Life is all about facing the unexpected. When you are travelling, especially to a foreign country, you can encounter any of the following—illness, accident, theft of personal belongings, loss of baggage, or any other issue. The best way to minimize the risks that can play havoc with your travel plans is by taking travel insurance for yourself and your family. Let’s look at some specific scenarios that will reiterate the need for travel insurance policy.
You plan a vacation to your uncle’s farm in the northern countryside. After a few days of hectic touring, one fine morning, just as you are about to start off with the day’s itinerary, you experience a mild discomfort followed by perspiration. You realise that you have suffered a heart attack. You are rushed into emergency. What follows is an angioplasty which sets you back by a few lakhs. Add to this the cost of surgery, post hospitalisation and repatriation in an air ambulance. Your life’s savings are essentially wiped out.
Had you been covered by travel insurance, all the expenses would have been borne by the insurer and you could have easily got out of the stress and stepped on the road to speedy recovery.
You are headed to Canada to meet your friend and his family. You transit through Heathrow Airport which holds the dubious distinction of having the maximum baggage loss of flyers. Upon arrival at Toronto, you realise that your bags have not reached the airport. You’re going to end up spending a considerable amount of money on buying essentials no sooner than you land. If you had taken travel insurance, you would have been buffered against baggage loss and the insurer would have made good of the loss.
The above are the most common issues encountered by travellers and underline the importance of travel insurance coverage while planning a holiday.
Disadvantages of Not Taking Travel Insurance
Spiralling Medical Costs:
In the West, travelling without insurance is the riskiest as medical expenses and hospitalization costs are very high. With every passing day in the hospital, the costs get insurmountable. If you are not covered by travel insurance policy, you would have to pay from your own pocket or risk being flown back home in the midst of treatment.
High Repatriation Costs:
In the event requiring medical evacuation or the unfortunate event of death, repatriation is not only time consuming but also quite expensive. International Travel insurance policy from HDFC Ergo cover such exigencies and you will be safely transported back home.
Loss of property and baggage:
Thefts and baggage losses are a common occurrence. In such an event, you not only lose your belongings but have also to pay additionally to replace your belongings. With travel insurance on hand, you are indemnified against such losses.
Compensation is provided if your flight is delayed for more than 12 hours than the original scheduled departure time. Suppose a flight delay forces you to look for accommodation in a city you had not planned to visit. Travel insurance covers the cost of your hotel stay.
To conclude, going abroad without giving a thought to international travel insurance policy is not a wise decision at all. Do not compromise on the amount that you will have to shell out for the premium which is insignificant compared to the risky situations you might encounter during your travel.
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