How To Get The Most Out Of Travel Insurance
Insurance is usually the last aspect of a holiday to consider before you jet off around Asia. But if you follow these top ten tips from Singapore's Wise Traveller, you can get the best travel insurance and guarantee a safe and secure holiday.
1. Where Are You Travelling To?
Don't take it as read that your destination is covered as some politically unstable countries are not included. If in doubt, double-check with your insurer that you are covered and be specific as to where you are flying to. Some insurers vary their definition of Europe: are you going to the European Union or a country on the European continental shelf?
2. Thieving Hands
Being the victim of theft is no laughing matter and even less so if your items are not covered by your insurance. Did you know some cover excludes items stolen while they're going through the hold?
3. Delays and Cancellations
Ensure your insurer covers you for delays/cancellations, and what you're entitled to. Check the fine print as some budget airlines are excluded, leaving you potentially stranded and out of pocket.
4. Know Your Limits
Check your policy's cover limits and any excess you have to pay. If you are taking valuables, you could end up with a fraction of their value if they are stolen due to per item limits. Although you may have $10,000 cover on personal items, you may find that each item is capped at an amount much smaller than the total cover.
5. Keep Safe
Take all necessary steps to stay safe and your valuables secure. Lock doors and close windows because any opening could give an insurer the sniff of negligence and cancel or deny your claim.
6. Fancy Danger or Sports?
If you are intending to go for more than a casual beach stroll, then be covered for it. Activities such as skiing, mountaineering and even scuba diving may not be standard and could cost you extra cover. Make sure what if any sports are covered.
7. Report It
If you've suffered a theft or an accident, get a police report. Having one will strengthen your claim, not having one may provide reason for claim delay or denial.
8. Medical Treatment
Your health is valuable, so clarify what medical care you are entitled to. Declare any pre-existing medical conditions and check the insurer's limits: low ones may only cover minor injuries. Also be wary that some medical cover will only cover specific travel related medical conditions and travel accidents, so if you happen to need treatment for a condition that was not a result of your travelling you may not be covered.
9. Copy That!
Get copies of your passport and flight tickets; document and photograph your valuables. Reference serial numbers of electrical items. Being doubly sure reduces the risk of a claim going astray.
10. Never Assume
If things seem a little too good to be true, chances are it might be. If in doubt, ask: from travel dates to the kind of cover you require, what is and is not covered and under what circumstances. Being secure in that knowledge is the key to a great holiday.
In general it's important to understand insurance companies need to manage risks, which in turn allows them to maintain better pricing on premiums. Contrary to popular impressions insurance companies do not attempt to deny all claims, however they do take necessary steps to weed out fraudulent claims. In this effort the processes and procedures may seem a little onerous to ensure only valid and honest claims are assessed and approved. The more bogus ones they catch the cheaper travel insurance will remain for all us honest individuals.
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