Travel insurance is a one-of-a-kind policy that provides financial assistance if something goes wrong while you’re travelling domestically or internationally. Medical and dental emergencies, theft of your money or loss of your passport, airline cancellation, and missing or lost luggage are all covered in a travel insurance.
Importance of Travel Insurance
When arranging a trip, people always emphasize the positive aspects of the trip, such as places to see, foods to eat, mementos to buy, and so on. Nobody ever considers the possibility of anything going wrong. However, for many, travel is not as pleasant as they expect. Hence, it is necessary to buy travel insurance that can keep you covered during your trips.
You can choose a travel insurance policy that best meets your needs based on where you’re going, the purpose of your vacation, and how frequently you travel. If you only travel once in a while, then a single-trip travel insurance coverage is suitable. If you travel frequently for work, you might want to consider multi-trip or annual travel insurance coverage. You may avoid the inconvenience of having to apply for a new travel insurance policy before each trip this way.
Anyone embarking on a vacation outside of India, should think about getting travel insurance if they want to avoid losing a lot of money.
Benefits of Travel Insurance
The benefits of getting travel insurance are:
Personal Belongings, Travel Documents, and Electronic Devices
Mishaps to personal belongings, like delay in receiving bags, missing passports, and broken electronics, are some of the most typical and frustrating unforeseen events. There are sections of a travel insurance policy that may cover these issues. Just make sure to examine the coverage to ensure the policy limits are sufficient to cover the products you’re transporting.
Coverage of Activities
While travelling, most of us will partake in adventurous activities ranging from jet skiing to sky diving. However, it’s possible to get injured while participating in these activities.
As such, you must guarantee that you are covered for these activities. Otherwise, you may incur large hospitalization fees if harmed while participating.
Legal Advice
Most travel insurance contains a part dedicated to legal cover and counsel in case you require legal advice or assistance pursuing a legal claim related to your trip. Different claim companies partner with different legal organizations.
Personal Accident
While thinking about what could go wrong on your trip isn’t the most enjoyable part of the planning process, your travel insurance must include accidental death and disability coverage. These will pay a set benefit if you die or become permanently disabled as a result of an accident while on vacation.
What to Consider Before Buying Travel Insurance?
You must evaluate travel insurance quotes from many insurers and select the one that best meets your requirements. When comparing policies, the following parameters should be taken into account.
Medical Coverage and the Amount Insured
Because hospitalization costs vary by country, it’s especially crucial to double-check your medical benefits and the coverage you’ll get in the event of a claim.
Procedures for Filing Claims
The main reason you buy insurance is to cover any unexpected losses. Claims are the backbone of it. Examine the claims process and the claim settlement ratio, as these are crucial indicators of the insurer’s accuracy.
Remember to check for any time limits or deductibles to make sure you’re covered.
Claim Conditions
When doing much of anything, it is normal to disregard the terms and conditions. When it comes to insurance, however, missing vital information might result in higher premiums or, in the worst-case scenario, claim rejection.
Automated Services
It can be exhausting to register a claim while waiting for a flight. So, wouldn’t it be amazing if your insurance company kept track of travel delays and automatically filed claims?
Well, certain insurance companies offer this service.
A Process That Does Not Require the Use of Paper
Everything moves swiftly in our tech-enabled society. From ordering electronics to groceries, everything has gone online — and insurance is no exception.
When you choose an insurance company that provides all services online, you won’t have to bother about hard copies or documentation when filing a claim. All you need to do is upload the required information to their app or website.
What Does Travel Insurance Cover?
Inclusions
Insurers provide different levels of coverage based on the supplier. The most common inclusions in travel insurance policies are:
- Coverage for lost baggage and personal documents;
- Coverage of emergency medical expenses;
- Coverage in case of accidental death or permanent disability;
- Coverage for the repatriation of human remains;
- Coverage of damages caused by the insurer;
- Cash allowance for hospital care;
- Cash allowance in the event of a flight hijacking;
- Compensation for expenses incurred for relatives to visit the insurer in hospital, and;
- Compensation for a delayed trip and/or missed flight connection.
