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Detailed Understanding Of Travel Insurance

What is it all about?

Travel insurance​ in India, in general terms, tend to protect all holiday expenses against adverse events like interruption and cancellation while helping to reimburse all medical expenses, damage or loss of property, including transit delays. Compensation is provided to travelers if they are required to cancel or have their travel interrupted. Moreover, they are also likely to be covered for emergency medical evacuation, medical treatment and other situations.

Travel insurance and its different categories

  • Cancellation and delays including curtailment: In regards to cancellation, reimbursement could come into effect, in case, the traveler has booked and paid for holidays, however, is not able to embark due to injury, death of any close member of the family or personal illness, adverse weather conditions, terrorism, airline strikes, sudden unemployment, bankruptcy, sustaining serious damage caused to home due to flooding or fire and making it uninhabitable or jury duty. In case of interruption, insurance providers would pay up money to policyholders if they had to cut their foreign trip short because of adverse conditions, sudden unemployment, bankruptcy, airline strikes, weather, terrorism and the like. While for flight delay, travelers are reimbursed for food, hotel, clothing expenses. Few plans also tend to cover costs that are associated with catching up cruise, if another delay has caused traveler to miss on embarkation.

  • ​​Medical and health reasons: Medical evacuation provides travelers with emergency transportation either to local hospital or near to their home. If family members have been covered with similar policy, then they can have the option to return home. In case, of health and medical reasons, the traveler is reimbursed with emergency and medical as well as dental costs. Almost every travel insurance plans tend to work by having the traveler reimbursed after paying locally for treatment. Generally, it is between 7 to 10 days that claims are paid. Pre-existing conditions get covered by many policies, if policy gets purchased within 21 days from when the traveler had made initial deposit or payment.

  • Death of traveler: Accidents by air flight covers dismemberment or death. It provides high coverage amount because of low likelihood of this type occurring. Common carrier often covers dismemberment or death when travelling on any public transport like plane, taxi, bus, train, ferry.  Accidental death covers dismemberment or death during any time of the trip and offers lowest coverage amount because of high risk.

  • Damage or loss: In case of damage of rental car, travelers are reimbursed for loss or damage. This type has been designed to permit traveler to decline CDW (Collision damage waiver) coverage provided by car rental agencies. However, liability coverage is a must. Baggage loss offers reimbursement for damaged, stolen and lost personal items. It is often restricted to trip duration and not just confined to lost or damaged baggage by the airline. Few policies may place limits on item types to be claimed like laptops, sporting goods and jewelry.​

Therefore, travel insurance in India is a must for every traveler to ensure adequate protection.