Travel insurance is crucial for those who plan on going on vacations via flight or bus trips. But, as significant as it is, many people still choose to travel without them mainly due to some misconceptions. Here are the five common myths about travel insurance, and let us explain why they’re not true.
Travel policies are too expensive
There’s no single factor that determines the cost of travel policies, which varies based on multiple factors like trip duration, coverage limits, destination, and the traveller’s age.
Nonetheless, the expense is generally a small fraction of the total trip cost and can save you significantly if an unexpected event occurs. Besides, the price is negligible when compared to potential expenses for medical emergencies or trip cancellations, which could cost even more.
It is unnecessary if you’re healthy and young
While being healthy is beneficial, unforeseen events like trip cancellations, flight delays, or medical emergencies can occur to anyone regardless of age or health.
With travel insurance, you can be certain to receive financial protection and assistance for unexpected situations during your trip. This not only makes travelling stress-free but it takes the potential financial burden off your shoulders.
You don’t need insurance for domestic trips
Another common misconception that many people have about travel policies is they should only opt for one if they’re planning to travel overseas. Due to this, insurance for domestic trips is often ignored.
However, travel inconveniences, such as flight cancellations, lost luggage, or sudden illness, can occur even on short domestic vacations, making it crucial to travel with coverage. Travel insurance can be valuable for domestic travel as well, offering assistance and reimbursements for unforeseen circumstances.
All travel policies are the same
No two travel policies are identical to each other, especially if they’re offered by different companies. Although basic travel insurance across insurers is somewhat similar, policies still vary significantly in coverage, exclusions, limits, and conditions.
Some policies offer special coverage like adventure sports, pre-existing medical conditions, or trip cancellations for specific reasons, while others don’t. So, reading and understanding the policy details is the only way to determine the similarities and differences.
It duplicates coverage from other sources
Some credit cards offer limited travel benefits that are often mistaken for a travel policy. Avid credit card users and people with health insurance may think of travel insurance as duplicate coverage because they get similar benefits from these products.
But in reality, a dedicated travel policy encompasses other aspects like trip cancellations, lost baggage, and hijack distress allowance that aren’t typically covered by either product. Even health insurance policies often exclude overseas medical treatment and hospitalisation fees, which are included in travel coverage.
Travel insurance myths
Understanding how travel policies work is essential to making informed decisions before purchasing them and considering what type of coverage suits your needs best.
We hope by debunking these myths, you can begin to realise the importance of travelling with insurance, whether locally or intentionally. We also advise that you always compare policies and select one that aligns with your specific travel plans and requirements for a happier journey.
Bjak is one of Malaysia’s biggest insurance comparison websites, offering policies from over 10 brands. Get your free insurance quote from Bjak today!
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