Travel insurance policies offer a free-look period. It typically applies to a new insurance policy and not to renewals. From the time you receive your policy documents, you have typically 10-15 days to review your policy with the option to make a change or ask for a refund. If you return the policy during this time, the insurer will pay the premium net of costs such as stamp duty and insurance for the days you were covered. There is likely a small processing fee if you terminate the policy. The free look-up policy is not widely known about and you’re probably not sure why you need it. Keep on reading to find out.
How to Use the Look-Up Period
These first 10-15 days are great for review of your policy. This is NOT the time to actually use the policy. If you make any claims during this period you forfeit your right to change or cancel the policy. What should you review? Double check your travel dates, cost of services, small policy details like coverage limits and trip protection, policy descriptions, and exclusions. If you see any mistakes that have been made, coverage details that don’t work for your trip, or find out that you can’t go on the trip, this is when you will do it. Call your insurance provider and let them know. You can switch policies, make changes to travel dates, or get a full refund.
What Happens After the Look-Up Period?
Once the look-up period has ended, the policy goes into full effect. You can begin to get treatment, make doctor’s appointments, pick up prescriptions, and enjoy your trip. Keep in mind that most disputes over claims are resolved just by reviewing the policy. So even if you are sure of your purchase, you should use the look-up period to get familiar with the policy. This will help you to feel prepared in the event of an emergency. The look-up period is also the time to go over your trip plans, any excursions you might be doing, and making sure that your travel arrangements match with your insurance. You will be thankful you took the time to get familiar with it all before you start to enjoy your trip.
The look-up period is basically a 15-day money back guarantee. If you are unsatisfied with your coverage in any way, you are able to change or drop within those 15 days. Now, this doesn’t mean that you can go to the doctor and have a claim paid and then cancel. No claims can be submitted before you cancel or change a policy. The look up period is simply for you to review.