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When you decide to travel, you aim for a hassle-free trip. Choosing travel insurance is one of the best ways to ensure the same. A travel insurance plan offers comprehensive coverage against travel and medical emergencies that may spoil your trip without the same. So, it’s better to be safe than feeling aggrieved about such unfortunate incidents. Whether you are traveling for business purposes, studies or personal vacation, it has become necessary to include travel insurance in your checklist while planning.
Having travel insurance is a must while traveling if you don’t want an additional financial burden due to unforeseen emergencies (medical conditions, accident, baggage loss, etc.) on your trip. A travel insurance plan covers you in the following situations. Have a look!
On this page, we are going to discuss everything about travel insurance so that you can understand its importance while traveling. Let’s start right away!
Table of Contents
When you are in a foreign land, anything can happen as there is no guarantee that your trip will go as per your plan. To ensure protection in such a time, travel insurance comes to your rescue as it provides financial cover in unforeseen situations. Let’s check here some of the reasons why you should buy travel insurance.
It could be costly to get proper medical treatment if you fall ill in a place new to you i.e. foreign location. The reason being the hefty cost of medical treatment in foreign countries compared to India. Travel Insurance provides coverage against expenses incurred on the hospitalization due to an illness or accident up to the sum insured limit.
During travel, your flights can get rescheduled or canceled due to different reasons such as medical emergencies, bad weather, etc. In such conditions, travel insurance will cover different charges related to your trip.
If you are found responsible for property damage or injury suffered by someone else (your kid or any other family member), your travel insurance will cover all the expenses related to such personal liabilities.
One of the common instances during a journey is theft or replacement of luggage or any other valuable items. If you don’t want such instances, you should buy Travel insurance as it provides coverage against the same.
Travel insurance companies offer plans that protect not only you but also your family. You can choose the sum insured on an individual and family floater basis according to your convenience.
Many countries don’t allow individuals to travel without travel insurance. So, if you are traveling to a country that doesn’t permit travel without travel insurance, you will need to buy one first.
We are showing the list of top travel insurance plans along with their key features in the table shown below.
Travel Insurance Plan | Sum Insured | Features and Benefits | Premium Amount |
---|---|---|---|
Bajaj Allianz Travel Insurance | Up to $1 Million | Trip Cancellation Medical Expenses Trip curtailment Trip Delay (up to 12 hours) Medical Repatriation Personal Accident Cover Home Burglary coverage | Starting from INR 206 |
Bharti AXA Worldwide Overseas Travel Insurance | Medical expense up to $ 2,00,000 | Dental Treatment expenses Personal accident cover Daily Allowance in case of Hospitalisation Daily Allowance in case of Hospitalisation Loss of Passport and documents Trip Cancellation and Interruption | - |
Care International Travel Insurance | Medical evacuation expenses up to $50,000 | In-patient care hospitalization Common carrier accidental death Repatriation of mortal remains Trip interruption Trip Delay cover Personal liability | - |
Cholamandalam MS Comprehensive Travel Insurance | Up to $ 5 lakh | Flexible Sum Insured to choose from Extension upto 185 days for a single trip Coverage without sub-limits for persons above 60 years of age Optional Domestic Travel Cover Covers loss of passport and international driving license | - |
Digit Travel Insurance | Adventure Sports Trip Cancellation Medical Cove Flight Delay Delay of Checked-in Baggage Loss of Passport Daily Emergency Cash | Starting from INR 206 | |
Future Generali Overseas Travel Insurance | Up to $ 5 lakh | Coverage of medical expenses Baggage delay and loss Loss of passport Personal accident | Starting from INR 348 |
IFFCO TOKIO Travel Insurance | Up to USD 5,00,000 | Dental Treatment Daily Allowance Loss & Delay of Baggage Loss of passport Personal Accident Cover Financial Emergency Assistance Personal Liability | Depends on the number of individuals covered by the policy, the age of the travelers, the destination, the duration of the trip, and the plan you choose |
National Insurance Overseas Mediclaim Employment and Studies | Up to $5 lakh | Illness cover Medical evacuation Medical emergency reunion Cotingency insurance Repatriation | - |
New India Assurance Overseas Mediclaim Travel Insurance | Up to $5 lakh | Medical expenses coverage Loss of checked-in baggage Delay of baggage Loss of passport Personal liability | - |
Oriental Mediclaim Insurance | Ranging from INR 50,000 to INR 5 lakh | Medical expenses coverage Outpatient coverage Multiple plan options Business and holiday travel cover for policyholders | - |
Reliance International Travel Insurance | Up to $5 lakh | Trip delay cover (6 day max) Missed connections Compassionate visit Home burglary insurance Total loss of checked-in baggage | - |
Royal Sundaram Travel Insurance | Starting from 50,000 USD up to 10 lakh USD | Medical Expenses (including Medical Evacuation) Sickness Dental Relief Daily Cash Allowance Accidental Death & Dismemberment (24 hours) Accidental Death & Dismemberment Repatriation of Mortal Remains Delay of Checked-in Baggage Loss of Checked-in Baggage Loss of Passport Personal Liability Trip Delay Hijacking Benefit | Depends on your age, country of visit and number of days of travel |
As mentioned earlier, travel insurance acts as a safety measure for travelers (flying domestically and internationally) against any medical or any other crisis to provide peace of mind. But before choosing travel insurance, it is necessary to look at its key features and benefits mentioned below.
