Common Travel Insurance Mistakes
Getting travel insurance is one of those necessities which is a bit like packing a sweater on a trip to England - you would be silly not to. Like anything that is a necessity, it becomes competitive in terms of the monetary market.
Many travel insurance companies raise the price of their insurance packages because they know that customers must still purchase it. The competition therefore is between travel insurance companies, who find ways to make sure travellers think that their product is the best.
Travel insurance suppliers do this by offering up freebies, special offers and bonuses to reel in customers. This often tricks the customer into thinking that their travel insurance is the best and that it will offer up all the protection they need without any consequences.
This is not the case. Indeed, attractive freebies and discounts are often how common travel insurance mistakes occur. Customers must make sure that they do not fall into this trap. Ways to avoid such mistakes and to steer clear of being sucked in by appealing marketing devices is to follow these guidelines regarding common travel insurance mistakes.
Establish your Needs
Firstly, establish your needs. Make sure you know exactly what sort of protection you want even before you begin your search. Once you have a clear outline of your requirements then you can begin to match them with a company’s insurance package to fit your needs. Eliminate those packages which fall short.
Things to bear in mind when figuring out what you require is how long you will be away for, what activities you will be undergoing on your trip, if you have any beneficiaries that you want to be included on the insurance and what belongings you will be taking with you.
Often a good way to make sure travel insurance covers what you need is to see if the policy includes a key fact sheet. Often key parts of the policy are outlined for customers, making it much more convenient that reading through the often multiple pages of policy filled with jargon. Making a list of your own needs helps with this part, as you can directly compare it to the insurer’s fact sheet.
If you are away for a short holiday, perhaps booking one of the low cost airlines for a Spanish getaway for a week or two, you must search specifically for holiday insurance that covers this time duration, as the protection offered with this kind of insurance differs greatly from long-term insurance.
With travel insurance being such a necessary part of going on holiday, it is of little surprise that many scam companies are in operation to make a quick buck of the back of someone else’s requirement. Be sure to avoid such scams by checking if the company you wish to be insured with is Financial Services Authority (FSA) approved. The FSA has to approve all legitimate insurance companies, so if you do not see an approval, don’t purchase insurance.
If you have any special requirements, for instance, you take medication, you must make sure that this is mentioned in the policy, as often policies fall short of mentioning or providing adequate medication cover, especially for more elaborate medication needs. If you are purchasing travel insurance on behalf of others, make sure you have a detailed account of their medical needs as well.