Mumbai, Maharashtra, India:
Zurich Kotak General Insurance, uncovers the top 5 travel insurance myths and
provides with the facts you need to know. Are you planning a trip abroad? If
so, you're likely considering purchasing travel insurance to protect yourself
against unexpected medical or travel-related expenses. However, with so many
myths and misconceptions surrounding travel insurance, it can be difficult to
know what to believe.
Uncovering the top 5 travel insurance myths
Myth 1: Travel insurance covers everything
A common myth is that travel insurance
covers everything. While travel insurance can provide comprehensive coverage
for many unexpected expenses, it's not a blanket policy that covers every
possible scenario.
In reality
Travel insurance policies typically have
specific exclusions and limitations to high-risk countries. It's important to
carefully read and understand your policy's terms and conditions to know what
is and isn't covered.
Myth 2: Travel insurance is too expensive
Many people believe that travel insurance
is too expensive and not worth the cost. However, the cost of travel insurance
is typically a small fraction of the overall cost of your trip.
In reality
Travel insurance can provide significant
financial protection in the event of unexpected expenses. For example, if
you're hospitalised abroad, travel insurance can help cover the cost of medical
treatment, which can be extremely expensive.
Myth 3: Travel insurance is only for elder
travellers
Some people believe that travel insurance
is only necessary for elder travellers. However, this couldn’t be further from
the truth. Travel insurance can provide valuable protection for travellers of
all ages.
In reality
Unexpected medical or travel-related
expenses can happen to anyone, regardless of age or health. Travel insurance
can provide peace of mind and financial protection in the event of unexpected
expenses whether you’re a young backpacker or a family on vacation.
Myth 4: Travel insurance can be purchased
at any time
Some people believe that travel insurance
can be purchased at any time, even after your trip has begun. However, this is
not the case.
In reality
Travel insurance policies must be purchased
before your trip begins. Some countries may also have mandatory requirements
for purchasing travel insurance before arriving in their countries.
Myth 5: Travel insurance is not necessary
for short trips
Finally, some people believe that travel
insurance is not necessary for short trips. However, this couldn't be further
from the truth. Even short trips can be disrupted by unexpected events, such as
flight cancellations, medical emergencies or loss/delay of checked-in baggage.
In reality
Travel insurance can provide valuable
protection for short trips, including coverage for trip cancellations, medical
emergencies, and loss/delay of checked-in baggage.
The final note
Travel insurance is an important component
of any trip, providing financial protection and peace of mind in the event of
unexpected expenses. By uncovering these common myths, we hope to have provided
you with a better understanding of what travel insurance can and cannot do. Understanding
these facts about travel insurance can help you to take the right decision
about your travel plans and ensure a safe and enjoyable trip.
About Zurich Kotak General Insurance
Company (India) Limited (Formerly known as Kotak Mahindra General Insurance
Company Limited)
Zurich
Kotak General Insurance Company (India) Limited is a 70:30 joint venture
between Zurich Insurance Group and Kotak Mahindra Bank. The Company got its new
name ‘’Zurich Kotak General Insurance Company (India) Limited’’ in the
month of August 2024, following Zurich Insurance Group’s 70% acquisition in
Kotak Mahindra General Insurance Company Limited. It is the youngest and one of
the fastest growing non-life insurance franchises in India.
Kotak
General Insurance was established in 2015 to service the growing non-life
insurance segment in India. The company aims to cater to a wide range of
customer segments & geographies offering an array of non-life insurance
products like Motor, Health, Home etc. As a practice, the company seeks to
provide a differentiated value proposition through customized products and
services leveraging state of art technology and digital infrastructure.