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Focus Issue: National Insurance Day: Things to know before buying travel insurance

JP/Zul Trio AnggonoAn overseas trip, either for business or for pleasure, is something many of us look forward to

The Jakarta Post
Wed, October 18, 2017

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Focus Issue: National Insurance Day: Things to know before buying travel insurance

JP/Zul Trio Anggono

An overseas trip, either for business or for pleasure, is something many of us look forward to.  But whether you are traveling alone or with family, it is advisable that you cover all the bases in terms of knowing the risks of a long-distance trip, including in the case of accidents, delayed flights, loss of important documents or baggage, among others.

One thing you can do to mitigate any problem during a trip is getting a travel insurance policy. Nevertheless, you need to be aware of all aspects, the good and the bad, before settling on a travel insurance product because it can affect you and your trip.

As there are many insurance companies offering travel insurance packages, pay attention to these pointers before choosing your travel insurance policy.

 What you need

Choose a travel insurance policy that offers the type of service you need. If you need health coverage, choose one with facilities that correspond to the type of trip you are taking. You can also opt for one that offers property protection, baggage protection and protection against accidents. Consider also the number of people you are traveling with so that you can calculate the premium.

 Details of the premium 

A customer is required to know the details of the premium an insurance company offers. Travel insurance holders are required to fully understand what the insurance company covers. Make sure you ask the company to explain anything you don’t understand.

Know the difference between a life insurance and travel insurance; don’t buy the same type of policy as the one you already have. Check whether the travel insurance is valid for a domestic trip only or for an international trip also; whether it is for Haj or umrah , or if it is for overseas students.

 Time limit of your policy

It’s advisable to choose a travel insurance policy with a time period similar to the length of your travel. The insurance policy should cover even the direst risks as you are traveling. Find out if the policy is valid for one week, two weeks, 100 days or other lengths of time. Also, you need to know if the policy is valid for one journey or more.

 Range of coverage

Choose a travel insurance policy that suits your destination and the range of activities you’ll be engaged in during the trip. If you are going on a trip that involves certain risks, some insurance companies may decide not to accept you as their customer. So, choose an insurance company that covers the type of trip you are taking, including the possible risks you may encounter during the trip, for instance, a type of extreme sport, a wildlife adventure or a trip to dangerous locations.

 Premium you need to pay

The premium you must pay varies depending on the company. The premiums offered for a travel insurance, however, are commonly less than the total cost of the trip, probably a small portion of the total cost. So, consider the amount you must pay based on the trip and the activities involved.

 Making a claim

When you are getting a travel insurance policy, you need to know all the facilities that come with it, including the claim. Choose an insurance company that is also a worldwide provider, because it would be easier for you to make a claim if something happens. Should you get into an accident during your trip, you need only to give your insurance card to the local medical facility.

 Limitation

Insurance companies will usually not cover any previously diagnosed health conditions.  You may want to try to hide your condition, but an insurance company can request that your health history record be presented, and any intention to hide information may lead to a rejection of your claim.

Hence, it is advisable that you provide all the information regarding your health from the beginning to avoid problems when making a claim. 

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