What is travel Insurance | What does travel insurance cover?

Pic credit- Nick Youngson

Everyone wants to travel abroad by taking some holidays from their busy life. Some go to honeymoon, Some travel for buisness purposes, Some wants to spend their time with their family and plan a trip.

But have you ever think what if you loose your passports, luggages, cards it will directly effect your wallet. What if you or a family member got sick and have to be hospitilized. You know it costs too much of being hospitilized in abroad. If your trip got cancelled, your flight got missed then your whole the bookings are waste. But there is a thing which can protect you from these things which is travel insurance. A travel insurance can reimburse your whole the expenses of loss like lost of cards, passports, luggages.

Nowadays every ticket seller broker gives you an option of buying travel insurance with the tickets. Even the online websites which are selling tickets give you the option of buying travel insurance with the tickets and that doesn't cost too much to secure yourself and your belongings.

What is travel Insurance?

Travel Insurance protects or reimburse your losses which occurs while travelling like loss of belongings, medical expenses internationally or domestically.

There are many general Insurance companies which are offering travel insurance. The premium of the insurance policy depends upon the travellers age, pre-disease, and duration of the trip. The travel insurance policy can be single trip or multi trip.

It Doesn't matter which transport you are using to travel. What is the time period for which you are going. You are going to US or russia. You are travelling to abroad or inside the country. You can buy a travel insurance for everywhere domestic or foreign country. You can buy a travel insurance for even a single day. You can buy a travel insurance even when you are travelling from bus or train. When you book online train or bus tickets they offers you to have a travel insurance at a very low cost.

Importance of travel Insurance 

Having a travel insurance gives you peace of mind as you know that all your belongings, baggages, cards, passports are well protected from the expeses after the loss.

It covers the risk of medical treatment in the case you will have to hospitalize in emergency medical conditions. If you do not have travel insurance then you will have to bear these costs from yourself.

If you have to cancel your trip due to some reason, travel insurance covers all the bookings losses.

In some countries having a travel insurance is mandatory you have to buy travel insurance to enjoy those countries. 

Some key features of travel Insurance

1.Accidental death benefit 

Insurer gives a percentage of sum insured mentioned in the travel insurance policy wordings if the insured got die in the policy period due to any accident. Also there is an amount fixed for any disabilities like loss of both limbs, loss of legs, loss of eye sight, loss of hearing in ear. Both permanent and partial disability will be covered in the travel insurance policy but there is a difference in the sum insured of permanent disability and partial disability. The loss of life or disbility must be occur upto a time period mentioned in the policy by insurer.

 

The limitation is that the loss should not be occur by any pre-existing disease.

2. Accident and sickness medical expenses

You know whenever we go to a different environment there is always a chance for being sick.

If you sustain a sickness or got an accident on trip during the policy period and have to be hospitilized. Then the Insurer will reimburse all the expenses of hospitalization like medical emergency, surgery, hospital room expenses, doctor fee, ambulance service etc. 

But the reason of being hospitization should not a pre-existing disease.

3. Dental expenses

If you got a sudden pain in your teeth during the policy period mentioned in the travel insurance policy and will have to go under dental treatment. Then the insurer will cover all the expenses occured like dentist fee, medicines etc.

4. Expenses due to Baggage delay

The travel insurance policy will cover those expenses also which occurs due to delay of your baggages from courier department like buying cloths and all the necessary things which you need to stay there.

5. Loss of luggage

If your luggage has been lost due to misdirection of courier service or theft then it will be covered in travel insurance policy. You will be payable upto a fixed amount mention in the policy wordings for the loss of luggage. Insured will be payable in the case of entire luggage only. Insured will not be payable if only some contents has lost from the luggage or in the case of luggage damage.

6. Loss of passport

The expenses which occurs from loosing your passport and obtaining a duplicate or a new passport will also cover in your travel insurance policy.

7. Flight delay

Some company also covers the expenses which occurs due to delay of flight upto a maximum sum insured mentioned in the travel insurance policy. The reason of delay can be anything like bad weather, equipment failure, breakdown etc.

8. Trip cancellation

Travel insurance policy also covers those expenses which occurs due to trip cancellation. The reason of cancellation could be insured sickness, or a family member got injured or sick, a non-family member has been passed out means there should be a valid reason of trip cancellation.

9. Personel liability

Some travel insurance policy also cover the claim which is made againt you as you damaged someone's property or a person upto a sum insured during the policy period. 

10. Bounced bookings 

Some times we do over booking of hotel or flight before the trip and when at that time we go to ask the refund then there is a difference between booking price and refund. This difference is also covered in travel insurance policy upto a maximum sum insured mentioned in the policy scheduled.

Some common exlusions of travel insurance

• Loss occured due to Suicide or attempted suicide, intentionally self injury is not covered in travel insurance.

• Losses occured due to being under the influence of drugs or alcoholic substance will not be covered in travel insurance.

• Loss occured if the person is travelling against the advice of physician for medical treatment he will not be payable in any case.

• Loss occured due to pre-existing disease will not be covered in travel insurance policy.

• Loss occured due to the participation in risky sports like skydiving, parachuting, scuba diving, mountain climbing, bike race etc. will not be covered in travel insurance.

Conclusion

The above features are the most common features which offers almost every company. There can be more features in the policy depend upon the plans you bought.

Click here to know the importance of health insurance.