Travel adds on new chapters in your life, stories that you would want to keep in your memories forever. So would you want to be prepared less for that next trip of yours which can give you a camera full of good memories? No! Right? Nor would you want to stay surrounded with tension. As we know that there are many things that can go unplanned or wrong when on a trip away from, therefore, make sure to grab your travel insurance along.
Travel insurance safeguards you and your belongings from those unforeseen troubles. Suppose you happen to be the victim of theft, document loss, baggage loss or god forbid some accident happens, you can make a claim after coming back home. This requires you to inform the insurer just after the incident happens and has to be quick so that you don’t face any problem at the time of filing the claim. Here are a few mistakes that you should avoid while making the claim:
Enquire about the network hospitals beforehand to get prepared for the medical emergency: If unfortunately, you face a serious medical emergency for which you have to be rushed to the hospital, then remember to inform your insurer before visiting the medical care facility. This would help you in finding the nearest network hospital in order to avail a cashless treatment. If there is an emergency where you didn’t get the time to inform the insurer then always keep your bills and documents ready for the reimbursement procedure. But it is always advisable to know about the network medical facilities beforehand. This effort should come in from the time you buy the policy. Notice the network hospitals listed under your policy carefully so that when you need them, you don’t have to spend the money initially from your pocket and get quality treatment at the nearest facility.
When to submit a claim: Generally there are no time limits/boundaries but it is always advisable to make a claim within the first 72 hours. The earlier you report, your procedure will become swifter. In a situation like a passport loss, flight cancellation or baggage loss, typically, the time slot of making claim is within 72 hours of landing back in the home country or state. If you fail to timely file a report, your insurer might consider it as the scenario of claim rejection.
Keep documents ready: If the belongings that are insured under your travel insurance get lost or damaged then do not forget to take property irregularity report (PIR) or any other report written by on-duty officials from the airline, from the police or any relevant authority depending upon the case or the situation. If you fail to inform the responsible authority, you may find difficult to avail your claim. Even in the situation where you have to get reimbursement, do not forget to maintain and organize every single bill of the procedure.
Focus on Deductible cost: Deductible is the amount that you have to bear before the insurance claim can be availed. Most of the time deductibles come as a part of the policy and are fixed for a specific sum assured which has to be paid by the insured. For example, if the plan has a deductible cost at Rs. 100, then you have to pay the first Rs. 100 out of your pocket and rest of the expenses would be incurred by your insurer. The deductible cost is decided at the time of buying the policy; keep in mind the cost of the deductible to be paid by you and the share, your insurance company has to pay. There might be a claim crunch from the end of the insurer and reason for this would be deductible cost. Therefore always make note of the amount of deductibles in your policy wordings and do not cringe or put the blame at the time of making claim. Staying attentive is what is required, either from the end of consumer or the insurer.
Under certain condition your claim would not be admissible: Insurance is an agreement of reciprocating good faith and hence it is always recommended to be honest with your insurer so that neither you nor your insurer feels cheated. Under certain conditions your claim might get rejected as well. For example, if there is any pre-existing medical condition which you haven’t mentioned about but want to avail claim for it, it is not possible. Your insurer must know about any PED so that they can inform you in return whether they include it under your policy or not. Another thing like baggage loss on your way back home will also not become a part of your claim assistance. Hence, play fair from the very beginning so that you won’t feel victimized at the time of availing your claim. Make note of the conditions that would require you to pay from your pocket.
Travelling can become the best part of anyone’s life. Be attentive while taking your travel insurance policy and similarly provide the best of your information to the insurer. Always travel smart, stay safe and insured!
— by Dhruv Sarin, Head of Health and Travel Insurance, Policybazaar.com
