Thursday, 19 April 2018

6 Travel Insurance Myths Busted

While planning a trip, domestic or overseas an essential step is to buy best overseas travel insurance plan to make sure that you are covered for any unforeseen expenses on your trip. Although some travelers understand the need and importance of travel insurance, a majority of the population believes it to be an unnecessary purchase. This is generally due to the various myths associated with travel insurance, which are often perpetuated due to incomplete and incorrect information we may receive from various sources such as inaccurate travel blogs, acquaintances or even you travel advisor.

Here we bring you 6 travel insurance myths that need to be busted so that you can buy best overseas travel insurance without any reservations.

1.    I don’t need Travel insurance as I already have health insurance
This is by far the most common myth regarding travel insurance. Many people believe that travel insurance is health insurance you purchase while traveling abroad. This is not entirely accurate, while you might have an extensive health insurance plan, it is not a given that it will cover any medical expenses you might incur when traveling. Also, it is essential to note that overseas travel insurance provides for more than just medical care. It can also come to the rescue if you lose your luggage, passport or you are not able to board your flight due to overbooking.
Hence, it is advised to buy best overseas travel insurance plan for you and your family before going on a trip, domestic or international, even though you might already be covered under a health insurance plan.

2.    All overseas travel insurance plans are same and it makes no difference, which plans you purchase
False. This is another myth that prevents travelers from understanding and investing in a sound travel insurance plan. Just like a life insurance plan or health insurance plan, travel insurance plan is not one size that fits all. It can be customized and selected based on your respective set of needs. It is also important to note that insurance providers have a different set of inclusions and exclusions. Certain policies consider and cover expenses that might arise due to a pre-existing medical condition while some plans specifically exclude such expenses. Such aspects differentiate each policy and make it pertinent for you to consider the terms and conditions for each policy in depth in order to buy best overseas travel insurance plan. 

3.    You must purchase the travel insurance from your travel agent
This is yet another myth that is not only entirely inaccurate but also makes people believe that travel insurance is yet another scam and they dodge purchasing any such cover. As with any insurance product, you can buy best overseas travel insurance plan either online or through your insurance agent. The key aspect to keep in mind is that your travel insurance must cover the essential factors such as loss of luggage, passport, delay or cancellation of flight, basic medical care in case of a calamity etc. If all your required scenarios are covered under the plan chosen by you, it does not matter where you purchase the policy. Many people buy travel insurance from their travel agent as they can guide the customer regarding the best policy for the specific country he/she plans to travel but with the arrival of so many online portals, it has become much easier to compare and buy best overseas insurance plan online.

4.    It is better to purchase travel insurance once you reach the destination country
There are many people who believe that you should purchase travel insurance once you reach the destination country as it ensures you get a better plan and save money. While the former can be true in certain cases, “certain” being the keyword, it is definitely much smarter choice to buy best overseas travel insurance plan before you depart for your trip. In fact, it is advised to purchase the travel insurance plan as close you make any payment towards your trip. This would ensure that even your flight bookings are covered by the insurance plan.

5.    Travel insurance is always costly and an expense you can avoid
Unlike popular belief travel insurance is not always expensive. You can opt for the more affordable plan, which covers your basic needs. While this is an expense you can avoid, it is strongly suggested that you do invest in an overseas travel insurance plan to safeguard you against any emergencies that might incur during the course of your travel. Travel insurance can become an expensive affair if you try to insure anything and everything under your plan. Make sure you check the most critical factors to keep in mind when you buy best overseas travel insurance plan.

6.    I can do anything once I purchase travel insurance
This is another myth, which is entirely false. Most of the policy providers stipulate certain terms and exclusions in a travel insurance plan. For instance, if the insured was under the influence of alcohol or drugs at the time of the incident, it can be a ground for rejection of the claim. Or, if the loss of luggage was found to be because of the negligence of the customer such as leaving the luggage unattended at the airport, the policy provider is not liable to reimburse any claims, subject to the terms of policy. Hence, even if you buy best overseas travel insurance, you are responsible for the actions and their consequences to a certain level.
So the next time you plan a vacation, think about the significance to buy best overseas travel insurance plan before you dream about the sand between your toes or the picturesque beauty you would be enjoying. Also, before going on a business trip, if you buy best overseas travel insurance plan, you can rest assured about any unfortunate incidents such as flight cancellation, loss of luggage etc. and you can focus better on your work. Make sure that you research and understand the travel insurance product before making the purchase and all your needs would be covered by the plan.

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