Vacations are among the best ways to break away from our stressful routines and hectic schedules. With vacations, we get to destress, enjoy time away from our normal environment, and have fun with our friends and families. Unfortunately, however, our vacations can become a burden if anything goes wrong.
For instance, we may miss our flights, misplace our baggage, etc. Naturally, such events can lead to a lot of stress. However, if you wish to stay protected from such situations, you must get a suitable domestic or overseas travel insurance plan.
What is a Travel Insurance Plan?
A travel insurance plan is a policy that is designed to help you get the coverage you need on your trip if things go wrong. With travel insurance plans, you will be financially covered for dealing with unprecedented events. They are one of the most optimal ways to protect yourself from certain situations. However, most individuals believe in certain myths and rumours about travel insurance and decide that it is not worth it. It would help if you debunked these myths before going on your vacation.
Myths About Travel Insurance You Should Know
Here are a few travel insurance myths you should know about:
- “Nothing will go wrong on the trip, so I don’t need a travel insurance policy”: While you may have taken extra precautions for certain events and situations, you may face unprecedented issues.
For instance, you may accidentally damage a third party on your trip, and you may have to reimburse them for the damages financially. Such events can disrupt your entire budget for the trip. Therefore, it is important to be protected for such instances. With a suitable travel insurance plan for your trip, you will be financially protected from such events.
- “My health insurance plan will provide me the coverage I need”: Most individuals do not opt for a travel insurance plan as they assume that their existing health insurance plan will provide them with the coverage needed during medical emergencies.
However, if you experience a medical emergency in a different country, your health insurance plan’s coverage may not protect you. Along with this, medical bills in most countries are quite expensive, and you may have to deal with them on your vacation. However, you will get reimbursement for the medical bills with a travel insurance policy.
- “My airline will cover me for cancelled or delayed flights”: Most travellers assume that their airline will provide them with reimbursements if they miss the flight due to any delays or flight cancellations. However, most airlines do not provide reimbursement unless it is crucial or unavoidable. Along with this, the intricacies of airline insurance make it almost impossible to get coverage. Therefore, if you face any emergency, you may have to deal with the losses without any help from the airline. However, you will get the proper reimbursement for such events when you have a travel insurance plan.
- “All travel insurance plans are the same”: While there are several travel insurance plans available, it is important that you carefully read through your travel insurance plan’s insurance document. Different travel insurance plans are designed to meet the different requirements of individuals. If you’re planning to buy travel insurance, you must compare travel insurance plans for yourself and select the one that matches your needs.
- “Buying travel insurance is quite difficult”: Most insurers in the country now offer online travel insurance plans. With online travel insurance plans, you can buy travel insurance from the comfort of your home by directly visiting your preferred insurer’s website. Insurers also offer tools like travel insurance premium calculators on their websites to help customers purchase suitable plans.
- “Filing a claim is quite difficult”: Most travellers are under the assumption that the entire rigmarole of filing a claim for travel insurance in India and getting the claim settlement is quite difficult. However, filing a claim is quite easy if you opt for a decent insurer. For instance, insurers like Tata AIG provide all sorts of information on their website to help you file a claim smoothly.
- “Insurers will find small inconsistencies to reject the claim”: As per the rules, the IRDAI governs the insurance sector, and all the accurate claims you file will be paid. If there are no inconsistencies in your claim and your claim gets rejected by your insurer, you can easily file an appeal with your insurer.
- “Travel insurance is only for adventure sports junkies”: While certain travel insurance policies are structured for individuals who are into adventure sports, these policies are not entirely made for them. In addition, you can run into several other issues other than adventure sports.
For instance, you can lose your passport; your baggage could be stolen/lost, you may face medical emergencies, accidentally damage a third party, etc. Naturally, these events can lead to tons of stress, and they can also impact you financially. However, purchasing a travel insurance plan for such events may assist you immensely.
- “Travel insurance policies don’t offer coverage for pre-existing conditions”: A few travel insurance plans provide coverage for pre-existing conditions. However, the coverage for the pre-existing conditions come with certain limits and conditions. For example, some policies will provide you coverage for pre-existing conditions if the medical issue is life-threatening. Therefore, you must read through the coverage offered by the plan carefully before purchasing the plan.
Travel insurance policies are designed to help you face different events that may ruin your trip. Unfortunately, however, several domestic and international travel insurance myths are being spread. For instance, many individuals think that travel insurance is only for adventure sports junkies or their medical insurance policy will help them deal with medical emergencies on their trips. Therefore, it is you must about the several myths revolving around travel insurance and make a suitable decision for yourself before going on your trip.