Common misconceptions and myths about travel insurance
Travel insurance can be had for very reasonable prices. And yet, many travelers skip insurance, thinking that nothing will happen to them! Travel insurance is one of the key steps you can take to avoid a holiday nightmare. Travel insurance covers both emergencies and inconveniences. At one end of the spectrum, policies can reimburse you for lost baggage, and at the other end policies can keep you from paying millions in medical expenses.
Despite this, many people misunderstand how it all works. With that in mind, let’s clear up some of the most common myths in the industry.
- I can’t get travel insurance because I have pre-existing insurance
This is a common myth that many older people believe. It can actually stop some travelers from booking their vacation due to fear that they will be denied travel insurance. While it is true that some recent incidents can make travel insurance more difficult to obtain, there are travel insurance policies which cover pre-existing conditions. With this sort of travel insurance, you will want to speak with the agent personally in order to clarify your exact situation and whether you can be covered. If you have pre-existing conditions, do not despair – there will be a travel insurance plan for you.
Whatever you do, do not hide a pre-existing condition. This completely defeats the purpose of travel insurance. Not only is your entire coverage at risk, you do not get the peace of mind that comes from knowing you are fully covered.
- I don’t need travel insurance because I don’t plan on cancelling my trip
While trip cancellation insurance is one of the benefits of many travel insurance plans, travel insurance covers much more than just cancellation. Medical expenses, especially in countries like the United States of America, can be astronomic and purchasing a travel insurance plan with generous medical coverage will keep your mind at rest while you are on vacation.
- I am covered for all medical emergencies with travel insurance
This is an interesting point that more adventurous travelers need to keep in mind. While medical insurance covers a broad range of medical needs, most insurance policies do not allow for higher risk activities such as sky-diving, cliff jumping, or even skiing. Feeling adventurous? Read our guide to travel insurance for winter sports.
- My credit card has me covered
It is true that some premium credit cards offer travel insurance. However, the scope of the terms can vary widely. Some may have insufficient medical coverage, while other credit cards may lack cancellation insurance altogether.
- I don’t need to read the fine print
You do. While it might seem like a burden, you absolutely need to read the fine print of your policy if you want to be covered sufficiently. You need to know who to call, and the time frame you have to call them after an incident in order to be covered.