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Insurance Article

Travel Insurance Myths: Do You Believe These?

August 19 2016
Travel Insurance Myths

Debunk misleading travel insurance myths

Did you know that 2% of the total mishandled baggage by airlines in the USA is never found? International travel insurance can help you get financial cover against such losses when you are in unfamiliar territory.

However, some common myths related to travel insurance lead people to believe that it is unnecessary and expensive. Debunk these myths and understand the true significance of buying a travel insurance plan.

Myth #1 'I don't need it because I am not going to lose anything abroad'

As per the data published by Foreign Office in the year 2014, over 10,000 UK passports were reported lost or stolen overseas. Cases like this give rise to crimes of identity theft and even terrorism. What’s worse, anyone could become victim to such crimes.

No matter how careful you are, it is wrong to assume that nothing could ever go wrong. At times, it’s not our carelessness but some other unforeseen circumstances that lead us to trouble. A comprehensive travel insurance plan can provide emergency cash allowance in times of passport or baggage theft or loss and make your trip hassle-free.

Myth #2 'I have medical insurance, I don't need travel insurance'

It is often believed that multiple insurances are redundant. But that's not the case. If you are someone who already has a medical insurance, that's excellent! However, this insurance might not necessarily cover your illness expenses abroad.

A travel insurance plan compensates your hospitalisation and even hotel extension charges and relieves your stress. You can also avail worldwide cashless hospitalisation with some insurance providers. You can avail high quality medical treatment and need return home only once you completely recover. Some travel insurance plans also offer coverage for trip cancellations and delays.

Myth #3 'I won't be reimbursed unless something major happens'

Not true! Travel insurance is not meant only for extreme conditions mentioned above. Sometimes you might end up getting stuck in a minor yet financially stressful situation. A travel insurance plan covers your expenses for sticky situations like flight cancellations due to poor weather conditions or additional hotel charges due to early exit.

Even on a short, non-adventurous business trip, travel insurance cushions small uncertainties that may disrupt your plans. Whether or not you are a frequent traveller, a travel insurance policy makes your travel experience more pleasurable.

Myth #4 'But they don't understand my needs'

Depending upon factors like your age or travel destination, you can avail different types of travel insurance policies; various custom-made travel policies cater to different requirements of travellers. With a wide range of options being available, it becomes easier to choose.

Lastly, an emergency can occur anytime whether you are on a short trip or a world tour. In the year 2011, a news portal claimed that there is one emergency medical evacuation per 4000 trips carried out internationally. As unlikely as it may sound, anyone could end up being in this position.

With these travel insurance myths busted, avail ICICI Lombard's travel insurance policy before you leave for your next foreign trip.

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