Introductrion: Hi friends today we are here to help you with Travel insurance importance and other facts.
A step by step guide to Travel insurance importance
What is Travel Insurance?
It mainly covers all kinds of situations like accidental and sickness medical expenses, Baggage delay or loss, trip delay or cancellation, passport loss, emergency medical evacuation, missed flights and many more. Travel Insurance gives you protects you as a shield to ensure the insured traveler from incurring all his huge financial losses that you face during an unforeseen incident during their journey. It helps as helping hands and necessary financial assistance at a time irrespective of whether he/she is traveling within or outside India, which makes it more hassle-free and a safe trip. Few countries need compulsory travel insurance to travel. You need to know the below things in depth to know in detail about the Travel Insurance to make your trip the most wonderful memories during your trip.
Is Travel Insurance a must?
Eveybody should know travel insurance importance. Yes, travel insurance is a must for every traveler as it safeguards you in all the emergencies. The travel insurance is available for all the types of travelers like solo travelers, families, students and frequently traveling business travelers in this way travel insurance protects every one of all the ages from 6 months to 70 years. Apart from medical emergencies, travel insurance also protects and covers non-medical emergencies like flight delays, loss of important documents, personal liabilities, loss of checked-in baggage, trip cancellation or delay, etc. The best thing is that these types of travel insurance are available online nowadays making it convenient to avail for everyone.
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Key features of travel insurance policies
The basic purpose of travel insurance allows you to allow the insured traveling experience, you may go through the below features which makes you understand more clearly regarding the Travel Insurance-
Medical Treatment and emergency hospitalization
Nobody can expect medical emergencies while traveling, so by insuring your travel, you can stay with assured that your medical emergencies will be covered along with treatment expenses will be taken care of, where you can spend a hassle-free holiday.
Compensation to the flight-related things
The Travel Insurance assures you with the compensation of flight delays or missed flights or even the checked-in baggage lost or delayed by the airlines, your travel insurance will compensate all these losses which you might incur during your travel.
Can have a cashless hospitalization
The travel insurance policy covers all the expenses for hospitalization, where you can have a cashless medical treatment, where all your medical bills will be directly settled by your insurers. You no need to pay the hospital bills for any covered treatment.
Plans for senior citizens
There are customized plans for Senior citizens, which are different from other plans of travelers. Most of the insurance companies offer customized trip insurance policies for elderly people who are traveling within India or abroad.
Travel Insurance for frequent travelers
Buying insurance for every trip will be a very expensive one, hence for the people who travel frequently or multiple times in a year. Multi-Trip Travel Insurance is available for frequent flyers with one-year validity.
Different types of Travel Insurances Available in India
After planning your trip within India or abroad it is better to take travel insurance, which is available for a child, or an adult, or senior citizens to suit the needs of everyone. Go through the different types of travel policies available in India. These are divided based on the geographical border, types of travelers, insurance validity, and other types. Every travel insurance are described below-
Type of Insurances that comes under Geographical Border
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Domestic Travel Insurance
This is for people who travel within the geographical borders in India. It protects individuals as well as families for unforeseen financial emergencies along with the medical cover, loss of baggage and personal accident cover amongst others.
International Travel Insurance
This insurance policy covers individuals and families traveling overseas, where it covers a wide range of coverage including medical expenses, dental expenses, financial cash assistance, flight delays, loss of important documents such as passport, personal liabilities, loss or delay check-in baggage and hijack distress allowances. Several insurance providers also provide home insurance to the traveler’s house back in India as a part of this policy.
Schengen Travel Insurance
It is a customized travel insurance policy for people traveling to Schengen countries. This insurance protects the insured travelers from any unforeseen medical or travel emergencies that may lead to incurring financial losses. The common coverages include medical expenses, loss of passport, personal liability, loss or delay check-in baggage and hijack distress allowance, loss of check-in baggage, personal liabilities, accident cover, accidental death, dismemberment, and trip delays.
