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What is travel insurance?
Travelling is always fun and a great way of coping with stress and along with various opportunities that it provides you with. But travelling too doesn’t come without any cons. There are so many things that can become a burden to you and spoil your mood during the vacation.
A travel insurance policy secures us against various things that might hinder our peace of mind while we are travelling.
It gives you security and financial assistance during the time of medical emergency or events such as flight cancellation, loss or replacement of baggage, passport etc. so whether you are travelling with family, with friends, for the purpose of studies or for business, it is highly suggested that you should buy a travel insurance before embarking in, on a new journey.
Here are a few things that you must keep in mind when you are investing in a travel insurance plan.
- No Extra Cost for Pre-Existing Diseases
- Covers for Passport and Baggage l Loss
- Personal Accident and Liability Covered
- Quick Claim Reimbursement with Cashless Options
Different types of travel insurance
There are several types of insurances available that give you all the benefits and advantages that you require. Travel plans and policy offer coverage against all possible emergency situations during transit.
- Domestic Travel insurance: it is meant for travellers who are travelling within the country itself. You get the coverage against the flight delays, cancellation, lost or stolen baggage etc within the country itself.
- International Travel insurance: it is a protection that you get against a number of contingencies, that might arrive when you are travelling overseas. It is a comprehensive cover for medical expenses that might arise overseas, hijack, baggage and travel delays, repatriations/evacuation to India, and loss of travel documents/passport besides the usual coverage.
- Medical travel insurance: it is a short term medical insurance plan that to cover specifically the health care and medical expenses incurred such as medical emergency and evacuation etc while you are travelling abroad. What is included and excluded in this plan depends entirely on the insurance provider that you are buying the policy from.
- Student travel Insurance: it is a plan that requires minimum paperwork. It is for those students who are travelling to different country on student visas to pursue higher education. It is a comprehensive cover that provides for any medical emergencies incurred, loss of baggage, passport and study interruptions.
- Group travel insurance: a travel insurance that is taken for a group of people who are not related to each other through blood, is a group travel insurance. It saves a lot of amount of money as it covers a group of people who are usually travelling to participate in activity or competition abroad.
- Senior Citizen travel plan: it is a plan that covers dental treatment and cashless hospitalisation among the usual benefits that a travel insurance provides. It is supposed to cover the people who are in the 61-70 age group, so that they have a pleasant travelling experience and nothing disturbs them at there age.
- Family travel insurance: This plan covers hospitalisation (travel medical insurance), baggage loss, and other incidental expenses. The claim disbursement is easy with minimal paperwork involved. It covers the family of the insured individual from any emergencies that might arise.
- Single trip travel plan: Single trip policy is good for one-time travellers. The maximum of 180 days these policies can last for, however, your travel insurance policy can also be extended post a humble request to the insurer.
- Multiple travel insurance: This policy is ideal for frequent travellers or globetrotters. It’s valid for making several trips during the year, each one ranging from 30-45 days. You have the option to choose the coverage and the type of plan basis your needs.
- Corporate travel insurance: Under corporate travel insurance India, employees of an organisation can get coverage for both international and domestic trips.
Advantages of travel insurance plan
- Legal liability and expenses: in addition to coverage for medical and accommodation expenses, travel insurance policies, also give you legal liability and covers your legal expenses.
- Medical emergency and hospitalisation: your travel policy that bears the expenses, including hospitalisation or medical treatment for bodily injuries, ambulance fee, etc. Because certain things come unannounced and thus travel insurance policy takes care of all your medical emergencies.
- Compensation for flight issues: A travel policy provides you with compensation in certain cases, including flight delay or cancellation. This usually is covered in the case of travelling abroad. You will be provided with accommodation during the waiting period.
- Travel & Accommodation: Any emergency causing trip termination or delay is typically covered by travel plan. In the meanwhile, expenses arising out of hotel accommodation, in-between transportation, air ambulance (if required due to a medical emergency), etc. are settled under the coverage of your travel policy.
Reasons to buy travel insurance:
- Provides coverage against many health related emergencies
- It is mandatory in some countries
- Covers for even the dental emergencies
- Coverage in remote areas
- You can claim your flight cancellation or reschedule of flights
- Replacement or loss of baggage and passport
- Emergency assistance
- Coverage for the entire family
- Personal liability cover
Inclusions under travel insurance plan
|International Travel Plans||Student Travel Plans||Family Travel Insurance Plans||Corporate Travel Insurance Plans||Senior Citizen Travel Insurance Plans|
Exclusions under travel insurance plan
- Flights/trains missed due to local protests/civil war
- Expenses incurred due to local protests/civil unrest
- Pre-existing conditions leading to hospitalisation
- Baggage delay that is less than 24 hours
- Damage/loss of keys
It is important to note that both inclusions and exclusions differ from policy to policy. Compare all the plans online before you buy.
Eligibility criteria of a travel insurance plan
- Family Travel Insurance Plans: These travel policies cater to 2 adults up to 60 years of age and their 2 children up to 21 years of age. One can enjoy floater benefits with family travel policies.
- Student Travel Insurance Plans: Generally, most of the travel plans caters to students between 16 to 40 years of age who’ve enrolled themselves in an institution abroad for their higher education. Existing Indian students who are at a foreign university qualify to buy a student travel plan.
- Senior Citizen Travel Insurance Plan: Elderly individuals up to 85 years of age don’t need to undergo any medical screening to purchase a senior citizen travel plan