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What does a travel insurance covers?

​​The concept of general insurance might be new in India, however, the same is growing in a very fast pace. Unlike early days, people in India today are not only investing in life insurance policies, but are also putting in their hard earned money in other segments of insurance; like health, motor, house, etc.
 
One of such segments of general insurance, which is gaining popularity is travel insurance​. With easy and fast modes of travelling, the number of travellers has gone up worldwide. And like many developed countries, India too is seeing a rise in awareness with respect to travel insurance. The frequent travellers, these days don't mind chipping in those extra pennies in a trip insurance.
 
So what is it that is grabbing one and all attention towards travel insurance? Today, for a passenger, why is a tour insurance as important as his passport, travel ticket or money bag?
 
Here's the answer -
 
Like many other insurance policies, travel insurance too has its own benefits. In general, a trip insurance can provide security and coverage against more than 10 aspects of life. Let's take a look at some of the different areas of coverage of insurance:
 
1) Medical expenses: If the insured faces some emergency like illness, disease or injury during his trip, his travel insurance policy shall cover the medical expenses which may include, out-patient and in-patient treatment, cost of transportation,  doctor prescribed lab tests, repatriation of mortal remains- in case of death.
 
2) Dental treatment: A medical expense like dental care can weight really heavy to your pocket. So much so that a dental treatment in foreign land can make you bankrupt. However, someone with a travel insurance need not worry about such an expense, as travel insurers generally cover the cost of dental care while you are travelling. Nevertheless, if your sole purpose of travel is dental treatment, then you would need to check with your travel insurer, for it may not bear the cost in such a case.
 
3) Loss of passport: What would you do if you lose your passport while travelling? Well, if you have a tour insurance, you have least to be worried about. Most of general insurance companies incur the cost of obtaining a duplicate or fresh passport, if you lose the original while travelling.
 
4) Loss of baggage: While offering a travel insurance, almost all general insurance companies compensate the loss of checked-in baggage on a trip. You can also check with your travel insurer for coverage against delay in transportation of checked-in luggage.
 
5) Personal accidents: Accident is definitely something one would not like to even anticipate about while travelling. But travel insurance companies do consider even this aspect of life. Any tour insurance policy generally provides security and coverage against any kind of accidental injury, while the insured is on a trip. In the event of loss of life, due to accident, the insurance company shall be bound to pay the insured sum against the policy.
 
6) Financial emergency assistance: If you fall prey to situations like theft, mugging, robbery, dacoity of money, your trip insurance shall cover the cost of the same.
 
7) Trip cancellation: In the event of cancellation of your trip due to unforeseen illness, unfavourable weather conditions, technical fault of the airline, etc.  a travel insurance stands incurs the sum insured.
 
8) Home burglary: While you are on a tour, if your house in India falls prey to burglary, your travel insurance shall provide you a sum of the insured amount as a compensation towards the loss.
 
However, it is important to note that different insurance providers shall have different coverage plans. Also, in case you file for a claim, the compensated amount shall not exceed the insured sum. Though, travel insurance can come for your rescue in times of crisis, while you are travelling, the same may turn out to be a nightmare f you don't read your policy wording before buying.