Top Misconceptions about Travel Insurance
Travel insurance is probably one of the most misunderstood forms of insurance policies. Why do you need a travel insurance when you already have a life insurance and medical insurance? The thing is that not many people know that a lot of medical insurance have geographical limitations and might not work in a foreign land. And then there are people who have questions such as – Why waste money on insurance for a trip that is hardly a week long?What can go wrong after all? These and many other myths surrounding travel insurance cause many people to overlook the significance of travel insurance, especially when travelling to a foreign land.
Here Are Some Common Misconception about Travel Insurance
Misconception: I have travelled without insurance so many times. Nothing happened!
Truth: This is one of the most common excuses given by people to avoid buying travel insurance. It is great that you have taken several domestic and international trips safely without having to deal with any unforeseen circumstances. However, just because things were all good so far, doesn’t necessarily guarantee that it will be the same in the future. What is the harm in being prepared? An accident, passport theft, missed flight, or an illnesscan have far-reaching impact for instance. And without insurance, you will be stuck in a foreign land and might have to incur substantial money loss.
Remember, there is always a first time and if (unfortunately) there is a first time travel mishap for you, you won’t like to be caught off guard in a foreign land. Buy a travel insurance policy and be prepared.
Misconception: I have a health insurance and a life insurance policy to cover me
Truth: Let us assume that your health insurance covers for your medical costs incurred during a trip. However, what will happen if you lose your baggage along with all the important documents? Or,what if a long-planned trip needs to be cancelled without any refund?What if one of your flight gets delayed and you lose your connecting flight.
Life insurance and travel insurance have their purpose and they are very different from a travel insurance. Travel insurance covers lot more than just medical expenses and a health or life insurance is no replacement for it. It covers for anything and everything that can go wrong in a trip.
Misconception: I do not want to fall into the trap of month-long claim settlement process
Truth: Most people have this misconception where they believe thatTravelInsurance Companies do not settle your claims unless something drastic happens. This is not true. The main aim of travel insurance is to make your travel smooth and easy. It is a way to ensure peace of mind since you know that you have a back-up to handle things if something goes wrong during the trip. Most travel insurance companies have a well-defined process for claim filing and settlement for events like baggage loss, trip delays, medical emergencies, etc.
If you have any doubts regarding this, you can read online reviews from travelers about the claim settlement process. You will get to read examples of how travel insurance companies came to the rescue of people trapped in medical or other mishaps in a foreign land.
Misconception: I am not going for adventure sports. Do I really need travel insurance?
Truth: Many travelers assume that travel insurance is only meant for adventurers to cover for any possible accidents during risky activities. This is not entirely true. Travel insurance is designed to cater to the needs of a wide variety of travelers. Accidents can happen with anyone and just because you are not taking part in an adventure activity does not meant that you do not need travel insurance.
While there are special insurance policies for adventure travelers, most common insurance policies cover you way more. For example,they cover you when you miss your flight, lose your luggage, or get robbed and so on.
Misconception: I can book any travel insurance policy. They are all the same.
Truth: This is clearly a misconception. There are many insurance companies and banks offering a wide range of travel insurance policies. These policies vary depending on your age group, kind of travel, the destination in question, the amount of coverage you want, and so on. Different policies have different features to serve a wider spectrum of travelers.
Therefore, it is important to check different travel policies available along with their features and coverage. This will help you choose the one that best covers your travel requirements.
Misconception: “Trip cancellation coverage” means I can cancel for any reason
Truth: When buying a travel insurance policy that has trip cancellation coverage, many people believe that they can simply cancel their travel whenever they want. While trip cancellation offers coverage for cancelled trips, it does so under a limited set of circumstances, such as medical emergencies, death in the immediate family, car accident, etc. In order to be able to claim for trip cancellation, you must be able to produce supporting documents (medical certificate, death certificate, etc) to prove that the specific event actually happened.
Therefore, before cancelling a trip, it is important to check with your travel company if your circumstances are covered or not.
While the importance of a travel insurance plan purchase cannot be denied, getting your facts right is equally crucial. Only then you can select the best insurance policy and have the right expectations from it.