There is an increasing trend of travelling among people whether it for business, studies or pleasure. But an increase in the rate of travel and number of travellers has also lead to an increase in the occurrence of multiple travel related risks. This could range from baggage loss, flight cancellation, medical emergencies, etc.
Every Benefits travel insurance Covered
Unforeseen emergencies in the foreign land could run you in major inconvenience and you have to incur huge costs. Hence, travel insurance becomes inevitable while travelling as it will ensure that your trip goes smoothly and without much inconvenience.
Luggage Protection Cover
Insurers provide travel insurance to cover incidences of loss or theft. In addition, some even provide travel assistance in the form of legal advice, facilitating emergency cash transfers, among others.
This cover is very important as if you suddenly find yourself in any medical emergency in the foreign land, it becomes very difficult to arrange money as their cost of medical care is very high. Therefore, in such a situation travel insurance plan comes in handy in such a difficult situation. It provides cover for in/outpatient hospitalisation along with daily allowance. And if the person travelling is a student then they certainly need to be insured against medical exigencies such as trips to the emergency room, provide dentists, and so on. Some insurers also provide coverage to protect against high-cost situations.
In some situations, it may happen that a trip needs to be cancelled at the last minute. In such circumstances, the traveller is left to foot the bill for hotel and flight cancellation charges and so on. Travel insurance provides you coverage against costs incurred due to transit delays and so on.
Personal Accident Cover
It provides cover against permanent disability/death.
Types of Travel Insurance
Domestic Travel Insurance
This type of travel insurance is meant for people within the ages of 18-65 years who are travelling within the country. The policy will provide protection against loss of tickets, travel documents, flight delays and so on. It also covers emergency medical costs.
Corporate Travel Insurance:
Corporate or business travel insurance is for those who send their employees to domestic or international business trips.
International Travel Insurance
It is for people travelling abroad. It provides coverage against baggage loss, travel delays, loss of important travel documents, and cost of repatriation if necessary, among others. It also assists policyholders during extreme circumstances like hijackings and high-risk medical emergencies. These would cover basic scenarios like medical and dental costs in addition to accidental injury expenses, baggage loss expenses, etc.
Student Travel Insurance
The number of students travelling abroad has increased tremendously in recent years. Since they travel out of the country for extended periods of time, it makes them a demographic most vulnerable to various emergencies. Hence, it is imperative for every student to buy travel insurance before embarking on their trip. Also, some international universities make it mandatory to have travel insurance for their students. Travel insurance policy will cover the expenses incurred for passport loss, study interruptions and medical treatment.
Senior Citizen Travel Insurance:
It covers people between 61-70 years of age for cashless hospitalisation and other inclusions that come with travel insurance.
Individual Travel Insurance:
It provides coverage against cancellation of the trip, home burglary and trip curtailment.
Family Travel Insurance:
It provides coverage for the entire family under a single policy, including spouse and children. It provides coverage against accidents, baggage loss, flight delay and incidental expenses for any family member.
Single-Trip Travel Insurance
It extends the coverage for a certain period of a single trip. It offers protection against various travel risks like flight delay, baggage loss, medical emergencies, loss of passport, etc.
Multi-Trip Travel Insurance:
If you are a frequent flyer, then you should opt for this policy as it saves you from hassles of buying a policy every time you travel. It provides extended coverage, generally for a year.
Exclusions in Travel Insurance
Travel insurance excludes flights/ trains missed due to local protests/civil war.
Expenses incurred due to local protests/civil unrest.
It also excludes pre-existing diseases leading to hospitalisation.
Baggage delay that is less than 24 hours is also excluded.
It also excludes damage/loss of keys.
However, inclusions and exclusions may differ from plan to plan. Therefore, it is important that you compare all plans and buy that suits your requirements.
So, before zeroing-in on any travel insurance plan, compare all plans so that you can not only buy the best plan fulfilling your requirements but also can save a lot of money.
To make sure that your trip doesn’t get spoiled due to unforeseen situations and become awful, do not forget to buy a travel insurance plan before going on a trip. A good travel insurance plan will make sure that you go with complete peace of mind and don’t face any problem in the unknown land.