Travel insurance is a financial product that provides full coverage against many uncertainties that may arise during a trip abroad.
Travelling is fun. It relieves all of the tension you've been experiencing over the last several days as a result of your rigorous work schedule, family commitments, and other factors. But what happens when you travel to a new region with limited finances and your journey gets delayed or disrupted by unforeseen circumstances? Here is where travel insurance comes in handy.
What is Travel Insurance?
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Travel insurance is a financial product that provides full coverage against many uncertainties that may arise during a trip abroad. You can choose single or multi-trip plans covering domestic and international trips. There is also specialised coverage under the name of student travel insurance. This product suits those who wish to study abroad.
What is Travel Health Insurance?
Travel health insurance, or travel medical insurance, covers expenditures for treatment costs up to the limits specified in your policy. A policyholder receives coverage for an injury, medical condition, an unexpected illness, and more. However, complications due to a pre-existing disease are usually excluded from coverage; some insurers may offer coverage in life-threatening situations or an emergency, but there is a cap on the amount. Your plan may also cover trip cancellation/interruption due to a covered medical reason.
Travel health insurance is specifically designed to cover a policyholder’s health issues; travel insurance offers more comprehensive coverage, including lost baggage and trip-related disruptions.
What does travel insurance cover?
Let’s dive into the coverage a travel insurance plan offers.
1. Trip Cancellations
After conducting thorough research, you prepared for your trip, booked your accommodation, and made reservations for various entertaining activities. However, on the day you were supposed to board your flight, you learned of the death of your close one and were forced to postpone or cancel your trip. In this case, you will not receive a refund for the bookings.
Insurance comes to your rescue here by compensating for the travel-related loss incurred due to trip cancellation.
2. Medical Emergencies
Health concerns are unpredictable and might occur when you least expect them. But have you ever considered what might happen if you were sick while on an international trip? What is the cost of treating the condition?
Access to healthcare facilities overseas is pricey. For example, if you pay around Rs 1000 for treatment for normal cold and flu in India, treating the same ailment in the United States will cost roughly 70-80 USD, equivalent to a few thousand rupees.
Travel insurance ensures you receive the best possible treatment for any medical ailment that arises while travelling without incurring anything from your pocket.
3. Medical Evacuation
Suppose you want to visit a country known for its natural beauty but not for its infrastructure. You become severely ill there, but due to poor health facilities, you need to return to India for medical care. Travel insurance can help here by providing medical evacuation services.
4. Delayed Baggage
You arrived at your destination after sitting on the flight for 18 hours. As soon as you arrived at your destination, the airline staff's mistake resulted in delayed luggage.
In this scenario, the insurer's role is to reimburse you for all the costs you incurred until you receive the baggage of necessities.
5. Dental Treatment
If you have an accident while visiting a new destination and injure your teeth or jaw, your insurer will pay for the treatment.
You will also be paid for the expenses connected with infections, abscesses, and lost bridgework. However, there is no reimbursement for medical expenditures associated with cleanings, implants and dentures, whitening procedures, missing fillings, and periodontal scaling.
6. Flight Delays
Assume your flight was scheduled to take off at 10:00 a.m. on the day of departure but was delayed due to bad weather and took off at 11:50 p.m. During the delay, you extended your hotel stay and paid for your lunch and dinner.
In this instance, the insurer will compensate for the inconvenience by paying the necessary expenditures.
7. Loss of Passport
A Passport is one of the most important documents you will need for your international journey. You will face several legal issues if you misplace it and do not notify the Embassy.
Travel insurance can help in such situations by providing the financial aid you need to obtain a duplicate Passport and assisting you in completing the necessary paperwork.
8. Repatriation Coverage
During a trip while participating in adventurous activities, there is a possibility of the policyholder being involved in an accident that results in immediate death. Travel insurance can help a family member in this situation by arranging and paying for the costs of returning the mortal remains to India.
Conclusion
Travel insurance is crucial for both national and international trips. The policy provides peace of mind by covering occurrences such as lost Passports, misplaced luggage, medical emergencies, and flight delays.
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