You may be traveling for a holiday or it could be a work trip where you will be busy with office matters. Whichever way, you need to be prepared for the unexpected. One of the best ways to do that is by getting a travel insurance policy. This policy covers you in case anything unexpected happens while traveling. It could be the trip being canceled, reimbursement for hotels and flight expenses you’re looking for and other expenses or maybe medical expenses coverage of overseas accidents or illness.
Whichever the reason, a travel insurance policy would decrease the risks significantly. If you need to be protected while traveling, then travel insurance would come handy; it saves you from unexpected situations that can affect your investment in the trip and your health.
Travel insurance has now become the most cost-effective and most popular among many other insurance products. Whether you plan to travel alone, with your family, get an insurance company that will give you the most comprehensive policy.
Why you need a travel insurance policy
1. To cover you in case you get hospitalized overseas
Medical expenses when traveling abroad can be very high. Imagine you are driving in the streets of a new city abroad and you accidentally crash into another car and unfortunately, you break your leg and you incur other serious injuries. When you get to the hospital, your card doesn’t work because you’re a foreigner. In this case, you will need to pay up the bill which sometimes can go up to tens of thousands of dollars. To avoid such trauma, you need health travel insurance with a reliable insurance company which will ensure that you are covered in such unfortunate occurrences. You will also have some of the necessary transportation or evacuation expenses paid up for you and then you don’t have to spend as much. This study shows more information about travel trends for older people here.
2. When your luggage is lost
Imagine you are traveling abroad and the airline has mistakenly lost your bag which contains your clothes and all other belongings. This can be so disappointing but if you have a travel insurance cover, you have nothing to worry about. You only need to let your company know and within a few hours, you’ll be reimbursed for your essentials and continue enjoying your trip.
3. In the case of occurrence of a terrorist event
You are supposed to travel but just before the day, there is a terrorist attack and you can’t check-in at the airport. That means you have to cancel your trip to another day and lose your non-refundable deposits. With comprehensive travel insurance coverage, you can cancel the trip without losing your money.
Travel pitfalls you must avoid
With so much said about why you need travel insurance, it is important to notice some pitfalls that you must keep off to avoid frustrations.
1. Last-minute rush for travel insurance
Most people do all that they need to in preparation for their travel but without travel insurance, you’re are no better than someone who is driving a car without license- in case of an accident, they have no help in the difficult situation. You’ve paid a lot in terms of flights, hotels, and other services at the destination but you could lose much if you’re involved in an accident. As soon as you book your holiday, the next thing you should do is buy your travel insurance. If you fall sick and are hospitalized or your trip is canceled, you will be reimbursed. Ensure that your insurance is valid and confirm the expiry date so that it doesn’t expire while you’re away. In such circumstances, you’ll not get your money back.
2. Assuming that the insurance covers everything
If you are a lover of jet-skiing, for instance, most standard insurance policies won’t cover you. It is worth noting also that the insurance company will cover you for a leisure trip and not a working one. Therefore when buying an insurance policy confirm with your insurance company that the cover that you’re receiving is what you expect.
3. When you don’t declare pre-existing health conditions
Any insurance company would like to know if you have a pre-existing condition like diabetes, you must declare before getting the policy. If you have a running policy and you just get diagnosed with a condition, then you need to inform the company before you travel. That will help the company prepare for you in case you come down ill due to the condition and you require hospitalization. Do not fail to declare any condition; whether asthma, high cholesterol, anxiety, depression and such. This could mean that your policy will be a bit higher but you’d better pay more and avoid the frustrations that would come in case you need compensation.
4. Ignoring the rules
When you take an insurance cover, it doesn’t mean that you go about engaging in risky activities like riding a motorbike without a helmet or driving under the influence of alcohol. The insurance cover will only apply if you are responsible and follow the rules to the letter. The responsibility is on you to ensure that you do as per the requirements of the policy. Here the insurance company will come to your help when in need.
5. Giving the wrong details to the insurer
When giving out important information on your details like full name or date of birth, you must not miss a detail. Insurers appear very welcoming when you are buying the policy but when it comes to reimbursement, they’ll look for any falsified information to deny the responsibility to compensate you. Check through the details you give out over and over again to ensure that the information given is accurate. Ensure also that the insurance policy covers both the inbound and outbound trips.
6. Ignoring the small print
Who said that insurance companies are ‘cunning’? That may be a strong word to use over an insurance company but it’s the reality on the ground. When they’re selling the policy to you, they’ll look like angels but wait until you get into a problem and you need compensation- they’ll want to refer you to the small print. Before you sign the dotted lines of the insurance policy, you have to read through the document and master the boring legal jargon. Taking time to understand these details most of which are written in small font would save you big time. Here, you will notice what is left out and this could mean you go for a better policy.
How to get a reliable travel insurance cover
With so many insurance companies in the market today, it might be a hard task to identify one that will give you the best services. However, with the right information, it’ll be easy to get one. See below two factors that you need to consider.
The proverb that “experience is the best teacher” is as true in medicine as it is in the insurance industry. You need an insurance company that has been in the market for the longest time and one that has been serving clients of all types. A market entrant may not know some of the industry changes and this could cost you. Look for a company with a rich portfolio and one that has more than five years of experience.
When you are buying the policy, it is usually a “bed of roses”, the company agents will promise you great things but when you are in need, some disappear. Read the feedback section on the company’s website and see what others are saying about the company. This will tell you whether they are reliable or not.
When traveling to your destination, you must pay attention to the details that may ruin your good holiday moments. To avoid frustrations, get a cover from a reliable insurance company and you will have peace of mind.