Is a Domestic Travel Insurance Required?

While travelling is fun, it does come with an element of uncertainty. While good memories may be something you look forward to, there may be some unpleasant incidents as well. While fate cannot be foretold or even predicted, travel insurance is a great way to hedge against the financial impact of unfortunate events.While drawing up your bucket list of things to do and souvenirs to buy on your next vacation, you may also want to consider buying travel insurance. It is a worthwhile investment considering the various travel risks that you could potentially face. You may wonder, “Don’t I just need travel insurance when I am travelling abroad?”This is a misconception. Whether domestic or international, travel can be risky. Whether you plan on spending a fortnight in the backwaters of Kerala or the misty hills of Darjeeling, unforeseen problems may arise. These include medical emergencies, accidents, flight delays, cancellations, loss of baggage and more. Here’s why travel insurance is a good bet when travelling within the country.

If you are travelling to a destination within the country, you may discount the possibility of mishaps. However, emergencies can happen anywhere, regardless of the duration of travel. With domestic travel insurance, you are covered against:

• Flight delays, which may have a cascading effect on any connecting flights
• Cancellation of flight
• Theft or misplacement of baggage
• Medical emergency onboard the flight

Travel insurance will help you recover from any of these circumstances, protecting you from any financial impact.

Changing weather conditions or poor sanitation while travelling can cause infections, heat strokes and other illnesses. With rising medical inflation, you may end up paying a lot more for treatment than you anticipated. Travel insurance gives you cover for any medical or accident related conditions.For example, if you are trekking in Manali and need to be hospitalized after a fall, you may end up spending a lot more than expected. With travel insurance, your hospital expenditure will be taken care of.

Loss of baggage can play spoilsport with your vacation plans. While the airline may compensate you monetarily, the stressed caused is incalculable. However, with a travel insurance policy, loss of luggage, including high-value items such as laptops, etc., is covered, thus allowing complete peace of mind.

Travel insurance also provides coverage against accidental damage to third party property. This is advisable when you are travelling with your family.For example, while on a family vacation, you may be liable for inadvertently caused damages at airports, hotels and resorts. If you have travel insurance, the financial impact of such incidents is minimized.
In the age of digitalization, you can easily buy a travel insurance policy with a few clicks directly from the website of the insurer.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.