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Do I Need Travel Insurance For Short Trips?

By Finserv MARKETS - Aug 27,2019
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Travel Insurance or Short Trips

After months of slogging hard at work, some time away from the hustle-bustle of a metropolis is all you yearn. A small excursion away from home sounds like an exciting idea. No time constraints, no deadlines and no monotony of the daily grind. It is often ideal to plan a short trip to be able to energize yourself to be back to work with a bang. Clearly, Indians are increasingly looking at travel as a respite from the drudgery of everyday life, as the numbers speak. Leisure travel spending (inbound and domestic) generated 94.8 percent of direct Travel & Tourism GDP in 2018.

Now while we are at the topic of short trips, it may seem unnecessary to get a travel insurance policy when you go on a short holiday, because what could go wrong in a couple of days, right? Wrong. You might be tempted to look at insurance as optional when you’re only planning a weekend getaway, but it is important to understand the trade-offs involved in the decision.

You’ve already bought your flight tickets, booked your accommodation and are now looking forward to a day of self-care at the beaches or the mountains, but you are wary of the need for travel insurance for such a short trip. And now you think to yourself, “what could go wrong in a weekend that does not even involve hiking?” Travel can be expensive. After spending a fortune on hotels and flights, you may be hesitant to spend on an insurance. But that is exactly the reason you should consider why people take an insurance policy in the first place. If you are concerned about having to shelve out more money, you should also consider that the cost of medical treatment overseas is often extortionate, particularly if you have to be repatriated, and medical emergencies don’t discriminate over whether your getaway lasts for three days or thirty. Thus, having a travel insurance policy can save you from an unanticipated financial liability.

You need coverage on short trips too!

Your travel insurance coverage really comes down to what type of trip you are taking and what you might want to be covered for. As noted previously, delays, emergencies and contingencies are not subject to the length of your trip. They can strike anywhere, anytime and with a magnitude of gravity that you may not be prepared for. Remember that even if you are heading out for a short getaway, an insurance policy could still cover some crucial potential pain points:

Medical Emergencies

It is a prerequisite to have medical costs covered under your insurance plan because the costs for any medical service, be it a small checkup, is likely an extortionate amount. A travel insurance policy will cover you for that.

Coverage against Flight Delays/Missed Flight/Trip Cancellation

The overall cancellation rate of scheduled domestic airlines for the month of March

2019 has been 0.93%. The reasons cited for such cancellations include technical, operational and weather related reasons among others.

Shorter trips are not immune to delays.

Coverage against Loss/ Delay of Baggage

According to the SITA Baggage Report 2017, 5.73 bags per thousand passengers went astray in 2016. The number comes to 21.6 million bags that were either lost or temporarily misplaced! A good travel insurance plan covers you against such mishaps.

Coverage against Man-Made/ Natural Disasters

Some things are not within our control. Natural/man-made calamities strike without notice but can cause serious damage. Having an insurance plan when travelling to countries prone to such disasters is important, even if it is just for a weekend.

Given the variety of ways in which even a short trip can be derailed, purchasing an insurance plan is a prudent strategy to safeguard your travel experience. The good news is that you can book a Bajaj Allianz travel insurance just as easily as you book your tickets. It is a short and hassle-free process if you choose to buy a policy online on Finserv MARKETS. There’s no reason for your insurance policy to burn a hole in your pocket. This policy provides you with an affordable plan and hassle-free claim settlement. It provides extensive coverage across logistical delays on flights, tampering with the luggage, or any medical emergencies. Thus, buy a travel policy regardless of the length of your trip to enjoy a peaceful holiday.

Read about the various benefits of travel insurance to properly use your policy.

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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