The sheer thought of travelling certainly lights up one’s mind. While on a vacation, you have the best of times with your family or friends, and might forge memories that last a lifetime. Therefore, should travel be on your mind and you are looking forward to a vacation to lift you up in spirit and motivation, it is imperative that you purchase a travel insurance policy.
Read on to know more about this policy.
Why the travel insurance policy?
A comprehensive travel insurance policy is designed to cover for risks and financial losses – be it medical expenses, lost luggage or trip cancellation expenses – that may come up while you are travelling, either within the country or overseas.
Things to keep in mind
Make sure you check for the following things before choosing a travel insurance plan for yourself:
- It covers delays in flights and flight cancellations
- You don’t have to shell out money for pre-existing diseases
- Covers for factors such as loss of baggage and passport
- It offers you a Personal Accident coverage
- It attaches a fast claim settlement process
Types of travel insurance
Based on your requirements, you can zero in on a travel insurance policy from within a number of alternatives. Stated below are some of the more common ones:
- Domestic travel insurance
This is designed in keeping with what customers – travelling within the country – would want. It includes medical emergencies, lost luggage, flight delays and/or cancellation, theft of check-in baggage and personal damages such as bodily injuries and/or death.
- International travel insurance
As the name suggests, this policy is designed keeping in mind specific requirements of individuals travelling overseas. Besides the usual, such a policy seeks to cover harrowing eventualities such as a flight hijack and loss of passport or other travel documents.
- Medical travel insurance
Again, the name drops the hint. This is a short-term travel insurance policy, one that is dedicated at covering medical and healthcare related expenses while you are on a trip.
- Group travel insurance
It is one of the more convenient ways to save big on policy premiums, considering a number of individuals (need not be related by blood) can be clubbed together under a group travel insurance plan.
- Family travel insurance
With a policy such as this, family members of the insured would also be eligible for complete coverage against various contingencies that could rear their head over the course of travel.
- Multi-trip insurance
Considering frequent flyers might find it inconvenient to purchase insurance every time they travel, a multi-trip insurance policy could then be of much help; for it is designed to insulate one from travel-related eventualities, usually valid for a year from the date of policy purchase.
What are the common exclusions?
Similar to any other policy, your travel insurance plan will generally attach a list of exclusions. Some of the more probable ones include:
- Should you miss your flight/train due to a local protest that has erupted
- Should you sustain personal damages (be it bodily injuries or financial losses), resulting from a local protest or civil war, for that matter
- Pre-existing diseases that might warrant/lead to hospitalization
- Any delay in baggage receival that is less than 24 hours
In conclusion, before you set foot on the road to your next travel stop, make sure you are safe and guarded with a travel insurance policy.
Click here to know more about travel insurance.
* Terms & conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.
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