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Travel is to explore foreign cultures, to meet new people, to get acquainted with unheard customs, and to understand their local history. Who wouldn’t love to do this?
Today, many travel to fulfil their inner nomad and yet many do so without proper insurance. Many have basic knowledge about insurance and end up believing travel insurance tips which are in fact myths. Read on to understand what myth is and what reality is when it comes to travel insurance.
Myth 1: Fit People Don’t need travel insurance
It’s a pre-conceived notion among numerous people that travel insurance is useful when it comes to situations related to health and if one is healthy and fit, travel insurance can be avoided.
Reality - While it’s a great thing to be fit and healthy, the purpose of a travel insurance is extensive. It helps to mitigate financial losses which can occur from a variety of situations. Theft of valuables, interrupted travel plans, legal matters, and more. Travel insurance isn’t just about ensuring a person’s health abroad.
Example - If you are in Spain and while wandering the streets of Madrid, you realize that your passport has been lost. Here’s when your travel insurance is a blessing. You contact your insurer and inform them about the incident, they will provide you with the cost of replacing the same, up to the limits available in your policy.
Myth 2: Airline will cover for any delays or cancellations
Delayed or cancelled flights are not something new. However, many are under the impression that airlines always reimburse delays or cancellations. This is one of the top reasons why people don’t buy travel insurance.
Reality – To believe airlines always reimburse ticket money is incorrect. Unless, it’s a grave incident, most airlines don’t pay back the flight ticket cost and most of them often attempt their best to not pay.
Example - If you happen to miss your connection flight to Sydney from Kuala Lumpur because the previous flight from Delhi was delayed due to bad weather, contact your insurer and they will pay you back the cost to cover the hotel costs until the next flight, subject to the limits as specified in the policy.
Myth 3: Claims are only accepted for huge incidents
This is a common thought which comes to people’s mind. They believe the bigger the incident, higher is the claim’s acceptance rate. This is a myth which has been around for ages.
Reality – Travel insurance plans are made to ensure your peace of mind in case of any calamity, big or small when you travel. Insurance plans cover most untoward incidents, emergency medical issues, delayed or cancelled travel schedules, legal hassles etc. If you file a genuine claim which falls in the things covered under the insurance plan, you don’t need to worry.
Example – If you are in Malaysia and are involved in an incident, where there is a personal liability claim made against you, then your insurance policy will help to pay the same.
Myth 4: Underestimating medical costs
When people plan trips, the thoughts of binge shopping, exotic locales, and yummy foods cover their minds but they often forget to factor in health care costs of the place they are off to.
Reality – Most think that they can afford medical costs because if they can shop around then they surely can afford a doctor’s visit. While some countries’ health care costs are indeed cheap, most countries in the west and are expensive when it comes to healthcare. In India, a doctor’s visit can cost you INR 350 while the same in U.S.A. will cost you over INR 20,000. Be it U.S.A. or Haiti, your insurance secures you irrespective of which country you are in.
Example – You suffer an injury in Los Angeles and are required to visit a hospital. You are worried because healthcare is expensive in U.S.A., you don’t need to worry. Your insurer will make sure you are admitted to a quality hospital, medical bills are taken care of, and good doctors attend you. That’s the benefits of travel insurance.
Myth 5: It’s only for adventure junkies, I am a safe traveller so I don’t need one.
It’s true that adventure sports lovers stand a higher chance of injury and hence insurance need statistically, this reason is often put across by those who think they travel safe and thus, won’t need insurance.
Reality – Emergency can come to anyone anytime. Be it a river rafting enthusiast who sprains his shoulder and requires medical assistance or someone who misses a flight and isn’t reimbursed by the airline. Travel insurance is a must for every traveller.
Example – You are a safe traveller and didn’t purchase any insurance. However, a natural disaster hits the country you are visiting and you are in need of emergency medical assistance, it’s expensive and you can’t afford it. If you had bought insurance, you would have been covered and even provided medical evacuation and a return ticket to your home too.
These are some myths which need to be debunked for anyone who thinks travel insurance is unnecessary. A smart travel insurance plan makes sure you have a hassle-free claims process and covers most untoward things which could occur. Plans from insurers like Royal Sundaram provide you all these services at excellent rates and have been in the industry for a long time. Always go for such insurers.