Ensure Coverage for Baggage Loss, Trip Delays & Passport Loss

Published By: Business Standard​

Published Date: 18-09-2023

A recent survey by Policybazaar found that only 25% of Indians purchase travel insurance well in advance when making travel arrangements. Most wait until the last 3 days before their trip, despite understanding its importance.

When choosing travel insurance for overseas trips, ensure your policy covers these essential benefits: COVID-19 protection, medical emergencies, trip cancellation and curtailment, baggage loss and passport theft. Also, consider the following extra important coverages: coverage for pre-existing ailments, coverage for outpatient visits, trip extensions, personal accident protection, home burglary insurance and multi-trip plans for business travellers who travel often.

To select the right policy, assess your specific needs based on destination and activities, review coverage limits (especially for medical expenses), understand policy exclusions, compare prices from multiple providers and check for 24/7 emergency assistance services.

Choose destination-specific coverage, as healthcare costs vary widely. Higher coverage limits are recommended for expensive destinations like the US, Canada and Western Europe. For Schengen countries, ensure your policy meets the minimum €30,000 coverage requirement.

Experts advise maximising protection by including coverage for checked baggage loss, trip delays or cancellations and passport loss. Consider insurance that provides emergency financial help if you are robbed without any finances. Having personal liability coverage is also beneficial since insurance protects against any claims made by third parties for injuries or any loss of property that might happen while you are travelling.

Rather than waiting until the last minute to acquire insurance, remember to do it early on in the vacation planning process.