Travel is the most convenient way for us to explore new exciting, and breathtaking places around the globe. You might be leaving your home to continue your education, going on a family vacation, or going for a significant business meeting. Whatever the cause, we are certain you want to travel without fuss. This is the reason why it’s so important to buy travel insurance online before you leave for your trip.
When purchasing a travel insurance, customers may commit a number of errors. Among the most typical ones are:
- Misunderstanding the policy
People frequently make far more assumptions regarding travel insurance than they should. Before buying insurance, the typical user or insured person must carefully read the policy document. To ensure that you understand the terms of the policy in full, you should double-check all of the policy wordings and avoid making any assumptions.
- Hiding data and facts
Hiding facts is one of the most common mistakes that people make. If you have been withholding or hiding crucial information from your insurance company, many things could go wrong.
- Choosing the wrong policy
You should consider which travel insurance coverage is best for you while looking for the ideal option rather than just how many various types of advantages they offer. For e.g. a medical insurance for travel covers your medical needs on a trip, and you should choose this depending on your age and overall health.
- Low premium traps
Most of the time, buyers are drawn in by the low premium amount. The fact is that when looking for the ideal travel insurance policy, a low premium shouldn’t be the criterion of selection. There are numerous other factors to consider other than the premium cost.
- Ignoring the terms and conditions
One of those common mistakes that people have been making for a very long time is this one. An insurance policy’s terms and conditions are typically a lengthy document. Nevertheless, it is one of the most important documents you will read while looking for an insurance policy. You can always contact the travel insurance in India provider again and request any form of clarification if you have any questions about something in the paperwork.
- No fixed coverage
Before you search for a travel insurance policy, decide on the coverage you want and how much you can spend on the premium amount. You should have a plan, set a budget, purchase a comprehensive policy, and if possible, personalise it.
- Missing documentation
When everything is settled, and you are finally leaving for your vacation, you should exercise extreme caution and always keep the receipts and bills for everything for which you wish to be repaid. Ideally, you should have documentation of everything you did while on vacation.
- Failure to follow deadlines
Let’s say you had a wonderful trip. Still, when you visit the insurance company’s office to submit your claim paperwork for the coverage amount, you are immediately turned away because it is too late to do so. It is crucial to understand the insurance policy provider’s deadlines.
You might be eligible for an extension if you can demonstrate a legitimate cause why you won’t be able to fulfil the deadlines. However, it entirely relies on the company offering the travel insurance policy. Nothing can prevent the insurance company from refusing to grant you an extension if they so choose.
Conclusion
Do your homework. There is a list of exclusions in every insurance policy that outlines what is not covered. Read those in advance of purchasing your policy, not when you have to make a claim. Buy travel insurance online and go through the outlines of the policy.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
