Many travelers find themselves questioning, “Is Travelers Insurance Good?” after encountering negative reports, often stemming from denied claims. These denials frequently arise from unrealistic expectations or misunderstandings about what policies actually cover. To truly assess the value of travel insurance, it’s crucial to understand the specifics of your coverage and its limitations.
One frequently cited example involves claims denied due to exclusions like fraud or criminal activity, as in the case of “Carol now Retired.” While unfortunate for the defrauded individual and seemingly unfair, such exclusions are standard practice in insurance policies. Similarly, losses resulting from pandemics were commonly excluded, although many insurers now offer specific “covid coverage.” However, even with such add-ons, a thorough understanding of the included provisions is paramount.
Consider another instance where a traveler with “covid coverage” had their claim denied. This individual, on a Rick Steves tour, tested positive for COVID-19 and had to isolate, missing a portion of their tour. While they received a refund for the pro-rated cost of the lost tour days, their claim for additional lodging, food, and transportation expenses was denied. The reason? The insurance covered the cost of the tour, and since that cost was refunded for the missed days, there was no insured financial loss according to the policy terms. This highlights that even with seemingly comprehensive coverage, the specific details of what constitutes an “insured loss” are critical.
Therefore, carefully examining the policy and aligning it with your specific travel concerns is essential. Travel insurance isn’t inherently “good” or “bad”; its value depends entirely on whether it meets your individual needs and expectations.
On a positive note, many travelers have benefited from their policies. Experiences involving prompt claim payments for trip cancellations due to injury or illness of the traveler or their travel companions demonstrate the tangible benefits of travel insurance. These successful claims, such as those for trips within Canada insured with companies like Berkshire Hathaway, underscore that when policies align with actual needs and are clearly understood, travelers insurance can indeed be a valuable asset.
