7 Travel Insurance mistakes that one must avoid

There are many mistakes people make while buying travel insurance policy. The variety of options available in the market can confuse the first time buyers and they end up choosing the wrong policy that does not offer the best benefits for their tour. For this reason, it is essential to be aware of the different plans so that you can choose the best option for your tour. Remember that you can get the coverage for any duration of your choice and you should always choose the optimum duration according to your individual travel plans. In this way, you can save money as you will be paying only for the number of days for which you need coverage. In the same manner, it makes sense to choose the family floater plan when you are traveling with your family for vacation. This is a better option when compared to buying individual plans for each one of them as it is relatively cheap and the coverage will be shared in between the family members. Apart from that, some people are not fully aware of the exclusions of the policy and they assume that everything will be covered once they choose travel insurance plan. However, every policy will have some or the other exclusions and you should carefully read them before buying the policy for your travel needs. In this regard, let us take a look into some mistakes that you should avoid while buying such insurance plans.

Choosing the wrong policy

Many people are not aware of the difference between various plans and they end up choosing the inappropriate policy for their tour. In this way, the policy will not deliver full value for the money and they may miss out on some important coverage in this manner. For this reason, you should always research properly and ensure that you choose the best one suited for your individual needs. There are special policies dedicated for students and frequent travelers. In the same manner, you can even get policies that last only for a few days and this is suitable for people who want to go out on a short vacation or business tour. In this manner, the travel insurance policy you choose should meet all your travel requirements in future.

Not getting enough coverage

It is important to calculate your combined expenses for the entire tour to get proper coverage from the travel insurance policy. Remember that you need to take into account your flight ticket cost along with accommodation charges and value of your baggage to arrive at the basic coverage needed for your tour. Along with that, you should add the medical expenses that may arise during emergency situation and calculate the amount of coverage needed for the tour. In this way, you should always have at least a few lakhs of coverage whenever you go out of your home town for vacation or business tour.

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Ignoring the exclusions of the policy

It is not just enough to understand the coverage offered by the policy. You should also carefully read the exclusions mentioned in the travel insurance policy document. This will give you clear idea about what coverage will not be offered by the plan and this risk should be borne by the policy holder. In this way, you can select the policy after understanding its inclusions and exclusions. You should be extra careful when you have any pre-existing illness as it may not be covered under the policy in most cases.

Providing inaccurate details about your trip

Be very careful while filling the application form for the travel insurance policy. You must always provide accurate details about your tour plan and ensure that the name and age of the policy holder is mentioned clearly without any mistakes. If there is any inaccurate information in the form, you may face difficulty while making claims for any damages during the tour. For this reason, you should always provide accurate details about your travel plan and ensure that you keep a copy of the application form for future reference.

Buying individual plans for your family members

If you are traveling with your family, there is no need to buy individual travel insurance policy for every member. This can cost you more money and you can easily go for the family floater plan to save money. The best part about choosing family coverage is that you can get a single policy for all the members in your family and this will cost you very less when compared to getting individual plans. Apart from that, it is also very easy to manage a single policy and you can share the coverage among your family members. This is a convenient option and you will be able to save money in this option.

Not comparing different plans in market

When you are not comparing different plans available in the market, you may not get complete value for your money. Remember that competition is huge in the industry and you can get good discount when you compare different plans from various service providers. You can use the services of online portals that provide the details about these plans and compare the features of the plans. In this manner, you will be able to make the right choice when it comes to selecting the best policy for your travel needs.

Buying the policy at the last moment

Remember that even though you can complete the process online and get travel insurance in quick time, you should never wait till the last moment to buy them from the market. Some companies will not allow you to buy these plans in the last minute as you need to provide prior information about your destination and other details about the tour. You should also mention the details about the flights to get the optimum coverage for your travel needs. In this manner, you should always buy them early so that you can get some discounts from the service providers. When you avoid all these mistakes, you can rest assured that you will have a comfortable vacation and your travel policy will deliver complete benefits during your tour.

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