Travel is just one of the several industries affected by the COVID-19 pandemic. The tourism sector bore the brunt of the pandemic-related lockdowns, forcing regular travellers to stay put and postpone their trip plans. However, the prolonged wait is finally over. Most countries around the world have opened doors to tourists. The tourism sector is booming again after two rough years. Everyone is eager to respond to the call of the mountains and sunny beaches after remembering the months spent locked up at home.
With some preparation, you and your family can focus on the pleasures and adventures of travelling. Travel insurance is crucial, particularly now, as it offers coverage for unforeseen medical expenditures—even those associated with the COVID-19 outbreak. You may have invested a lot of time and effort in preparing for your overseas trip; remember that travel insurance will make your vacation stress-free and safe.
With the right international travel insurance policy, you do not have to worry abouunexpected events such as medical crises, lost luggage or passports, trip cancellation, airline delays etc. You can just relax and enjoy your vacation.
What is Travel Insurance?
Despite thorough preparations, there will always be something that has the potential to ruin your trip. Theft, sickness, accidents, and airline delays are some unforeseeable travel inconveniences that might occur on your trip. Thankfully, these situations are covered by travel insurance. By covering many unpleasant situations during a trip, travel insurance ensures you have a smooth vacation.
Advantages of Having Travel Insurance
Travel insurance offers protection and a sense of security when you are away from home. Some advantages of travel insurance include:
- In case of a medical emergency, your insurer will handle healthcare expenses as per the insurance coverage. Illness does not make distinctions and might strike at any moment. You may rest easy knowing that if you become sick while travelling, your insurance coverage will cover any financial expenses you incur.
- Peace of mind: The most underrated but essential advantage of travel insurance is the sense of security that it gives the policyholder. Most of the time, going on a vacation is a way to relax and rejuvenate. Therefore, you wouldn’t want anxieties to interfere. With travel insurance, you may rest easy in the face of an unfortunate event. This guarantee is priceless.
- Refunds for cancellations: Although you may be looking forward to your forthcoming travel arrangements, there is always the chance that they may need to be changed due to unforeseen circumstances. In such a situation, you would wish to get back the money you paid in advance for the tickets, hotels etc. You can enrol in the cancellation compensation feature through a travel insurance policy. This clause guarantees enough refund for the fees you spent organising the trip if you cancel your vacation due to a valid reason.
- Loss/Delay of baggage: Your travel insurance coverage may compensate you for the amount covered if your luggage is lost or damaged
- Personal liability insurance: Accidents may occur at any time or place; they may even lead to legal action against you if you injure any third party while travelling. If you have comprehensive travel insurance coverage, your insurer will cover the costs on your behalf in these situations.
International Travel Insurance
You must insure your trips with a robust plan, especially if you are travelling abroad. Many countries have made international travel insurance mandatory for tourists. Here are some ways international travel insurance helps you when travelling overseas:
- International travel insurance covers medical diagnosis, treatment, ambulance services, and more in a foreign country. The enormous medical bills may cause you significant concern if you become ill while travelling.
- The availability of connecting flights increases the likelihood of losing your baggage when travelling internationally. Therefore, get airline insurance coverage so your lost luggage may be covered.
- The most crucial document in another country is—of course, your passport. Your insurer could help you get a duplicate passport in case you misplace or lose the original. So, choose the insurance cover wisely.
How to Choose Travel Insurance?
Unfortunately, there isn’t a fixed formula to determine which travel insurance is best for you. Also, choosing one based only on what your friend bought when visiting another country is not a good idea.
1.Consider your vacation destination and your intended purpose. Insurance policy for an overseas location desiring comprehensive coverage will differ from insurance for a traveller on a domestic vacation. Similarly, your possibilities of encountering an unexpected incident are significantly increased if you travel overseas and have to change aircraft many times. You are better off for such excursions with international travel insurance that offers you considerable coverage for things like hospitalisation costs, lost or stolen luggage, and other miscellaneous charges.
On the other hand, purchasing travel insurance that covers delayed or lost luggage may be adequate if you are on a weekend trip to a domestic location.
2. The insurance policy you choose is significantly impacted by the policyholder’s and beneficiaries’ medical histories. You don’t want to compromise the safety of your dear ones when travelling to a foreign country. Verify if the insurance covers pre-existing conditions before signing the document. It can be of little use if you need to run to the hospital while travelling.
3. Consider the coverage limitations of each item carefully before selecting your insurance policy. Even if the whole insured amount is Rs 10 lakh, the luggage claim may be limited to just Rs 5 lakh. Therefore, be careful to request an increase in baggage coverage from your insurance if you are transporting anything precious in your luggage.
4. Knowing the coverage as well as the exclusions is crucial. For instance, you could have planned for scuba diving while on the vacation, but check if injuries due to an adventurous sport are covered by your policy or not.
5. Ensure that you have read and correctly understood the insurer’s specific terms regarding the cancellation benefits of your travel insurance policy. You cannot ignore the possibility of having to cancel your trip at the last minute. It could be any of the reasons such as a disease outbreak at the destination or a medical emergency in your family.
Every traveller is concerned about how to get the best travel insurance plan to safeguard them from unexpected events in a foreign location. The terms of the coverage and exclusions will determine how different travel insurance plans are. It is crucial to understand the policy, the transparency statements, and all of the terms and conditions. Before purchasing a policy, compare those offered by various providers.
It is usually preferable to get comprehensive insurance that offers substantial financial security. You must, however, confirm the premium that must be paid. There are several websites where you may browse and compare travel insurance and quickly purchase them at your convenience.
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.