The primary purpose of buying a traveler’s insurance is ensuring that you receive monetary compensation for unexpected financial losses that could occur during a trip. Overseas or foreign travel insurance plans are quite expensive and not being able to claim the same can cause a great deal of disappointment. Here are four useful tips that will help you avoid travel insurance claim rejections:-
Waiting Too Long to File a Claim
Most of the travel insurance policy providers require you to inform them of any claims within 24 hours of the incident. Failing which, your claim could be rejected. For instance, if you fell ill during a trip and had to seek treatment abroad, you must inform your insurance provider immediately via phone call or website. However, if you file for a claim after returning from the trip and are not able to produce any proof of your treatment abroad, your claim will be rejected.
At times, policyholders attempt to exaggerate the details of an illness, injury, theft or loss, in a bid to get some more money from the insurance company. However, insurance companies scrutinize every detail meticulously. If the insurance company finds out that you have overstated any incident in your claim application, it will be rejected immediately. So, don’t go overboard, be honest while filing a claim and make sure to furnish enough proof to support your claim.
Claiming Without Understanding the Policy Limit
Every policy comes with a claim limit for each type of travel insurance coverage. If you apply for a claim beyond this limit, your claim will be rejected, or you may only be reimbursed partially. So, if you are packing for a trip, avoid including expensive items like jewellery or expensive gadgets as the entire cost may not be reimbursed in case of baggage theft or loss. Also, it’s a good idea to document your bag contents with images and receipts.
Failing to Provide Adequate Documentation
When you apply for a travel insurance claim, it’s imperative to support your claim amount with adequate documentation. Supporting documents such as medical bills, boarding pass, flight details etc. have to be submitted with the claim. The list of documents required for a claim is generally mentioned in the policy documents. Hence, read your policy documents carefully to know the supporting documents required for successful claim settlement.
If you follow these tips, you will surely be able to file your travel insurance claims successfully. However, it’s important understand the policy wordings and the claim process beforehand in order to avoid disappointment later. With Bajaj Allianz travel insurance plans, you can always be assured of quick and hassle-free claim process thanks to their in-house claim settlement. To buy or know more about travel insurance claims visit Finserv MARKETS now!
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