Travel insurance is designed to protect you and your money should something go wrong on your trip. Yet despite the publicity surrounding travel insurance and its benefits, many people still choose to go on an overseas vacation without it. Here we expose the top five myths about travel insurance.
1. Travel insurance is too expensive. After spending thousands of dollars on flights and hotels many people decide there is no more room in their budget for insurance. However, the range of policies available today means there is an affordable one within your reach and it could save you thousands in medical bills.
2. I won’t need travel insurance. Of all the myths about insurance, this is surely the most dangerous. Many people don’t purchase travel insurance because they assume nothing will go wrong with their trip and they won’t need it. Or they don’t buy insurance because they are traveling to a resort where they are sure they won’t need extra assistance. The fact is, medical emergencies can happen anywhere and it can be a disaster if they happen abroad and you are not covered by travel health insurance.
3. Airlines, credit cards and domestic health plans will insure foreign travel. This is not likely to be completely true. Sure, credit cards may offer some protection but you will not be comprehensively covered. And medical expenses abroad are not normally covered under domestic health insurance plans.
4. If you need to cancel your vacation, you will get your prepaid deposits back. This is not necessarily true. Read the small print and you find you cannot get all your money back if you need to cancel your accommodation or flight. Only with trip cancellation insurance can you rely on complete cover.
5. Economical travel insurance doesn’t come with extras. Not true – even cheaper insurance plans give you access to a telephone hotline where you can find out information about getting medical treatment abroad, and how to claim on your insurance policy.