“Man cannot discover new oceans unless he has the courage to lose sight of the shore.” – Andre Gide
The quote mentioned above summarizes the thrill of travel as well as the risk associated with it. What if the risk was considerably reduced? Would you feel more comfortable venturing outside then? Well, if that’s the case, then there’s travel insurance to the rescue. Read ahead to know more about travel insurance.
Understanding Travel Insurance
Travel insurance is not a magic pill. It is not going to prevent bad things from happening. It is a precautionary measure. Travel insurance is a fallback mechanism, it gives you mental peace and financial assistance in case things do not go as per plan. You have to pay insurance premium to purchase a travel plan. More the coverage, higher the premium. Thus, it is necessary to understand your travel requirements and then choose a cover accordingly.
Here are 5 things to be covered in your travel insurance policy.
1 Travel duration
Make sure to include your entire trip duration under your policy. For example, if your trip is of 15 days, do not select a 10-day plan. Insure the entire duration of your trip. You do not want to be exposed to risks on any day while you are out on your trip.
2 Basic cover
A travel insurance policy must cover flight-related risks such as cancellation and delay. If you are on a hop-skip-jump trip where you fly to various destinations, you will need the baggage cover as the chances of it getting misplaced increase in such a case. Your most important document while in a foreign land is your passport. Thus, a policy with a passport cover is a must.
3 Health cover
This is the most important cover of a travel plan. Hospitalization costs can skyrocket in a foreign land. Medical treatment can drain away your savings quickly when you pay bills in a foreign currency. In certain countries (example Schengen), travel insurance is a must to avail Visa. One must not compromise in case of the sum insured regarding the health aspect of a travel insurance policy.
4 Personal liability
You are liable to pay compensation if you accidentally damage someone’s property in a foreign land. A travel insurance policy has a personal liability component that protects you financially in case of such situations
5 Insuring your home
Does your house stand vulnerable to theft when you are out on a vacation? Everyone does not live in a gated community with 24×7 security. There are cases when the house remains unattended when the entire family goes on a month-long trip. Travel insurance has a rider for such scenarios. You can opt for a ‘Home Burglary Cover’ Add-on to enhance your policy’s coverage. Different insurers might have a different name for this cover. Some might include this in their travel policy as well, while some might keep it as a stand-alone Add-on along with other riders.
Travel Insurance Online
Making travel plans online has become quite common. Similarly, you can opt for travel insurance online as well. Whether it is travel insurance India or travel insurance abroad, you can purchase a policy online easily. Travel insurance India and foreign travel insurance is both quick and hassle-free when you purchase a policy online.
Contrary to the offline mode, the online mode is active throughout the day and night. You do not need to visit any office or fill lengthy forms and submit documents to avail a policy online. The basic rule while purchasing a travel plan is to look at your destination (weather), know what kind of trip you are going for (leisure, business, adventure), analyze specific requirements (health issues), number of people (family, friends, colleagues) travelling, and then purchase a policy that ticks the right boxes.
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