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A Guide to Travel Insurance

6 minute read

By Check

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:

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:

Best Travel Insurance Plans

Aditya Birla Travel Insurance

Travel insurance from Aditya Birla Insurance Brokers Limited covers:

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:

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:

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:

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:

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:

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