Things to note while buying Travel Insurance
When packing your travel bags, you should not forget to buy a travel insurance plan along with other essentials, such as your tickets, your passport (in case you are travelling overseas), sufficient cash, necessary travel documents etc.
A travel insurance policy is capable of providing coverage for most of the things while traveling, such as, medical care, theft or loss of your baggage, thus making it an absolute necessity.
Below given are the points you should consider when buying travel accident insurance:
Make yourself Familiar
You should know about the different travel plans available online. Along with this, know which plan will best suit your health care needs.
Compare Policy and its Prices
Before you buy a travel accident insurance plan, it is important to compare different policies so that you are able to get hold of the best possible plan.
In addition to this, today, there are many websites that offer the facility of comparing policy along with its prices.
This, helps you to know which policy is offering what benefits and at what price. Thus, enabling you to get hold of a policy which is suitable, offers most benefits and is pocket friendly too.
Weigh the Pros and Cons
It is quite a possibility that while booking your trip through a travel agent or travel site, you are offered with a lucrative travel insurance package with great discounts.
But, it is not mandatory that whatever the package is offering is the right kind of health care coverage for you. Thus, it is best to go through the policy details carefully.
Read the Policy
When it comes to any sort of investment, it is important to have complete knowledge about where your money is going and how will you be benefitted from it.
Insurance is also a type of investment made for securing our future well being and thus it is essential to read through the policy offer documents in order to have complete knowledge about the vey plan being purchased.
Travel Days being covered
When planning to travel, in most cases, you are well aware of your trip’s duration. And, when you are to buy travel insurance, you should look for how many days the plan is offering you coverage.
Check out for excluded Destinations (in case of overseas travel)
When buying travel insurance, you need to look for the list of excluded destinations, if any. Policies differ from one company to another, and some companies may or may not provide coverage in certain destinations. Thus, it is best to look for any such excluded countries.
Disclose Pre-existing Conditions
When buying travel insurance, you should be completely honest and mention the pre-existing conditions, if any.
Doing so would later prove to be helpful in case you file for any medical claims. On the other hand, in case you have a pre-existing condition which you have not disclosed and there arises a need to make a claim, the insurer has the right to ask for your medical records.
In those records if it finds that you have not declared certain things, it can deny the claim.
Cover for Adventure Sports
If you are to take part in adventure sports, such as, scuba diving, sky diving, bungee jumping, river rafting, etc. while traveling, ensure that you pick a travel policy that offers coverage for the same.
Some policies may clearly exclude such activities, while others may offer coverage for them provided you pay some additional amount.
Coverage for such activities may vary from one policy to another, thus it is best to go through the policy carefully so as to be sure about the coverage options being offered.
In the event of certain claims, like loss of baggage, loss of wallet, missed flight, cancelled flight, etc. have a predefined amount.
Thus, when you buy a travel insurance plan, it is important that you check out payout limits for such items.
Furthermore, some insurance companies may not offer coverage for all items, thus it is best to check for what all items you are being offered coverage. Plus, if possible, you can avail separate insurance for those items.
Safety of your belongings
While traveling, it is expected that you are to take proper care of your belongings. Many policies only offer coverage theft or accidental loss of cash.
However, in contrast to this, in case it is found that you were neglecting your belongings or not taking proper care of it, the insurer may refuse to pay out.
Reporting a theft
In case any of your belongings get stolen while you are traveling, it is required that you report it to the police at the earliest.
Many travel insurance plans make it a mandatory requirement that you need to report the matter to the police within a period of 24 to 48 hours. Failing to file a report within the set time frame or not getting a copy of the police report can lead to non-payment.
If your policy covers you against a missed flight, your insurer will ask you for evidence that you had left your home well in time to catch the flight.
In addition to this, some insurers may also ask you to notify them within a specified time frame in order to make a claim. Make sure that you are aware of these time limits.
Alcohol and Drug Influence
Many insurers will not offer you any coverage in case you meet an accident while under the influence of alcohol or drugs. However, exclusions may differ from one policy to another, thus it is important to read the policy offer document carefully.
Coverage against Cancellations
Travel insurance can be bought on the very day you are travelling and also in advance when you are booking your tickets. It would cost you the same.
However, in case you have bought a travel policy prior to your travel dates, and if your trip gets cancelled, be it due to illness or any other reason, you will be covered in such circumstances.
The above given exhaustive list can prove to be quite helpful in selecting the most suitable travel accident insurance plan.
With travel insurance, an individual can forget all worries and just enjoy the travel. Furthermore, it induces a feeling of satisfaction that the travel insurance plan is there to take care in case anything goes wrong while traveling.
Curated from Travel Accident Insurance