What Is Travel Insurance?
A travel insurance plan covers unforeseen expenses that you might incur during your travel trips as there is always a possibility of medical and non-medical contingencies, especially when you are visiting a foreign land. When you end up facing an unavoidable exigency in unfamiliar lands, it is international travel insurance that comes to your rescue, taking care of all your needs and saving you from financial burden.
While many people acknowledge the significance of buying travel insurance today, there are certain myths that sway travellers from doing so. Let’s try to bust these myths here: -
Myth 1: I Am Healthy, I Don’t Require Travel Insurance
Travel Insurance not only covers medical emergencies but also offers travel-related benefits. For instance, the cost borne by you in case of loss of passport/baggage, or delay in receiving the baggage is taken care of by your insurance provider. Furthermore, accidents are not associated with good health. They can occur to any healthy person at any given point of time, and thereafter, the cost of medical treatments can be quite expensive which can land you in a worrisome financial situation.
>> Check: Travel Insurance Premium Calculator
Myth 2: Travel Insurance Is Quite Expensive
On the contrary, the premiums of travel insurance plans are quite affordable and pocket-friendly, not to mention the myriad benefits these plans offer. Moreover, many insurance service providers offer multi-trip insurance policies as well. Multi-trip travel insurance provides coverage for multiple trips taken during a policy year. This type of policy is perfect for anyone who travels frequently due to work or simply has a love for travelling. Instead of purchasing a policy for every trip, it is more economical to purchase a single policy that covers multiple trips.
>> Check: Busting Myths Around Travel Insurance
Myth 3: I Have Life and Health Insurance Cover. I Have Absolutely No Need of Travel Insurance
First, the coverage provided by life insurance is not related to what travel insurance offers. Secondly, many health insurance plans do not cover medical expenses borne by you in a foreign land; only a few insurance plans offer overseas medical coverage, which has further limitations and might not include the country that you are planning to visit. Further, in case of flight cancellation/delay or loss of travel-related documents such as passport, your health insurance plan would not be able to provide any relief.
Hence, investing in travel insurance is a wise decision as there are travel-related benefits offered as part of a travel insurance plan that covers the cost borne by you in case of flight cancellation/delay, loss of baggage/passport, and more. Moreover, there are country-specific travel insurance plans offered by the insurers that provide added advantages, which are certainly not covered in your life or health insurance policies.
Myth 4: I Am A Meticulous Planner. I Don’t Need to Invest In Travel Insurance
Despite being a meticulous planner, there are some things that are certainly not in your control. For instance, accidents, illness, flight cancellation/delays, loss of passport/baggage are a few unavoidable and unforeseen situations that can occur anytime and result in unnecessary financial hassles. With the backing of a travel insurance plan, you can rest assured and enjoy your trip.
Myth 5: Getting Claims Settled Is a Tiresome Process
It depends on the insurer you choose. Insurance companies that focus on efficient claim settlement and have a strong claim settlement ratio make for a good choice. This applies even when you are travelling to a foreign destination. You simply need to contact your insurer who shall connect you to their service provider in your destination country. The service provider will, in turn, undertake the process of claim settlement.
These are some of the most popular travel insurance myths that many travellers tend to believe in. Hopefully, the above information will help you make a wise decision the next time you plan to travel.
Care Health Insurance (Formerly Religare Health Insurance) (CHIL) offers an extensive range of customised and affordable international travel insurance plans, perfectly suitable for diverse requirements. Acknowledged for their phenomenal services, CHIL has been recognised as the “ Claims Service Leader of the Year” at the prestigious Insurance India Summit & Awards.