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Travel Insurance
Travel Insurance is a policy that helps cover any medical expenses or losses incurred while travelling either in one’s own country or abroad. Temporary Travel Insurance can be organised at the time of booking to cover the duration of that specific trip. A multi trip policy can also be availed to cover unlimited trips during a specified trip.
Coverage of Travel Insurance
Medical ailments may force you to cancel your trip, which will result in heavy cancellation penalties. Such scenarios are covered to a certain degree by Travel Insurance
Losses incurred due to missing flights, delays and missed connections
Lose of Baggage could create serious issues. Travel Insurance helps in covering the cost of baggage transport to the intended port. In case baggage is permanently lost, travel insurance will help us cover the necessary costs.
Medical ailments sustained during the trip can result in heavy bills. Travel Insurance helps tide over such costs.
Some Travel Insurance policies help cover the losses incurred if an airline, cruiser or hotel defaults on their commitment.
Acts of Terrorism or War are also covered by Travel Insurance.
Factors to consider while buying Travel Insurance
The destination is the first major factor one must consider while buying travel insurance. Medical expenses in countries like USA, Canada and Greece are expensive. Therefore the sum assured must be high if one is travelling to one of these countries.
The duration of the trip is another important factor one must consider. The longer the trip, the higher the sum assured
If you’re involved in adventurous activities like trekking, skiing and water sports a higher travel insurance policy may need to be availed
The coverage of the insurance policy in the country(s) you are travelling to is vital. Details such as Online Services, Hospital Network Coverage, Claim Processes, Toll Free Numbers and so on need to be checked before buying the policy.
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