Travel Insurance: All You Need to Know!

Various general insurance companies offer tailor-made plans. Because every destination requires different requirements. Also, every insurance company strives hard to see that all the requirements are met and every minute details are covered. Features like a total loss of checked-in-baggage, no medical test for a person above 80 years age, cashless hospitalization etc. are covered by most of the international travel plans.

Different insurance companies offer comprehensive travel insurance to the senior citizens for stress-free travel around the world. It provides benefits like medical cancellation of the trip, burglary back home when you are busy enjoying your vacation, loss of baggage, pre-existing illnesses cover, emergency medical expenses, personal liability, emergency financial assistance, dental treatment, flight cancellation, etc.

A student travel insurance plan offers medical as well as financial support to the students travelling abroad for higher studies. A student might face sudden medical emergencies or financial problems while studying in the foreign land. This might interrupt their studies as well. Student travel insurance plan would cover any such emergencies throughout the duration of studies without any hindrances.

If you are travelling to any Asian countries or Southeast Asian countries, then Asia travel insurance comes into the picture. Here benefits offered include distress allowance, loss of passport, emergency cash assistance, emergency medical cover, third-party liability etc. Asia travel insurance offers a comprehensive coverage that would take care of any uncertainties.

Many employees have to visit different countries for business trips. To safeguard them from any unforeseen situations, the employers offer them with corporate travel insurance plans. These plans can be tailor-made as per the employee’s requirement and offers medical assistance as well as travel-related cover to the insured. This covers injuries, loss of baggage, emergency evacuation, and flight cancellations. etc.

There are vacations where you would like to go with your friends and relatives in a big group to have the most memorable and fun vacation. Group travel insurance offers 20 or more individuals with benefits like loss of baggage, trip delay or curtailments, loss of documents etc. It is essential for every group member to go through the features and benefits of the travel plan because the travel includes a big group.

Anyone travelling to Schengen countries for a maximum 90 days like Austria, Belgium, Czech Republic, Denmark, Poland, Finland, Estonia, France, Greece, Iceland, Germany, Latvia, Lithuania, Italy, Hungary, Malta, Norway, Luxembourg, Liechtenstein, Portugal, Poland, Spain, Slovakia, Slovenia, Sweden and Switzerland, need to mandatorily have a Schengen travel insurance or a health insurance in addition to the Schengen Visa.

Domestic travel insurance covers travel within India. Individuals are covered for loss of baggage, medical expenses, 24/7 customer support, medical evacuation, emergency cash assistance, personal accident cover, loss of baggage etc. It offers coverage to the individual policyholder. Any person above 18 years and below 65 years can opt for this plan.

• International travel insurance - offers coverage for 2 adults up to 60 years and 2 children up to 21 years.
• Family travel insurance - offers coverage for 2 adults up to 60 years and 2 children up to 21 years.
• Student travel insurance - offers coverage for students aged between 16 and 34/40 who wish to travel abroad for higher studies.
• Senior citizen travel insurance - offers coverage to senior citizens aged up to 85 years. These senior citizens do not have to go through a medical test.
• Schengen travel insurance - offers coverage for adults up to 70 years and newborn babies over 90 days. However, the travel should be only business or tourism.

Travel insurance plans offer coverage from all possible emergency crisis during transit. Different insurers form their plans on certain parameters. Those parameters could vary from one plan to another. A quick comparison would help you understand if the features and benefit of your plan to align well enough with your requirements and preferences. You would be looking for a plan that is pocket-friendly at the same time provides adequate coverage for loss of baggage, trip delays, or even personal accident. It is good to have several quotations in front of your eyes, their advantages, terms and conditions. It can help you compare, shortlist and nail down the perfect policy that is suitable for you.

Make sure your chosen travel insurance policy gives you the ultimate carefree journey.

1. Pre-existing Medical Conditions: Check the terms that each insurance provider has about pre-existing conditions.

2. Limits on Trip Duration: If you are traveling abroad, for how many consecutive days would you be covered? That’s one of the questions you need to ask yourself when comparing plans. If you exceed the pre-determined limit even a single day, it could invalidate your insurance plan.

3. Levels of Cover: Figure out what your needs are and how much cover would serve the purpose of purchasing a travel insurance.

4. Sports and action-packed holiday: If you are an adrenaline-junkie and engaging in risky sports or activities during your trip is on your mind, get covered for that as well.

5. Personal belongings: If you are negligent, your insurer could refuse to compensate upfront. Most policies only cover theft or accidental loss of cash if you were pick-pocketed or it was sneaked from your safe deposit locker in your room.

6. Flight cancellations: You are all set to fly on a dream journey, but due to illness your trip is cancelled. Your travel insurance can cover your cancellation expenses.

7. Missed flight: It may not be your fault if you miss a flight, but ensure your insurer covers you for a new flight.

8. Exclusions: Sometimes certain destinations could be excluded from your policy. Compare policies to check if they cover destinations that you would most likely be your weekend getaway.

9. Additional benefits: Make your travel insurance policy more appealing by adding extra benefits such as free support, easy approval, hassle-free claim process, free cover for children.

Speak to our Coverfox advisory team to understand your options before settling for one.