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Travel insurance is crucial for any trip, even if you are just going away for a few days. It protects you from cancellations and unexpected events, and it will help you cover your costs if you are injured while away. If you don’t have the right insurance and something goes wrong, you could end up with a big bill to pay and a ruined trip.
Travel Insurance Mistakes
Unfortunately, people often neglect their travel insurance until the last minute and then purchase a policy in a rush. When you don’t take the time to weigh up your options and select the right policy, you’re far more likely to make common mistakes with your insurance. Sometimes, your policy may not pay out when you need it to or you could end up wasting money on coverage you don’t need.
If you are planning a trip soon, avoid these simple but common errors when buying a travel insurance policy.
Relying On Free Travel Insurance Policies
Many banks or credit card companies offer free travel insurance as standard but don’t make the mistake of thinking that this covers everything. Free policies usually only cover you for a few days and they might not include all the activities you want to do on your trip.
Even if your free policy does cover you for the entire trip, there is no guarantee that it will be enough if something goes wrong. Read the small print and understand what is and isn’t covered before assuming that your policy is good enough. The last thing you want is to make a claim, only to find out that you’re not covered for the situation and it’s up to you to pay.
Doubling Up On Insurance Cover
Although you can’t rely on free insurance policies to cover everything, you should always check what you are covered for. People often make the mistake of doubling up on insurance cover because they pay for things that are already covered by their free policy. This is a big mistake, as you are merely paying twice for the same thing.
If your credit card or travel agent offers free cover, then use it to reduce costs, but don’t double up on it. Check to see what it covers and then take out a separate policy to make up the shortfall. For example, your free policy might cover illness, but it may not cover injuries sustained during sports or adventure activities. Here, you don’t need to pay extra for medical cover.
Paying For Lots Of Single Trip Policies
Many people purchase a single trip policy when they are only going away for a short period. This is another mistake, as you could pay more than you need to. It’s often cheaper to take out an annual policy that covers all your trips in one go.
If you are only planning on traveling once or twice throughout the year, single trip policies may work out cheaper. But if you travel a lot, you’ll usually save a lot of money if you buy an annual policy instead. Before you commit to anything, check both options and weigh up the cost of insurance to make sure that you are getting the best deal.
Not Understanding What Is Covered
It’s easy to accidentally skip the fine print when you buy a travel insurance policy, but this is another common error. Many people don’t read what they are signing up for and only find out when something goes wrong, and it’s too late.
Before you buy anything, make sure that you fully understand what your policy covers. If something isn’t mentioned in the small print, double-check with your insurer before making your final purchase. Also, remember some policies come with more limited cover if certain activities are involved, such as sports or adventure trips. You need to check whether you have cancellation cover too, so you can get your money back if something happens and you cannot go on the trip.
Understanding your policy in full is crucial if you need to make a claim. Sometimes, the insurance company may refuse to pay out and you will need to contact insurance claim attorneys to help you make a case. But you won’t have a leg to stand on if the mistake is yours and you’re not actually covered in whatever situation you find yourself in. So, before taking out a policy, read it in full and ask for clarification on anything that you don’t understand.
Not Getting COVID-19 Cancellation Cover
Your policy may well include COVID-19 cover, but it’s rare to find a free policy that does. If you don’t have this in your policy, make sure that you sit down and read the small print before making a purchase.
At the moment, the situation is constantly changing and you never know what could happen. It’s definitely worth paying extra for a policy that covers COVID-19 cancellations because airlines and hotels will usually only refund you if the law forbids you to travel. Having an insurance policy that covers you means you can make your own decisions about whether to travel and you can get a refund quickly if you decide to cancel the trip.
Lying About Existing Medical Conditions
Some people may be tempted to lie about their medical history when taking out a policy, but this is a huge mistake. If you have a pre-existing condition and it is not declared, your policy could be invalidated and you cannot make a claim. Not only that, but you could also find yourself in legal trouble if the insurer finds out.
It’s important to be honest when taking out a travel insurance policy, as lying can have severe consequences. If you’re not sure whether you need to declare something, contact your insurer and ask for clarification. It’s always better to be safe than sorry. You can get specific policies for preexisting conditions to ensure that you have the necessary coverage.
Your travel insurance policy is there to protect you against the unexpected, but if you make these mistakes, you will find yourself in a difficult situation. However, as long as you take the time to read your policy carefully, you can avoid any disasters.