Travel Insurance: Coverage for the Unexpected
Updated On Dec 04, 2020
Whether you are travelling alone or with your family or friends, travel insurance is an answer to your hassle-free travelling. To ensure a fun-filled travel experience, one cannot merely depend on right flight bookings and hotel accommodation. For securing your overseas travel or domestic travel related contingencies, it is essential that you opt for travel policies. It covers your possible risks that may impact your travel plan and lead to a financial setback.
There are various kinds of travel policies available in the market today:
- Corporate plans: It protect the employees of a specific organization in case of contingencies during a business trip.
- Student travel policy: It offers financial protection to students during overseas study trips.
- Senior citizen plans: These plans are designed to safeguard people in the age group of 61-70+ to help them enjoy safe travel.
- Family travel policy: Also known as a family floater plan provides financial, medical and other assistance in case of an emergency while travelling.
- Individual policy: It provides coverage to individual travellers from financial losses during any unforeseen circumstances.
What does travel health insurance cover?
Emergency Medical Treatment
Whether you are planning to take shorter trips or longer trips, travel plan comes as a boon for all your travel-related medical expenses. These types of policies provide coverage for medical expenses. It helps to locate nearby doctors and healthcare facilities and even provide assistance with language interpreters in a foreign country.
Sometimes even the airlift travel to hospitals, extended stays in foreign hospitals, evacuation during emergencies, etc. are also covered under such plans.
Loss of Baggage
In case your belongings get lost, stolen or damaged during a trip, the travel plan provides coverage for such emergencies. In most cases, checked-in baggage is covered under travel policy, but in special cases, hand baggage could also be covered. Reimbursement facilities are also available with specific airlines for loss or damage of the luggage. The amount in such cases is generally limited and also varies from airline to airline. The personal belongings and baggage coverage under travel plan provide an added layer of protection.
Cancellation/Delay in Trips
There are instances when your trip gets cancelled due to illness, accident or death in your family. In such cases, the travel policy provides coverage for the cost of pre-booked tickets and re-booking of cancelled flights. One of the things you have to keep in mind is that you need to buy the insurance before booking the ticket, else there would be no coverage provided for your financial losses. Also, the amount of coverage differs from one insurance provider to another. There may be some plans which may not cover the non-refundable cost of your pre-booked ticket. So, you need to read the description of the coverage carefully.
Evacuation in Case of Emergency
Emergency medical evacuation situation arises when you are seriously ill or injured during your travel. In such an event, you need to be transported to an area where there are better amenities. Arrangements are made for emergency medical evacuation to an appropriate medical facility or return to home. Even in case of mishap, the coverage is provided for the return of remains to the primary place of residence.
Loss of Passport/Visa
When you are in a foreign country, your passport is the most valuable possession. Travel insurance policy comes as handy in case your passport/visa gets lost or stolen during a trip. Even the reimbursement of the fees required to get the new passport is also included under such insurance policies.
While travelling if you or any of your family member meet with a serious accident/injury, which results in death or disablement, you are entitled to coverage under the travel plan. The disablement can be in the form of loss of limb, loss of sight, etc. Though, there are certain exclusions to these benefits such as death caused by drug overdose or sickness, etc.
A travel insurance policy is capable of providing coverage for most of the contingencies while traveling. However, before purchasing a policy, it is always advisable to read the policy wording thoroughly. There might be specific exclusions and other conditions that may be implied therein. Also, there might be certain clauses on the period of coverage, coverage for pre-existing medical conditions, dental treatment expenses, cost of medical evacuation, trip interruption or curtailment, etc.
You need to compare travel insurance plans available in the market and find the best one suited for your travel needs. You can even buy travel insurance online to protect yourself and your loved ones from unforeseen circumstances while traveling within India or abroad.