Travelling abroad includes booking tickets, making accommodations, planning the itinerary, and so on. It also includes purchasing a travel insurance policy, but most of us are either scared of the expense involved or have been bombarded with myths that keep us from doing so.
Only those among us who have encountered loss of luggage or passport, theft, trip cancellation and other such issues, will understand the importance of international travel insurance.
Let us begin by knowing what this insurance policy is about.
Understanding Travel Insurance
Travel insurance policy can be described as a safety net that allows us to explore different landscapes and cultures in a stress-free way. It encompasses all possible risks that can occur during an overseas trip.
A traveller insurance policy provides financial coverage to you in case any of these situations occur while you are away from home, so that you are not left helpless and stranded in a foreign land.
6 Travel Insurance Myths and The Truth Behind Them
Here are some popular myths related to travel insurance, and the truth behind them, which will help you make the right decision before travelling overseas.
- There is No Need To Invest in Travel Insurance
The Truth is: This policy is not a waste of your money or time. On the contrary, it helps you save money if you face situations like illness, flight delay or accidents.
Imagine being stuck in a country because your connecting flight got delayed. Having this insurance by your side will ensure that you get all the necessary assistance while waiting for your connecting flight.
- It is Expensive to Buy Overseas Travel Insurance
The Truth is: This is one of the most popular travel insurance myths. The truth is that you have to pay an insignificant amount for the policy in comparison to the overwhelming financial loss you have to bear in case of an unexpected situation you encounter during your overseas trip.
The cost of an overseas trip insurance policy varies based on factors like traveller’s age, trip duration, destination and coverage limits. However, with reliable insurers like Tata AIG, policy premiums are reasonably priced and barely make a fraction of the entire trip expense. And beyond any doubt, the benefits that this insurance policy offers are far more than the policy cost itself.
- I Have Health Insurance to Cover Me
The Truth is: Health insurance policies come with limitations and may have gaps in coverage where it does not cover medical evacuation, treatment in case of medical emergency and repatriation if an accident leads to fatality.
An international travel medical insurance policy acts as a bridge between these gaps and provides comprehensive coverage for travel-related medical situations that surpass a health insurance policy’s overall scope.
- When it Comes to Travel Insurance, Separate Policies Must be Purchased for Each Family Member
The Truth is: If you are travelling with family, it is crucial to make sure that all of you are safe when travelling abroad. However, you must understand the requirements of your family while choosing a coverage plan for travel. Based on your preferences and budget, you can opt for a policy that works best.
Insurers offer different prices for different cover types, depending on how many family members you want to be insured and when you would like to purchase the policy. Proper research and comparison can help you narrow down the policy that best suits your needs.
- It is Possible to Buy Travel Insurance Online Anytime
The Truth is: To get the most out of your travel insurance policy, you must purchase it during the early stages of your trip’s planning process. Many insurers provide policies with time-sensitive benefits like trip cancellation coverage due to health or personal issues.
Typically, you must buy overseas travel insurance either shortly after booking or right before booking the trip. Waiting to purchase the policy until after the trip begins may lead to no coverage or limited coverage for when such incidents occur.
- Trip Insurance Claim Process is Laborious
The Truth is: This does not stand true in today’s technologically advanced world. There is no hassle of complicated paperwork for filing a claim. All you have to do is visit your insurer’s official website and follow the procedures as required.
Conclusion
While vacations offer you relief and relaxation from the monotony of life, keeping yourself and your family members protected from unforeseen events is crucial to making your trip a success. Different challenges can pause or completely stop your journey.
To avoid such situations you need to stay away from myths and know the truth about insurance policies so that you can get maximum benefit from them.
