Choosing car or travel insurance is an important step for financial security and personal peace of mind. However, many customers make mistakes that can significantly reduce the effectiveness of the policy or lead to unpleasant situations exactly when a problem occurs. Whether we are talking about car insurance (RCA, international RCA) or travel insurance, proper information is essential, especially for customers in the Republic of Moldova.
1. Choosing insurance based only on price
One of the most common mistakes is selecting a policy solely based on the lowest price. Although cost is important, very cheap insurance may have:
- low compensation limits;
- many exclusions;
- poor assistance services;
- slow claims settlement processes.
A good policy should be evaluated based on the balance between price and coverage, not just the amount.
2. Not understanding the covered risks
Many insured people do not read or fully understand what the policy actually covers. For example:
- RCA does not cover damage to your own vehicle;
- international RCA does not cover the driver’s personal expenses;
- travel insurance does not automatically include all sports activities.
This lack of information often leads to unrealistic expectations and dissatisfaction when an insured event occurs.
3. Ignoring policy exclusions
Every insurance policy has a clear list of exclusions, but these are often overlooked. Among the most common exclusions are:
- pre-existing medical conditions;
- accidents caused under the influence of alcohol or prohibited substances;
- high-risk activities;
- using the vehicle for purposes other than those declared.
Knowing these exclusions is crucial to avoid claim denial.
4. Entering incorrect data
Another frequent mistake, especially with online purchases, is completing the details incorrectly:
- license plate number;
- chassis/VIN number;
- coverage period;
- personal details of the insured.
Even a small error can invalidate the policy or delay the compensation process.
5. Choosing an unsuitable insurance period
Some drivers or travelers choose an insurance period that is too short, without considering:
- possible travel delays;
- extension of the stay;
- occasional use of the vehicle.
It is important that the insurance is valid for the entire period during which there is risk.
6. Assuming one insurance policy is enough
Another common mistake is believing that a single policy provides complete protection. For example:
- RCA does not replace CASCO;
- international RCA does not substitute travel insurance;
- travel insurance does not cover vehicle damage.
For full protection, it is sometimes necessary to combine several types of insurance.
7. Not keeping documents easily accessible
Many insured people do not keep the policy or the insurer’s contact details handy. In emergency situations, this can lead to:
- delays in receiving assistance;
- difficulties in reporting the incident;
- loss of compensation rights.
It is recommended to store documents digitally and keep them quickly accessible.
8. Failing to promptly notify the insured event
In the case of an accident or medical emergency, delaying notification to the insurer may affect the right to compensation. Most policies specify clear deadlines for reporting events.
Respecting these deadlines is essential for a favorable claim resolution.
Conclusion
Choosing car or travel insurance should not be treated superficially. Proper information, attention to detail, and selecting a policy tailored to real needs are the keys to effective protection.
By avoiding these common mistakes, you ensure that your policy will work exactly when you need it most.
