What Is Travel Insurance And Why Do We Need It? – Who doesn’t love to travel? People love to travel and explore different parts of their country and world with their loved ones, either family or friends, or sometimes alone. Traveling isn’t always a smooth journey; it requires careful planning to avoid unnecessary expenses. While people yearn to explore the world, financial constraints often pose significant challenges. Despite meticulous planning, unexpected disruptions can derail even the most well-thought-out itineraries. To ensure a seamless travel experience and safeguard their finances, individuals often choose to secure a travel insurance policy. Generally, people prefer travel insurance when travelling abroad because it obviously has more risk compared to travelling in their own country.
In this article, we are going to discuss the perks of travel insurance and the ways to buy it.
Why Do We Need A Travel Insurance Plan?
It is a very intelligent step to insure your trip before travelling to make sure that you and your family or friends are safe all the time. The reasons that you need to buy a travel insurance plan before commencing your trip are as follows:
Provides safety from lost passport, documents and baggage
Losing your travel documents is terrible since it puts your remaining trio’s safety and finances at jeopardy. Similarly, it will be a major problem if your luggage is lost or stolen. In India, most travel insurance providers offer comprehensive coverage that safeguards you in case your essential documents, such as your passport, are lost or stolen. It’s essential to secure online travel insurance that encompasses protection for both lost luggage and passports.
Provides support in case of accident and sickness
Being ill when travelling is annoying. It forces you to adjust your plans and can even affect your financial situation. With the most comprehensive international travel insurance coverage, you can rest assured that your provider will cover any unexpected medical expenses. Different emergency medical costs related to illness, injury, accidents, etc. will be covered by the coverage. In certain instances, it may also extend its coverage to encompass any unexpected dental emergencies that may arise, in addition to the pre-existing conditions you have disclosed.
Provides safety from delays and cancellations
A flight delay is highly dangerous when travelling internationally; simply an hour can cause you to miss a connecting flight or a crucial meeting. Additionally, you can end up paying more money. Just like a flight cancellation can lead to substantial financial setbacks, it’s essential to have several prepaid reservations. As long as it falls under the terms of your policy and is due to a covered reason, your insurance provider will extend coverage for trip delays, flight disruptions, and any unforeseen trip cancellations.
Provides medical evacuation
While getting sick while travelling is challenging, returning to India in the event that your health deteriorates is even more challenging. Your medical evacuation is the only remaining option in this scenario, and it is quite expensive. You can easily select a suitable online travel insurance policy that includes coverage for overseas medical evacuation expenses.
Provides travel assistance
Sometimes unanticipated problems can arise while travelling overseas, problems that may be challenging to solve on your own. You can ask your insurance for travel assistance, for instance, if you need to find the closest doctor, go to the police station, or just need a translation for something crucial.
What Does Travel Insurance Plan Generally Covers?
Various companies offer a range of distinct plans, but there are common coverage elements that most companies typically include.
- Treatment of teeth under acute anesthetic treatment because of an injury
- In case a passport is misplaced, the expense incurred for obtaining a replacement or duplicate passport.
- Insurance protection for incidents leading to fatality or significant impairment when traveling as a passenger on a standard transportation service.
- If you are hospitalized for more than seven days, your family will be reimbursed for the cost of their return flight to see you, the insured. Any unexpected illness, injury, or death that you or any of your family members experience while travelling may result in emergency medical costs.
- Costs associated with missing a connecting flight because of a more than 3-hour delay.
- Compensation for a third party in the event that your unintentional actions result in someone’s death, injury, or destruction of their health or property Accidental physical harm during the journey
- Medical expenses for an urgent situation during a flight to India.
- Expenses linked to journeys that are delayed or called off due to airline disruptions, medical issues, personal circumstances, or natural disasters can result in financial burdens.
- Covering the expenses linked to repatriating the insured person’s remains to their country of origin or facilitating their interment in a foreign land.
- The expenses linked to a travel disruption lasting over 12 hours due to an airline delay, a sudden medical crisis, a personal work-related matter, or an unforeseen natural calamity.
- Coverage for protection against break-ins when you’re not at home.
- If your plane is hijacked for longer than 12 hours, you will receive a special distress allowance.
What Does Travel Insurance Plan Does Not Cover?
Life-threatening situations are only included in the coverage for individuals under 70 years old if they arise from pre-existing conditions that have been openly disclosed and are specifically mentioned in the travel insurance policy schedule. Any undisclosed or unreported pre-existing medical conditions will not be eligible for claims. Therefore, be sure to disclose all pre-existing conditions when purchasing travel insurance.
Any costs incurred as a result of the conditions listed below:
- Illnesses or injuries caused by oneself
- Mental illness
- Depression, stress, or anxiety
- Venereal illnesses
- Alcohol and drug abuse
Costs you incur if you’re traveling:
- Against a doctor’s recommendation.
- While receiving a specific medical treatment or being placed on a waiting list for one.
- To another country for medical care.
- Even after getting informed that their medical condition has a terminal prognosis.
- Problems caused by theft or loss of a passport that is not reported to the local police authorities or is left unattended.
- No partial loss or damage resulting from lost checked baggage will result in payment.
- If there is conflict or a nuclear threat in the country you are visiting
Companies Which Can Offer Best Travel Insurance Plans In India
You’ll need a specific plan, depending on things like the cost of your travel insurance, your intended use for the trip, your age, etc. A list of the companies that offer best travel plans in India are as follows:
- Aditya Birla Travel Insurance
- Bajaj Allianz Travel Insurance
- Bharti AXA Travel Insurance
- Cholamandalam Travel Insurance
- Digit Travel Insurance
- Future Generali Travel Insurance
- IFFCO Tokio Travel Insurance
- National Insurance Travel Insurance
- New India Assurance Travel Insurance
- Oriental Travel Insurance
- Reliance Travel Insurance
- SBI Travel Insurance