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Blog > Travel Insurance > Travel Insurance Myths Decoded

Almost every one of us love to travel, explore different places, experience a new cultures and of course make memories that would last a lifetime. 

Traveling is all about having a great time and that is how it should be. When it comes to travel, you have a list of things to pack before we kick start the journey. You tend to plan each and everything very carefully so that you don’t forget anything behind. However, despite being very thorough with all the stuff you need to pack, you tend to forget travel insurance. In fact, it never even comes to our mind while making our travel bookings- domestic or international. And, unless it is a mandatory precondition like for applying visa to a country; we will not even think of buying one.

Travel Insurance Myths Decoded

We don’t think about purchasing a travel insurance cover, no matter how often we might travel. Our mindsets are clogged with certain myths about it and thus we abstain from buying any such plan.

Top Travel Insurance Myths

1.      The number one myth when it comes to travel insurance is “Nothing is going to happen to me”. Well, you cannot predict what might happen the very next second, so how can you be so sure about your travel plan. It is quite an illogical thinking on your part. You may have travelled abroad a thousand times and never once bought overseas travel insurance. But this does not certify you will never be in a fix. Words for the wise – Don’t push your luck! You never know what happens on your next trip. Thus, it’s better to be prepared and stay covered even while traveling.

2.      Second myth is a popular one. That the insurance company is going to find a reason to deny the claim, so no point buying any travel insurance. But the truth is no insurance company will deny a valid claim. So, the point here is that before taking a travel policy, read the offer document carefully and understand what all is being included in it and for what things will you be given complete coverage. (Graphical analysis) Furthermore, a total of 1300 claims for travel insurance alone were paid out by Apollo Munich in the last year, the break-up of which is given below.
   
Benefits Claimed and settled  Number  Percentage 
Baggage Delay/loss 110 8%
Checked-in Baggage delay/loss 87 7%
Financial emergency  14 1%
Loss of passport  46 4%
Medical (In/out patient +Dental emergency) 919 71%
Trip delay/curtailment 96 7%
 
 3. Third myth happens to be yet another most common reason given by most of us for not purchasing travel insurance. “I already have a health insurance policy so I need not pay extra for coverage.” This is what we often say. But, here the truth lies in the fact that your existing health insurance plan should clearly mention that it provides you full coverage abroad. But, if that is not the case, you need to opt for one out of the many overseas travel insurance policies available in the market.

4. Fourth myth is thinking ‘I will cut short my trip and get back home if I fall sick’. This is totally out of being your logical self, because, in case you have had a medical emergency, you will not have the time to book a ticket and get back to home. Instead, the very first thing that will happen is that you will be rushed to the ER at the nearest hospital. This, in turn will lead to a heavy medical bill waiting to be paid by you on discharge. However, having travel insurance keeps you covered as well as helps you in paying off your medical bills with complete ease.
 
5. Fifth myth that bears in our mind is, travel insurance is quite expensive and it’s more like shelling out more cash than needed. On the contrary, getting stuck in a foreign country and rummaging your brain with possible options so as to sort things out. Whereas the best option would have been opting for a travel plan. Also, you should understand the fact that when an emergency strikes, it will not consider the duration of your stay or the place of your visit. Apart from covering your medical expenses many policies also gives you coverage for baggage loss, passport loss, financial emergency, trip delay or curtailment, flight cancellation, etc.

This may not be an exhaustive list of myths revolving around travel insurance. But these are few of the most prominent and common myths, which people believe in and end up traveling without buying travel insurance policies.

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