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What exemptions should I look for when comparing travel insurance policies?

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Published on April 20, 2021. EST READ TIME: 3 minutes

Since the coronavirus pandemic began, a lot has changed. Travelling without insurance can be risky in today’s world. People have realised the need of having a travel insurance policy. The big question, however, is which policy to buy. There is no dearth of travel insurance policies on the market, and we would prefer to buy one that provides maximum coverage at lowest possible premium. One way of finding the best policy is by comparing the exclusions in a standard policy.

Exclusions in Travel Insurance Policy

Often when we compare travel insurance policies, we frequently focus on what is included as part of the policy. However, it is also critical to understand what the insurer does not provide.  

• Breach of law: We know that travel insurance protects us against medical expenses. However, not all illnesses or injuries are covered. If the policyholder needs hospital treatment but the illness or injury was caused during participation in war or in an illegal activity, no reimbursement will be made.  

• Pre-existing diseases: The insurance policy does not cover pre-existing health conditions. If you travel when you have been specifically told by a doctor not to, the policy will not assist you. Similarly, no money will be reimbursed if it is discovered after inspection that the reason behind the travel was for treatment rather than tourism or education, or work.

• Consumption of intoxicants: Needless to say, any sickness or health issues caused by the consumption of intoxicant substances like alcohol or drugs are not covered by the policy.  

• Participation in adventure sports: If you wish to be a daredevil, you must do so at your own risk. The insurance policy will not rescue you from financial losses if you injure yourself while skydiving or river rafting.  

• Self-inflicted injury: Life is full of tribulations, and one must stay strong. Also, keep in mind that your insurance policy will not cover your treatment if the injury happened while you were attempting to self-harm.    

• Cosmetic or obesity treatment: Because cosmetic procedures are not considered emergencies, they will not be covered.

Comparing travel insurance

• Always compare travel insurance policies before buying so that you can make an informed decision.

• By comparing policies, you increase your chances of finding a policy with better features.

• If you make a hasty decision, you will most likely end up with a policy that provides inadequate coverage while paying a hefty premium.  

• When comparing, it’s important to look at the number of exclusions. A better policy will always contain fewer exclusions.

• Different types of policies available depending on how many members of the family are travelling, the age of the traveller, the frequency of travel, and purpose of travel, etc. You must know the difference between them all and determine which one best meets your requirements.

• Lastly, keep an eye on your budget. When you opt for a policy with wide coverage, the premium will also shoot up. Therefore, the policy’s features must include what you specifically would require on your trip.

Conclusion

As a policyholder, you would not want to be in a situation where you make a claim request and it gets denied simply because the reason of the claim is not covered by the policy. Being not aware of the inclusions and exclusions is no excuse. Many times, the terms and conditions are written in fine print and we overlook them. So, one must buy a policy after doing thorough research.

Disclaimer:  The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.