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Top 10 Travel Insurance Myths Explained

Team AckoJan 25, 2023

Are you planning a trip soon and considering travel insurance? Before you make a decision, it's important to separate fact from fiction. In this article, we'll be breaking down the top 10 travel insurance myths and explaining the truth behind them. So whether you're a seasoned traveller or organising your first trip, read on to discover the reality about travel insurance.

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Contents

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Common travel insurance myths

We have dispelled the prevalent myths about travel insurance in this section; check them out.

1. Travel insurance is a waste of money

One of the most common myths about travel insurance is that it's a waste of money. Many people think that they'll never need to use it, so why bother buying it? However, this couldn't be further from the truth.

First of all, travel insurance can offer financial security in case of unanticipated events such as trip cancellations, lost baggage or medical emergencies. These kinds of incidents can be expensive and even ruin a trip if there is no coverage.

Additionally, travel insurance can also provide valuable services such as emergency medical transportation and travel assistance. These services can be a lifesaver in case of an emergency. They can help you navigate unfamiliar territory and get the help you need quickly.

Overall, travel insurance may seem like an unnecessary expense. But it can provide valuable protection and assistance that can save you a lot of money and hassle in the long run. So, before you dismiss it as a waste of money, consider the potential benefits it can provide.

2. Travel insurance is only necessary for international trips

Another common myth about travel insurance is that it's only necessary for international trips. Many people assume that since they'll be travelling within their own country, they don't need travel insurance. However, this is not the case.

Travel insurance can be just as important for domestic trips as it is for international ones. Accidents and emergencies can happen anywhere. Even a short trip can be disrupted by unforeseen events. So, whether you're planning a domestic or international trip, it's always a good idea to consider travel insurance as a way to protect yourself and your trip investment.

3. Travel insurance is too expensive

Another myth about travel insurance is that it's too expensive. Some people believe that they can't afford to buy travel insurance, so they choose to go without it. However, contrary to popular belief, this is not the case.

The cost of travel insurance can vary depending on a number of factors, such as the length of your trip, your destination, and the type of coverage you need. However, in many cases, travel insurance can be surprisingly affordable.

Additionally, the price of insurance is very low compared to the possible financial loss resulting from unfortunate events. In the absence of a travel policy, potential costs of unexpected events can amount to a lot.

So, don’t be too quick to dismiss travel insurance as too expensive. Instead, shop around and compare prices to find a policy that fits your budget.

4. I will need to buy a different plan for each member of my family

Many people believe that while travelling as a family, each member must have their own travel insurance plan. This is not, however, the case.

Many travel insurance policies offer the option to add multiple members of your family to a single policy. This can save you money and make the process of purchasing insurance more convenient.

You can often include your spouse, children, and even grandparents on a single policy. Some policies may even offer discounts for families. To find out the precise information and family-friendly options, be sure to contact your insurance company.

5. My health insurance will cover all my medical expenses while travelling

Many people believe that their health insurance will cover all of their medical expenses while travelling. However, this is not always the case.

While your health insurance may cover some medical expenses while you're travelling, it may not cover all of them. Some health insurance policies have limitations on coverage outside of your home country. Such policies may not cover emergency medical transportation or other types of medical assistance.

Travel insurance, on the other hand, is specifically designed to cover medical expenses while travelling. It can provide coverage for emergency medical treatment, hospitalisation, and even emergency medical transportation. It can also provide you with assistance services such as help finding a local doctor or hospital.

So, since health insurance may not cover all medical expenses while travelling, it's best to have travel insurance as an extra protection.

6. If a flight is delayed or cancelled, the airline will compensate me

Many people believe that if their flight is delayed or cancelled, the airlines will compensate them. However, this is only sometimes the case.

Airlines are not always obligated to compensate passengers for flight delays or cancellations. Even when they do, the compensation may be limited. Airlines may only provide vouchers or refunds for the cost of the flight. However, they may not cover additional expenses such as accommodation, meals or transportation. Furthermore, some airlines may have conditions that need to be met for compensation to be given. Examples include flight delays or cancellations brought on by specific causes or circumstances.

