We all know what travel insurance does. It covers for the all risks/uncertainties you may unfortunately come across in your trip, overseas or domestic. Mostly, it covers death, personal accident, medical expenses, repatriation, loss/ delay of checked baggage, passport loss and third party liability.
The travelers seem to have found the definition only partially true. As in the past they would have faced two kinds of situations, despite of having a proper insurance. These are: Insufficient insurance or Claim Refusal.
It probably happens, because consumers don't spend enough time on doing research for different types of covers provided by insurers. Which is why, they falter in selecting the right level of cover for their needs. Basically what they end up getting is a mismatch for their needs.
For instance, not all levels of travel insurance will cover things like lost and stolen phones and cameras, so if you are planning on taking them with you, ensure you have sufficient cover.
Here are the 7 very essential facts to be kept in mind in order to prevent claim rejection/refusal:
1. Always lodge a Police Report for your stolen stuff
If you lose your stuff while traveling, you would require filing an official police report with a police station in the region where the incident happened. Also remember to ask for a copy of the report. A claim without such formal documentation won't be considered valid.
2. Have a Clear understanding of the word “unattended”
Leaving personal items outside public places like a bathroom stall, forgetting your wallet on a shop counter or unknowingly keeping your items alone on a pool lounger or on the beach while you go swimming are all instances of leaving your things unattended and any stolen stuff claims that occur due to such actions are invalid.
3. Ensure you make your claims on time
You must file your claim within 30 days of your coming back from the trip. Any claims made post this time won't be entertained.
4. No Claims allowed on the destinations that are not part of the relevant travel list
If you happen to travel to a destination that is not part of your cover, you are not liable to receive any claim during that trip. This includes any midway destinations. Even if you have to stop in a destination for a few hours, please make sure that the destination is covered under that policy, just in case something unwanted happens.
5. Keep all the relevant documentation handy
In case of any lost or stolen items claims, you will require purchase bills of all the items that you are claiming for.
6. Have an Adequate amount of Cover
Carefully read/scan your Product Disclosure Statement before buying a travel insurance policy to make sure it is a perfect match of your needs.
7. Be in the Knowledge that you may have to pay some excess
Be aware of the fact that most insurance policies have an excess; if you are not keen on paying an excess fee during claiming you will require including an excess waiver in your policy and paying more premium.
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