Travellers who have bad experience on a particular trip and then make a claim with their travel insurance company, often feel like they’ve been tricked when the claim is refuted. To ensure you have a hassle-free and gleeful holiday, here are some pointers on what common mistakes to avoid related with travel insurance:
1. Absence of insurance simulation
This may occur from your insurance company’s negligence or somehow you skipped through reading the simulation of the travel insurance product when it’s presented to you. Sometimes you just put 100% trust on your agent and disregard the basic benefits of your product. Some buy insurance for the sake of buying or because the rest of your travelling group do so, and you decide to be a good team player.
Such oversight may result in the failure to understand the product and in most cases your expectations of the product are not met. By reading and re-reading the illustration and policy thoroughly before you make the purchase, you won’t ever be caught off-guard without knowing what your travel insurance can contribute to your overall travelling experience. A good knowledge on your insurance product should give you the financial benefit too.
For example, if your travel insurance already includes overseas medical services, you do not need to buy additional medical insurance and use that money for that pair of designer shoes you’ve always been clamouring for.
2. No time to compare products
Buying travel insurance at the last minute is quite common for on-the-go business travelers but it doesn’t have to be that way in all your travels. Always make time to compare prices and premium facilities of the same product out of multiple insurance companies. Don’t go for the product you don’t know much about just because time is not the luxury. Good insurance companies should draw out a shortlist of benefits and premium benefits for you to read through. Make a list of what you want so you could better decide which one to buy.
3. Not knowing the insurance timeframe
Ideally you choose a travel insurance that fits through your itinerary from departure until you return home. This comes under very strict terms with the insurance company as you will only be covered during the agreed period. You definitely don’t want to pay more premium for the days that are not needed.
4. Buying from the unsuitable insurance companies
You can buy travel insurance from agents, travel agents or online. All are considered to be offering the same benefits. It truly depends on what kind of interaction you want with the company. Imagine if you fall sick when you travel, would you want to connect to your insurance by exchanging emails or browsing through a “Contact Us” section on the website? Or would you prefer to be able to talk with the agent you’re buying the product from? If you are the latter, then buying travel insurance from an agent or your travel agent may be a better option.
During unwanted incidents, agents are mostly willing to assist in communication with your next of kin at home and make the whole claim process faster. It is then essential that you fill out every personal data correctly and re-check everything again just to be sure.
5. Too late to buy
We all get too comfortable with the English saying, “it is better to be late than never”. Some travellers make the mistake of waiting till the last minute to search for insurance products. In most cases, some do this at the airport on the day of departure or even buy when they arrive at the destination. Not only is finding an insurance product at your destination challenging, it definitely steals precious time from your holiday and also cost more too.
Also, think about the coverage you’ve lost if you experience any mishap during pre-departure. You do not want to buy a travel insurance at the airport when minutes later you find out that the flight is cancelled or delayed due to unexpected disaster. There goes your expenses, which will not be covered.