Fewer individuals are familiar with travel health insurance compared to home, health, and auto insurance. People today should become familiar with travel insurance and its benefits and drawbacks, given how accessible travel is today.
To protect you from financial loss, travel insurance covers a wide range of eventualities and risks.
Pros and cons of travel insurance
You will find some advantages and disadvantages of travel insurance in this section. Before making a choice, you should be aware of them.
Travel insurance benefits
- Brings you mental peace
The main benefit of purchasing travel insurance is the sense of security it provides. You are prevented from enjoying your trips because you are afraid of what can go wrong. Even in the event of the worst-case scenario, having travel insurance guarantees peace of mind.
- Offers lost property compensation
You’ll probably pack several pricey items for the vacation, like your wallet, camera, phone, and others. Your travel insurance policy may provide partial or full travel insurance coverage for these costs if these things are stolen or misplaced. *
- Offers medical expense coverage
Anybody can become ill or have an accident at any time. However, because to the abrupt changes in weather, food, drink, and time zone, there is a high risk of contracting an illness when travelling. You should have a solid strategy in place to deal with medical issues when travelling abroad because healthcare can be rather expensive. *
- Saves you money in the long run
Although purchasing travel insurance at a premium price before your trip may be unpleasant, you should view it more as an investment. It serves as a beneficial element for your health and tranquilly. ##
Travel insurance’s drawbacks
- It can be pricey
The price of purchasing travel insurance is a significant disadvantage. A travel health insurance plan might be somewhat pricey due to the fact that many different things are covered. However, since you might never need it, many people believe it to be a waste of time and money.
As was mentioned, having that peace of mind is sufficient for most people to make up for the expense. Additionally, if you don’t have insurance, you can have to pay a significant sum for unforeseen expenses like medical care for injuries and illnesses.
- May not offer coverage for diseases that already exist
The majority of travel insurance policies only cover unforeseen medical expenditures incurred while travelling. and don’t pay for any pre-existing medical conditions you may have. Those that do frequently result in a significant price rise for a plan.
- A claim for travel insurance can be denied
There is always a danger that a travel insurance claim may be denied. After conducting thorough research, you might have chosen the best travel insurance policy. Even so, the insurance company may reject the claim you submit if there is a minor error or technicality. *
- Contains a few loopholes
Every travel insurance policy has its flaws. Even if they were not excluded, some expenses are refused. For instance, your insurer won’t pay for your therapy if you twist your ankle while ascending a hill. *
Due to the fact that “falling from a height,” even if it only involves taking a wrong step that causes a sprain, is regarded as an exciting or sporting action, most insurers do not offer travel insurance coverage for such activities.
Before travelling, it is advisable to verify which are visa-free countries independently. Travel insurance can protect you from a wide range of potential calamities that could result in you saving real money, even though it might not cover everything and may have irritating loopholes; hopefully, you take these benefits and drawbacks into mind when choosing a plan for your next trip.
* Standard T&C Apply
## 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.
