Everything You Need to Know About Travel Insurance
FAQs and Expert Tips on Securing High-Value Items While Travelling
With the rise of the tourism industry in every part of the world, trips out of town and out of the country have become the ideal vacation for people everywhere.
After all, who wouldn’t want to see the wonders of the world and everything it has to offer?
Most times, though, it’s easy to get swept up in the bustle of planning itineraries and packing your belongings. As a result, you’re bound to forget one very important thing – travel insurance, especially travel insurance for high value items.
From Travel Blog
What’s that, you say?
Well, in a nutshell, it’s basically protection for you and your belongings while you’re out of town or overseas. Like your home insurance, if any untimely accidents happen, you’ll be able to get some funds to cover the damage. In worst-case scenarios, you won’t have to worry about where to find the money for a replacement.
It might sound a little bit paranoid but trust us. It’s worth the peace of mind you’ll have, knowing you’re covered if anything happens.
For starters. you might need to cut your trip short. While we hope it doesn’t happen, you could get your stuff stolen while on unfamiliar land, or get your luggage lost by the airlines.
You never know what might happen while you’re on your trip. And it’s best to be prepared, so read ahead to learn more about travel insurance!
FAQ #1: What does travel insurance cover?
Mainly, travel insurance will cover any expenses from cancelled trips and/or accidents that send you to the hospital.
Most insurance companies today also offer add-ons where you can insure your luggage as well. This is especially important for high-value items like mobile phones, laptops or computers, cameras and photographic equipment, among others.
If something gets stolen from you or your luggage goes missing in baggage claim, your insurance provider will cover the costs for you.
FAQ #2: Why do I need travel insurance?
We know what you’re going to say.
“I’ve got everything planned out, and I made sure all the activities are perfectly safe. Why would I need travel insurance?” or “But I’m really careful with my stuff. I don’t need travel insurance. It’s just another expense that I don’t need.”
Yes, you could be really careful with your things. You might have even bought each of your gadgets their own protective case just to be sure. You could have everything planned out to the smallest detail.
But even the most careful people get in accidents every once in a while, and it’s better to be prepared for anything.
In fact, according to the ABI, in 2016, the average medical claim from travel insurance policies was around £1300.
Think about it. It’s already stressful enough to fall ill in a foreign country. You don’t need the added stress of what’s bound to be a hefty amount of medical bills hanging on your head.
Plus, if anything were to happen to your precious belongings (and we mean that literally, like watches, gadgets, and the like), you won’t have to worry about repairs and replacement.
There’s no better way to enjoy your much-deserved vacation than having some peace of mind about your safety.
FAQ #3: How do I make a claim?
Well, this really depends on your insurance provider’s specific policies, but there are a few general rules that apply to everyone.
You will typically be asked to contact their Claims division so you can discuss what exactly happened with an agent. For this, you’ll have to have a few details prepared.
If your flight was delayed beyond 12 hours (the usual amount of time covered):
- Name / Type of your policy
- Policy Number
- Flight Details
- Evidence of the delay (normally a confirmation letter from the airline)
If you have a medical emergency that sent you to the hospital for treatment or requires you to come home immediately:
- Name / Type of your policy
- Policy Number
- Resort / Hotel and country visited
- Value of the claim
- Brief description of your circumstances
- Travel period
- When it happened
- Receipt of expenses (if you’ve already paid for them)
FAQ #4: How do I prove the value of my belongings when making a claim?
You’ll need to think ahead for this one. You have no idea how much damage control you’ll be able to do if you have the proper documents to support your claim.
- As for all major purchases, get some hard proof for your valuables.
Even an old receipt could spell the difference between a paid and rejected claim. For jewellery, you might want to check if your insurance provider will accept a valuation certificate.
- Before you even leave town, double-check the total value of your luggage.
If you need to go through them thrice, or have a friend check it with you, do it. If you end up with a higher amount than what’s covered on your policy, get in touch with your insurance provider immediately and get it sorted before you leave.
- Like with your contents insurance policy, you should have your belongings valued regularly.
Insurers recommend having your valuables appraised at least once a year so you always have an estimate of their value.
- When in doubt, consult with your travel insurance company.
If you’re not sure whether you should take your vintage camera with you, or wear that gorgeous jewellery set on your vacation, talk to your insurance agent. They’ll be able to tell you if it’s something you can make a claim for or just simply not practical.
If you have these important documents and details, you won’t just be saving time from rifling through your cabinets and folders for the right papers. You’ll have a much higher chance of getting that claim AND the full value for them.
FAQ #5: What if I have a pre-existing medical condition? Will that affect my travel insurance claim?
Short answer: it depends. Most insurance providers today cover a number of medical conditions in their insurance policies, but you’ll have to speak with them to make sure.
But don’t worry, you’re still likely to get your condition covered. It’s only a matter of whether or not you’ll need to pay the additional premium, have your coverage limits adjusted, or not.