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4 Travel Insurance Types you can Choose From

Team AckoJun 15, 2021

Travelling can be a great way to bond with various people and explore the world. There are number of reasons to travel. Be it for studies, business, solo trip, vacation with your family, etc. All you would want is to make the experience amazing without any hassles. This is where travel insurance plays a major role by securing your trip financially.

Travel Insurance Types You Choose

As the travel insurance market is competitive, there are multiple types of travel plans available. To know which insurance plan suits you the best, it’s important to know the kind of plans available in the market.

Traveling to new places involve various types of risks. Robbery, accidents, medical problems, loss of baggage, trip cancellation and other such unpleasant situations could arise in any trip with any one. With the right travel insurance plan, impact of such situations can be reduced. Let’s take a look at various types of plans available for travel insurance online so that you can compare and then choose the one which best suits your needs.

1 Domestic Travel Policies

This plan provides coverage for people travelling within India. Below-mentioned major risks are covered by the policy.

➢ Flight cancellation or delay

➢ Accidents and medical emergencies

➢ Lost baggage and important belongings

➢ Personal liability which covers accidental damage caused to third party

General exclusions are:

➢ Non-medical expenses

➢ Critical illness treatments

➢ Damage due to adventurous activities like mountaineering, scuba diving, racing, water sports, underwater sports etc.

➢ Accidents under the influence of drugs and alcohol

➢ Self-initiated harm or injuries

Suitability: Person travelling within the home country is also exposed to risk during travel due to accidents, medical issues, weather extremities causing delay and interruption, robbery, etc. Hence, comprehensive domestic travel plan is needed for domestic travellers.

2 International Travel Insurance

This plan gives wide range of cover to protect you against unforeseen situations while travelling abroad. Below-mentioned coverage is offered by the policy:

➢ Emergency medical assistance

➢ Trip cancellation/interruption

➢ Loss of baggage

➢ Legal liability

➢ Hospital cash

➢ Repatriation of remains

➢ Personal accident

➢ Emergency financial assistance

➢ Additional coverage for death, dental treatment, theft and hijack, etc.

Policy exclusions

➢ Expenses for mental incapability, sexually transmitted diseases, influence of alcohol and suicidal attempt, etc.

➢ Travelling abroad for medical treatment

➢ Nuclear and war perils

➢ Pre-existing critical illnesses

Suitability: Every person going abroad for any travel purpose should opt for a comprehensive overseas international travel insurance cover to avoid any unforeseen situations and to experience a hassle-free trip.

3 Corporate Travel Policies

This travel plan is designed exclusively for those going on a business trip. The policy mainly covers:

➢ Personal belongings

➢ Flight cancellation or delay

➢ Medical treatment costs and related emergency services

➢ Accident, personal liability and legal cover etc.

Suitability: Every entrepreneur or an employer should buy this cover to complete the business trip without any travel-related hassles. Get a customised cover according to business need.

4 Senior Citizen Travel Plans

This is a specific plan that is designed to cover the different risks associated with travelling for people aged 70 years and beyond. Some policies may offer a cover for people below 70 as well. Here are the coverage specifications in most of the plans.

➢ Emergency medical treatment and related services

➢ Pre-existing illnesses

➢ Emergency evacuation

➢ Dental treatments

➢ Flight delay or cancellation

➢ Loss of baggage

➢ Trip cancellation or interruption

➢ Home burglary as an optional cover

Apart from this, there are other types of travel plans available, such as speciality insurance that provides specific risk coverage, group travel, family travel, single-trip and multi-trip travel insurance, etc.

Travel Insurance Online

In a nutshell, every trip needs to be protected with the right insurance plan, irrespective of the purpose of the trip, to make it a stress-free experience. Note that inclusions, exclusions, and terms and conditions may vary from plan to plan. Evaluate your travel need and avail travel insurance online accordingly.

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