People travel for different reasons. Sometimes the trip is for pleasure. Sometimes you travel to reconnect with a long-lost friend or to visit family members. With the excitement of travel comes some responsibilities towards yourself and your loved ones. Acquiring a travel insurance policy. is one such responsibility.
It is pertinent to mention that accidents know no vacation and can spoil your travel plans. This explains why travel insurance is an important step which you can ignore at your own cost only.
On Choosing Travel Insurance
By purchasing a travel insurance policy, you are looking to buy safety cover for yourself, which would provide you monetary relief if something unfortunate happens during your trip. The following points will help you understand why travel insurance is important:
• Medical Adversities: The most important part of a travel insurance policy is that it provides for emergency needs. If you fall sick or get injured during your travel, paying for medical facilities can be a tough task. One of the primary reasons for travel insurance is that you can get the cost of hospitalisation, treatment, ambulance, etc. reimbursed, but to the extent of the sum insured amount only.
• Specialised Policies: Insurance companies are usually sceptical about issuing life/health insurance issuing products to senior citizens. When it comes to travel insurance, insurance providers look to provide customised policies for senior citizens. They recognise the fact that the needs of a senior citizen while travelling could be different from that of a younger person. They look to include specialised services such as wheelchair assistance at the airport, under their offered plans. It could be slightly more expensive but provides a hassle-free experience during your travels.
• Baggage Woes: There could be instances, wherein you reach your desired destination of travel, but your accompanying baggage doesn’t. Sometimes the airline defaults or damages your baggage during transit. It is in such situations that you realise the importance of travel insurance. Such an insurance plan compensates you for the loss. In case of complete misplacement of your luggage, you can look to put in a claim cumulative of the amount of items held within that particular bag.
• Cashless Hospitalisation: Typically, insurance providers have a strong network with hospitals. If you were to get treated for any medical ailments in a hospital which comes under the panel of institutions within your travel insurance provider’s network, you wouldn’t have to pay at all. The settlements are carried out cashless between your insurance provider and the hospital. This is especially beneficial in international travel cases in which the exchange rate disparity and payments in cash can be very expensive.
• Money Back Advantage: You may travel on a particular date, but the preparations begin much before that day. You will look to pre-book your accommodation, sight-seeing destinations will be paid for before-hand and, of course, your mode of transport tickets! After spending a considerable amount, there could still occur a situation that can spoil all your travel plans and you have no choice but cancel all the bookings. Provided your reason for cancellation is legitimate, your travel insurance provider would refund the money you spend on these bookings/reservations.
• Documents Processing: The importance of travel insurance can also be reflected in other situations as well. In case of loss of your essential documents such as passport, visa, driving licence etc., your travel insurance provider handholds you through the retrieval process or guides you to request for a new copy for the same. It is important to note that this facility is provided if the loss of documents is not a direct result of your carelessness.
Now that you are aware of the importance of travel insurance, buy a travel insurance plan for your next trip. You should also know that travel insurance is a must for travelling to certain countries.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.