Travel insurance provides comprehensive coverage against things that are likely to spoil your trip. It covers your medical expenses and other risks so that you can enjoy your trip hassle-free. A travel insurance policy is a popular choice among people travelling on vacations, business trips, or for studies. Buying a comprehensive trip insurance policy will secure you from any loss/damage incurred, which would create a financial burden otherwise. It will essentially secure you and provide coverage under the following circumstances
Loss of Passport
Loss of Checked-in Baggage
Theft/Loss of Personal Belongings
Trip Cancellation & Curtailment
While travelling abroad, you surely would want to come back home with a bucket of happy memories. Right from your first flight to the stay and the return journey, you can ensure a safe and hassle-free.
Key Features of Travel Insurance Policies in India
A travel policy is designed to cater to the needs of every traveller whether flying domestically or internationally and safeguard them against any
financial loss in case of unforeseen event/mishap. Today, having so many alternatives available in the market, let us have a look at the key features of a travel insurance policy provided by general insurance companies in India:
Emergency Hospitalization & Medical Treatment- Nobody can rule out the possibility of a medical emergency while travelling. By insuring your journey, you can stay assured as all your hospitalization and treatment expenses will be taken care of by your insurer. Emergency Hospitalization & Medical Treatment- Nobody can rule out the possibility of a medical emergency while travelling. By insuring your journey, you can stay assured as all your hospitalization and treatment expenses will be taken care of by your insurer.
Compensation for Flight - Related Adversities - Facing any adversities related to your flight is very common and chances of facing it increase if you are travelling abroad. Whether there has been a flight delay leading to a missed connecting flight or a delay or loss of baggage by your
airline, your insurer will compensate for the losses you have incurred.
Trip-Related Adversities - Nobody knows when an emergency can hinder your travel plans and would force you to delay or cancel your trip.
Trip insurance provides coverage for unforeseen trip delays or trip cancellation.
Cashless Hospitalization Facility- If you get hospitalized or are availing medical treatment at an empanelled hospital of your insurer, you can
receive cashless service under your international travel insurance plan in which all your medical bills will be settled directly by your insurer. You
would not have to pay up the hospital for any covered treatment.
Customized Policies for Senior Citizens-While travelling, the needs of senior citizens are way different from the needs of other kinds of
travellers. Taking cognizance of this fact, most insurance companies offer customized trip insurance policies for elderly people who are
travelling within India or abroad
Available for Frequent Flyers - Buying an insurance policy for each journey can turn out to be pretty expensive for people who travel frequently or multiple times in a year. To ensure that such frequent flyers enjoy the perks of trip insurance plans on each journey without spending a fortune, insurance providers offer multi-trip policies with a year-long validity.
Types of Travel Insurance Plans in India
While buying a trip insurance policy is important to ensure a hassle-free journey, it is more crucial to understand the various types of insurance policies offerred to travellers in India. They have been designed to cater to the need of its every citizen right from a child, adult, student, to a senior citizen, etc.
Let us take you through the different types of travel insurance plans available in India:
On the Basis of Geographical Border:
Domestic Travel Insurance - This type of insurance plan is meant for people travelling within the Domestic Travel Insurance This type of insurance plan is meant for people travelling within the geographical borders of India. It protects individuals as well as families travelling within the Indian states from unforeseen financial emergencies. It provides coverage including medical cover, loss of baggage and personal accident cover amongst others.
International Travel Insurance - This type of insurance plan covers individuals and families travelling overseas. It provides a wide range of
coverage including medical expenses, dental expenses, financial cash assistance, flight delays, trip cancellation, loss of passport, personal
liability, Ioss or delay of check-in baaaaae and hiiack distress allowance. insurance to the traveller's house back in India as a part of this insurance plan.
Schengen Travel Insurance - It is customized overseas travel insurance that covers people travelling to one or more than one Schengen
countries. It protects the insured travellers from any unforeseen emergencies that may lead to incurring financial losses. Some of the most
common coverage provided under this type of trip insurance includes medical cover, loss of passport, delay in check-in baggage arrival, loss of check-in baggage, personal liability, personal accident cover and accidental death & dismemberment (common carrier).
On the Basis of Type Of Travellers:
Family Travel Insurance - This type of insurance plan is designed especially for families travelling overseas together. It usually covers the policyholder, his/ her spouse and his dependent children. The sum insured is mostly available in both individual and family floater basis. All insured members of a family can avail covers including medical expenses, loss of passport, personal liability, loss or delay of check-in baggage and many more.
Senior Citizen Travel Insurance - This type of insurance plan has been tailor-made, especially, for elderly A people. Most travel insurance companies cover travellers above the ages of 60 under such policies just like health insurance. It protects such emergencies, including medical
expenses, dental expenses, repatriation of mortal remains, loss or delay of check-in baggage, medical evacuation, etc. just Iike an international travel insurance plan.
Student Travel Insurance - It is a student-friendly insurance plan that has been customized for Indians travelling abroad to study. It comes with
an extended validity of up to 2 years. Apart from the basic coverage of overseas travel insurance plan, it also provides the students with covers
including sponsor protection, study interruption, medical evacuation, bail bond and two-way compassionate visit for the insured and the family member amongst others.
Corporate Travel Insurance - This type of insurance plan has been designed to cater to the needs of corporates travelling for business purposes. It usually has a validity of up to 1 year that allows the insured traveller to undertake several journeys. It includes covers such as flight delay, medical expenses, loss of baggage, missed connecting flight, etc.
Group Travel Insurance - It is a comprehensive insurance plan meant for people travelling together in groups. It is usually opted by people organizing tour groups, industrial training, official tours or pilgrimage tours. Many insurance providers offer such policies to people travelling within India as well as abroad. It usually Provides Personal accident and baggage cover. However, the exact extent of coverage depends on the
Medical Travel Insurance - It refers to the insurance plan that provides extensive medical coverage to insured travellers during their journey. It offers financial assistance in case a medical emergency occurs while travelling international and may lead to hospitalization. Such policies mostly
covers hospitalization expenses, daycare expenses, dental expenses, medical evacuation expenses and cost of repatriation of mortal remains amongst others.
On the Basis of Insurance Policy Validity
Multi-Trip Travel Insurance - This type of insurance plan is meant for people who undertake multiple overseas journeys in a year. It offers the same level of benefits on every trip without the need of buying a new policy before each journey. Thus, a traveller ends up saving large sums of money by buying a multi-trip insurance policy. It is mostly purchased by people who go abroad frequently for business purposes.
Single Trip Travel Insurance - This type of insurance plan provides protection to the insured traveller only for one single journey. Its validity begins with the start of the journey and ends with its culmination on returning home. This international travel insurance comes with a host of coverage that consists of medical cover as well as non-medical covers such as delay or loss of check-in baggage, personal liability, etc.
Other Types of Travel Insurance Plan:
Baggage Insurance - Baggage Insurance comes into picture when you lose your baggage during your journey due to theft or any other
mishap. The losses incurred due to such mishaps might put you in some really big troubles and ruin your trip. In order to get compensated for the
damage or loss to your luggage while travelling, you can always rely on baggage insurance.
Flight Insurance - It is a custom-made insurance plan that covers an insured traveller from any unforeseen flight-related emergencies faced while travelling. It protects him from any adversity caused during the flight or due to the fault of the airline or their staff. It provides comprehensive
coverage of both health insurance and baggage insurance, which includes flight delay, medical cover, accidental death & dismemberment cover, delay or loss of check-in baggage, flight cancellation, flight hijack and missed