Love traveling? Love creating memories? While travelling, especially internationally, the last thing you would expect is a sudden untoward situation. A travel insurance can ensure that you enjoy every moment of creating lasting memories without worry. A good travel insurance cover will take care of loss/theft of baggage, passport & other important documents, financial loss due to delay of flights and medical emergencies amongst others. Consider securing your travel plans with an insurance cover for a happy journey.
Types of travel insurance
The following types of travel insurances are what most of the insurers provide. Understand, and decide which one suits you the best as per your requirements.
- Family: This insurance is meant for the family of the individual, who has been insured, in its entirety. Meant for covering any emergency arising out of the travel, family travel insurance covers hospitalization, baggage loss, and other incidental expenses.
- Individual: This insurance cover is meant only for a single individual to take care of his travel related emergencies. Apart from the usual travel insurance benefits, you also get coverage against cancellation of trip, home burglary, loss of baggage and trip change.
- Multi-Trip: This travel insurance offers extended coverage for almost a year. This is meant mainly for frequent flyers going on multiple trips to avoid them from seeking insurance on every travel.
- Single Trip: This insurance takes care of emergencies arising out of the duration of a single trip. It takes care of medical as well as non-medical emergencies including loss of baggage coverage.
- Domestic: This travel insurance is for travel within the country and is generally provided along with your tickets by most carriers. It takes care of medical emergencies, permanent disability and death, checked-in lost/stolen baggage, travel delay and personal liability.
- Overseas Travel Insurance: This form if insurance is probably the most popularly offered by most insurance companies. However, this insurance may also be included with specific carriers that have a tie-up with an insurer. This offers coverage for problems arising during international travel for overseas travelers. With this insurance, you can be rest assured of a comprehensive coverage for medical expenses overseas, repatriations/evacuation to India, hijack, baggage and travel delays, and loss of travel documents/passport. However, it is important to note that one needs to be an Indian citizen in order to avail of this insurance plan.
- Corporate: Thistravel insurance is for employees of an organization, and takes care of theirdomestic as well as international trips.
- Student: Like corporates, this insurance policy is meant for students travelling abroad for higher studies on student visa. It covers students going to colleges, universities or institutes in a foreign country for academic or professional courses. There isn't much paperwork involved in this plan. The coverage is like other travel insurances comprehensive and provides for expenses incurred on medical treatment, passport loss, and study interruptions.
- Senior Citizen: For elderly people belonging to the age group of 61-70, this travel insurance policy gives them a hassle-free and pleasant travel experience. The policy coverage includes cashless hospitalization and other medical treatments besides other holistic benefits of a travel insurance.
What does a Travel Insurance constitute?
Like any other insurance, travel insurance is also meant to protect a traveler against any unforseen circumstances that may arise during a trip. The following points mainly constitute travel insurance:
- Travel medical insurance provides daily allowance apart from covering for in/out patient hospitalization
- It comes with a personal accident cover in case of permanent disability/death
- The insurance covers loss with respect to personal possession
- It covers expenses in case of trip delays
- It covers for loss of baggage and passport
Why should you consider Travel Insurance?
As a traveler, you would know the difficulties that you may have to incur in case of any untoward incident such as loss of passport, baggage, delay in trips or flight cancellation. Your timely trip plan may go haywire in such dire circumstances. With a travel insurance, you can keep away from ruining your perfectly planned trip to anywhere. A travel insurance can be comforting especially in a foreign land with no one around.
What does travel insurance NOT cover?
The following things are not covered in a travel insurance:
- Damage or loss of keys
- If the baggage delay is less than 24 hours
- Flight/train missed because of local protest or civil war
- Expenses incurred because of local protests or civil war
The above exclusions vary from plan to plan. It is advisable to compare and choose the travel plan as per needs.
How to claim travel insurance
A comprehensive travel insurance that will cover any sort of contingency during your travel, should be your priority while selecting travel insurance. It is also important to ensure that the company has a local contact number that you can reach for support when required.
Following things should be kept in mind for claiming insurance:
- Carry the original policy document along with photocopies while traveling. You can even keep a soft copy handy in case you lose any of the documents.
- Inform the insurance provider via email or call to understand the process of claiming insurance.
- Check for the supporting documents and send to the insurer by post, fax or email. You claim will be processed after all the documents submitted have been assessed and verified by the insurer.
You need to keep the following documents handy:
- Passport with immigration stamp,
- claims form,
- copy of policy,
- original bills and receipts,
- police report (if applicable),
- personal identity proof