Thursday, 2 January 2014

10 Travel Insurance Mistakes Everyone Makes

Have you ever considered travel insurance as an unnecessary expense? If not, then good for you. As you may have now realised, insurance for your trip will protect you against unanticipated expenses like hospital bills in case you get sick. It can also get you compensated in case your trip doesn't push through. But knowing the importance of trip insurance doesn't mean you are spared from committing these 10 insurance mistakes that almost everyone makes.
Listening to recommendations of non-professionals
It is common for us to buy anything as long as it is recommended by our friends or loved ones. This also applies to travel insurance, which is usually bought on the basis of recommendations of non-professionals. But how are you certain that the policy suggested to you by a friend is the right insurance for your travel?
Non-completion of the application form
Did you know that most of the claims declined by travel insurers are due to the failure of policy holders to disclose their medical conditions? If you are not sure about your health problems, it would be better to seek your doctor's help.
Assuming that travel insurance is covered by your credit card
Many tourists think they don't need travel insurance because they are covered by their credit card insurance. The reality, however, is that credit card insurance coverage often does not cover the full protection tourists need when travelling.
Thinking insurance will pay for drinking-related accidents
If you figured in an accident because you were drunk, don't expect that your insurer will pick up the tab.
Not getting vaccinated
Before you head to an exotic destination, make sure you have been given the appropriate vaccinations. Your travel insurance provider may not compensate you if you failed to get the required vaccinations before leaving.
Late purchase
Many tourists procrastinate in buying trip insurance. It can backfire if events like weather disturbances, natural disasters or political riots happen before the insurance was purchased.
Not getting business coverage
Travellers who are fond of bringing equipment like laptops or smart phones should be warned that not all trip insurance coverage provide compensation to insurance holders who lose these types of equipment.
Confusing baggage cover as included in standard policy
Trip insurance policies don't cover baggage. As such, if you put your valuables in your baggage and these get lost, don't expect that your travel insurer will pay for it.
Engaging in high risk sports
High risk activities like scuba diving are excluded in some policies of trip insurers. Before you take part in any of these high risk sports, make sure you have bought the right policy.
Buying insurance solely on price
Aside from listening to recommendations of non-professionals, most travellers also buy cheap travel insurance. While there is nothing wrong with buying cheap insurance, the problem arises when the insured party meets an accident that is not covered by the policy he has bought.
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