Have You Asked these Travel Insurance Questions?
Individuals considering travel insurance often ask these questions.
It's natural to mull over your policy. Without proper guidance, however, you're likely to misinterpret or make assumptions about your coverage.
Here are five of the most commonly asked travel insurance questions:
1. Can't I just use my existing health insurance?
Yes, but to a limited extent. Regular health insurance plans offer little to zero coverage for medical emergencies that occur overseas as they are geared towards local medical care.
If your country has a universal health care program in place, they can provide assistance for minor injuries or illnesses. Unfortunately, such a feature is only optional and there are but a few insurance companies that make room for universal health care during a major medical issue. And just when you think they'll evacuate you and send you back home, all-expense-paid.
2. Can I cancel my trip when there's an incoming hurricane?
Yes, you can. A great number of travel insurance plans cover hurricanes, weather disturbances and other fortuitous events as long as you added a trip cancellation insurance to your existing policy.
For your claim to be valid, first you must ascertain that your reason for cancellation can be found under the list of covered reasons. Second, you must have booked your trip before the storm was named. Third, it is advisable to buy trip cancellation insurance right after securing your tickets. Finally, fully insure all your non-refundable trip costs.
3. My credit card has travel insurance, should I just go with it?
Although you can take advantage of the opt-in travel insurance plan offered by your credit card company, there's no guarantee large-scale medical emergencies will be covered. Coverage is usually limited.
Some credit card companies offer cancellation coverage, limited to not more than $2,500 and good for one year. Travel delay and interruption coverage as well as the list of covered reasons are also limited.
Here's more: credit cards do not cover medical expenses incurred abroad. If you want quality medical care outside of your home country, then purchase a separate travel medical insurance plan from a trusted insurance company.
4. When's the best time to buy travel insurance?
Ideally, a few days after booking your trip. As soon as you make your initial deposit, look for a travel insurance plan that you think will be able to meet your needs.
Make the most out of your coverage by purchasing early. This gives you enough time to qualify for pre-existing condition coverage and hurricane coverage.
5. How do I become eligible for pre-existing condition coverage?
Many travel insurance plans offer to waive the pre-existing condition clause but coverage will only take effect if you follow these conditions: (1) purchase a travel insurance plan immediately after initial trip deposit, (2) insure the entire trip and (3) medically cleared for travel during the purchase.