Travel insurance is often overlooked by many travellers for their domestic and international travel plans. Travel insurance misconceptions usually prevent several people from purchasing a travel insurance plan or from fully understanding its benefits and features.
A travel insurance policy is an absolute necessity considering the potential risks that can affect a travel plan, ranging from a flight cancellation to a medical emergency.
Here are a few common travel insurance myths debunked to shed light on its most valued benefits.
Demystifying Common Travel Insurance Myths
Myth: Buying travel insurance is a waste of money
Fact: Even the best-planned travel can get affected due to a flight cancellation, baggage loss or medical emergency. A comprehensive travel insurance policy offers coverage against these unprecedented events to ensure you travel with peace of mind.
The features of travel insurance from a reputed provider are designed to provide policyholders with extensive coverage for the premium they pay.
Myth: Travel insurance plans have to be purchased separately for every trip
Fact: Travel insurance providers offer single and multi-trip travel insurance plans. With a multi-trip annual plan, you can cover multiple trips planned throughout the year.
If you are a frequent traveller, a multi-trip plan with trip cancellation insurance options will be beneficial. It allows you to reschedule your trip later in the year if you need to cancel it due to any of the covered reasons.
Myth: Travel insurance plans have to be purchased for every family member individually
Fact: This is one of the common travel insurance myths. The benefits of travel insurance can be extended to an entire trip with multiple family members under a single policy.
Myth: Travel insurance is required only for expensive international trips
Fact: The purpose and cost of your trip are not detrimental to the possibility and occurrence of an unexpected event. Also, one unprecedented event, such as a flight cancellation, can result in a sequence of events that can affect your entire trip and lead to excessive financial losses.
Therefore, irrespective of whether it is a budget-friendly trip or a luxury vacation, it is important to have adequate travel insurance coverage.
Myth: Health Insurance is sufficient for medical emergencies overseas
Fact: While a health insurance policy is a financial safety net, it may not cover or have limitations on medical emergencies and treatment costs abroad.
Conversely, travel insurance plans can cover medical expenses overseas, including hospitalisation, medical evacuation and even repatriation in extreme cases.
Myth: Travel insurance plans are expensive
Fact: The travel insurance cost is a minimal percentage of the cost of your entire trip and will cover most of the risks associated with your travel plan that can lead to excessive and unexpected expenses. Further, you can customise your travel policy to fit it within your budget.
Myth: Travel insurance claims are often denied
Fact: Travel insurance providers define clear guidelines for the claim settlement process. If you follow the guidelines, provide accurate information and necessary supporting documents and file the claim promptly, there is always a high chance of approval.
Choose an insurance provider having a high travel insurance coverage claim ratio for prompt responses and timely settlements.
Wrapping Up
Travel insurance is an essential component of any travel plan, offering essential financial security against a wide range of risks. These common myths debunked establish the fact that travel insurance is affordable, comprehensive and beneficial to all categories of travellers. Comprehend its value to ensure a safe, enjoyable and worry-free travel experience.
