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Different types of travel insurance

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Published on May 27, 2021. EST READ Time: 3 minutes

There are various travel insurances available in the market and its difficult to choose the right one which best suits your requirement. Here are the various types of travel insurances available:

Individual Travel Insurance Plan: As the name suggests, individual travel insurance is meant for individuals who wish to opt for single or multi-trips cover. This is apt for solo travellers and if you travel frequently for work purpose. Understanding the individual coverage will help you in finding out which travel insurance is best for your travel requirements.

Family Travel Insurance Plan: Family travel insurance is designed to cover your spouse, kids and parents while travelling abroad. This too can be opted for single or multi trip purposes. If you wish to know which travel insurance is best in India, then pick a travel plan that can cover your entire family for the entire travel duration.

Student Suraksha Travel Plan: For higher education if you wish to study at an overseas nation, you would require travel insurance for a prolonged period to cover costs related to medical emergencies, loss of documents, loss or delay of checked baggage and so on.

Common benefits of travel insurance policy:

• Medical expenses: Sickness or injury during a trip will not only ruin your vacation, but will cost you a hefty sum for treatment. If you have a domestic travel insurance policy, it will cover such medical expenses and provide for a cashless treatment facility during emergencies as well as make arrangements for emergency medical evacuation if needed. Its need has become more critical in times of the pandemic as the chances of falling sick are quite high. Depending on the policy wording, you can get a hospital daily cash allowance during prolonged hospitalization. In case of death of the policyholder, arrangements are made for body repatriation and in cases of permanent disability or accidental death, a lump-sum compensation is given to the nominee.

• Baggage Loss: Loss of such baggage is quite common and will send your trip for a toss. You would have to at least buy all the essentials again or take the next flight back time home. This policy covers you for loss of baggage due to theft or otherwise. An important point to note here is that policies generally cover partial loss of checked baggage.

• Flight delays and cancellation: From mechanical issues to unpleasant weather, the reasons for flight delays and cancellations are many. However, it can mean not only a loss of time and patience; you can miss a connecting flight and lose money not just for flight tickets, but also hotel accommodation. The travel insurance policy provides a cover against such risks.

• Emergency cash benefit: You are given emergency cash in case you lose travel funds due to theft.

• Affordable: The premiums for domestic travel insurance are pocket-friendly. You can easily check and calculate the premium when you buy travel insurance online.

• Choices galore:  There are several options for the policy applicant to choose from. If you travel frequently, you can opt for a multi-trip plan otherwise, you can buy it for a single trip. Similarly, if you can get a group plan if you are travelling with your family or you can get it just for yourself with a plan designed for individuals.

Common exclusions of Travel Insurance by HDFC ERGO

• Civil War or Foreign War.

• Self-Inflicted Injury, Suicide.

• Non adherence to medical advice.

• Participation in any Criminal Act.

• AIDS or HIV.

• Participating in hazardous adventure sports

Conclusion

Travel insurance plays a very important part in your trip; hence you must choose the best one as per your requirement. Read various inclusions and exclusions of the policy before buying the policy.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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