Travel Insurance Myths
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Top Ten Travel Insurance Myths

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Millions of people buy travel insurance worldwide, but a million more travel without travel insurance each year. This is because they are ignorant of the advantages of travel insurance. Or they have some preconceived notions about travel insurance. That is what we are doing with this article;

To answer your questions and debunk those popular insurance myths and give you more confidence about purchasing travel insurance for your next trip. 

 

  • Why Do I Need Travel Insurance? I Am Healthy.

 

We cannot see the future and do not know what might happen at the very next moment. Just because you are healthy today does not mean you might not get sick in the country you are visiting tomorrow. You can even get into an injury that might need urgent medical care. And if you do not have travel insurance, you will have to pay from your own pocket. Depending on where you travelled to, it can be quite expensive. 

 

  • Travel Insurance Is Too Expensive; I Cannot Afford It.

 

Wrong. Travel insurance is quite affordable (depending on the policy you choose). For a few dollars, your policy can entitle you to thousands of dollars in medical expenses or other emergencies. Travel insurance should usually cost 5 – 8% of your trip. If it is too expensive, consider buying from another agency. 

 

  • Travel Insurance Doesn’t Cover My Pre-existing Conditions.

 

The truth is, a good deal of travel insurance agencies have coverage for pre-existing medical conditions. If you buy the policy within a defined time frame after making your first trip payment. Sometimes, some insurance agencies will still cover you even after you exceed the window period. 

 

  • What Do I Need Travel Insurance For, When I Already Have Health Insurance?

 

Some health insurance agencies offer worldwide health coverage, while some only offer in your home country. In the case, you have health insurance that provides worldwide coverage, and you think you might not need travel insurance, think again. Travel insurance does more than cover your health. For example, in the event, your flight is delayed because of circumstances the airline has no control over.  Your health insurance does not entitle you to any compensation like food or a hotel to lodge in from the airline. This is where your travel insurance comes in. They handle such expenses. 

 

  • I Am Too Old For Travel Insurance

 

No one is too old for travel insurance. Factually, it benefits older people more because travel insurance takes the burden off their shoulders in case of emergencies like an evacuation, surgery, trip cancellation, etc. Some insurance companies even have travel insurance policies tailored to seniors from a certain age.

 

  • I Am A Very Cautious Person; I Don’t Need Travel Insurance.

 

You might be a careful person, but what happens when your luggage gets missing at the airport, or you get robbed in the country you’re visiting? We don’t prepare for these types of situations but, if your state-of-the-art computer or jewellery gets stolen or lost on the trip, as long as your insurance policy covers them you’re entitled to compensations at no extra cost to you. But if you don’t have a travel insurance policy, you’ll need a lot more money to get through such situations. 

 

  • Travel Insurance Companies Reject Claims Anyway, Why Should I Bother?

 

Here is one of the most common travel insurance myths that deter people from buying it. You might find this ridiculous, but insurance companies want to pay you! Travel insurance agencies grant about 95% of travel insurance claims. 

Most times, they reject insurance claims for so many reasons. It might be the customer didn’t disclose pre-existing conditions, or that insurance policy doesn’t cover that claim, or your destination country the customer travelled to is flagged as high risk because of political unrest or natural disasters by the WHO. 

Did you know that even if they turn your claim down, you can always ask why and re-file a claim?

Some credit cards offer travel insurance benefits to their customers, but what they don’t know is they limit the coverage they provide. They only cover two at most trip cancellation and baggage loss. So, what if a traveller requires urgent medical care? That’s why full coverage travel insurance is always the better option.

 

  • Travel Insurance Is Only Useful If You Lose Your Stuff Or You Need Medical Care.

 

Many people don’t understand what having travel insurance can do for you. It’s more than just for payment for baggage loss or health care. They help to shoulder some or all of the cost that comes with travelling like, costs incurred from losing documents or your passport, emergency evacuation, and a lot more. Make sure you read the blueprint of your travel insurance policy before you buy, so you’re informed about what their coverage entails. 

 

  • Travel Insurance Can Get Expensive Because You Have To Buy One Every Time You Travel. 

 

If you’re a frequent traveller, you do not have to buy an insurance policy anytime you want to take a trip. Insurance companies offer what we know as an annual multi-trip insurance plan. They tailor to suit the needs of frequent travellers.  

 

  • I Can Buy Any Travel Insurance, After All, They Are The Same.

 

 No two insurance policies are the same. There are different insurance coverages tailored to the various needs of customers. Some insurance policies cover customers with pre-existing conditions, while some don’t. Some come with cover for risky activities like bungee jumping or sky, and for some others, these kinds of activities require some additional “add-on” coverage. 

There is insurance coverage that caters to some age groups and some specific individuals like students, older travellers, etc. Be sure to inquire from your insurer and get a quote for the insurance policy that suits your needs best.

Conclusion

We hope we managed to explain why most of these myths are nothing but… myths. A travel insurance policy is necessary; it is the safety net you can rely on when the unexpected happens. 

Most people usually put off buying their insurance policies until later. That is a horrible idea. The reason is: if you purchase insurance coverage right after you have booked your travel ticket and for some reason, there’s a trip cancellation before the trip happens, your travel insurance can help cover your losses. 

You can also read our article on Annual Travel Insurance.

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