Last Updated on February 14, 2020
When you book a trip, what you should definitely think about alongside other travel expenses such as flights and hotels is travel insurance. It might seem unnecessary and a waste of money, but it really is not.
How many times have you been on a delayed flight? Lost something in a foreign country or worse, got robbed, felt sick or got into a car accident? Travel insurance can cover all of this depending on your travel insurance plan. If your trip goes well with no altercations, that’s great. But wouldn’t you be more relaxed knowing that you’re prepared for the worst?
Even if you support and rely on travel insurance for your trips, you might be making some mistakes related to it. Keep reading to find out some of these mistakes and some tips on how to benefit from travel insurance.
1. Having no insurance
This one is for the people that have doubts about acquiring travel insurance. The truth is, the biggest mistake of all travel insurance mistakes is not getting one! If you’re still wondering what the benefits of travel insurance are, you obviously haven’t been paying attention to the outside world!
Even if you live in a country with free or accessible healthcare, it doesn’t mean that other countries have the same policy. This means, if you get sick, break an arm or get into an accident, two things can happen: you will either be treated immediately and then receive a 6 digit bill, or the hospital will deny treating you if they know that you won’t be able to pay. Awful right? But it’s the truth of the world we live in.
We never know what might happen to us tomorrow or the next minute, so it’s always best to be safe than sorry. When planning for your next trip, at least do research on some health insurance plans to benefit from.
2. Paying more than you have to
We all hate spending money on something only to find out that we could have gotten a better deal out of it, isn’t it? Well, let’s say that you spend the year traveling, maybe because you just can or maybe because it’s part of your job. Usually, jobs that require traveling will have insurance for their employees, but if you’re on your own, travel insurance is a great way to save money.
Think of it as a promotion. You might be investing more beforehand, but on the other side, you’ll be spending less money.
3. Not reading the conditions
We’re all somewhat used to accepting the policies just with a click without even reading them. Sometimes, companies actually make this important information look boring, making us not want to read it, usually these “terms and conditions” take the space of 5 pages full of paragraphs so small you can’t even read them without a magnifying glass! Therefore, when something goes wrong and you say “I never agreed to this” they will show you one of those paragraphs saying exactly the opposite.
Now, it’s true that some companies try to scam their clients, but most of them don’t. And you should make sure that your travel insurance covers everything you need it to. If you can, you can go to a travel agency and ask them all the questions you might have, such as “what does the travel insurance cover?”
4. Acquiring travel insurance too late
Let’s say that you’re living your best life, enjoying the sun, beaches, great food, and great company. You didn’t even think about purchasing travel insurance and why would you? It’s all going just great. But what’s that on the news? A hurricane is coming this way? Oh, no. I better get insurance right now before it’s too late! Sad news, it’s already too late.
Travel insurance companies aren’t dumb and neither are you. So don’t think you can activate your health coverage as soon as something goes wrong. Because if something does happen, such as natural disasters, a terrorist attack, or any type of accident, you won’t be able to benefit from travel insurance. So, the sooner you buy travel insurance, the more benefits you have. Therefore, be sure to take care of it before you actually leave your country.
5. Getting the wrong coverage
We all know how the travel insurance price can change, so we normally opt for the less expensive one, thinking that they cover the same way when they actually refund less. Normally, this is true, if you pay more you’ll get more if something goes wrong. But sometimes coverage isn’t the same.
You have 3 main coverages, the annual one that we already talked about, and which works better if you travel a lot, and then the medical and the comprehensive travel insurance coverage.
The medical one will cover any medical emergency, accidents, or possible attacks that you might experience, but it won’t cover lost luggage or flight delays.
The comprehensive plan is the most common one since it covers possible flight tickets cancellation but also offers some medical coverage. But, not as much as the medical one. For example, if there’s an evacuation in the event of an emergency, it won’t be covered by a comprehensive plan, just a medical one.
It honestly depends on where you’re going. Normally, you would be safe with the comprehensive plan but if you plan on visiting a place that is known to have frequent attacks or natural disasters, you might be better off with the medical one.
So, if you’re planning on a trip, make sure to do some research on travel insurance plans. It won’t hurt and it only takes 5 minutes to check, especially if you’re going somewhere that could potentially be dangerous, which nowadays is almost everywhere.
Even if you think travel insurances are expensive and not worth it at first glance, think about what you’ll be saving at the end of the day. After all, what’s wrong with investing a little more money if it means more safety and protection for you?