Exclusions
Travel insurance does not cover all scenarios and eventualities that may arise when travelling. The insurance company is not responsible to pay if a claim is lodged under the following circumstances:
- Pre-existing medical conditions;
- Radiation-related injuries;
- Deaths as a result of sports injuries;
- Self-inflicted injuries;
- Using public transportation that isn’t licensed to transport people;
- Surgical expenses that were not incurred due to an accident;
- Loss of baggage if the incident is not reported within 24 hours;
- Partial loss of checked baggage;
- Medical emergencies concerning pregnancy, such as abortion or miscarriage;
- Medical emergencies caused by alcohol consumption;
- Claims made due to war breakout, and;
- Claiming treatments outside of conventional means.
Best Travel Insurance Plans
Aditya Birla Travel Insurance
Travel insurance from Aditya Birla Insurance Brokers Limited covers:
- Medical expenses;
- Accidental death;
- Permanent disability;
- Loss of passport;
- Hijacking related damages;
- Trip delay or cancellation, and;
- Repatriation expenses.
If needed, the insurance policy will extend automatically.
Aditya Birla doesn’t post coverage amounts and prices. You will need to contact an agent by phone, email, or going to a branch office in-person. The agent will help in choosing the best insurance policy on offer.
Bajaj Allianz Travel Insurance
The Bajaj Allianz General Insurance Company offers a good number of travel insurance policies. Theses policies will cover anybody as young as one day to 70 years old for sums up to $1 million USD.
In general, Bajaj Allianz travel insurance will cover:
- Emergency medical expenses;
- Accidental death or disability;
- Delay/loss of baggage;
- Loss of passport;
- Trip delay or cancellation;
- Emergency cash advance;
- Damages caused by flight hijacking;
- Repatriation of mortal remains, and;
- Loss or damages incurred if home burglary occurs.
Bharti AXA Travel Insurance
Bharti AXA offers two different insurance policies. One is for individuals and families, while the other is for students. Despite some differences in eligibility criteria, both plans will cover:
- Medical expenses;
- Dental care expenses;
- Legal expenses;
- Accidental death;
- Hospitalization;
- Bail bond;
- Loss of important documents;
- Loss of deposit due to the unavoidable cancellation of an airline or hotel booking;
- Trip cancellation and/or interruption, and;
- Damages incurred if a home fire occurs.
These insurance plans will cover anybody from three months to 85 years for expenses up to $500,000 USD. In order to apply, visit the website or the nearest branch office for a quote.
SBI Travel Insurance
When getting travel insurance from SBI, customers can choose between single trip and multi-trip insurance. While both policies cover the same things, they differ in length. The single trip insurance covers trips that last up to 180 days, while multi-trip insurance will cover any trip that occur within a 365-day period.
In particular, these policies cover:
- Medical expenses up to $500,000 USD;
- Loss of passport;
- Delay/loss of check-in baggage;
- Trip cancellation, curtailment, or delay;
- Emergency cash advance;
- Bail bond;
- Damages caused by flight hijacking, and;
- Loss or damages incurred if home burglary occurs.
Tata AIG Travel Insurance
With prices starting at INR 40.82 per day, Tata AIG Insurance offers one of the most affordable travel insurance in India. Even better, the company offers policies that cover anybody from six months and above.
No matter the policy you choose, Tata AIG travel insurance will cover:
- Medical expenses;
- Loss of passport;
- Delay/loss of baggage;
- Trip cancellation, curtailment, or delay;
- Interruption of study;
- Compensation in case of flight hijacking, and;
- Loss or damages incurred if home burglary occurs.
Moreover, the policy will be automatically extended if a lockdown is imposed in the location where you are travelling.
What Is the Claim Process for Your Travel Insurance Policy?
The steps to make a claim are:
- Contact your insurance company by phone or email if you have an emergency while on vacation.
- Use the insurance company’s contact information, such as a toll-free number or an email address stated on the policy document, to get in touch with them.
- A claims service representative will help you register the claim, understand the claim filing process, and get the appropriate supporting documentation for that policy.
- Obtain the proper claim form by downloading it.
- Submit the completed claim form together with any supporting documentation.
- The documentation will be examined by a surveyor appointed by the insurance provider.
- The corporation will determine whether to adopt or reject the policy after an assessment.
