1. You don’t really need Travel Insurance, it’s just a waste of money.
False. Though you may spend a fair bit of money on insurance and end up not making any claims, the money has not been wasted. The truth is, whether you’re going on a big or small trip, or even if you’re just hanging around home, you never know what is going to happen to you. When you travel you take a lot of risks, both with yourself, your money and your belongings. If you fall sick or injure yourself overseas the costs of both medical and hospital attention can be pretty hefty, and that’s not even taking into account the expense of emergency medical assistance and evacuation. There is also the risk of something happening to a family member back home in which case you could be facing thousands of dollars in cancellation fees for flights, accommodation or tours. Travel insurance will cover these costs, as well as the cost of staying on longer in a destination to stay with your travelling companion. Then of course there’s your suitcase that could potentially be thousands of dollars worth of expensive items and equipment all in one bag. Travel insurance will cover the costs of repairs or replacements if anything is stolen or damaged. There’s a long list of reasons why you should without a doubt protect yourself and spend the money on travel insurance.
2. Claims are rarely paid out.
False again. Each year insurers pay out millions to their customers for claims made. As long as you have the correct documentation and paperwork then there is no excuse not to be reimbursed. Sometimes this paperwork can be difficult to obtain, but if you want your insurer to pay your claim then you need to have it. Just think: if you put a claim in for a $3000 camera that was stolen, yet you have no receipt or proof of purchase of the camera itself and no police report to say that it was stolen, nobody is going to simply give you the money. Insurers take false claims very seriously, but if you have the correct documents then all will work in your favour.
3. Insurers put so many exclusions in the policy fine print that you probably won’t be covered anyway.
True and False. In any insurance policy you will find particular exclusions in the fine print, and there are always logical reasons for doing so. For instance, if you leave your laptop sitting on a table in a café, go to the bathroom and come back to find it missing, your travel insurance is highly unlikely to replace it. It is always important to read through these general exclusions of any insurance policy so that you are aware before you travel of what will and will not be covered. However, in saying all of this, when you compare the list of exclusions to the number things that travel insurance policies will cover, travel insurance is worth every penny.
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