Travel insurance, on the other hand, can provide coverage for trip cancellations, trip interruptions and delays. It can also reimburse you for additional expenses such as accommodation and meals.

The bottom line is that airlines may not always compensate for flight delays or cancellations. That is why it's best to have travel insurance for added protection and assistance.

7. Travel insurance is only necessary for expensive trips

Another common myth about travel insurance is that it's only necessary for expensive trips. Some people assume that they only need it if they're planning an expensive or luxurious vacation. But this is untrue.

The cost of your trip doesn't necessarily determine the likelihood of an unexpected event occurring. Unexpected events can happen on any trip, whether it's a budget-friendly or a luxury vacation.

Additionally, even a small unexpected expense can add up quickly and can disrupt your trip. For example, a medical emergency or a flight delay could result in additional expenses such as accommodation, meals or transportation.

So, whether you're planning a budget-friendly or a luxury vacation, it's always a good idea to consider purchasing travel insurance.

8. On an adventurous trip, travel insurance will safeguard me

Many people believe that travel insurance will safeguard them from the financial impact of any unexpected events or accidents on an adventurous trip. However, it's important to understand that travel insurance policies have their limitations and exclusions.

While travel insurance can provide coverage for unexpected events, it may not cover all the risks associated with an adventurous trip. In fact, many travel insurance policies have exclusions for certain types of activities, such as adventure sports like bungee jumping, skydiving, or white water rafting. So if you're going on an adventurous trip, it's important to make sure that your insurance policy covers the specific activities you intend to do.

Additionally, even when coverage is provided, it's important to be aware of the policy's limits and exclusions. For example, the coverage may be limited to certain medical treatments or emergency medical transportation. In such cases, the policy may not cover the complete cost of the treatment.

So, while travel insurance can provide some financial assistance on an adventurous trip, it's important to understand its limitations and exclusions.

9. Travel insurance is required only in select countries

A common misconception about travel insurance is that you only need it if it is mandated by the country you are visiting. It's true that some countries may require travellers to have travel insurance as a condition for entry. Nevertheless, regardless of this entry requirement, travel insurance can offer useful coverage.

Even in countries with a well-developed healthcare system, medical treatment can be expensive. That is why it's important to have travel insurance to cover the costs, especially if you have pre-existing medical conditions.

Furthermore, regardless of the nation you are visiting, unforeseen events can occur anytime, anywhere. If you have travel insurance, you can relax and enjoy your trip without worrying. 

10. I am too old to buy travel insurance

Many people believe that they are too old to buy travel insurance. They may think that insurance companies have age limits or that their health concerns make them ineligible for coverage. That said, it's not always the case.

While it's true that some travel insurance policies may have age restrictions, many insurance providers offer coverage for travellers of all ages. In fact, many policies are specifically designed to meet the needs of older travellers and can provide coverage for pre-existing medical conditions.

So, don’t assume that you're too old to buy travel insurance. Instead, be sure to check with your insurance provider to see if there's a policy that meets your needs.

Frequently asked questions

The most frequent questions about travel insurance myths are addressed in this section.

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I already have health insurance, do I still need travel insurance?

Even if you have health insurance, you should still consider getting travel insurance. This is because a health policy may not cover you while you're travelling outside of your home country. Besides, travel insurance can provide coverage for things like trip cancellation, lost or stolen luggage, and emergency evacuation that health insurance does not cover. To better understand the inclusions and exclusions of health and travel insurance, compare their terms side by side.

Is it true that travel insurance is only necessary for international trips?

No, travel insurance can be beneficial for any trip, whether it's domestic or international. Unexpected events can happen anywhere, and having travel insurance can give you peace of mind and financial protection.

Is it true that travel insurance only covers accidents?

No, travel insurance covers accidents and a host of other unfortunate events as well. It usually covers illnesses, trip cancellations, lost or stolen luggage, and more. It's important to review the coverage offered by different policies to understand what is covered.

Is it true that travel insurance is a waste of money?

No, travel insurance is not a waste of money. It can provide valuable coverage for unexpected events that can occur during a trip. Consequently, it can give you peace of mind and financial protection. It's important to review the coverage offered by different policies and find the one that fits your needs and budget.

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Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.

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