We all have been guilty of ignoring the importance of travel insurance as we all believe that we would not face any untoward incident in our journey. However emergencies do not inform before occurring, therefore you might face situations where the flight gets cancelled or delayed due to bad weather or any occurrence of violence at the place that you have booked your vacations, also there could be situations where you lose your baggage in transit or wallet gets stolen. These incidents can lead to your trip getting cancelled and you might have to bear financial and emotional costs for the cancellation.
You have long planned these holidays for a family get together and to meet friends or it could be travel undertaken for business meetings. You certainly would like to secure these plans. Travel Insurance provides you with the cover that secures you against all the above-discussed uncertainties. Even though travel insurance comes with a host of advantages there are few myths that have been associated with it.
1: I am Always Safe: There can be events which could lead to cancellation of trips or you might have to need to take an immediate medical treatment at a foreign location. You might think that these events have not occurred to you before but there is no guarantee that they might not happen in future. It is always better to be safe than sorry therefore taking travel insurance has become more of a necessity and not a choice.
2: My Domestic Insurance Plan covers me: You may be under the impression that your domestic insurance provides cover for expenses related to medical treatments abroad. This is not the case always unless you have an insurance policy which provides cover for overseas treatment. Therefore, to be on the safer side it is advisable that you get travel insurance so that you can enjoy your holidays stress-free.
3: Low Claims Settlement: It is a common misconception that it might be very difficult to get a travel insurance claim. To get a hassle-free claim, you would have to follow the laid down procedure and submit the needed proofs and documents to the travel insurer who would then verify and settle the case.
4: I will get Travel Insurance Later: If you want to get travel insurance later then it defeats the whole purpose of taking a travel insurance policy. In the event of your travel partner falling ill at the last moment and your trip getting cancelled, you stand to lose all the expenses related to flight or hotel booking. Buying travel insurance beforehand can save you from this financial loss.
5: Pre-Existing Illnesses not covered: We all are under the impression that we would not get medical coverage for pre-existing illnesses, however, there are few travel insurance plans which do cover pre-existing conditions.