Top 5 Mistakes to Avoid While Buying Travel Insurance
You have planned your dream trip in minute detail, but wait, have you carefully checked your travel insurance policy?
Many times, it is only during a crisis that hits abroad that travellers realise their mistake, with the rejection or denial of claims emanating from insurers. Let’s take a look at the top mistakes you can avoid while purchasing your travel insurance. Suitable travel insurance will help you in managing unexpected expenses, be it a business visit or a vacation, or if you are studying abroad.
What are the top mistakes you should avoid while buying travel insurance?
Buying Insurance at the Last Minute
The worst decision to avoid is buying travel insurance at the last minute before going on the trip. This error again points out another issue of not comparing the travel insurance plans according to the coverage and premium amount. You might not get a good insurance scheme.
Therefore, buy your travel insurance much in advance to get hassle-free claims settlement for trip cancellation, loss of baggage, and natural calamities.
Neglecting Coverage Information
While choosing a travel insurance plan, we often forget checking the details of the coverage. Read the coverage highlights of your travel insurance plan. Your travel insurance plan must cover trip interruption, cancellations due to natural disaster, illness, or unforeseen events.
Any travel insurance should offer financial security for medical evacuation and treatment expenses on your trip.
Very high or low premium insurance purchase
Typically, travel insurance bought at the last minute results in either a very high or low limit coverage plan without doing proper research. Assess your needs for travel insurance coverage before investing in a good plan in it.
For instance, if one is traveling to a place prone to natural calamities, either earthquakes, cyclones, or floods, then all these must be covered under one’s policy.
Health Information Concealment
You may think that concealing the pre-existing health condition could save you money on insurance premiums. However, while buying travel insurance online, if you hide any pre-existing medical issue, you may be taken to court by your insurer on legal charges. Even if your claim pertains to a pre-existing health problem during an emergency, the insurance provider can reject it.
Therefore, declare your pre-existing health history while applying for travel insurance to have continuous coverage of your trip.
Not Reading Terms and Conditions
The other mistake, which you should avoid, is not reading the terms and conditions of the policy carefully. Because of one mistake, you cannot clearly explain which incidents you can claim for and for which ones you cannot. Suppose, during your travel in India, you had an accident and your driver was under the influence of drugs or alcohol.
It is because the condition you claim is not covered in your travel insurance policy. At the time when you claim for your medical expenses through the Bharat Bhraman policy, such as doctor fees, prescribed medicine bills, or any vaccination to heal the injury, you face claim rejection.
What are the types of travel insurance plans that you can buy in India?
Family Travel Plans
Family travel insurance covers all family members under one sum insured, provides cover for pre-existing conditions, and offers cashless hospitalization.
Individual Travel Insurance
This plan is ideal for solo travelers, providing cover for trip cancellations, medical emergencies, baggage loss, and unexpected travel perils.
Student Travel Insurance
The insurance coverage covers students’ studies interruption, tuition fee, medical emergencies, and education-related expenses. Students who travel to other nations will have insurance covering travel delay, loss of passport, and personal accident.
Travel Insurance for Senior Citizens
Senior-citizen travel insurance covers the traveler for age-related health problems, interruptions to the trip, and medical emergencies. This plan will cover emergency medical evacuations, pre-existing conditions, and travel-related emergency assistance.
Corporate Travel Insurance Policy
Corporate travel insurance is designed for businesses and employees. This policy covers risks arising from work-related travel abroad and within India. You can cover trip cancellation, medical emergencies, flight delay, loss of documents, and baggage loss with this plan.
Benefits of Buying a Travel Insurance Policy
Travel insurance pays for expenses arising from medical treatment, hospitalization, dental treatment, and surgeries.
Travel insurance reimburses the nonrefundable cost in case of cancellation due to a natural disaster, sickness, or unforeseen reasons.
The travel insurance policy covers stolen, lost, or damaged checked-in baggage besides personal items, including cameras and laptops.
It covers additional costs if you miss your flight or experience travel delays, including meals, hotel stay, and transportation.
You will be entitled to 24/7 emergency assistance in case of lost documents, medical emergencies, or medical evacuation.
Final Statement
Though travel insurance comes with lots of benefits and protects you against unforeseen financial losses during your trip, this is only possible if you avoid some common mistakes. Compare and assess your coverage requirements to buy International Travel Insurance or Bharat Bhraman policy before your next trip. Now enjoy a hassle-free trip with the right cover.
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