Insuring Your Holiday – Common Myths About Travel Insurance

If you plan to go on a journey to a destination abroad, insuring your holiday with a low-cost package is an absolute must. The problem here, however, is that there are a lot of half-truths and flat out lies out there about the whole issue. Make sure you get your facts straight by busting these myths.

Myth 1: There is no coverage for injuries from sports or activities

There are quite a few travel insurance providers that provide coverage for risky activities and extreme sports. You do, however, need to make sure to state your intent to engage in risky activity before insuring your holiday. This is because your ordinary medical insurance won’t cover you from accidents or injuries related to risky activities. You’ll need to expand your coverage appropriately, otherwise you risk running into an accident and not having a claim accepted by your provider.

Myth 2: Credit card travel insurance is enough

Simply put, it most often isn’t. The payout from credit card coverage simply won’t compare to the amount you get from a dedicated travel insurance provider. You may get a little extra using the coverage extended by your credit card, but it alone just won’t be enough to cover all the expenses you could incur. Travel insurance, on the other hand, will not only pay out more but also covers more possible scenarios than the typical credit card travel insurance.

Myth 3: Travel insurance is exorbitantly expensive

Insuring your holiday with basic coverage can cost as little as less than two pounds a day – although the costs will increase as you get more coverage on your plans. A decent plan should cost about two to four pounds sterling a day. You may even save more from family and early-bird discounts, so ask the provider if they have any special promotions you can take advantage of.

Myth 4: Providers will always look for loopholes to avoid paying out

Not the legitimate ones. Successful companies that have thrived for long periods of time know that insuring is a numbers game, ultimately in their favour. They know that cheating the system will cause them to lose customers in the long run, so they pay out according not just by the letter of their contract but by the spirit of the contract as well. If any accident or incident is within the spirit of the contract, then you will be covered.

Myth 5: Travel insurance cannot be acquired while already on a trip

Insuring your holiday is still possible, even when you’re already at your destination – as long as you still qualify. The important thing here is to find a provider and communicate with the said provider about their post-departure coverage plans. Just make sure that you are doing so in good faith and are not planning to intentionally figure into an accident or something.
You will not be covered if it is determined that you intended to game the system.