Travel Insurance Policy
is an insurance policy which covers all risks while you are travelling within India or abroad. Everybody loves to travel. Travelling is an amazing experience & fun to cope up with stress & depression. While spending quality time with friends & family on a vacation, you live many key moments and collect unforgettable memories forever.
Whether you’re planning to travel for a business trip, enjoying vacation either with family or close friends, or studying abroad, it’s highly recommended to buy travel insurance plan to take care of risks or losses that might occur during the trip. Travel Insurance is meant to protect you & your loved ones from unforeseen circumstances, even if you are not with them.
Compare & select the best online travel insurance policy is one of the major key factors. PolicyBazaar is one-stop platform, which gives you an opportunity to explore & deeply analyze the various travel plans offered by general insurance companies in India. Below mentioned are few things, which you need to keep in mind while buying a travel plan:
Covers Flight Delay and Cancellations
No Extra Cost for Pre-Existing Diseases
Covers for Passport and Baggage lLoss
Personal Accident and Liability Covered
Quick Claim Reimbursement with Cashless Options
“The world is a book, and those who do not travel read only a page.”
Avail Cashless Hospitalization
As you know that travel insurance includes coverage for medical emergencies too, it is prudent as well as highly recommended for you to collect your E Card from your insurer before traveling to a foreign country. Insurance companies have their agencies in different countries, which settle all such claims.
All you need to do register yourself with the number mentioned on the E Card in order to be eligible for any such treatment in a foreign land if and when necessary. However, you can avail cashless hospitalization at a network hospital only, which means it should be inpatient hospitalization only.
Compare & Buy Best Travel Insurance Policies in India
Travel Insurance Types
You can choose which coverage to opt for on the basis of your specific requirement. Travel plans and policy offer coverage against all possible emergency situations during transit.
Domestic Travel Insurance
Domestic travel insurance is meant for customers who are travelling within the country. It provides coverage for medical emergencies, permanent disability and death, checked-in lost/stolen baggage, travel delay and personal liability.
International Travel Insurance
International travel insurance offers protection from a number of contingencies for overseas travellers during international travel. It provides a comprehensive coverage for medical expenses overseas, hijack, baggage and travel delays, repatriations/evacuation to India, and loss of travel documents/passport besides the usual coverage.
Student Travel Insurance
Student Travel Insurance is a travel policy designed for students travelling abroad on student visa to pursue higher studies. The policy covers students who are going colleges, universities or institutes in a foreign country for academic or professional courses. There is minimum paperwork involved in student plans. The coverage is comprehensive and provides for expenses incurred on medical treatment, passport loss, and study interruptions.
Medical Travel Insurance
Medical travel insurance is a short-term travel insurance plan formulated to cover specifically the health care and medical expenses incurred such as medical emergency and evacuation etc. when an individual travel overseas. The exact inclusions and exclusions depend upon the insurance provider from whom the medical travel insurance plan is purchased.
Group Travel Insurance
Group travel insurance, as the name suggests, is a type of travel insurance policy that covers a bunch of people who are not related to each other by blood and are traveling to a distant place together. This group of people could be members of a club, who are going on an international trip to participate in an activity or something. A group travel insurance policy in such a case saves thousands on the premium.
Senior Citizen Travel Insurance
Senior citizen travel insurance is for people who belong to the age group of 61-70 years. It is a travel medical insurance policy aimed at senior citizens to make their travel a pleasant experience. It includes coverage for dental treatments and cashless hospitalization besides the usual benefits associated with travel insurance.
Family Travel Insurance
A family travel Insurance plan insures the entire family of the insured individual from travel related emergencies. This plan covers hospitalization (travel medical insurance), baggage loss, and other incidental expenses. The claim disbursement is easy with minimal paperwork involved.
Multi-Trip Travel Insurance
A multi-trip travel insurance is a type of travel insurance offering extended coverage usually for a year, specially designed for frequent fliers for multiple trips so that they don’t have to apply for insurance every time they travel.
Single Trip Travel Insurance
This type of travel insurance provides coverage for the duration of a single trip. It takes care of medical (travel health insurance) and non-medical emergencies during travel including coverage for loss of checked-in baggage.
Corporate Travel Insurance
Under corporate travel insurance India, employees of an organization can get coverage for both international and domestic trips.
4 Key Features of Best Travel Insurance You Must Know
Purchasing a travel policy online is all about providing travellers an ideal cover against emergencies and unforeseen situations right from the comfort of home. There are certain key features which one should look out for while zeroing in on a plan.
