What is Travel Insurance - An Indian’s Guide To Why You Need It

• Provides financial protection while travelling
• Covers damage and losses during travel
• Protects against trip cancellation
• Applicable for Domestic and International journeys
• Covers flight accidents
• Insures against accidental death
• Protects in medical emergencies

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What is Travel Insurance?

• Unexpected Trip Cancellation or Interruption
• Medical Emergencies Abroad
• Lost, Stolen or Damaged Baggage
• Travel Delays and Missed Connections

Buying travel insurance might not always be mandatory, but it is highly advisable for a peaceful and hassle-free trip. It is mandatory in some situations for visa applications for certain countries or particular travel packages and tours. For example, if you apply for a Schengen visa, you must buy travel insurance; the coverage must be at least 30000 euros for your entire trip.

What Does Travel Insurance Cover?

Travel insurance typically starts from the first day of your travel and ends when you come back to India. It covers many unexpected risks. Let us see the details one by one.

Trip Cancellation or Interruption: The insurance reimburses you some or a full prepaid amount for non-refundable travel expenses if your travel is cancelled or interrupted due to a flight delay, family emergency, illness, injury, Legal obligations, bankruptcy, or weather. If you avail of the Cancel For Any Reason (CFAR) option in your travel insurance, you can use this to get a portion of your cost in case of cancellation for any reason other than those mentioned above.

Medical Expenses: Travel medical insurance helps you with all medical and dental expenses, including finding a medical facility. The coverage may vary depending on your premium and provider. This insurance may range from five days to one year in case of severe injury during travel. If you already have health insurance, check whether it covers medical emergencies abroad. Also, look for how to buy travel health insurance.

Baggage or Personal Belongings: This is a common problem many people face while travelling. The coverage for stolen, lost, or damaged baggage varies depending on the limit of your plan. For example, for one item, the coverage amount is 500 Rs, and for an additional item, the coverage is 250 Rs. Even if the item is more expensive than the coverage amount, you will get only a limited amount. Some insurance companies will ask for the bill and details for your claim. Baggage coverage may have many exclusions and restrictions. Learn what is travel insurance and its details from official websites for accuracy.

Accidental Coverage: Travel insurance covers accidental death or severe injury to the hand, foot, limb, or eyesight. It is offered in three parts: flight accident insurance, common carrier insurance, and general travel insurance. There will be a limited cost for every injury. If you already have life insurance, you do not need to take advantage of this accidental coverage in your travel insurance.

Rental Expenses: Travel insurance covers damages caused to your rental properties during your vacation. It includes some of the reasons for the coverage related to rent abroad.

• Keys that are missing or stolen
• Unsafe or unclean vacation property
• The vacation home wasn’t what was described.
• The company overcharged for your holiday home.

Rental car insurance covers any damage or loss caused to your rental car. However, it won’t cover damages or injury caused by you to others with the car. 

Other Coverages: You can add the following categories to your travel insurance package based on your travel plan.

• Services for identity theft
• Trip extensions
• Coverage of school activities
• Destination weddings
• Reporting on adventure sports
• Emergency Evacuation
• Lost connections on flights

Stay Healthy Abroad and Protect Your Health on the Go with Travel Medical Insurance!

What Does Travel Insurance NOT Cover?

After knowing what is travel insurance, it is important to know what your plan does not cover. This will depend on the plan you choose. The following are some of the common things that will not be covered.

• Pregnancy and childbirth
• If you are involved in adventurous or dangerous activity.
• Unrest activities in your destination area
• Pre-existing health conditions
• Carelessness or deliberate actions

Source: Investopedia

How to Choose the Right Travel Insurance:

You should check the following to understand what is the purpose of travel insurance and get the best policy that suits your needs.

Factors to consider: 

• You should look for the duration of your trip. For longer trips, you might require more coverage.
• Some destinations may have higher medical costs.
• You will need coverage for the activities you are planning on the trip, especially if it is an adventure trip.
• Look for Medical coverage if it covers your pre-existing medical conditions.
• Last but not least, the budget without compromising the necessary protection.

