Types of Travel Insurance: Travel Insurance ie Travel Insurance provides coverage for different types of emergency situations, such as: Medical expenses. When you travel abroad, travel insurance policy becomes very important. This insurance policy is purchased to cover the scheduled dates of travel. At the same time, it does not allow your travel to stop because it is necessary to have a travel insurance policy in many places, if it is not there, then you will not be able to go there, such as the Adventure Palace.
Types of Travel Insurance in India
Don’t be in a hurry while choosing the best travel insurance policy for your family and yourself. For hassle free and safe travel, choose travel insurance wisely and save your money with good cover.
What are the types of travel insurance?
1. Individual Travel Insurance:
When you are traveling alone, you need extra protection and immediate assistance, especially in case of hospitalization or other emergency situations.
2. Family Travel Insurance:
This travel insurance plan is specially designed for those families who travel together. The insurance plan covers the family of the policy holder under the family travel insurance plan. This includes the policyholder, his/her spouse and children.
3. Senior Citizen Travel Insurance:
As health insurance plans are available according to age, travel insurance for senior citizens is also present along with the best plans for persons above 70 years of age. Elderly people prefer to travel after retirement and often choose to travel alone or in pairs. This type of planning saves them from uncertainties.
4. Corporate Travel Insurance:
Corporate Travel Insurance plans provide best service for businessmen who travel frequently for corporate functions. Covered under Corporate Travel Insurance Scheme: Medical Expenses, Flight Delay, Loss of Baggage, Missing Connecting Flights, etc.
5. Student Travel Insurance:
This scheme has been specially designed for the students. It has a special feature of extension of validity for a specific period of time, mainly 2 years.
6. Group Travel Insurance:
This travel insurance policy is best for people traveling in groups. This type of travel insurance is mostly organized by tour organizers. Under group tour, visits to historical sites, museums, industrial training are kept.
7. Domestic Travel Insurance:
While traveling within India, domestic travel insurance is very good.
8. International Travel Insurance:
International travel insurance plans cover foreign travel, travel, vacations, acquaintance visits, studies, business meetings, and much more.
9. Schengen Travel Insurance:
For people traveling to Schengen country, a special insurance policy is required, ie Schengen Travel Insurance Policy. They protect you from any kind of financial loss
10. Single Trip Travel Insurance:
Single Trip Travel Insurance Plan is beneficial for those who travel abroad once. The plan allows insurance coverage from the beginning of the journey till the return of the policyholder and accompanying beneficiaries within the country’s borders.
11. Multi-trip Travel Insurance:
Multi-trip travel insurance plan is designed for those travelers who travel more than once or repeatedly in a year
Why is a travel insurance policy needed?
Medical expenses in foreign countries are usually 3 to 5 times more. About 25 million luggage is mishandled by airlines every year. Travel scams have become very common in tourism-rich countries. Hence, it is important not only to buy a travel insurance policy, but also to choose the right insurance policy.
If you buy a travel insurance policy online , you are protecting your trip from all financial losses. Forget about financial backup and traveling abroad without any adequate insurance coverage, as it can prove to be very fatal in case of some unfortunate event. You may suffer a lot, which has no prior experience.
Loss of passport or missed flight scares tourists a lot. In many other situations too, without insurance cover you feel scared, so always have a backup with a travel insurance policy and stay safe.
Features of Travel Insurance
Coverage for Flight Related Issues : Even though airplanes are considered one of the safest ways to travel, accidents don’t just knock before they happen. In flight-related matters involving incidents like delayed travel or hijacks, a travel insurance policy covers you for expenses incurred during adverse circumstances.
Cashless Treatment: No one likes to go to the hospital, but if we do not come by asking problems, then we should make arrangements for our safety in advance, you may have to face a lot of loss financially in the hospital. You can cover such situations with a travel insurance policy and avail the cashless facility. You can avail this service only in those hospitals which are empaneled under the insurance company.
Trip-Related Adversities: Sometimes some reasons may force you to cancel your trip, stop and go for more important work. Buying a travel insurance policy can save you from losing money in such a situation. This includes non-refundable flight tickets, hotel bookings, etc. which you can cover.
A Plan for Every Age Group: Different age groups have different travel preferences. Where older persons require more travel assistance and are also vulnerable to theft and other similar incidents. With this facility, you can buy a travel insurance policy specific to your age group with suitable benefits and coverage.
