Debunking Top 10 Travel Insurance Myths

Research revealed that while 92% of people plan to buy travel insurance for their future journeys, only 1 out of 4 people actually purchase one when going on a trip. The primary reason for this hesitation among the users is misconceptions and myths about travel insurance.

Your and your family’s safety on their journey shouldn’t be based on unverified notions but on facts and reasoning. So, join us as we debunk 10 prevalent travel insurance myths. 

Myth 1: Health Insurance Will Cover All Medical Expenses While Travelling

Not all health insurance cover you worldwide. This specific feature may or may not be present in your regular health insurance. Also, outside the home country, health insurance coverage may be limited to specific regions and covers only minor medical expenses. You may not get coverage like emergency medical transportation or medical assistance. However, international travel insurance provides complete medical protection, including coverage for emergency medical transportation, treatment, hospitalisation, and more.

Myth 2: If A Flight Is Cancelled, The Airline Will Offer Compensation

If your flight is cancelled, airlines are only obligated to offer compensation under certain circumstances. These compensations only cover the cost of tickets and may come in the form of vouchers instead of refunds. 

Travel insurance, on the other hand, covers flight delays and cancellations. It reimburses you for tickets and expenses incurred due to cancellation, such as meals, accommodation, and transportation.

Myth 3: Travel Insurance Claims are Tedious

The third biggest myth about travel insurance is that raising claims is cumbersome and reimbursements aren’t paid on time. However, this is completely false because you can file claims online using your smartphone, and the entire procedure is transparent. Furthermore, you can easily find insurers that offer cashless settlements and maintain healthy claim settlement ratios.

Myth 4: Travel Insurance Is Needed Only for Expensive Trips

The cost of a trip has no relation to the level of risk or chances of an unfortunate event taking place. Issues such as flight delays, trip cancellations, medical emergencies, and stolen/lost baggage can occur anywhere at any time. 

Moreover, these issues bring extra expenses that can quickly snowball, making your luxurious vacation even more expensive. Travel insurance gives you peace of mind that none of these hiccups and expenses will ruin your vacation. 

Myth 5: Travel Insurance Is Not Worth the Cost

The biggest travel insurance myth is that these policies are expensive. However, this isn’t true. Benefits of travel insurance include coverage for flight delays, trip cancellations, loss of baggage, lost passports, and medical emergencies. These plans also reimburse you for emergency expenses like transport, accommodation, and meals. This makes travel insurance worth every penny, especially when stuck in an emergency in a foreign land. Depending upon your needs, you may now find cover amounts up to $1,000,000 from different insurers. 

Myth 6: Travel Insurance Should Only Be Bought for Countries Where It Is Mandatory

Another common myth about travel insurance is that you only need it when travelling to countries that have made it mandatory for entry. Even if travel insurance isn’t mandatory in a country, having it can be a lifesaver in case your flight is delayed or cancelled, you lose your bags, or you need medical assistance.

Myth 7: I Don’t Need Travel Insurance for Short Trips

A short trip, even to a domestic location, doesn’t reduce the risk of an unforeseen event. Flight delays, medical emergencies, loss of property, etc., can ruin your short vacation in a matter of hours. In such cases, travel insurance reimburses you for the expenses incurred so your short trip doesn’t become a financial nightmare.

Myth 8: I Have to Buy Separate Travel Insurance Plans for Every Family Member

If you are travelling with your family, you don’t need to purchase separate travel insurance for each member. Almost every international travel insurance policy allows you to include multiple people under one plan, whether they are your family, friends, relatives, or coworkers. Therefore, another myth about travel insurance stands debunked.

Myth 9: Travel Insurance Is Only for Those Who Travel Frequently

Even if you travel occasionally, the benefits of travel insurance are still too good to miss out on. Imagine you’re finally at your dream holiday destination after years of waiting, but your baggage is delayed. With travel insurance, you will not only be compensated for the delay but also receive financial support to cover other expenses, like meals and transport, while you wait for your bags.

Myth 10: Travel Insurance Covers Adventure Trips 

Another common myth about travel insurance is that it covers mishaps, even on adventurous trips. Like any other insurance, travel insurance plans have limits on coverage and exclude protection for adventure journeys. 

For instance, most plans don’t cover sports like bungee jumping, rafting, skydiving, etc., because these are inherently high-risk activities. Even if a policy claims to provide coverage for such events, it is often limited to minor medical assistance. 

Key Takeaways

Whether you travel occasionally or frequently, alone or with family, travel insurance is essential for safeguarding your journey and your finances every leg of your trip. Don’t let misconceptions and myths about travel insurance prevent you from cherishing the protection against flight delays, trip cancellations, and medical emergencies.