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Insurance Basics

Taylor & Francis Group

Types of travel insurance coverage in India

It’s not just the cost of medical care that travel insurance covers, but all sorts of unfortunate situations like loss of baggage, flight delays and need for legal aid. Read on to know the types of coverage you should ask for.
 

Whether you’re a solo globe trotter, an enthusiastic part of a family vacation, or a busy business traveler, travel abroad is exhilarating. But it can expose you to a series of unprecedented challenges and unforeseen situations.

A good, reliable travel or holiday insurance policy will ensure that you have all your bases covered, so that there is no loophole which can deplete your budget later on.

Types of travel insurance

There are three categories which emerge as the top contenders for any traveler’s attention.

  • Medical coverage
  • Luggage protection
  • Trip protection
  1. Medical Coverage/Medical Evacuation

A good medical coverage policy would mitigate any chances of incurring high medical costs when you are away from your home country. This usually covers minor to severe injuries such as dismemberment, urgent dental pain, etc. This can be hugely helpful to afford medical care internationally, especially considering the falling value of the rupee.

A variant of such a policy is medical evacuation coverage. For example, imagine yourself trekking in the Amazon jungles, wherein you get stung by an insect. The end result: you have a swollen foot, which needs instant medical attention. Considering your location, a medical evacuation in a helicopter would be the best way out of the ordeal. However, given the situation, you would most likely be stripped bare if you had to foot the cost yourself. In such a case, apt medical evacuation coverage would take care of the incurred costs, allowing you to get treatment without losing sleep over a messy budget.

Related: How to claim health insurance [Infographic]

  1. Luggage protection

Travelling abroad with some really expensive items in your luggage, are you? Afraid something might get stolen?

Well, if you have luggage protection cover by your side, you don’t need to worry about covering the cost of your stolen luggage during transit or travel. This also includes the loss of game-changing documents like your passport, your visa, etc.

Some insurers, along with luggage insurance, also provide travel assistance. There might be times when you urgently need a travel agency, or need to carry out an emergency cash transfer, or require information about the country you are travelling to, such as immunization requirements, or even legal advice. Insurers like TATA AIG offer travel assistance in such cases.

Related: Travel insurance myths you’ve got to stop believing

  1. Trip Insurance

This option bails you out when, due to unforeseen circumstances, you have to cancel your trip at the last minute. If you don’t have travel insurance, you will be left to bear the brunt of paying flight delay or cancellation charges, hotel cancellation charges, etc. These cancellation charges can often eat up a considerable amount of your allocated budget.

A word of caution

Before signing on the dotted line, it’s advisable to check the coverage points, the scope of the insurance as well as the costs which you would need to bear in case of any issues.  Be sure to do your research well and confer with people who have a little knowledge about travel insurance policies, including your insurance agent.

 
 
 

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