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Advantages of Buying Travel Insurance

By Finserv MARKETS - Jan 30,2019
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Advantages of travel insurance policy

Travel insurance can often seem like an unnecessary and boring thing to buy before you take off to another country. The question that often pops up is – why spend money on something that may never happen?

However, expensive holidays do come with surprises, and these could be trip cancellations, medical emergencies, loss of possessions, etc. That’s why you should always consider buying a travel policy before you prepare yourself to explore a new country.

What Is Travel Insurance?

A travel insurance plan is a kind of policy that financially covers you during various travel-related emergencies and expenses incurred. Some of these situations include trip-cancellation expenses, medical coverage, flight delays/cancellations, and luggage loss/delay.

As a matter of fact, most of the significant monetary losses are covered under a reliable travel plan. You can purchase travel policy online, as most insurance providers offer travel plans at affordable premiums.

What Makes Travel Insurance An Absolute Necessity?

Imagine your travel trip is full of adventure. This means that you are exposed to all kinds of risk. Hence, to neutralise the potentiality of the risks involved, a travel insurance policy is a must.

A travel policy should be included in your travel checklist, even if the magnitude of the risk is not high. Any minor inconvenience incurred during your trip abroad can drain your savings in no time. And it is something you don’t want, right?

Thus, buying travel insurance is your safest bet. It will ensure that your hard-earned money is safe in the bank account when you return.

Advantages of Buying Travel Insurance Plan

Below are some key points outlined to help you understand the benefits of travel insurance

  • Cancellations
  • Emergency Medical Expenses
  • Loss Of Travel Documents And Personal Possessions
  • Student Medical Cover
  • Home Burglary Cover
  • Activity Cover


Travel insurance will cover cancellation costs like accommodation, car hire and transport that you wouldn’t otherwise be able to recover from other sources like your tour operator. However, you need to read your policy and understand what exactly is covered in order to avoid any last-minute confusion.

2.Emergency Medical Expenses

Illness or injury can happen at moments when you least expect it. Imagine, you are abroad, and you encounter an accident or fall terribly sick. In such situations, you will most likely have to pay for your treatment, which can be an expensive affair. This is where the benefits of travel policy come into play. It will not only pay for all your medical fees but also arrange for transportation.

3.Loss of Travel Documents and Personal Possessions

Some of the most annoying travel experiences involve losing your personal possessions like passports or baggage. With travel insurance benefits, you could cover the costs of all these problems, but you must check your policy thoroughly and read the clauses to get a better understanding.

4.Student Medical Cover

If you are a student planning to go abroad for higher studies, you should definitely consider buying a student travel insurance plan. It covers your medical expenses and damage to the laptop while you are studying in a foreign land. On our platform, you will find a plan that offers reimbursement of the tuition fee in case of medical exigencies.

5.Home Burglary Cover

When your entire family is going on an international vacation, then it’s essential to keep your house protected. A family travel insurance plan covers unexpected events like a house break-in or a home burglary. When you buy a travel policy from us, you get a home burglary coverage of up to Rs. 3,00,000 which helps you travel in a new country without any worries.

6.Activity Cover

When travelling abroad, most people love to participate in activities like jet skiing, bungee jumping, sky diving, etc. Though these activities sound exciting, they do come with a lot of risks. Most insurance plans do not cover such activities. You could face hefty medical expenses in case you happen to get injured whilst participating in such activities.

Travel Insurance at Finserv MARKETS – Inclusions

The plans available on our platform offer you travel insurance coverage for the following things –

  • Flight/train cancellation due to delay in the connecting flight/train
  • Loss/misplacement of luggage
  • Emergency cash benefits
  • Hijack cover
  • Loss of passport cover
  • Trip curtailment
  • Delay in receiving check-in luggage
  • Home burglary
  • Medical expenses
  • Accidental death benefits

Travel Insurance at Finserv MARKETS – Exclusions

The things not covered under your travel policy are as follows –

  • Emergency hospitalisation arising due to pre-existing medical conditions
  • The loss incurred due to the influence of intoxicants
  • When travelling abroad for cosmetic surgery or medical treatments
  • Travelling to participate in high-risk sports like bungee jumping or scuba diving
  • Flight/train delays or cancellations due to strikes, protests or civil unrest

Buy Travel Insurance at Finserv MARKETS

Whenever you go in for an online travel policy, make sure to check for exclusions as many plans may not cover you for things you need. It’s always advisable to read your travel policy thoroughly before you purchase it or seek an expert’s advice to avoid any confusion.

We offer a wide range of bespoke travel plans that are suitable for your needs. Bajaj Allianz travel insurance available at Finserv MARKETS will let you benefit from features like 24×7 telephonic assistance, hassle-free claim settlements, extensive coverage, quick online process, and more.

So, why wait? Get travel insurance with us, right away.

Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor-made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we works towards fulfilling all your personal and financial needs . What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.


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Bajaj Finserv Direct Limited ("BFDL") is primarily engaged in distribution of financial products and services through its digital platform (“Bajaj Finserv MARKETS”) and inter alia renders services of customer acquisition, providing preliminary credit support activities, fulfilment services and post-acquisition customer services to Banks, NBFCs, HFCs. BFDL is also a registered Corporate Agent (Composite) under valid IRDAI registration number: CA0551 valid till 10-Apr-2024 for solicitation and servicing of Insurance Products. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522