Traveling overseas has become very common be it for leisure, business trip or for educational purposes.
Though there is lot of excitement for such trips/visits, one should be adequately be prepared to take care of any contingencies that may arise. There could be an illness or accident that may take out all the excitement. Also the the fact that the medical cost in others countries are usually very expensive. There could also be other eventualities like baggage loss, passport loss, monetary loss due to pilferage, robbery, natural and man-made calamities etc. which can also affect your travel plans and the finances. For example, a very recent volcanic eruption tranded people at airports across the world or situations like the Egypt crisis.
Travel insurance provides you and your family medical, financial and other assistance in case of an emergency while traveling abroad. Though for countries like UK, USA , Austria, Greece, Portugal, Spain, France, Germany (Schengen) wherein travel insurance coverage. is mandatory, we strongly recommend a Travel insurance cover for a safe, worry free and a perfect memorable trip abroad.
With the range of travel insurance plans covering leisure and business travel, you will find adequate coverage for a premium that suits every budget. Today Insurance companies have a specialized product portfolio with travel insurance plans customized for like:
- Family Floater
- Senior Citizens
- Multi/Annual Trip for business travelers.
Another important aspect that one needs to understand is the kind of coverages offered under these policies. The most common travel eventualities covered under travel policies are:
- Emergency Medical expenses and emergency evacuation/repatriation expenses
- Accidental Death or Permanent Disablement
- Flight delay
- Loss/delay of checked baggage, Loss of personal documents
- Personal Liability
Benefits of travel insurance Travel Insurance is the most important thing during travel eventualities and the following few benefits underline this fact.
- Medical costs: The most important benefit covered by the policy is emergency medical expenses in case you contract an illness/disease/accidental injuries. The policy pays for any medical care you need such as room & boarding expense, fees of physicians, ambulance service etc.
- Repatriation: For any reason if one cannot continue his/her journey after Hospital stay or medical treatment then the insurance pays towards the cost of return to his/her own county along with medical authorities* (*only if gravity of situation demands it). This also covers the cost towards transport of one's remains if he/she die abroad.
- Hospital cash benefit: This cover provides daily incidental costs while one is undergoing hospital treatment.
- Loss of baggage/personal documents: This cover provides cover to your belongings during travel. If you lose your baggage or personal documents like identity card, passport, ration card etc., you can claim the costs towards its re-issuance.
- Flight delay: If the flight is delayed from scheduled departure time in excess of the deductible then the insured will be reimbursed for any essential purchases.
- Personal Liability: This cover provides third party liability coverage if one involuntarily causes damage to third party person or any property
- Hotel Accommodation: If the insured is hospitalized as an inpatient then we will pay for the costs of hotel accommodation for the insured’s family member.
- Hijack Distress Allowance: One gets a daily allowance up to the limits specified if the common carrier in which he/she traveling gets hijacked
All these benefits may vary depending on the policy. We request you to read the policy document carefully. Other things that you should consider while evaluating travel insurance policies are:
- Look for policies that offer highest reimbursement towards
- Personal Accident
- Medical Expenses
- Loss of passport
- Personal Liability
- Trip Delay
- Checked baggage delay
- Financial emergency assistance
- Offers Accidental Death & dismemberment
- Dental care expenses
- One should also look out for below additional benefits available before buying a policy:
- There are policies offering cover for hotel accommodation
- Policies that cover adventure sports cover.
- Policies covering Missed flight connection
- Policies offering reimbursement towards compassionate visit (Return fare for an immediate family member in case of hospitalization extending to more than seven consecutive days)
- Policies offering reimbursement in special conditions for any illness & any accident
- Policies offering cover against trip cancellation & interruption
The premium for travel insurance depends upon the Insured’s age, country of visit, trip duration (no. of days) and the coverage opted for. For example, a 30 year Indian national will have to pay Rs. 705 premium under Silver worldwide plan of HDFC ERGO for 5 days single trip.
Purchasing travel insurance Customers are finding it convenient to explore details of destinations, flights, hotels and places of interest online, and also to purchase tickets or make bookings online. Today it is possible to spend a few extra minutes and purchase a travel insurance policy online as well. A travel insurance policy ensures complete peace of mind and allows customers to enjoy the travel experience fully, with the assurance of support being available in a foreign land in case of unforeseen eventualities.
Bon Voyage & Have a safe travel !!!