Don’t Despair over an Unexpected Delay with Travel Insurance

Emergencies can happen in a blink of an eye while abroad. You can fall down the steep stone stairs of the Colosseum and wrench your ankle. Your airline can lose your checked luggage, leaving you with just the clothes on your back for a two-week trip in southeast Asia. Someone can crash into your bumper in a busy roundabout in Portugal. 

When you have travel insurance to help with these vacation mishaps, you expect it to kick-in just as quickly as your emergency unfolds. Unfortunately, extensive red tape can delay your insurance company’s response time. 

What to Do if You’re Dealing with Your Emergency Right Now?

Stuck in a foreign town, dealing with a medical emergency, and without the cash to cover your bill — now that’s a recipe for stress. 

Try to stay calm — most international hospitals can understand you might not be able to pay their bills right away. In fact, they may even take down your information to send this bill to your home address, giving you ample time to pay. 

In extreme cases, you might be expected to pay your unexpected expense right away. If you can’t transfer money or get a loved one to help, online personal loans have a quick application that might work under your tight timeline. 

If you choose to use an online personal loan to bridge the gap until your insurance claim comes through, you’ll want to make sure you have a plan to pay it back. Check out these tips to help avoid loan default before you borrow. They include proactive financial planning advice and responsible borrowing practices to help you get in the best mindset for taking out a personal loan. 

Why is Your Claim Taking a Lot of Time?

Most travel insurance companies take roughly two business weeks to process your claim. They do this to ensure all the information is correct and you have submitted the appropriate support documents. The good news is that, after those 10 days, most people receive their payment. According to the CBC, less than one percent of personal travel claims are denied. 

Insurance agents check your claim to ensure all the information adds up. Any errors or discrepancies in this information can prolong the time it takes to process your claim — even if it’s a simple typo in your name or home address. 

Other possible issues that may draw out the process include the following mistakes:

• Missing supporting documentation or information.
• Inconsistencies in paperwork regarding locations, accommodations, dates, or time.
• Incorrect policy or bank account numbers.

In these cases, your insurers may reach out to clarify these issues and ask that you resubmit with the correct documents or information. 

Delays may also occur depending on the method you choose to send and receive your claim. If you opt to file your claim by mail or fax, it could take longer than claims sent over email. If you choose to receive a physical check as payment, you have to add on the time it takes the postal system to deliver your mail. 

The Takeaway: Read the Fine Print

Delays are in the details. That’s why it’s so important to read the fine print of your policy. This way, you can know exactly what you have, what you need to submit, and your insurer’s timing.