Travel Insurance
Travel insurance shields you from various risks and financial setbacks during trips. It covers missed flights, delayed baggage, medical emergencies, evacuations and more. It's often mandatory for tourist entry in many countries. It is imperative to have a comprehensive international travel insurance for every trip.
Highlights of Travel Insurance Plans
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Travel Insurance - Everything You Need to Know
Types of Travel Insurance Plans Available in India
It covers a range of activities like loss of documents, missed connection flights, a vast network of cashless hospitals globally, and more.
These cover the expenses incurred on missing a flight, canceling a trip due to some emergency, loss of luggage during transit, and so on.
A single-trip policy starts coverage the moment you board your flight and ends when you return home. On the other hand, multi-trip insurance extends coverage for all trips taken during the validity of the insurance plan, which is one year in most cases.
An individual travel insurance plan is for people traveling alone or with their families, while group travel policies are used by companies for their employees traveling for business
These plans cover students against medical emergencies abroad, the cost of canceled trips, and others.
These plans cover the costs and liabilities of medical emergencies and other health concerns including emergency evacuations.
These plans are designed to meet the challenges and travel emergencies faced by senior citizens while traveling.
Key Benefits and Features of a Travel Insurance Plan in India
Travel Insurance Features:
Protects against last-minute trip cancellations due to medical emergencies.
Coverage for lost or delayed check-in baggage.
Covers in-patient and out-patient medical costs during domestic and international trips.
Protection against the loss or misplacement of your passport.
Covers injuries or death caused by accidents while traveling.
Protection against home burglaries while you are away.
Travel Insurance plan – Inclusions
Covers expenses due to baggage delays or loss during transit.
Coverage for passport replacement costs.
Compensation for trip cancellations and delays.
Coverage for unexpected cancellations beyond your control such as bad weather, natural disasters etc.
Includes hospitalizations and medical emergencies for both domestic and international travel.
Treatment for dental injuries may also be covered.
Compensation to the insured for a permanent disability during an international trip or to the insured’s family in case of his/her demise during the trip.
Covers expenses for medical evacuations if needed.
Covers damages caused by the insured to third parties or their property.
Travel Insurance plan – Exclusions
Costs related to pre-existing health conditions are not covered.
Injuries caused intentionally are not covered.
Costs from health issues due to traveling against medical advice may not be covered.
Travel for medical treatment is often not covered.
Emergencies due to intoxication from substances like alcohol or drugs are usually excluded.
Costs from injuries during unlawful activities are not covered.
How to Select the Best Travel Insurance Plan in India?
With the gaining popularity of travel insurance in India, there has been a rise in the number of insurers offering comprehensive travel plans, however, it can be a bit overwhelming Here are some factors that you may consider while opting for the best travel insurance plan:
Research and compare plans to find the one that fits your coverage requirements in terms of the coverage and features.
Check with the travel company if your plan has limits on trip duration for coverage.
Ensure the insurer covers most destinations for flexibility in your travel plans.
Disclose any pre-existing medical conditions to ensure complete coverage.
Understand the coverage and claim limits to avoid any surprises.
Check coverage for theft during your domestic or international trip and burglary at home if needed.
Ensure coverage for delayed or lost baggage.
Confirm coverage for expenses due to missed flights.
Factors Affecting Travel Insurance Plan Premium
Here are some factors that may affect your best international travel insurance travel premium:
Higher sum assured leads to higher premiums.
Coverage for pre-existing conditions increases the premium.
Older individuals/senior citizens may have higher premiums.
Multi-trip policies for frequent travelers may cost more than single-trip plans.
Plans covering high-risk activities may have higher premiums.
Travel Insurance Claim Procedures
The below steps can be followed to raise a travel insurance claim:
Notify Your Insurer immediately after encountering a situation that may lead to raising a claim
Collect all relevant documents to support your claim like claim form, proof of travel, medical records, police reports, receipts and invoices, photographs, travel documents, witness statements, etc.
Read your policy thoroughly to understand coverage limits, exclusions, etc. to make valid claims
The next step is to submit your claim along with all required documentation to the insurer
The insurer will assess the validity and scope of your claim once you submit it
They will decide after evaluating your claim and will approve and settle it. If not approved, you may discuss the issues with the insurer
If your claim is approved, you will be paid an amount as per the terms of your policy
Documents for Claiming Travel Insurance Plans
Claiming your best international travel insurance India is easy if you submit the correct documents to your insurer. Following are some documents required to file a travel insurance claim:
How to Reduce Travel Insurance Premium
Use these simple tips to lower the cost of your travel insurance policy:
When you customise as per your requirements, you only have to pay for the coverage you need.
If you’re a frequent flyer, buying multi-trip travel insurance valid for a year is more affordable.
If you’re travelling with your family or in a group, buying a family or group travel insurance policy is more cost-effective.
How to Choose the Best Travel Insurance
Frequent travellers can opt for a multi-trip policy while occasional travellers can choose a single-trip plan to cover the journey.
Different countries and regions have different insurance requirements. Also, varied trip locations will cost you differently. Pick a policy as per your desired destination.
The travel insurance policy is calculated as per your stay’s length. You can opt for a policy with a duration that slightly exceeds your total trip so any sudden changes are accommodated without additional charges.
If you’re going alone, you can opt for an individual travel plan or choose a family plan if you’re travelling with your loved ones.
Read about the claim procedure, claim settlement ratio, and claim limits before you buy the travel insurance policy.
How to Buy a Travel Insurance Policy
Select between single trip, multi-trip, and student travel insurance plans.
Select your trip destination and mention whether you’re travelling from India.
For a single trip the policy can be for any number of days. For a muti-trip policy, the policy tenure is for one year and the journey duration must be selected from pre-defined days of 30, 45, 60 or 90 days.
Mention the date of birth for every traveller going on the journey.
Add other details like your name, gender, and mobile number.
Check out the shortlisted policies, compare their benefits and premium and pick one that best suits your requirements.
Pay for the policy online using credit/debit cards, UPI, wallets, or net banking.
Provide documents for ID proofs, address proof and travel proof.
The proposal is submitted to the insurance company for approval. Once approved, you will receive the policy by email.
Eligibility Criteria for Travel Insurance
| Plan | Eligibility |
|---|---|
| International Travel Insurance | Travellers should be between 6 months and 70 years |
| Schengen Travel Insurance | Only for Schengen countries with a minimum coverage of EUR 30,000 |
| Family Travel Insurance | Ideal for 4 members – individual, spouse, and 2 dependent children. Adults – aged between 18 and 60 years, kids below 21 years |
| Senior Citizen Travel Insurance | Ideal for seniors of 61 to 90+ years |
| Student Travel Insurance | Aged 16 to 35 years, enrolled in a foreign university |
| Corporate Travel Insurance | Aged between 18 and 70 years |
| Multi-Trip Travel Insurance | Adults – 18 to 70 years, Kids – 3 months and above. Eligible for multiple trips in a year |
| Single-Trip Travel Insurance | Minimum entry age: 1-day, Maximum entry age: No bar |
*Prospectus whose place of residence is in india
