If you are planning to Travel, Travel Insurance is one of the most important things that you should not ignore. Travel Insurance can help and assist to minimize the financial risks of traveling, such as accidents, illness, missed flights, lost baggage, theft, terrorism, travel-company bankruptcies, emergency evacuation, and getting your body home if you die.
Here are the Top 5 Myths About Travel Insurance that you should know :
1.Having trip protection with a credit card is sufficient!
Travel Credit Card insurance coverage is never enough. Most of these credit card provide Travel Insurance only as an additional benefits for card users, and mostly it just covering the basics and usually are not sufficient enough if there is anything happen. Any most case, card users will need to top up extended benefit in order to get better benefits.
2.I enrolled for a Travel Insurance and Everything Is Covered!
Congratulations for your smart move on getting yourself a Travel Insurance. But remember there is always fine print that policy holders normally (99%) of them does not read about it. These are the few things that may not be COVERED by your insurance :
Pre-Existing Health Conditions :
In most cases, Travel Insurance always highlight that they will not be responsible for any “Pre-Existing” Health Conditions, even if you have recovered fully. For Example : If you diagnose with Asthma way before you travel, the travel insurance will exclude the coverage for Lung Related Disease during your entire trip, which normally named by “Exclusion”.
Other List Of Exclusion :
Not everything is covered! Even you are covered by Travel Insurance. There always have a full list of Exclusion, be sure you have read thru the exclusion list prior to purchase any Travel Insurance.
3.Is a waste of money and I only can claim it if something catastrophic happens.
Well that is not quite true. If you are having the right insurance, they can be really helpful in other situation too. For example, If you have lost your luggage, travel documents or even money being stolen, you will be entitle to claim your losses too. Getting an insurance is important, but getting the right insurance policy is ultimate.
4.I will buy the Travel Insurance later right before my Flight Day.
Try imagine if you have to cancel your flight due to an unexpected event, which is a covered event considerable by Travel Insurance, such as :
- you, your fellow traveller or a close relative is unexpectedly hospitalised or dies as a result of an acute serious illness or acute serious injury;
- you are declared medically unfit to travel
You will be saying Bye Bye to your Full Paid Trip without any refund. So get Travel Insurance on The day you start to book your Accommodations & Flights.
5.It Will Never Happen To Me. Is will just be a two days trip.. It will Be Fine…
Never take it for granted. Things happen when we are at the lease of expectation. If you are having a trip which cost you $500, and you are paying as low as $15 to secure your entire trip, isn’t it worth it? If you have travel insurance, you can spend your time and energy worrying about your crisis-ridden friend rather than haggling with individual vendors about refunding your ticket and booking costs.