You’ve probably heard it many times before. Whether it is unsolicited advice from friends and family, or the last-minute message that pops up before completing an online reservation. Do you want to secure your trip with Travel Insurance?
There’s a lot about travel insurance that may seem pretty straight forward. But the reality is, it can be a complicated step in your vacation process, and travellers that have a better understanding of how it works know the importance of when and why you should purchase it.
Here, we’re going to break down the top five myths about travel insurance, so you can travel safer and smarter the next time you’re on an adventure.
Perhaps the most common myth about Travel Insurance is that it gives you the ability to cancel your trip at any point and receive full reimbursement for pre-paid expenses. The reality, unfortunately, is that it does not give you that power. There are often specific covered reasons for how a trip may be reimbursed. Specific unforeseen circumstances like, inclement weather, death in the family, or a medical interruption. Purchasing travel insurance doesn’t mean you can cancel a trip altogether and receive reimbursement just because you don’t want to go, or your plans change. It does, however, protect you and your wallet if you have a valid reason, and may help you reclaim lost dollars for pre-paid expenses.
Depending on the provider you decide to purchase travel insurance through, this could be correct. However travellers who purchase a travel insurance policy through Allianz Global Assistance, will be pleased to know that our policies may offer coverage for travellers with pre-existing medical conditions. Depending on how long you plan to travel and how old you are, our plans have a condition that says you must have a stable medical history for a certain amount of time (either 90 or 180 days) before your policy starts. For more information, be sure to review the policy documents of our Medical Plan
, Medical + Cancellation Plan
, and Annual Medical Plan
People often skip purchasing travel insurance because they feel their luck is good enough to take the risk, or they feel like the expenses they may incur in an emergency situation will be minimal, compared to the upfront cost of travel insurance. But the value of travel insurance is that it protects you from those unforeseen circumstances, and the interruptions that no one can plan for. It also typically comes with emergency transportation and evacuation in the event you find yourself in a messy situation in an unknown location. Not only that, hospital, pharmacy, and doctor’s bills are much higher for foreign visitors. Even if you have health insurance through your employer or country of origin, you may not be eligible for coverage abroad. The cost of additional coverage through travel insurance may save you thousands.
While it is true that many credit cards come with such protections as rental car coverage, and reimbursement for lost baggage or trip interruptions, it doesn’t cover everything. In fact, in most cases the coverage provided by your credit card company is minimal at best. It doesn’t come with medical coverage, emergency transportation, or 24/7 assistance like coverages available through Allianz Global Assistance. Be sure to check coverages that accompany your card so you are protected abroad.
We admit. Filing a claim through your travel insurance company isn’t the world’s most sought-after activity. But it also isn’t as difficult as some may suggest. Especially if you choose to purchase travel insurance through a reputable provider. At Allianz Global Assistance we pride ourselves on providing the necessary assistance in making the process of reclaiming lost expenses as easy as possible for our customers through our online Claims Portal. It’s already a pain to have your trip cancelled or interrupted, or cut short due to a medical emergency, the last thing we want is to make the process of recouping pre-paid expenses difficult.
In a world where misinformation can spread so quickly, it is important to take the time and do some research and determine whether or not a travel insurance plan is right for you. For more information visit our travel insurance plans.
Travel insurance is underwritten by CUMIS General Insurance Company, a member of The Co-operators Group of Companies, administered by Allianz Global Assistance, which is a registered business name of AZGA Service Canada Inc.