Bring up the term “travel insurance,” and frugal travelers will give you a mixed bag of opinions. Some swear by the third-party travel insurance that saved them during an emergency while traveling, others cite the merits of travel insurance from their favorite credit cards, like the Chase Sapphire Preferred. Many more will share their personal frustrations with travel insurance, recalling how they were promised coverage that never came through in the end.
Although a travel insurance policy can provide coverage in the event of an emergency, it can only do so to the extent of its own terms. Each policy is different, offering varying levels of coverage under very specific circumstances. Are you prepared to get the most out of your travel insurance policy in the worst case scenario? Here’s how:
Know Your Travel Insurance Policy Better Than the Broker
In order for a travel insurance policy to work, those covered need to do their homework before making a purchase. This requires a thorough understand what is and is not covered under a travel insurance policy and when it comes into play.
While a policy may say it covers trip cancellation or baggage delay, those situations are subject to very strict requirements. Before making plans with these benefits in mind, be sure to understand how those benefits are triggered. As an example: many travel insurance policies cover baggage loss, but only if that bag is delayed for 12 hours.
Document Everything Leading Up to Your Claim
If you believe your situation qualifies for a claim, the next step is to document everything that leads into your claim. This does not just include saving receipts of purchases made for reimbursement, but rather everything leading into your situation.
Start with the facts and circumstances revolving around your claim. This should include when the situation began, the steps you took to resolve the situation, who handled your resolution attempts (either at the airport, through a call center, or on social media) and any associated tracking or report numbers. Having a physical copy of any report can also be helpful in filing claims.
From there, be prudent in what you purchase with hopes to claim later. While a hotel room and meals may be covered under a trip delay benefit, other items may be limited. In many travel insurance policies, travelers can only claim one phone charger per traveler, despite the total benefit allowance.
Claim Today, and Prepare to Appeal Tomorrow
With the claim form, documentation and receipts ready, travelers are prepared to file for a successful travel insurance benefit redemption. Fill out each form completely, providing details from the notes you kept above. If approved, travelers should receive reimbursement for their claim within a set amount of time – usually 90 days.
What happens if your claim is denied? If travelers believe they have a valid claim based on the terms and conditions of their plan, there are avenues of appeal available. Travelers can often appeal their claim internally with their company for further review, with the hope of a reversal. If that does not pan out, other options are available, including appealing through a third party (like the Better Business Bureau), all the way up to a state insurance office.
While travel insurance can be a boon to help travelers in the worst case scenario, it can only work when travelers prepare accordingly. By knowing how to file a proper claim, adventures can remain frugal, no matter what happens along the way.
How have you successfully handled your travel insurance claim process? Let us know how you manage it in the comments below!
Written by Frugal Travel Guy @ http://www.frugaltravelguy.com
Written by Frugal Travel Guy @ http://www.frugaltravelguy.com