During travel, you may fall ill for which you would need hospitalization on an emergency basis. Travel Insurance ensures that your finances remain intact in such a medical emergency. Your travel insurance plan will cover the treatment expenses during the hospitalization so that you can recover without any worry.
If an insured person dies or faces permanent disability due to an accident during his or her travel, travel insurance provides cover against such unfortunate events.
Travel insurance also protects you financially in case you miss your flight because of some unforeseen events. You will get coverage against official cancellation charges and additional transportation costs incurred by you.
If the insured person is being hospitalized for more than 5 days due to any injury or illness during the trip, Travel Insurance covers the expenses for the social assistance of an immediate family member to the place of such an event.
If a policyholder loses the passport during his or her trip, travel insurance will reimburse the expenses incurred on seeking a duplicate or fresh passport. Other than this, you will also get coverage in case you lose your valued personal belongings during travel.
With a travel insurance facility, you will get coverage against the cost incurred for an ambulance (or any other emergency transportation) during the trip. The policy will also cover the costs of transporting the remains of the deceased insured person back to the country of residence or place of origin.
Considering the high-cost medical treatment of COVID-19, travel insurance has started to cover the expenses incurred while you are on a trip abroad. However, you should check whether it provides COVID-19 coverage or not before choosing the policy.
A travel insurance policy also covers losses or damages happening due to theft, fire or burglary to your home in India, while you are traveling abroad. It ensures that you enjoy your trip without any worry about the safety of your home.
Travel Insurance will also cover the expenses incurred on dental treatment while you are on a trip.
One of the best things about travel insurance is that individuals can choose a suitable plan by paying an affordable premium. The premium of a travel insurance plan depends on several factors mentioned below. Do check!
Before choosing a travel insurance plan for yourself, it is crucial to understand its different types to make an informed decision. Insurance companies provide different plan types to cater to people from different backgrounds with diverse needs. We are showing all of them below. Please check!
As you can see from its name, this type of travel insurance protects you from emergencies on a domestic level i.e. within India. You can purchase this policy for yourself as well as your families if you are traveling within India. This policy provides coverage against medical emergencies, flight delays or cancellations, etc. Some insurance companies also offer multi-trip policies that cover you for the entire year. So, if you are a frequent flyer, you should choose such a policy.
In contrast to domestic travel insurance, this type of travel insurance covers individuals and their families traveling overseas. An International travel insurance plan provides coverage for baggage or passport loss, flight cancellation/delay, personal accident, medical expenditures, etc.
This policy is exclusively designed for students who are traveling abroad for further studies. Students can get comprehensive coverage against the expenses incurred on medical emergencies, passport loss, medical evacuation, sponsor protection, etc.
This policy is mainly for individuals who are 60 years and above. Senior Citizen travel insurance is just like health insurance as it protects them from unforeseen medical emergencies, dental treatment, repatriation of mortal remains, medical evacuation, etc.
There are 26 countries in the European Area which forms the Schengen Area. Schengen Travel Insurance is an exclusive plan that provides coverage to people traveling to one or more than one country. As per the law, any traveler traveling to a Schengen Country needs to procure a Schengen visa for which you need this particular travel insurance.
We are showing key points that you should keep in mind before choosing travel insurance below. These points will help you make the right decision. Have a look!
Awareness about the exclusions of travel insurance will help you make an informed decision about the right plan. We are showing them below. Please check!