Types of Travel Insurance:

Basic: Tourists and low-cost travellers often opt for basic cover. It’s typically used by those who desire to travel on a budget, light, and without much expensive stuff. However, it covers health and medical emergency care services.

Comprehensive: Comprehensive travel insurance typically includes a 24-hour helpline for finding doctors or aid in an emergency, reimbursement for trip interruption, cancellation, delay, lost or damaged baggage, medical bill coverage, and medical evacuation coverage.

Medical: It covers all your medical expenses, including those related to medical emergencies, severe injuries, hospitalisation, and doctor checkups.

Source: [Comprehensive travel insurance](https://www.comparetravelinsurance.com.au/travel-insurance-tips/comprehensive-travel-insurance

:~:text=Comprehensive%20travel%20insurance%20is%20the,delays%2C%20and%20alternative%20transport%20expenses.)

Tips for Choosing:

The following tips will let you know how to find the best travel insurance

Compare Quotes: Look at multiple insurance providers for the best rates and coverage options, and you will know the answer to “Is travel insurance worth it?”.

Read Reviews: Check reviews from other travellers to understand the reliability and customer service of the insurance company.

Understand Coverage Details: Make sure you know what is included and excluded in the policy. Pay attention to the fine print regarding coverage limits and conditions.

You can buy your travel insurance online from travel agents, private insurance companies, insurance brokers, or by airlines when booking your flight ticket, hotel, or rental car. You will use this insurance once you face some unfortunate issues. We have seen what is travel insurance, and now we will see how to claim it.

Contact your Insurer: You have to contact your insurance company as soon as you encounter a problem like a medical emergency, trip interruption, or lost baggage. 

Fill Out your Claim Form: Many insurance companies provide the claim form online. You can download or fill out online with your insurer’s guidelines.

Submit the Required Documents: There will be many required documents for your claim. Different claims need different documents, such as submitting a copy of the theft report to the police station in the case of stolen baggage. Gather all the documents and submit them online or through mail as per your insurer’s assistance.

Claim Review and Approval: After you submit your claim form and documents, the insurance company will review them, and they will approve your claim once it falls under the coverage reasons.

Reimbursement: After approval, you will receive the reimbursement for covered expenses. 

Source: [Bajaj Allianze](https://www.bajajallianz.com/blog/travel-insurance-articles/travel-insurance-claim-procedure.html

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Importance of Keeping Receipts and Documentation

• You should maintain complete documentation throughout your travel to process your insurance claim smoothly and receive a successful reimbursement.
• You must keep all your receipts for flight bookings, hotels, restaurants, and purchases. The insurer may deny or reduce coverage if you don’t have the documents. 
• Report any incidents, such as theft or loss, to the officials and get a copy of the report. This will add credibility to your claim.

Stay Safe on your Trip and Protect your Travels with the Best Travel Insurance!

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Conclusion

Travel insurance offers financial protection against trip cancellations, medical emergencies, lost or damaged baggage, accidental death, flight accidents, and travel delays. It ensures a peaceful and tension-free journey. Before choosing travel insurance, check whether you already have coverage in your life, health, or car insurance. 

Ensure your journey is worry-free by purchasing travel insurance today!

Frequently Asked Questions

1. What do you mean by travel insurance?

Travel insurance covers various risks during travel. It covers lost baggage, ticket cancellation, medical expenses, and more. Read our What is Travel Insurance blog for more details.

2. Is it important to have travel insurance?

Travel insurance is the most important requirement for your travel plan. It covers all the unexpected medical expenses that happen during your journey.

3. Does everyone need travel insurance?

Travel insurance is not mandatory. If you can afford to take risks and losses during your trip, you don’t have to opt for travel insurance.

4. How to get travel insurance?

You can buy insurance as an add-on to travel bookings, such as airlines and hotels. Plus, you can buy them directly from insurance companies, banks, travel agencies, or agents.

5. How to claim travel insurance?

Fill out your claim form, submit all the necessary documents, wait for review and approval, and receive reimbursement.