Travel Insurance: An Integral Aspect of Your Vacation

10th Apr 2018

Travel insurance is one of the most underrated aspects of travel. Imagine, you are at an airport with a bunch of friends. Your much-awaited dream vacation to Europe is finally coming true. But wait! Not so soon! A run of bad luck and you hear your flight getting delayed due to bad weather.

There is a high possibility of not being able to make it to the connecting flight on time. What would you do next? Who would you contact? Who will bear the cost of the missed flight? This is where travel insurance comes to the rescue. And this is only one of the many benefits it has to offer. Investing your valuable time and money in buying a good travel insurance can and will save you from a lot of trouble and stress while travelling.

So, What Does One Benefit from A Travel Insurance?

The above scenario was an example of only one of the things that could go wrong during travel. There are many other problems that could pop up.

• Flight delays & cancellations: Considering a huge amount of load on the airline industry due to increasing air traffic, flight delays and cancellations are a common scenario. A travel insurance will cover you for the delay or cancellations and some even provide accommodation in case of long waiting hours at the airport.

• Health emergencies: Life is full of surprises, some enjoyable while some are unpleasant. A vacation is a welcome break for anyone and a medical emergency during this period can cause a quite turmoil. When you buy a travel insurance, you get coverage for medical treatments, hospitalization, accommodation for patient’s family members, so and so forth.

• Unexpected termination of trip: While vacationing in a foreign land, there is a sudden attack on locals and tourists or a situation of political unrest. What do you do? You immediately return back home. That’s when travel insurance will cover you for your return trip and make all arrangements for your safe repatriation. Similarly, in case of an accidental death, an insurance policy will cover and arrange for the return of the remains to India.

• Loss of personal belongings: Baggage or passport loss can be a horrifying experience. If you are insured, then the cost of lost belongings gets covered.

• Round the clock assistance: Insurance companies provide 24x7 assistance in case you require any help during an emergency or anytime throughout your journey.

There are ample options available for someone looking to buy a travel insurance. Most of them can be customized as per your needs.

• International Travel Insurance: It offers coverage against complete loss of baggage or passport, cashless hospitalization, medical treatments, unexpected return due to termination of the trip, etc. in a foreign land. It is further divided into insurance plans for Asian countries, Schengen countries & UK and US, Canada.

• Domestic Travel Insurance: If covers you against any medical expenses, baggage loss, evacuation, accidents, etc. during travel within India.

• Senior Citizen Travel Insurance: It offers benefits such as medical emergency expenses, dental treatments, trip cancellation due to a medical issue, pre-existing disease cover, etc. to the senior citizens.

• Student Travel Insurance: Anything and everything that could go wrong while studying in a foreign land, can be covered using travel insurance. For instance, any medical emergency, financial problems, etc.

• Corporate Travel Insurance: Insured will get covered while out on business trips in both foreign as well domestic lands.

• Family Travel Insurance: It gives coverage to the entire family against any emergencies related to loss of belongings or medical.

Above insurance plans offer tailor-made facilities, that means, they can be customized depending on your needs. What really matters,is that its premiums must be affordable and sustainable, without which, a travel insurance plan isn’t effective. So let us find out what factors contribute in deciding the premium amount.

• Country of travel: As specified earlier, the premiums vary depending on the destination. Travel insurance policy to countries like US & Canada will be expensive as compared to Asian countries.

• Duration: Longer the travel period, more the premium amount.

• Age: Older the person gets, higher the chances of him falling ill. And that is why the premium amount increases with your age.

• Sum & coverage: The sum insured and the amount of add-ons one decides to have in a policy, affects the premium accordingly.

To get an estimate, use premium calculator facility available online.

While all insurance companies will try to sell their best travel insurance plan, one must consider following points prior buying one.

• Read customer reviews of insurance companies: Customer reviews are available online. It is highly recommended to buy a plan from a company that truly cares for its customers and provides assistance in times of need. It must also have good claim settlement percentage.

• Comparevarious plans online: Many websites offer comparisons of travel insurance plans offered by different companies. Choose the one that fits in your budget and requirement.

• Hassle free claim settlement: During the time of emergency, the last thing that one wants to be bothered with, is the paperwork. The claim settlement process must be hassle-free with minimal documentation.

Considering all the above points, it is safe to establish that to buy travel insurance online requires a bit of homework from your end. It’s always better to have quotes, understand inclusions and exclusions from various travel insurance companies in India and compare travel insurance plans online. Finally, a plan that appeals you the most, is the best travel insurance plan.

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