Things You Might Miss About Your Travel Insurance Plans

The cost that you pay towards a travel insurance premium might seem very negligible compared to the whole price that you pay towards other things like commuting, lodging and fooding but the importance it has is very critical. Though people in most cases ignore the importance of the same but when faced with a critical emergency in  a foreign land then the real value of having a travel insurance is well understood. People generally miss out the importance because they don’t understand its real capability, a travel insurance plan technically covers fifteen types of financial risks, with each risk having its own terms and conditions.

Read also: What You Should Consider For Choosing Online Travel Insurance Policy?

When you try doing an online search for travel insurance you will generally find a whole array of benefits based upon which plans from various insurers can be compared.The benefits may vary significantly from one insurer to another. Because of this diversity of benefits offered under different plans we always miss out some key things. Some of the key things which policyholders miss and should always keep in mind are :

 

  1. The primary coverage given by travel insurance plans for individual are more related to hospitalization and generally insurance companies avoid giving cover for pre-existing ailments.Even if your insurer has a provision to cover pre-existing diseases make sure to make complete disclosure of every member’s current health status who are covered under the travel plan when you are buying a travel insurance policy..
  2. We all know that travel insurance mainly focus on the covering hospitalization expenses done during the period of travel but there are always certain limits on the the amount of cost that would be covered by the insurer.The limits vary as per the insurer. While medical sum insured under a travel plan may vary between USD 25000 to USD 500000 but the hospitalization benefits may be limited to just 25% of the total medical sum assured..
  3. Though this seems to be the most the common feature across all travel insurance plans offered by any insurer,i.e. Baggage cover which means the insurer would pay any for financial loss happening due loss of baggage or delay of baggage. The baggage covers also come with certain set of limits. The common of them which the policyholder should remember is that , only checked-in baggage is considered under any policy. The cover is not applicable for cabin baggages. Another important thing is that baggage if lost is covered only when the same happens during the flight to the foreign land and not applicable if the same happens while returning to India.
  4. Do keep in mind that , if your travel itinerary includes adventures sports then the same is not covered under a regular travel insurance plan. You always need to look at an additional cover for the same which is available with most of the insurers.
  5. Another important thing that a policyholder should remember is that if you travel plan includes a road trip ,one should remember that any third party liability arising out of it is not covered any travel insurance plans and it is always advised to take from the country you are travelling.

The above points mentioned should be always considered while doing a compare online travel insurance plans from various insurer otherwise you might always miss out to take the real benefits attached with your travel insurance policy.