JACKSONVILLE, Fla. โ With the holiday travel rush just around the corner, many people are wondering if spending extra on travel insurance is really worth it.
Cindy Graves, an avid traveler, believes it is.
โMy favorite places to travel are overseas, and thatโs why I think itโs important to have travel insurance,โ she says.
However, Francesca Vandersluis, another frequent traveler, shares a different perspective.
โI wish travel insurance was more affordable, because life happens, and it would be great not to pay an arm and a leg for coverage,โ she said.
Unfortunately, according to recent statistics from Squaremouth Data, 33% of travelers have had their insurance claims denied this year. But why?
The Top 4 Reasons Travel Insurance Claims Are Denied:
1. Minor Inconveniences: The traveler was inconvenienced, but their trip wasnโt completely interrupted.
2. Lack of Documentation: The traveler didnโt have the required paperwork, such as receipts, to support their claim.
3. Policy Limitations: The issue the traveler faced wasnโt covered under the policy they purchased.
4. Pre-existing Medical Conditions: The traveler had a medical condition that was excluded from coverage.
According to Margie Jordan, CEO of Jordan Executive Travel, itโs crucial to fully understand your policy and be aware of whatโs covered and whatโs not.
โA travel insurance company looks closely at the policyโs details, and when it comes to gray areas, thatโs where denials can happen,โ Jordan explains.
She stresses the importance of reading the fine print to avoid surprises. For example, missing a cruise departure can be a common issue, especially if travelers fly in the day their cruise departs.
Jordan recommends arriving the night before to avoid complications.
โIf you miss the ship, your policy might require you to make efforts to catch up with the cruise. They may cover the expenses for you to catch up, but if you choose to just go home, youโll likely lose the cost of the cruise completely,โ Jordan warns.
Jordan advises that if youโre traveling internationally, travel insurance is a must.
For domestic trips, she suggests carefully weighing your options. Additionally, if you plan to engage in physical or adventurous activities, like extreme sports or hiking, you may need special coverage.
โIf youโre doing anything extreme, whether itโs hiking Mount Everest or something similar, youโll need a different type of policy. It wonโt be your standard coverage. Make sure your insurance company knows what youโre planning to do, so you arenโt left with a denied claim,โ Jordan adds.
Understanding the nuances of travel insurance can help you avoid costly mistakes. Before your next trip, be sure to choose a policy that aligns with your travel plans and needs.