Family Travel Insurance
This is for families traveling to overseas together. This policy usually covers the policyholder, his/her spouse, and his dependent children. All insured members can avail of these policies which cover medical expenses, trip delays, loss of passport, personal liability, loss or delay of check-in baggage and many more.
Senior citizen Travel Insurance
Most of the insurances cover travelers above the ages of 60 under this policy. It protects these travelers from unpredictable financial emergencies including medical expenses, dental expenses, repatriation of mortal remains, loss or delay of check-in baggage, trip cancellation and many more.
Student Travel Insurance
This is customized for Indians traveling abroad to study. This policy is for 2 years of validity. Apart from the expenses it also gives sponsor protection, study interruption, two-way compassionate visit and ball bond amongst others.
Corporate Travel Insurance
It is a policy that has been designed based on the needs of corporates, especially for business purposes. This policy has validity for one year, which allows for several trips in a year. It includes covers such as trip delay, medical expenses, losses of baggage, missed connecting flights, etc.
Group Travel Insurance
It is a comprehensive insurance policy especially for the people traveling in groups. This policy is usually for tour groups, industrial training, official trips or pilgrimage trips. It provides personal accident and baggage cover, the exact extent of coverage depends on the insurer.
Medical Travel Insurance
It refers to the extensive medical coverages to insured travelers which covers hospitalization expenses, daycare expenses, dental expenses, medical evacuation expenses, and cost of repatriation of mortal remains amongst others.
Apart from these the other insurance policies include Multi-trip travel insurance, Single trip travel insurance, Baggage insurance, Flight insurance.
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Eligibility Criteria for Travel Insurance
The basic eligibility criteria for different types of travel insurance policies-
For family travel insurance the eligibility criteria include self-spouse and up to 2 children, adults between the ages of 18yrs to 60yrs, children between the ages of 6 months to 21yrs. For Senior citizen travel insurance people above 60yrs are eligible for this insurance. Student travel insurance between the ages of 16yrs to 35yrs. Group travel insurance should have a minimum of 10 members to be covered.
How to avail Travel Insurance online?
You can avail travel insurance online by choosing the policy that covers maximum coverage against risks that you might face during your trip, if you are taking the travel insurance through online then you can compare all of them available by different companies. There are many policies available online, you can browse, check, compare them, look for reviews and then opt for the right one.
Things covered under Travel Insurance
As we already know about travel insurance importance you must be aware of coverage of travel insurance policy. The following are the things that will be covered under travel insurance-Medical expenses, dental expenses, emergency medical services, repatriation of mortal remains, daily hospital cash, accidental death or disability, loss or delay of baggage check-in, Missed connection flight, trip cancellation and curtailment, personal liabilities, hijack distress, loss of passport or important documents, emergency cash advance, baggage loss, compassionate visit for student insurance, study interruption, sponsor protection, Bail bond and many more.
Exclusions of travel insurance
Most trip insurance policies do not cover any claims arising due to the following reasons liquor drugs, war, civil war or terrorism, HIV/AIDS, alternative treatment, cosmetic treatment, adventure sports, suicide or self-inflicted injury, pre-existing diseases, loss of passport when left unattended, and traveling against medical advice.
Additional coverage included in Travel Insurance plan
There are few optional and additional coverage which include high risk or adventure sports activities, coverage for travel to war-prone destinations, enhanced accidental death and dismemberment cover, third party supplier insolvency.
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Procedure for claiming travel Insurance
You may follow the below steps to claim the insurance which you have opted for in any emergencies-
Step 1- Inform the surer or travel assistance provided via email or phone call about your emergency and you can find all the contact details in the policy form.
Step 2-Ask about all the documents that you need to submit for claiming the insurance, remember that the list of documents varies for every claim.
Step 3-Send all the required documents to the insurer via email/fax/through the post.
Step 4-After receiving the documents they will check against the coverage provided by your trip insurance policy.
One has to remember an important point that if you opt for low investment in a travel insurance plan then you will be left underinsured. Hence take care and customize the plan based on your needs and try to cover the insurance for your near ones also. That’s all folks about travel insurance importance in India. Have a safe trip!.
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