Travel Insurance

Travel insurance policies normally cover the financial defaults arising from issues related to travel supplies, medical costs, and other losses suffered due to traveling. These policies cover both domestic and international travel. People can also arrange travel insurance on a temporary basis so that they can cover only the trip.

Multi trip policies are also available - these plans normally cover any number of tours within a particular time frame. These plans differ in terms of coverage and can include areas with higher levels of risk like winter sports.

Travel Insurance Coverage

The travel insurance policies normally cover the following areas:

• Medical emergencies such as accident or sickness
• Accidental death, disablement, or injury benefits
• Evacuation on an emergency basis
• Costs of funeral outside the country
• Repatriating remains
• Baggage, travel papers, or personal effects lost, damaged, or stolen
• Returning a minor
• Baggage delayed and substitution of necessary items on an emergency basis
• Cancellation of trips
• Missing flight connection owing to schedule of the carrier
• Interruption of tours
• Delays in travel owing to weather conditions

These plans also cover additional areas like the following:

• Pre existing conditions like diabetes or asthma
• Extra accidental death and dismemberment coverage
• Sports that are deemed to be risky like scuba diving and skiing
• Insolvency of a third party supplier like airline or hotel that accept only non refundable payments
• Traveling to countries where the risk factor may be higher due to situations like war, terrorist acts, or some sort of natural disaster

This coverage is provided but, normally, in exchange of additional premium. Interested proposers can also get separate insurance for the above mentioned situations, which may, at times, be not covered by insurers. However, travel insurers normally do not cover any illness or injury that may have resulted from usage of drug or alcohol.

Pregnancy costs are often covered by the insurers if such clients travel within the initial trimester. However, coverage after that period is provided at the discretion of the insurer.

The amount of coverage that a person needs in case of travel insurance is dependent on factors like duration of journey, and the proposer's age. If the stay is a longer one then the required coverage amount will go up and if the proposer is of an advanced age then the coverage amount will need to go up as well.

Benefits of Travel Insurance

The travel insurance providers often offer useful services and these are available, more often than not, on a round the clock basis. These services include emergency travel assistance and concierge services.

Need of Travel Insurance

Travel insurance comes in handy especially during international travel. The medical expenses outside India are normally pretty high. There are some countries where the doctors may not check a person if he or she is not covered in a travel insurance policy.

Types of Travel Insurance

Following are the various types of travel insurance available nowadays:

• Single trip travel insurance
• Boat travel insurance
• Multi trip travel insurance
• Airline travel insurance
• Long stay travel insurance
• Backpacking travel insurance
• Medical travel insurance
• Student travel insurance
• Cruise travel insurance
• Post office travel insurance
• Group travel insurance
• Business travel insurance
• International travel insurance
• Annual travel insurance
• Family travel insurance
• Ski insurance
• Flight travel insurance
• Cruise trip insurance
• Trip cancellation
• Senior travel insurance

How to buy Travel Insurance

There are three ways to purchase travel insurance. The most common among them is to get coverage for each trip. These policies can be availed if the proposer does not travel frequently. People can also go for the multi trip policies but normally these plans require each trip to last less than 30 days. If someone travels often he or she can opt for annual policies.

Travel insurance - Points to remember

Before availing a travel policy an individual needs to ask him or herself the following questions:

• Will they be traveling outside the country?
• Can they pay the expenses for going back in case there is an emergency?
• Are they looking to take part in any extreme sport?
• If they can afford expenses of medical treatment?

Following are some factors that the proposer needs to be aware of while buying travel insurance:

• Getting acquainted with cancellation policies followed by providers of travel services such as tourism cruise lines and hotels
• Knowing the price schedules, terms, exclusions, and conditions of the travel plan availed
• Reviewing existing agreements and policies of credit card providers as in certain instances the credit card companies also cover car rental liabilities, lost luggage and such other issues

Top Travel Insurance Policies of India

ICICI Lombard

ICICI Lombard offers 3 travel insurance plans - Overseas Travel, Senior Citizen, and Annual Multi Trip. The Overseas Travel is a detailed plan that provides coverage for both unexpected non medical and medical expenses.

The Annual Multi Trip plan is for people who frequently travel outside the country. It covers non medical and medical expenses. The Senior Citizen plan is for people of an advanced age going outside the country. This plan, too, covers medical and non medical expenses.

Reliance General Insurance

The Overseas Travel Insurance Policy of Reliance General Insurance is available for covering global travel. It has two versions - one that includes US and Canada and another one that excludes these. These plans provide the following coverage:

• Medical expenses including evacuation and transportation
• Loss of passport
• Dental care costs
• Total loss of checked baggage

The Annual Multi Trip Travel Insurance Policy is for frequent international travelers and covers them for a year. Its scope of coverage is similar to the Overseas Travel Insurance Policy.

The Senior Citizens Travel Insurance Policy protects the insured from the high expenses of medical treatment outside the country. The coverage scope of this plan is similar to the Overseas Travel Insurance Policy as well.

Tata AIG Insurance

The Overseas Travel Insurance policy of Tata AIG Insurance is a round the clock policy that covers medical costs and loss or delay of baggage among others. The Domestic Travel Insurance plan covers missed departure, reimbursement of lost ticket, and accommodation expenses owing to delay in trip.

The Student Travel Insurance is for students who are traveling outside India for higher studies and covers areas like sponsor protection, study interruption, two way compassionate visit in addition to sickness and accident reimbursement and personal accident

HDFC Ergo

The HDFC Ergo Travel Insurance plan covers the following:

• Emergency medical expenses
• Loss of passport
• Emergency medical evacuation
• Loss of checked baggage
• Repatriation of remains
• Delay of checked baggage
• Emergency dental costs
• Personal liability
• Hospital cash
• Financial emergency assistance
• Accidental death and permanent total disability
• Hotel accommodation
• Personal accident
• Hijack distress allowance
• Flight delay

Bajaj Allianz

Bajaj Allianz offers the following travel plans:

• Individual Travel Insurance
• Corporate Travel Insurance
• Family Travel Insurance
• Travel Asia
• Senior Citizen Travel
• Swadesh Yatra
• Student Travel Insurance

Last Updated on 09/13/2012

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