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Top 5 Travel Insurance Myths Busted

By Finserv MARKETS - Mar 23,2019
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Top 10 Travel Insurance Myths

Opting for the extensive coverage offered by a travel insurance plan can provide you with a plethora of benefits. With so many options to choose from, it’s important that you select the best policy which can be tailored to your needs and also fits into your budget. However, there are a lot of myths circulating about such plans and this article will try to dispel those doubts. Whether you are booking a long or a short trip, it’s important that you have proper backup to combat unforeseen situations like loss of luggage or loss of essential travel documents, flight delays, medical expenses and many more. Here are some travel insurance myths that can be misleading:

Myth 1: Everything will go According to Plan

Careful planning for your trip is important, but life is often uncertain and can pose unanticipated challenges. Hence, being well-prepared with a good comprehensive travel insurance policy is highly recommended. It will provide coverage for treatment of various illnesses and costs that may occur due to hospitalisation.

Myth 2: I Already Have Coverage in My Home Country

Just because you’re covered for domestic travels does not imply that the same is true regarding overseas journeys. Therefore, opting for a comprehensive plan becomes necessary for providing a helping hand in your hour of need. Flight delays are frequent during international travels and your policy is designed to cover your hotel expenses. Travel insurance plans should offer flight delay coverage as well.

Myth 3: I Don’t Need Travel Insurance

Even the greatest prophecies have failed and it’s a fact that disaster can strike anytime without ringing any warning bells. Unforeseen medical emergencies can result in a significant monetary loss and reimbursement of the same becomes an absolute necessity under such a scenario. That’s why many people are increasingly opting for this financial cushion.

Myth 4: Travel Insurance is Only for Adventurous People

Many adventure sports athletes constantly travel to various destinations across the world to display their talent and of course, for the adrenaline rush. Although such individuals are more prone to the risk of injuries, other individuals are equally exposed to the same risks. A road accident can take place any time and insuring yourself will help you mitigate such risks by providing the necessary financial backup.

Myth 5: Medical Bills Do Not Cost Much Overseas

Unfortunately, this is far from the truth if you’re especially planning on travelling to developed countries. Their currencies are way stronger than the Indian rupee and combine this with sky-high medical bills, it can have a massive impact on your finances. Hence, purchasing a travel plan is a must.

With Finserv MARKETS, buying a policy is easy, quick and completely hassle-free. What’s more? The entire process is online and can be accessed right from the comfort of your home! So why wait? Buy a travel insurance policy with us, today!

Also know about the benefits of travel insurance which you will get when you buy one

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment, and exclusive EMI store, all under one roof- anytime, anywhere!

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522