When you enter into an insurance contract with an insurance provider, the primary thing which you should put in habit is to read through fine print of the policy document. Being ignorant and falling into trap while making claims may lead serious effects and you might end up paying from your own pocket though you already paid the insurance company its premium.
Similar rules as discussed above apply while buying a travel insurance plan also though the insurance is for a limited term and the money you pay as premium is very low but while making claim you don’t actually know what is being covered and what not might put you into financial trap.
We are trying to list below few things which you should try to look into before buying a travel plan.
What Is Covered In Case Of Trip Cancellation? Let’s first understand for travel insurance for single trip what the term trip cancellation as travel policy. A situation where you were not able go forward with your planned trip because of your own sickness or sickness of somebody from your family, injury or death of a member of the family or your travel companion ,bankruptcy of travel supplier and so on. If due to all above mentioned reason you are forced to cancel your trip you insurance company will definitely settle your claim. In case reason is different your claims may be denied by the insurance provider.
In case if you want to make sure that your claims is settled due any reasons of trip cancellation and not just scenarios mentioned above should always apply “ Cancel for any reason” add on as a part of additional covered with your travel policy.
If You Have Pre-Existing Medical Condition. In case if there is a pre-existing health condition your insurance company might not take the risk of covering that. In a situation like this if you have a existing condition try looking for plans which offers waiver for it and while applying for that policy you should make sure that you follow the terms and conditions to comply for the same. Most insurance plans which offers waivers might ask you possibly comply with the following conditions:
Always Look For Policy Exclusions. Every insurance plan offered today have their own exclusions in terms of what is covered and what is not. The exclusions depend on the risk taking capacity of your travel insurance company. Every policy document has a section called “General Policy Exclusions” which category mentions this and you should study the same to stop yourself in falling into this trap. Like most of the plans available today might not cover you for loss caused by self-inflicted injury, bungee jumping, driving in a motor competition, loss resulting from intoxication, and so on.
Not getting claims due to improper documentation. You should always keep in mind that while making any claims for reimbursement or loss due trip cancellation or due any medical emergency due the period of travel into a foreign country, your claims would be only honored when you furnish the insurance company’s claims department with proper documents ,respective bills and any other thing worth mandatory for them to look into your case in details. During the period of travel you should this thing into your habit so that you can mitigate your chances of not being paid by the insurance company when you make a claim.
Enrolling for travel insurance lately. You might have built up a habit of buying travel policy may just a day before the date of travel but can be create lot of worries for you. When you buy lately certain risks associated can be confirmed to exist so in a case like this the insurance provider will deny your claims. Suppose you bought a travel plan for going a country where war is already predefined the insurance provider will definitely reject your claims .So it is always advised to buy the travel policy just on the date when you have made the final payment for the trip.
People generally forget to look into the points mentioned above before buying travel insurance plan and you fall into the trap. Policyholders generally give wrong reviews about their insurance providers mostly in scenarios when they have not gone through the fine print of the policy. So it always recommended to do thorough study of the various features which the plan has to offers, their specific coverage exclusions and do a online comparison among plans from different insurers before buying one .