Most people don’t actually check the terms and conditions of travel insurance when they buy it; they glance at the cost, the broad strokes of what is covered, and the amounts for payouts. And for the majority of people, that’s the last they need to look it, as they never need to claim.
But this means you don’t actually really know what you’ve purchased, and in the event of you needing to make a claim, it’s the bits hidden in the terms and conditions that you skipped or weren’t the selling points that will cause a problem down the line.
This post is going to look at what your policy actually covers and what it doesn’t.
Cancellation for Named Reasons, Not Any Reason
This is a really important distinction to make. A policy with trip cancellation does not include any and every reason you need to cancel. So, just going ahead and cancelling it, then expecting a refund, is likely going to lose you money
Covered reasons will be explicitly listed in the policy and typically cover things like documented illnesses certified by a physician, preventing travel. Death of an immediate family member and named weather events.
Simply deciding not to travel due to news coverage of unrest or a forecast you don’t like, or a scheduling conflict won’t be covered.
Medical Cost on Per-Person Limit Not a Location-Specific Amount
Medical care costs vary from country to country. The emergency medical cover on your policy might not be enough to cover more extensive care in certain countries like Japan, Switzerland, or Norway. These regularly produce large bills for foreign travellers. A policy that maxes out at $25,000 per person might not be enough to cover extensive medical care if you need it, compared to countries where it’s not quite as expensive.
Pre-Existing Conditions Need a Waiver
If you want to be covered for a pre-existing condition, then you need to get a waiver so these won’t be included for medical care should you need it when traveling. Exactly what will and won’t be covered will be specified by your provider, and companies like Generali will have clear rules and guidelines regarding existing conditions when you travel.
You do need to declare all health conditions, even if they are managed, including if you are using HRT for peri menopause or menopause, or you’ve been diagnosed with hypertension, even if you don’t take any medication for it. This can impact your ability to make a valid claim and get paid if you don’t declare or get a waiver for them.
Baggage Coverage is Per Item, Not Bag
Lost baggage reimbursement is capped per individual item, not per bag. A bag that contains a laptop, tablet device, prescription medication, or equipment and clothing is not covered as a single loss at the bag’s total value.
Each item will be assessed against the per-item limit, which generally comes in below market price for most electronics. High-value items worth more than the per-item cap may need to be scheduled separately on the policy or under a separate policy to cover the full cost. This is especially important for business travellers when equipment falls outside what is covered and is classed as expected use on personal policies.
