Unfortunately, travel insurance is an additional expense but an important one. It helps you cover unforeseen situations like flight cancellations, lost possessions, and medical costs. However, it can be tricky to choose the best policy. Sometimes, the details are too complex that they can compromise your claims if the situation calls for it. For your guidance, here are five surprises travel insurance small prints that you should know.
1. No claims for undeclared medical history
If you have medical conditions, it is important to disclose such information to your insurance agent. But you have to expect an increase in the insurance coverage cost once they know about your health issues. It is one of the reasons why some travelers choose to hide their pre-existing conditions. However, failing to give your medical history to your insurer may result in getting your claims denied. If possible, disclose every detail about your health. Your policy will cover your medical expenses if something happens to your while traveling.
2. Coverage for lost possessions
Be diligent in checking the insurance small prints and make sure that your chosen policy covers lost or stolen possessions. It is especially helpful if you’re traveling with a large sum of money. Many travel insurance policies only have coverage for money that is accidentally lost, stolen, or has gone missing. There is also coverage for lost or missing cash that has been kept in your room’s safety box.
3. Look into policy limits
It’s heartbreaking to find out that your policy didn’t have coverage when you wanted to claim some cash for stolen or lost things. Your insurance becomes futile if you can’t take advantage of it. To avoid putting it to waste, read the travel insurance small prints, and check the policy limit. Know how much you can claim for cancellation, lost luggage, and missing cash. It’s important to play it safe. Otherwise, you might be surprised to see unexpected bills on your doorstep.
4. No coverage for overtime period
Another surprising thing about travel insurance small prints is that there is no coverage if you make a claim beyond the period. Even if it’s just one day, your insurance company will not pay any claims for any overtime. To prevent this from happening, check the number of days that your chosen policy will cover while traveling abroad before making the purchase. The policy limits vary from one company to another, so ensure that you get the information you need.
5. Not all insurance policy cover all destinations
Surprised? Don’t be. Some small prints may disclose that they don’t have coverage for some travel destinations. Before buying the insurance policy, make sure that it covers your destination. Countries like the US, Canada, Turkey, the Canary Islands, and the Caribbean may have different coverage that are not included in your preferred policy. Check that out first to avoid costly expenses after your travel.
There you have it. After weeks of planning your much-awaited travel, you have already booked the flight and bought the tickets. Exciting, isn’t it? Once you have made the booking, the next step is to purchase travel insurance coverage.
Now, you may go for the cheapest policy because you think that’s the easiest way out. But no. Opting for the most affordable travel insurance is not ideal. You should look into the small print carefully and ensure that your policy offers the protection you need.