Travel Insurance

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Travel Insurance: An umbrella for your rainy vacation
My neighbor was traveling to Australia and had planned his trip for months. He had booked the travel tickets, made hotel accommodations and had planned his itinerary to the last possible detail. When I asked whether he’d bought a travel insurance policy, my friend didn’t have an answer. Though his travel agent had recommended that buy travel insurance, he ignored the plan. He felt that travel insurance was not necessary for his trip but he was wrong.
A travel insurance policy is a must when you are going on a vacation or a business trip. The policy provides coverage against a range of contingencies that can be faced when you travel. The coverage under the policy is so relevant that the plan proves to be a handy addition to your travel. Here are the common coverage features which travel insurance plans have –

  • Coverage for medical emergencies

The most important coverage feature of a travel insurance policy is the coverage for medical emergencies suffered when traveling. If you face an injury or a sickness on your trip and require hospitalization, the travel insurance plan would cover the costs incurred in treatments and hospitalization. Besides covering for medical treatments, travel insurance plans also cover medical evacuation and repatriation of mortal remains. Since medical expenses are very expensive in international countries, having a travel insurance plan cover such expense is a blessing.

  • Coverage for accidental death and disablement

Travel insurance policies also have coverage for personal accident. Accidental death and disablements are also covered under the plan. If you suffer such contingencies on your trip the policy pays a fixed benefit to compensate for the financial loss suffered.

  • Coverage for third party liabilities

It often happens when you are traveling that you might cause a physical injury to another individual or any physical harm which might result in the death of an individual. Similarly, you might also damage someone else’s property unknowingly. When these mishaps occur you face a financial liability to pay for the loss caused to a third party. A travel insurance policy covers this liability. It pays for the financial compensation that you face in a third party liability.

  • Coverage for baggage related contingencies

If you lose your checked-in baggage or your checked-in baggage is delayed or misplaced by the carrier, your travel insurance policy would pay you the compensation to face the financial trouble suffered due to such baggage related contingencies. You would get financial compensation which would help you replace the personal belongings which your baggage contained.

  • Coverage against trip cancellations

Imagine planning the entire trip and then an emergency occurs which forces you to cancel your trip. Wouldn’t you be incurring heavy financial losses on the travel tickets and hotel reservations that were booked in advance? You would and if it was an international trip, the loss would be considerable enough to put a dent in your finances. A travel insurance plan helps in this regard too. Trip cancellation, curtailment or delay is covered under travel insurance plans. It compensates for the financial loss suffered on advance travel bookings when your trip is canceled or curtailed. 


  • Coverage for loss of passport

A travel insurance plan also covers loss of passport if you lose your passport when on a trip. The insurance company pays you the compensation which allows you to get a duplicate passport without incurring any financial loss.

  • Other coverage benefits 

The above-mentioned coverage benefits are found in almost all travel insurance plans. Besides these benefits, there are other coverages features too which make the plan comprehensive in nature. These features include the following –

  • Flight delay
  • Missed flight connection
  • An allowance in case of a hijack
  • Compassionate visit by a family member if the insured is ill and hospitalized in another country 
  • Emergency cash advance in case of theft 
  • A daily cash allowance if the insured is hospitalized for 24 hours or more while on a trip, etc.

Why buying travel insurance in India is recommended?
A travel insurance plan should be a very important component of your trip and here are the reasons why –

  • The plan provides coverage for your whole family. You, your spouse and your dependent children can be covered under the plan if you are going on a family trip. Moreover, there are senior citizen travel insurance plans for your dependent parents too which would provide coverage to them if they are traveling with you or if they are going on another trip.
  • In Schengen countries, a valid overseas health insurance plan is mandatory for traveling to them. So, if you are visiting a Schengen country you would need a travel insurance plan as it provides health insurance cover overseas.
  • There are different types of travel insurance plans for different traveling needs. There are international travel insurance plans, domestic plans, plans covering specific countries, student travel plans, annual multi-trip plans for corporate employees or frequent travelers, etc. Thus, whatever type of trip you undertake you can ensure your trip with any of the suitable travel insurance plans available in the market.

Read more: Find out the different types of travel insurance plans offered by insurers in India

  • When you are traveling to an unknown city or country, having a travel insurance plan comes in handy. It helps you in seeking assistance for your contingencies in a foreign land. The claim service providers give you complete guidance and assistance in case of any claim that you face on your trip.
  • The premiums for the plans are also low and affordable making it easy for you to avail coverage without burning your pockets. You can calculate the premiums using the travel insurance premium calculators before buying the plan.

Given the coverage benefits and the importance of travel insurance policies, my neighbor was proved wrong in ignoring to buy a travel insurance plan. You should, however, not make the same mistake. Understand travel insurance meaning and choose a travel insurance policy to make your trip more secure.