Several people consider travel insurance as an added financial strain while some prefer not to buy it because of certain myths. But the truth is, we can't assure you enough of the benefits a good travel insurance policy offers.
You’ve just booked a long trip, and you’re arguing whether you need to shell out that extra cash for travel insurance. The trip itself is costing you a bomb and at this point, signing up for another payment appears to be a nail in the coffin. After all, travel insurance is more of a waste of money, I mean it’s not like something will happen to you while on holiday, and even if it did, insurance companies make it almost impossible to claim and get paid, so why bother, right?
In this article, let's demystify 8 most prevalent myths about travel insurance and uncover the truth so that you begin to recognize why you should never leave home without it!
Myth # 1: My health insurance already covers me
Fact: Your general health insurance may not cover you on a foreign trip. Besides, you might also require non-medical travel insurance in the situations such as trip cancellation, delay or emergency evacuation, delay or loss of checked-in baggage, etc. Check with your insurer and read the policy thoroughly for the coverage details.
Myth # 2: I don't require travel insurance. Nothing will happen to me
Fact: As much as we would like to accept that you carry your 'nimbu-mirchi' along, unexpected events such as medical emergencies, lost passports, and flight cancellation are unpredictable and can occur at any time to anyone. In the case of a medical evacuation, it can cost the moon. Travel insurance can provide financial coverage, medical services, and a support network to serve travelers.
Myth # 3: Purchasing travel insurance is costly and a complicated, lengthy process
Fact: Most plans can be purchased online in minutes with no lengthy medical questionnaire. It is worth a few additional bucks when compared to the costs you may pay for medical care overseas. Many people don't realize that they'd likely pay for their own medical bills, emergency evacuations, and any trip interruption expenses without valid travel insurance.
Myth # 4: Travel insurance companies will find loopholes to deny my claims
Fact: IRDA entirely governs the insurance industry, and any rightful claim will be paid as per the order. If your legitimate claims are denied, you can file an appeal. However, a significant number of people have benefited from the travel insurance when stricken by unforeseen events.
Myth # 5: Travel insurance won't cover for pre-existing conditions
Fact: Not correct. A few policies may cover for pre-existing conditions, but within specified limits and coverage conditions. Some plans will cover you for any unexpected medical conditions that might arise due to pre-existing conditions without advance warning. Please verify with the insurance company
Myth # 6: Travel insurance is only for flight cancellation
Fact: Travel insurance usually covers far more than cancellation. It includes the complete trip from the start to end, covering interruption or delay due to sickness, injury, harsh weather, and more. Travel insurance covers medical costs for contingencies during the trip and also renders assistance services, such as finding legal help, guidance in replacing lost or stolen documents, locating emergency hotel accommodations, and more.
Myth # 7: Foreign countries will cover my medical expenses
Fact: Health insurance may be free in countries like Canada and Great Britain to its citizens, but this may not be the same for the international visitors. On the contrary, some medical facilities in some nations may not even administer any treatment unless you have medical insurance.
Myth # 8: Short trips do not need travel insurance
Fact: Mishaps can happen anytime, anyplace irrespective of the trip duration. Even a days' visit to Singapore from India, may cost you thousands of dollars for anything like a medical evacuation in case of a grave accident or sickness.
Myth # 9: Travel insurance is just for people who are into adventure sports
Fact: While there are custom-made travel insurance plans especially designed for the sky-divers, ice-climbers, and cave explorers, they’re not the only ones who need the protection. Indeed, it appears like they’re at a statistically bigger risk of getting in a crisis, but even relatively "boring" travelers can also land in such traumatic conditions. Imagine, missing your flight next day because your tour bus broke down midway between Paris and Barcelona, or you get mugged while on a culinary tour in Chile. In such grave situations, travel insurance is your only savior. So don’t get absorbed into the idea that just because you don’t have plans to dive into the Niagara Falls, you won’t require travel insurance.
At a comparatively lower price, travel insurance can not only give you a leg to stand on in a plenitude of sketchy conditions, but it can also offer a total peace of mind to anyone leaving on an experience abroad. So don’t be feeble-minded by thinking that avoiding to buy travel insurance will truly be a great decision. Shell out that slight extra dough and shield yourself from the myriad unforeseen conditions that plague travelers often. It’s always beneficial to spend money on travel insurance that you don’t claim than to blow thousands due to lack of proper arrangement!
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