People generally ignore buying a travel insurance plan because of certain myths about them. Though the cost might be quite low compared with total expense that would be actually incurred during the overall travel process but because of the ignorance you might end up paying a huge for it. Some of the common myths are:
1) Nothing can happen to you, you might have 100 trips during your life and never faced with a problem but you can’t never ignore the fact the probability of happening something on 101th trip can be always high. An unforeseen event can at any point of time can ruin your travel plan and can lead you to fall in a situation which you have never handled. In case the emergency happens in a foreign land when you don’t have anybody known things can bring a lot of imbalance. A simple thing like theft of your passport can lead to lot of hassles. Getting it reissued through local embassy office can lead to huge expenditure which you never planned.
2) You are already covered in homeland so you don’t need an additional policy, this is just a common fallacy. Even if you a medical insurance in India the same is generally not valid in a foreign land unless otherwise stated in the contract. In certain geographies travel insurance is mandate which needs to be presented before the authorities before you enter those countries. Issues like flight delays, loss of baggage is a common phenomenon and at times the same can lead to unforeseen expenditure but if you have planned for your travel insurance well in advance the same can be claimed from the insurer.
3) Medical costs are cheaper in foreign countries, this is generally a false belief, it really cheaper for the local citizen out there but when you evaluate the same with respect to Indian rupee then it is very costly. You should you always keep in mind that your Indian medical policy holds invalid in a foreign land unless otherwise stated so in case of an medical emergency which might even admitting to hospital and long medication, your travel insurance plan can come to your relief.
4) Travel insurance is only necessary people who participate in adventure sports, surely if somebody’s itinerary includes participating in adventure sports that he/she is prone to higher amount of risk but that doesn't defy the point that you will never face an emergency. Even if somebody has plans to participate in an adventure sport activity during his/her travel he/she need to pre-inform the insurer about it and might have to take an additional add-cover specific to the event.
The above are common myths which people think are right and give of this ignore they generally abstain from buying a travel plan but that is not case. Emergencies you can’t predict so it is better to plan in advance so that you don’t end losing money which you never planned.