Travelling is an integral part of today’s lifestyle. Not only for teenagers but travelling is a deal we all enjoy. At the same time, it is hard to plan and manage a trip considering all the risk factors of today’s reality. There are a lot of things that could possibly go wrong and in that case, you need someone to guard you against all odds. This someone is the travel insurance plan which acts as a personal bodyguard during any travel, be it national or international.
But buying travel insurance or any other insurance is a big deal and requires you to take time and determine which insurance company or plan is best for your needs. One of the important points is to choose an insurance company.
The company should be the one you trust the most and which is a proven reliable source. Next, you have to ensure the budget for the policy which then determines the sum assured and premium for the insurance plan. You must choose a plan that matches your budget and is under your reasonable price range. Benefits and other Add-Ons for the policy are also necessary to compare and research before purchasing the policy so that the policy can correspond to your requirements.
Benefits of Travel Insurance
1.Medical Service / Emergency Evacuation
One of the most significant parts of travelling is to ensure proper health and safety. While travelling it can be hard to sometimes maintain such proper health care if you are travelling out of the country. Also, if you are travelling alone you might need to be extra careful of your health.
Travel insurance with a type of medical cover provides full medical services to the insured while travelling. The cover ensures treatment and expenses for small and major injuries during travel. The medical service for travellers travelling internationally is one of the most helpful features of the travel insurance policy.
Along with the medical service, the plan also offers emergency evacuation for travellers who find themselves trapped in a medical emergency where they might need urgent medical care. In that case, an emergency evacuation service is provided to the insured so that he/she can safely return to their country.
2. Luggage Security
Travelling abroad or within the country can be confusing and a hectic task with multiple flight boarding and security checkpoints. It is often accounted that luggage and other belongings are misplaced or lost during travelling and this can be a big turn off if you are travelling to your favourite destination. Travel insurance with luggage security offers assistance in such a situation by covering the expense of the lost/stolen luggage. This expense is offered even if the luggage is stolen outside the airport and during the journey.
However, some people won’t bother getting a luggage security insurance for their travel policy thinking it’s not important to lose clothes and accessories but what the luggage security offers to repay is more than just materialistic stuff. Imagine if you are in a foreign country and you have lost your passport or any other important document along with your luggage.
In that case, you would need assistance to cover up for the lost documents and travel insurance with luggage security is the solution. Luggage security includes help related to crucial documents lost during travel.
3. Trip Insurance
Travelling is a task which comprises several other tasks related to travelling in order to plan for a complete trip. No matter where you are planning to travel or with whom, what you need is to plan your journey including two-way tickets, hotel reservations, cab bookings and other things which you might need. And with the online booking system, everything around the world is easy to book and available on digital screens.
But imagine if because of some unfortunate event you have to cancel your trip. In that case, you may lose all or some of your money in all the bookings and this can cause a financial burden. But if you have a trip insurance plan then you can avail benefits including the return of expenses due to cancellation. This type of insurance is one of the most common and popular travel insurance in the country.
Also Read-Policy Bazaar Travel Insurance
Types of Travel Insurance
1.Domestic Travel Insurance
This is the travel plan for travellers of the age group 18 – 65 years in which they can secure their travel by buying a domestic travel insurance plan. This plan offers benefits such as cash, medical care, accident support, robbery/loss, luggage security etc.
2. International Travel Insurance
Most people travelling abroad prefer having an international travel plan so that they can go for the trip with a clear and safe mind. The plan offers all basic travel benefits along with emergency evacuation and other urgent services for overseas passengers.
3.Business Travel Insurance
Business travel is one of the most used travel insurance plans usually by big corporations and business firms so that they can assist their employees with safe travel. It provides safety to the employees and helps them save some money if they are a frequent traveller.
4.Student Travel Insurance
This plan is available for those students who are staying abroad for academic purposes and belong to the age group of 16 – 35 years. It helps the students against all possible travel emergencies and gives them extra benefits for their stay.
5.Older People Travel Insurance
As most of the travel insurance type exclude older people who are above the age of 60, the insurance company designed this travel plan specifically for older people belonging to the age group of 61- 79 years so that they can get all the basic benefits of the travel insurance plan. In addition, they get special services for their travel such as cashless medical care, hospitalisation etc.
6.Family Travel Insurance
If you are planning a trip with your whole family and wants to have a safe and sound trip then there is no need to buy separate travel insurance plans for each and every member of the family. Instead, you can buy this family travel insurance plan which covers you, your spouse and children.
7. Long term Insurance
This type of travel insurance plan is modelled for those travellers who either because of work or otherwise travel oftentimes. In that case, purchasing a travel plan for each and every trip is a hectic task as well as expensive. Therefore, this long- term insurance plan protects the insurer for a fixed longer period of time such as one or two years.
Best Travel Insurance Plans in India 2020
The travel insurance plan by Religare company has some unique features where it provides In-patient and Out-patient service in which the treatment expenses for the insured are given by the insurance company.
Along with this the plan also covers cancellation charges and gives emergency evacuation service in the time of some medical crisis. However, there are some factors which must be considered before buying this plan such as the exclusions. The policy doesn’t provide any service for illnesses such as AIDS/HIV or any kind of harm due to self-injury and drugs.
TATA AIG –
Tata itself is a big brand name in the country the travel insurance plan by TATA AIG is one of the most popular travel plans. The plan covers expenses for the loss or stolen luggage and other important belongings of the insured. The plan gives 15 days free for look period on an annual multi-journey.
While the medical cover for Tata Aig travel insurance has included those diseases and illnesses which the insured already possesses. The policy furthermore excludes some of the factors that may result in some kind of injury and those are injury or hard due to pregnancy or childbirth, suicide and any kind of terrorist attack.
Bajaj Allianz –
Again one of the most leading insurance company in the country Bajaj Allianz delivers a comprehensive travel insurance plan for both national and international travellers.
The policy covers all medical expenses as well as gives reimbursement if there has been any loss of luggage or any other important document. The policy has a system of auto claim settlement which makes the claim process for the insured quite easy and quick.
One of the most important benefits of this plan is that it gives protection for your house/apartment in case of a robbery or fire. However, the insurance policy strictly prohibits any injury claim made under the influence of the military and sports. The plan also doesn’t include compensation for any pre-existing illnesses.
Thus Travel Insurance is important as it is an ideal partner during your trip because it provides medical assistance overseas along with other benefits such as theft, cancellation and delay of flights and many more.