Compensation for Flight Issues – A travel policy provides you with compensation in certain cases, including flight delay or cancellation. This usually is covered in the case of traveling abroad. You will be provided with accommodation during the waiting period.
Medical Emergency & Hospitalization – What if you met with an accident during your trip or a medical emergency strikes all of a sudden? It’s your travel policy that bears the expenses, including hospitalization or medical treatment for bodily injuries, ambulance fee, etc.
Travel & Accommodation – Any emergency causing trip termination or delay is typically covered by travel plan. In the meanwhile, expenses arising out of hotel accommodation, in-between transportation, air ambulance (if required due to a medical emergency), etc. are settled under the coverage of your travel policy.
Legal Liability & Expenses – Travel policies provide coverage for legal liabilities and corresponding legal expenses whatsoever, in addition to coverage in term of medical and accommodation expenses.
10 Reasons Why You Should Buy Travel Insurance
Over the last decade, travel has become a significant part of our lives. Be it for business, leisure, or pursuing higher education overseas, a large number of individuals travel regularly. With this increase in frequency, the risks associated with traveling have also increased. Hence, it is crucial to be aware of everything related to your trip. All that information will come in super handy if you find yourself in unforeseen situations while you are aboard.
To know why you should buy travel insurance, take a look below. It will help you avoid any confusion whenever any emergency knocks on your door.
It Covers You against All the Health Emergencies – While unexpected events can occur anytime and anywhere, a possibility of it being a medical emergency is more likely. Most probably, your health insurance plan will cease to exist the moment you step out of the country. At the time of buying travel insurance, make sure you opt for a wider coverage. In a foreign country like the US, the treatment of even a minor wound will cost you a bomb.
It is Mandatory in Some Countries – In some countries, such as the US, it is important for a traveler to have a travel insurance cover; else they wont be able to enter the geographical boundaries of the country. Also, in some countries, healthcare costs are so expensive that it is a win-win deal for individuals when they opt for a travel insurance plan.
Coverage in Remote Areas – If the location you are visiting is remote, chances are that the medical facilities might be inadequate. If you meet with an accident or suddenly fall sick, you might need to be airlifted to a hospital. If you dont have any insurance coverage, the incurred airlifting expenses would cost you an arm and a leg.
Dental Emergencies – Even while traveling, the risk of losing a tooth in a nasty fall is as much as when you are at home. As this cannot wait for your return to home, you will have to seek immediate medical intervention. As dental expenses (and the associated pain) can be a true killjoy, travel insurance plans tend to cover such expenses. At least, you pocket wouldnt hurt.
Claim Your Flight Cancellation or Rescheduled Flight Fees – When you are ready to embark on your trip to a location of your choice, canceled/rescheduled flights can be really annoying. It drastically lowers your enthusiasm and excitement levels even before the trip begins. Technical issues, adverse weathers, strikes etc. could be a hurdle and you could miss your connecting flight because of that.Buying a travel insurance plan provides coverage against flight delays/cancellations as well as baggage delay/loss even before your trip actually begins.
Travel-related Stress, whats that? – A travel insurance plan keeps travel-related stress at bay by offering financial safety and security when you are abroad. In case you fall sick, get injured, or get stranded at your destination, a travel insurance policy will be able to provide for any emergency accommodation till the time it is safe for you to fly back home.
Replacement for Lost or Stolen Baggage – During a trip, the worst thing that could happen is losing your baggage or any personal items. Tourists are a soft target for local thieves, hence, stolen luggage is a common problem faced by them.While traveling abroad, if your baggage gets lost or is stolen, the replacement cost would be too much.Firstly, you would have to shell out money from your pocket for a duplicate passport and a copy of the required travel documents. Then, you would need fresh clothes and toiletries. A travel insurance plan would offer much-needed support in the hour of need by providing reimbursement for such expenses.
Coverage for the Entire Family – While you globetrot with your family, travel insurance will offer you an adequate insurance coverage. Travel insurance becomes highly important when you travel with kids because they are more susceptible to injuries and illnesses. Dependent children of up to 21 years of age with no preexisting condition can be covered in a family travel plan while travelling with their parents.
Personal Liability Coverage – While traveling, if you are involved in an accident that causes personal injury or damage to somebodys property, travel insurance plan come to your rescue.
