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Travel Insurance in India-All You Need to Know About It

Published On Oct 10, 2019, Updated On Jan 30, 2020

Also known as visitor insurance or travel medical insurance, travel insurance is a special facility that covers expenses due to unforeseen circumstances while travelling abroad. It not only covers the cost of medical care, but many products offer cover for loss of baggage, need for legal aid, and flight delays as well.  

Not many people are aware of this concept in India. But the IRCTC (Indian Railways Catering and Tourism Corporation), which is supported by the government, provides travel insurance to all those who have booked tickets from the e-ticketing website. 

As per SBI General Insurance, travel insurance is not compulsory in India. Still, it can be chosen to ensure better protection as treatment expenses as well as other assistance can easily be availed here which otherwise cost large amount of money. 

The insurer also shared that in the United Kingdom and other countries including Austria, Spain Greece, France, Belgium, Luxembourg, Netherlands, and Germany, it is mandatory to have travel insurance.  

Travel insurance is divided into two categories-one for basic trip cancellation and the other for comprehensive travel insurance. The former covers expenses related to lost baggage, trip cancellation, etc. Whereas, the latter provides for compensation for accidental deaths, medical and other expenses. 

Furthermore, travellers can even connect with credit card providers if travel insurance is combined with their credit cards. While people who travel by air are not required to worry about paying for flight cancellation expenses. This is because the traveller holds the right to be seated on the other flight if the scheduled one gets cancelled on a particular route.  

On the other hand, the cab service provider Ola has also launched a travel insurance product for all the trips (outstation and rentals also). This insurance plan provides cover for missed flights due to uncontrollable delays, driver cancellations, baggage loss and financial emergencies for outstation rides, and medical expenses. 

As per Ola, an individual can obtain an in-trip insurance cover at the premium rate of Re 1 for daily rides, Rs. 15 for Ola outstation, and Rs. 10 for Ola rentals.

So, if you are travelling abroad with some really important or expensive items in your luggage and is worried about it getting lost or stolen or you are concerned about flight cancellation or wary about medical expenses abroad in case of ailment, you must opt for a good travel insurance product to get rid of these constant fears and fully enjoy your trip. 

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