“Don’t take any chances, be prepared for the worse.”
That is a great rule of thumb to follow. Take the time to sift through various travel insurance policies to see which is best for you and your family. With MoneySmart, it is now much easier to find the best travel insurance in Hong Kong.
What does travel insurance cover?
Travel insurance can cover the following few circumstances:
- Unexpected injuries or illness - in case of an unexpected injury or sudden illness while overseas, you can be covered for necessary doctors and hospital visits
- Unexpected accidents - from the day your policy is activated, you can be covered for any unanticipated accidents and injury
- Trip-related issues- you can also expect coverage for situations such as canceled or delayed flights, loss of baggage or personal items and occasionally, loss of mobile devices
Even if you’re planning on high-risk sports activities on your next big travel vacation, finding the right policy that gives you the best coverage is critical so as to cover personal liability issues.
Speaking of high-risk sports activities, do look out for exclusions from certain insurance providers. Some insurance companies may exclude specific events or activities from their travel coverage plans. Those exclusions include:
- Pregnancy and related issues like childbirth, illness, Etc.
- Military events, for example, riots, war, revolution, and more
- Pre-existing conditions and STDs
- Suicide and the failure to take the proper steps to protect you and your family from harm
- Unattended suitcases, mobile devices, and other belongings
- Professional sports and other high-risk activities
- Non-prescription medical or alcohol events
Remember to inform the insurer of all your pre-existing conditions so they can find the right travel insurance policy for you and your family. Also, make sure they know what prescription medications you are taking and any doctor’s orders to avoid having these exclusions apply to you.
When to buy travel insurance?
While many assume that it is acceptable to purchase travel insurance while on your trip, do note that it is actually recommended to purchase travel insurance prior to leaving for your trip.
To maximise your coverage, purchase your travel insurance immediately or even before booking your flight and hotel accommodation. This will ensure you are even covered for last-minute flight delays or cancellations.
How to make a claim
In the case that you need to file a claim, knowing how to do so is a pertinent step in the process. Not every insurance company accepts claims the same way, but the following information will get you on the right path to a successful claim.
#1. Don’t delay - most companies typically expect you to file a claim within 30 days of the event
#2. Keep original documents - these include:
- Receipts for lost or stolen items
- The boarding pass for delayed flights
- Booking Invoices from Travel sites for canceled trips
- Hospital or Doctor’s bills for medical claims
- Police reports for theft
#3. Get written verification - these will typically come from your hotel or airlines. These signed notes will verify that your trip was interrupted and that you had problems connecting to flights or staying at your hotel. These verification documents help the claim move smoothly.
#4. Get pre-approval - call the insurer when you have a non-emergency medical situation. Pre-approval cuts down on your claim rejection chances.
#5. Call the police quickly- do not delay and report the theft of personal items, baggage, Etc. Get them to fill out a police report and get a copy.
#6. Finally, submit all documents to your travel insurance company with your claim form.
Where to buy travel insurance?
This can be confusing as insurance companies use different advertising and purchase methods. For example, some will use the local ATM or banks, while others want you to visit their offices or contact their salesperson directly.
Or you may find they use airlines, hotels, travel agencies, and other means to help you buy travel insurance. These methods to purchase can be complicated as you may not know exactly what type of plan you require.
That is where MoneySmart can assist - visit the website for an easy and clear comparison of various travel insurance plans. Save your time, energy, and money by exploring the best combinations of coverage for your needs and travel plans. Finding the perfect coverage plan for your upcoming travel arrangements couldn't be more simple. Additionally, MoneySmart can help you determine if you need a single trip, annual trip, or family trip coverage.
Take the guesswork out of travel insurance and explore MoneySmart today.
