What is Travel Insurance And Meaning Tips
What is Travel Insurance And Meaning Tips
The answer to “What is travel insurance” is a type of insurance product that protects you and your family against contingencies such as ticket cancellation, illness or death, accident, loss of luggage, etc. during travel.
This type of general insurance is available separately for domestic and international travel. So, by spending a certain amount on travel insurance, you can manage the uncertain financial costs that may arise during your trip.
There are four broad types of travel insurance plans in India. They are Domestic Travel Insurance, International Travel Insurance, Medical Travel Insurance, and Senior Citizen Travel Insurance. Let us understand them in detail one by one.
Domestic travel insurance covers you against contingencies and medical emergencies during your travels within India. Common uncertainties that can occur during domestic travel include the delay or cancellation of your flight, loss of luggage in transit or theft, medical emergencies, and harm to third parties during travel.
International travel insurance protects you against uncertain and unexpected financial losses while traveling abroad.
Medical travel insurance only protects you against emergency treatment during travel of a medical nature. Inclusion and exclusion policies differ from one policy to another.
Travel insurance for senior citizens is exclusively for senior citizens (60 to 70 years). This policy can provide cashless hospitalization and additional coverage specific to their needs.
Apart from the four types of travel insurance policies mentioned here, there are also some sub-categories of domestic and international travel insurance. These clauses are as follows:
Single trip insurance is one-time travel insurance that covers an individual’s one-way or return trip. Check or uncheck it while booking flight tickets online.
Multi-trip insurance is a travel insurance policy for frequent travelers (domestic or international).
If you are traveling in a group, a group travel insurance plan will protect you. The maximum number of persons is different for different policies. Buying group travel insurance is economical when traveling with a large family.
Lastly, there is educational travel insurance for students going on educational trips for a maximum duration of 30 to 45 days (depending on the insurance provider).
You can buy travel insurance from your tickets, tour reservations, or directly from the insurance provider. In the former case, you choose a predefined policy. However, let’s say you buy travel insurance directly through an insurance provider. If so, you can opt for a plan that offers maximum coverage benefits.
With a comprehensive list and variety of travel insurance policies, you can choose the one that best suits your needs and avail of its coverage benefits.
What are the benefits of buying travel insurance?
Key benefits of covering your trip with a suitable travel insurance policy include:
1. Protection against Trip Cancellation or Interruption
Sometimes your trip may be canceled due to various reasons. This is especially true in the post-Covid-19 era.
Trip cancellation or interruption coverage may come in handy in this case. With this coverage, you (the passenger) can be reimbursed for prepaid and non-reimbursed travel expenses.
Some acceptable reasons for cancellation or delay are weather-related delays and cancellations, illness, death of your immediate family member, international conflicts, and other such emergencies.
These acceptable reasons for cancellation and interruption may differ for different insurance providers.
This option and baggage cover are usually available when booking flight tickets online.
2. Luggage cover
Sometimes, an accident may occur with your luggage during your flight. Theft or loss of luggage can occur during travel, especially while on a plane. Thanks to luggage protection in travel insurance, financial losses can be easily offset against these uncertainties.
3. Medical coverage
Like any general insurance that can cover your medical expenses, travel insurance has a medical insurance benefit. This benefit is available for both domestic and international travel insurance. Medical coverage benefits in travel insurance include medical bills and hospitalization expenses during travel, injury and illness treatment, and ambulance charges.
Includes You can also get cashless hospitalization with this coverage benefit.
4. Accidental death cover
When you book your train tickets online, you have the option to purchase travel insurance at a minimum cost of Rs 0.3 to Rs 0.6 per person. This insurance protects your family from financial loss.
f Accidental death and other related expenses. This is specially provided under the rail travel insurance plan.
You can also purchase this coverage for your flight with deductibles depending on the insurance provider.
5. Minimum deductions
One of the essential benefits of buying travel insurance is that there are minimal deductibles related to contingencies during travel. These exemptions include:
Any financial loss (medical, baggage, or cancellation) due to negligence, alcohol, or drug abuse.
- Cost of Ayurvedic or Homeopathic treatment.
- Some cosmetic surgery.
- Treatment of pre-existing conditions.
- Self-harm or suicide.
- Visit restricted or open sites.
These are typical exclusions and are not covered by travel insurance. To find out about your travel insurance exclusions, read the terms and conditions of your policy before choosing.
To Finish
Travel insurance is one of the essential components of your travel plans. It insulates you financially against the uncertainties of delays, cancellations, baggage loss, and medical expenses during your journey. Travel to destinations all over the world for leisure and business by spending a minimal amount on travel insurance. Travel insurance ensures that your trip is hassle-free. It protects your travel budget from unaccountable emergency expenses that hit your pocket.