Travel insurance is an essential requirement for the contemporary traveller. Although not a legal requirement, it’s comforting to know that if anything goes wrong during your trip, you’ll be safe, secure and free of financial impact.
However, while we all know just how important travel insurance is, it can be difficult to navigate through the various different policies available today. What benefits should we be looking out for? What do we need to be wary of when buying travel insurance? Read on for all you need to know about buying travel insurance in 2023.
What to know about buying travel insurance
Check the policy meets your needs
When buying a new travel insurance policy, check the policy benefits and ensure it meets your needs. Today, many of us look to ensure the cost of our holiday and/or flights would be reimbursed in the event our holiday or flights get cancelled or we need to cancel our plans for any reason, for example.
In addition, ensure you’re happy with the level of financial cover available for emergency medical assistance ,as well as how much you’ll be paid out if your baggage gets lost or delayed during transit.
Most basic policies include at least some financial cover in the event of permanent loss of use of a limb or permanent total disablement, for example. However, some policies offer additional cover, with some covering other medical conditions arising from accidents and injuries abroad, as well as loss of earnings.
Choose a trusted insurance provider
Choosing a reliable, trusted insurance provider is always a good way to know that you’ve arranged a reasonable level of cover for yourself.
While there’s nothing to necessarily suggest that cheaper travel insurance providers don’t offer a satisfactory level of cover (it’s all about that small print!), personally, I tend to feel more confident when I’ve gone with a well-known provider. In any case, I’d avoid any providers who’ve received an overwhelming number of negative customer reviews, for sure.
On most of my recent trips abroad, I’ve ended up going with heymondo international travel insurance, who claim to offer one of the most comprehensive travel insurance policies available. Heymondo’s single trip policies currently offer medical expenses cover up to $10,000,000, repatriation and early return up to $500,000, luggage theft and damage cover up to $2,500, trip cancellation cover up to $7,500, and COVID-19 cover, among other benefits. Plus, if needed, you add on benefits like cruise cover, adventure sports cover, and electronic equipment cover. In the past, I’ve also found their 24/7 Doctor feature (available via the app) useful while on-the-go.
Read the small print
When you’ve finished completing your travel insurance quote, it can be tempting to just pay up and print out the certificate so you can cross the task off your holiday planning to-do list, and be done with it.
However, ignoring the terms and conditions of your preferred travel insurance policy can mean that you end up with a void policy, which doesn’t offer the cover you need.
For example, some travel insurance policies won’t cover certain destinations and activities. So, if you’ll be travelling somewhere a little off-the-beaten-path, check you’ll still be covered by your chosen policy.
Ensure pre-existing health conditions are covered
Failing to declare pre-existing health conditions can be a surefire way to void your travel insurance policy. Every year, thousands of claims are rejected because the policy holder has failed to disclose any prior medical conditions.
Often, there isn’t any real intention to mislead the insurer but, instead, people may not realise that minor conditions need to be declared. Take anxiety and depression, for example. Many people may not realise these conditions need to be declared to a potential travel insurer; after all, they’d be unlikely to pose an emergency risk during a flight, or otherwise. However, many insurers insist that all pre-existing health conditions – no matter how trivial – are fully disclosed beforehand. In the event you were to make a claim, the insurer may decide not to pay out for any incidents connected to your undisclosed preexisting health conditions. Or, they could choose not to pay out at all, for any other aspect of your cover.
It pays to be on the safe side where travel health is concerned; you may wish to consider taking out a policy designed to meet the needs of those with pre-existing health conditions, as this may offer you a better level of cover for your personal circumstances.
There’s a lot to consider when taking out travel insurance but, if you bear the above factors in mind, you’ll be sure to find the right policy for you.
What are your top tips for hunting down the best travel insurance policy? Comment below with tips and suggestions for fellow readers.