Emergency Cash Advance: Your travel insurance policy covers cash advances in case of emergency. Stuck abroad due to hospitalization, loss of credit card/cash and traveler’s check can be troublesome. With an insurance policy, you can get a cash advance after a specified time.
Coverage for Baggage/Passport Loss: The travel insurance policy chosen by you may not get your passport or baggage back, but you will be covered for the loss. Also, it will cover the expenses incurred for getting a new passport.
Emergency evacuation plans for frequent travellers: The frequent traveler will receive benefits for one year or for multiple trips.
Protects you against home burglary: Thieves are often on the lookout for homes that become vacant due to a home trip, but you shouldn’t let this hinder your travel plans. Home burglary coverage ensures that you get proper compensation in case of home theft in your absence.
One cover for the whole family: Get a single travel insurance plan for the entire family instead of buying different travel insurance plans for different age groups.
Automatic Claim Settlement on Trip Delay: You will not need to make a claim to get the insurance benefit. For events like travel delays or flight cancellations, the amount covered will be auto-determined.
What is the coverage in travel insurance?
Baggage cover: Under the loss of baggage, you are compensated for the permanent loss of the baggage that you were traveling on the basis of checked-in baggage.
Baggage Delay: In travel insurance coverage, baggage delay is covered for clothing, toiletries, other essential items worn in baggage. When necessary, baggage delays can be stressful and sometimes end up being lost.
Flight Delay: In the event of flight delay and re-booking of a new flight, unplanned additional expenses are reimbursed or booked by the insurance company, if possible. In some situations the travel insurance company may offer to book a new flight for you if there is a delay, but you should notify the insurer immediately.
Trip Cancellation/Deduction: Trip cancellation or deduction can happen due to various reasons. With a travel insurance policy, you can be sure that your ticket expenses will be covered and you can get reimbursed for the amount. Such a cover becomes even more important when the tickets booked by you are non-refundable. Riots, protests, strikes, natural calamities, death in family, bad weather etc. Travel can be canceled or cut due to any kind of emergency. But with a travel insurance policy, you can get reimbursement for the ticket cost.
Bounce Flight/Hotel Booking: In such situations, the hotel or flight seat already booked by the passenger is not available on arrival. In such cases, the insured is reimbursed for a pre-booked hotel room or airline booking if the preferred accommodation is not available on arrival. Travel insurance coverage can be claimed for the same if opted for under a travel insurance policy.
Loss of Passport: In case the bag is stolen and the passport is lost, you are covered under the travel insurance policy. To the extent of the sum insured, the fee for obtaining a new passport is borne by the insurance company.
Hijacking: In rare cases, this policy cover can cover you for emotional distress if your plane is hijacked during the journey. This type of policy cover is usually not opted for by the policyholder, but while traveling to unknown destinations, getting this cover can be of great help.
Credit card theft: This is a cover that is a must have while traveling abroad. If and when your credit card is stolen or lost, notify your insurer immediately. Notifying the insurance provider entitles you to receive an emergency cash advance. The details thereof will be provided to you by the counseling agent or the information will be shared with the beneficiary as appropriate.
House burglary: Under this point of travel insurance coverage, if you are out on a vacation or business trip and your home is broken into, your insurer will pay for the damages and damages caused by you in that robbery. However, the amount you get depends on your insurance policy and the extent of the cover
Personal Expenses: The personal liability clause covers you from a claim made against you for bodily injury, damage to property or damage caused to any other person during the journey. Being away from the safety of your home makes it difficult to settle a situation on an unknown land. Personal liability cover protects you from such unwanted and unforeseen situations.
Medical Expenses: Compensation for personal injuries caused during the trip or incurred by the travel insurance company. Injuries caused by the effects of drugs or alcohol are not covered.
Interruption of studies: Under student travel insurance plans, many insurance providers cover the expenses and costs that you pay for your studies abroad. Insurance companies reimburse the tuition fee to the insured, with advance payments made to the institutions by the insured.
Dental treatment: Regular travel insurance covers emergency medical evacuation. This includes the cost incurred to repatriate the airlift, or medically equipped flying equipment, back home.
Accidental Death: Accidental death cover is the most important aspect of travel insurance plans. Any person or family member of the policyholder traveling abroad should add this accidental death clause to his/her travel insurance policy. In this cover, in case of accidental death while traveling, the family of the deceased is compensated to the extent of the sum insured.
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