Unfortunately, travel insurance is an additional expense, but an important one. It helps you cover unforeseen situations such as flight cancellations, lost belongings and medical expenses. However, it can be difficult to choose the best policy. Sometimes the details are so complex that they can jeopardize your claims if the situation calls for it. For your guidance, here are five surprises travel insurance fine print you should know.
1. No claims for undeclared medical history
If you have any medical conditions, it is important to provide such information to your insurance agent. But you should expect an increase in insurance costs once they learn about your health concerns. It is one of the reasons why some travelers choose to hide their pre-existing conditions. However, failure to provide your medical history to your insurer may result in your claims being denied. If possible, disclose every detail about your health. Your policy will cover your medical costs if something happens to you while travelling.
2. Loss Covert possessions
Be diligent in checking the insurance fine print and make sure your chosen policy covers lost or stolen property. It is especially useful if you are traveling with a large sum of money. Many travel insurance policies only cover money that is accidentally lost, stolen or missing. There is also cover for lost or missing cash kept in your room safe.
3. Look at policy limits
It is heartbreaking to discover that your policy had no coverage when you wanted to claim some money for stolen or lost things. Your insurance becomes meaningless if you cannot use it. Read the travel insurance fine print and check the policy limit to avoid wasting it. Know how much you can claim for cancellation, lost luggage and missing cash. It is important to play it safe. Otherwise, you may be surprised to see unexpected bills on your doorstep.
4. No overtime covere period of time
Another surprising aspect of travel insurance fine print is that there is no coverage if you make a claim after the period. Even if it’s just one day, your insurance company won’t reimburse overtime claims. To avoid this, check the number of days your chosen policy will cover while traveling abroad before making the purchase. Policy limits vary from company to company, so make sure you get the information you need.
5. Not all insurance covers all destinations
Surprised? Do not be. Some fine print may reveal that they do not have coverage for some travel destinations. Before you buy the insurance, make sure it covers your destination. Countries such as the US, Canada, Turkey, the Canary Islands and the Caribbean may have different coverages that are not included in your preferred policy. Check that out first to avoid expensive expenses after your trip.
To take off
There you have it. After weeks of planning your long-awaited trip, you’ve already booked the flight and bought the tickets. Exciting, isn’t it? After you have made the booking, the next step is to take out travel insurance.
Now you can go for the cheapest policy as you think it is the easiest way out. But no. Choosing the cheapest travel insurance is not ideal. You should look at the fine print and make sure that your policy provides the protection you need.