Travel insurance provides coverage against misfortunes that may arise while you are away from home for professional or leisurely activity. It also provides host of other facilities in a comprehensive manner to give you peace of mind while travelling.
Why You Should Buy Travel Insurance Policy?
• It provides health cover during medical emergencies that may come across while travelling
• It provides liability protection if in case someone sues for any injury or damage
• It provides cover for stolen items during journey
Travel insurance is made mandatory by government of various countries. That is, you cannot visit the country without having any travel insurance. Some of the countries have the norm of having health coverage too in your travel insurance policy. So you need to buy travel insurance policy before even you pack your bags for that awaited international trip.
Travel insurance is needed not just for international trips but for the trips made within the country as well. Like international travel insurance, you can choose the coverage for trip to be made within the country, depending upon your needs and the place you are planning to visit.
Types of Travel Insurance-Best Travel Insurance in India
• Single trip travel insurance:
It provides coverage to the policyholder for a single trip. Generally, the maximum period of coverage is six months. The premium depends upon the level of coverage opted for. Almost every general insurance company provides protection against common risks of stolen baggage, important documents like passport etc. You also get health coverage that reimburses your medical expenses incurred or provide cashless hospitalization facility during travel; however any kind of coverage is subject to various terms and regulations that vary with companies.
• Single trip travel insurance:
It provides cover for a number of trips made during a year and is designed for those who travel frequently. It covers you against risks of various kinds in a comprehensive manner. The premium depends upon the kind of coverage opted for. Trip cancellation, stolen baggage, emergency evacuation, medical expenditure, delayed departure; liabilities occurred during journey and legal protection, are just some of the facilities. You can choose the coverage according to the places you visit.
• Student travel insurance
This kind of travel insurance is meant to protect a student who travels abroad to pursuing higher studies and provides coverage for the entire term of studies pursued.
• Corporate travel insurance
This is basically made to provide coverage to a corporate group or employees of a company and to look after the uncertainties that they may come across during their trip.
• Senior citizen travel insurance
As name suggests, this kind of policy addresses the needs of the senior citizen. Generally, insurance companies consider the age of 61-70 years for senior citizen travel insurance plan but this age range can vary company to company. Besides the other general coverage, insurance companies address specifically the health needs of the policyholder and medical check-up can be mandatory to buy the plan.
• Family travel insurance:
This plan is made to address the needs of a family in a comprehensive way and is generally bought for vacations in India or abroad.
• Benefits of travel insurance
• Peace of mind during journey
• Protection against third-party liabilities that may come across while travelling
• Coverage for stolen passport, luggage and other important things
• Health coverage during medical emergencies
• Cashless hospitalization
• Emergency evacuation
• Emergency service round the clock
• Personal accident cover for disability or dismemberment
• Financial protection against cancelled or postponed trips
• Optional cover for cancelling the trip
• Optional cover for injuries caused due to sports and games that are generally not covered under standard travel policy
• Financial protection against risk of airline going bankrupt before or during your trip
• Coverage against risk of terrorist activities
• Choice available for multi-trip insurance or single trip insurance policy
• Optional coverage of hijack relief benefit