3 Details in Your Travel Insurance Policy to Pay Attention
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Your travel insurance policy is a legal contract that protects you and your loved ones when travelling abroad. Your plan type, cover limits and exclusions are all listed within your policy document provided by your travel insurance provider.
That’s why it’s important to go through the fine prints and understand the terms of your travel insurance policy. Otherwise, you could risk your travel insurance claim being rejected or denied because of some minor detail you may have missed.
These pitfalls can be easily avoided by understanding your travel insurance policy, and knowing what to look out for. Here are 3 conditions of your travel insurance policy that you should pay attention to:
1. Coverage for Trip Cancellation
Firstly, ensure you understand when you can make a claim for a cancelled trip, and what situations are not covered. For example, DirectAsia’s standard travel insurance policy covers trips cancelled due sudden illness or death of the travel companion or the immediate family member which is preventing you from proceeding on your trip prior to 30 days before your travel date.
What about trip disruption or cancellation due to COVID-19? You can get the optional COVID-19 travel cover, which covers you for irrecoverable travel fees – up to your cover limit – that you have already paid or yet to pay for, at the time of cancellation.. This coverage begins 30 days before your travel date, so you are covered well in advance, in case of any emergencies.
For this COVID-19 optional benefit, you’ll be covered for unused, economy-class transportation expenses and any reasonable standard room hotel costs if your trip is unavoidably disrupted due to one of these reasons:
- You or your travel buddy is diagnosed with COVID-19 and declared not fit to travel by a certified doctor.
- You or your travel buddy is under quarantine order and the quarantine period overlaps with the trip start date.
- An immediate family member is diagnosed with COVID-19 and you are advised not to travel.
- Your immediate family member is diagnosed with COVID-19 and confined in ICU at a hospital.
2. Policy Exclusions
All insurance policies have certain exclusions which could differ from insurers. DirectAsia’s travel insurance policy wording has a section titled ‘General Exclusions’ that lists out situations in which you’re not covered and hence, it will be good to understand them.
The exclusions are listed very specifically, for example, the policy reads that you will not be covered for events that arise directly or indirectly due to a deliberate, criminal or unlawful act by you or anyone acting on your behalf. Or…
- If there are a set of circumstances which you knew about or ought to have known at the time the trip was booked or
- When you purchased this policy (whichever is later) that results in a claim or
- Have a pre-existing medical condition that was not declared.
However, you should check with your insurer if you’re unsure of any details.
3. Insufficient Documentation
Finally, always keep in mind that you will need to submit sufficient paperwork to claim reimbursement for any medical emergency during the trip or cancellation of a trip such as:
- Transport confirmation document and payment records
- Accommodation booking confirmation documents and payment records
- Transport departure and arrival tickets and slips
- All related bills and receipt incurred to be claimed
- All medical reports and test results documents
- Other documents that the insurers specify or requires for claim submission
The claim process is sometimes delayed because there could be incomplete documentation pending from the policy holder. Do take note that there is a required time to notify your insurer of a claim which is usually 30 days from the event. So, the more all-encompassing your documents are, the faster you can submit all important documentation – including booking confirmations, transportation receipts, medical bills, etc – and the faster your claim can be reviewed.
Also, remember that trip cancellations must be under the recommendation of a certified specialist. So, you’ll need to submit an official letter from your doctor to your Claims Specialist.
Your travel insurance policy outlines the various documents you’ll need to submit to your insurer, according to what you intend to claim for.
Read and Understand Every Detail of Your Policy
Purchasing travel insurance is important and you should have the peace of mind that you’re covered for what you’re paying for. Take note of these 3 vital details within your policy and ensure you read through the fine print of your policy document.
Get in touch with your insurer if you need further clarification on these clauses or any part of your travel insurance policy. You can request for a direct quote or call us at +65 6665 5555 for further enquiries.