Is travel insurance essential? This is a question to which you would like to answer clearly and without doing anything stupid, before going on holiday abroad. To allow you to make an informed decision, here are a Top 10 of the main ideas received on travel insurance and the answers to your various questions.
1. No need for travel insurance, I already have the one with my bank card
Not quite true.
For this insurance to be effective, your trip must first be paid for with your credit card. This trip may not exceed 90 days. In this case, it must also be taken into account that cancellation, baggage, and liability guarantees are very often absent from conventional card contracts.
Concerning medical expenses, it should be noted that care, as well as hospitalizations, have a reimbursement limit of 11,000 euros for a classic card (100,000 to 150,000 euros for a premium card). This amount quickly proved insufficient given the prices of hospital days in some countries. This is the case in the United States, Japan, and Australia, for example. Appendicitis in the United States can cost up to 20,000 euros.
2. Why take out a travel insurance policy, Social Security will reimburse me in case of a glitch
Not quite true.
In the case of a trip to Europe, if you have the European Health Insurance Card (EHIC), the medical costs will be covered by the Social Security, according to its rates and scales, regardless of the amount of care charged. It, therefore, seems appropriate to take out a travel insurance contract that will complement this first refund.
When your trip takes place outside Europe, no more questions to ask, Social Security is not required to make a refund. In such cases, travel insurance is a necessity!
3. Travel insurance, an unnecessary expense, my trip already costing me quite a lot
4. I’ll buy travel insurance if I get sick
No, unfortunately, it doesn’t work that way! On the part of any insurance company, you will never be insured for illness before the contract. Similarly, if you are granted a contract subscription while you are already traveling abroad, a waiting period will be applied.
5. The more expensive the insurance, the more it will cover me
Not quite true.
This is not always the case. The right insurance policy is the one that fits with your needs and that doesn’t necessarily mean prohibitive price. It’s up to you to define your needs and compare them with travel insurance offers, to determine which one is best for you. Often it’s not the most expensive!
6. As much as taking out cheap insurance, the guarantees are always the same.
Not quite true
Indeed, the main guarantees of a travel insurance contract are almost always the same. What will make the difference are the caps on guarantees, deductibles, and exclusions from the contract? Also, in the assistance section, many guarantees can be offered to you, different depending on the contract, and again with more or less high support amounts depending on the case. Again, it’s up to you to dissect the warranties to find the ones that best suit you at the best price.
7. I don’t do any risky sports, I don’t need travel insurance
It’s not just skiing that you can break an arm or a leg. An accident can occur when you least expect it. Slide down the stairs, cause food poisoning… accidents or illnesses occur much more often in everyday life than during risky activities. And when that happens abroad, everything immediately becomes much more complicated. That’s when you’re really happy to be able to reach your assistant by phone, who’s going to take care of all the problems.
8. No need to take out a cancellation contract, the travel agency will refund me if I don’t leave
Not quite true.!
9. I am going to a country where the cost of living is low, in case of concern I will be able to take care of the expenses at my expense
If you travel to a developing country and become ill or have an accident, you will be redirected to private clinics, the only facilities with quality care. And then you will soon realize that the fees are nothing like what you might have imagined. For example, the treatment of gastroenteritis in Vietnam will cost you around €3,000.
10. Insurers are thieves, they never payout anyway.
If you don’t want to have any surprises, it’s best to read all the guarantees of the contract and especially the exclusions, deductibles and guarantee caps. At ACS, there are no small lines in the contracts and all exclusions are printed in bold. You can’t miss them!
That’s it, travel insurance should no longer be a secret for you. If, however, you have some doubts, please let your insurer know. It is there above all to inform you and advise you. Good trip!