Emergency Assistance – Disasters can happen without a preamble. In the event of a natural disaster, an act of terror, or an airline strike, no one, not even the airline, will help you. Your travel insurance will come to your rescue in such troubling times. From finding an alternate mode of transport to reimbursing any non-refundable payments, your insurer will look out for you.
How to Choose Best Travel Insurance Plan
While planning a vacation with your family or a group of friends, you probably always think about adventure, entertainment, camping and fun and often overlook the likely eventualities like an accident, a sudden illness or a medical emergency. Below mentioned are couple of points which you need to consider before purchasing the best plan for you or your loved ones:
Companys Credibility – Company’s goodwill says a lot about the company’s reliability. Trust is an important factor to be considered while selecting an insurance provider. It ensures that the insurer will fulfill its promise(s) on time.
Affordability – Costs has its own significance when it comes to selecting a travel plan. Minimum premiums are convenient to pay, easy on your pocket, and they make travel policies affordable.
Hassle-free – There are so many policies available in the insurance market. What makes you finalize a plan is its convenience. Buying a travel policy should be easy and hassle-free.
Destination – Your destination decides the premium that you have to pay. Countries where health care is expensive, the premium for the coverage would be higher for obvious reasons.
Duration of The Travel – The premium is directly proportional to the duration of your journey. You have to a pay higher premium for a longer duration. Frequent flyers are recommended to go for annual multi-trip plans, as it is economical.
Purpose of the Travel – If your trip revolves around adventure activities, then it is preferable to opt for a special plan, as it would provide you with an adequate coverage. If your trip is relaxing one and it includes sightseeing and trying out different cuisines, then basic travel insurance plan would be sufficient for you.
Age – Premium for a travel plan for a 25 years old person would be different from the premium for a 45 years old person. Senior citizens can select plan(s) that provide coverage for senior citizens which include pre-existing illness. The premium will be increased as the cover expands.
Sum Insured – The premium depends on the sum insured. If sum insured is high, then the cost of the policy will also be high and vice-versa.
Coverage – Having add-ons or not having add-ons determines your premium. The advantage of having add-ons is that it widens the umbrella of your coverage, which is good.
Claim Settlement Percentage – It determines the number of claims that have been settled by the insurance company. The percentage has a lot to tell about the company’s settlements. Claim settlement percentage gives an edge to the company over its competitors.
Solvency Ratio – The solvency ratio determines the steadiness and the fiscal goodwill of the insurance provider. It depicts the insurers’ ability to generate business without becoming bankrupt.
Whatare the Inclusions ofa Travel Insurance Plan?
The coverage offered by a travel plan varies from one insurer to another. The sum assured and coverage depends on the various add-ons selected and opted plan. Here are the inclusions that come with various travel plans:
What are the Exclusions ofa Travel Insurance Plan?
There are some common exclusions to a travel policy such as:
Flights/trains missed due to local protests/civil war
Expenses incurred due to local protests/civil unrest
Pre-existing conditions leading to hospitalization
Baggage delay that is less than 24 hours
Damage/loss of keys
Note:The exclusions differ from onepolicy to another. It is best to compare quotes of travel plans online using travel plans comparison feature and choose the best travel policy with minimum exclusions.
There are travel insurance policies that offer add-on benefits when you opt for additional coverage. It can be opted for by the insured in case, he/she needs an extra layer of protection. These additional covers can be purchased by paying an extra premium amount to the insurance company.
Here are a couple of conditions for which optional coverage for travel plan can be purchased.
High-risk/adventure sports activities
Coverage for travel to war-prone destinations
Enhanced Accidental Death and Dismemberment (AD&D) cover
Third-party supplier insolvency
Eligibility Criteria for Buying Travel InsurancePolicy
Mentioned below are the eligibility criteria for purchasing travel insurance plans.
Family Travel Insurance Plans – These travel policies cater to 2 adults up to 60 years of age and their 2 children up to 21 years of age. One can enjoy floater benefits with family travel policies.
Student Travel Insurance Plans– Generally, most of the travel plans caters to students between 16 to 40 years of age who’ve enrolled themselves in an institution abroad for their higher education. Existing Indian students who are at a foreign university qualify to buy a student travel plan.
Senior Citizen Travel Insurance Plans– Elderly individuals up to 85 years of age don’t need to undergo any medical screening to purchase a senior citizen travel plan.
Schengen Travel Insurance Plans – Adults up to the age of 70 years and infants older than 90 days are eligible to get Schengen travel insurance coverage. The objective of travel should be either tourism or business.