Have you ever come across worst-case scenarios that could have potentially ruined your holiday or trip? If not, what do you think a worst-case real-life tragic situation in terms of travel would be like? Well, irrespective of the fact that someone is travelling solo or with their travel partner, most people have experienced a fair share of dramatic travel circumstances.
Nevertheless, a lot of individuals have stated how travel cushions have helped them overcome their travel complications and manage inconveniences. That's right! We are talking about travel plans here. Travel Insurance policies act as a strong cover that helps you overcome all the vexing and uncertainties related to a trip. To name a few, ideal travel insurance covers overseas medical emergencies, manages delayed flights, looks after the loss/delay of luggage, informs about the necessary country or visa requirements, and provides cover for natural and human-made calamities as well.
Plans offered by Bajaj Allianz Travel Insurance:
Domestic Accidental Hospitalisation and Flight Cancellation Benefit Cover
The company offers a range of travel insurance online plans to suit everyone’s travel needs
The coverage benefits of these travel insurance plans also include home burglary insurance
The company settles claims in a quick and hassle-free manner
The company covers the cancellation or curtailment of your trip.
The eligibility criteria for a travel plan vary from policy to policy. However, there are some mandatory documents that need to be produced at the time of policy purchase. These include visa, income tax, passports, and tax statements. Listed below are the eligibility criteria for four types of travel insurance.
Generally, these plans cover two adults and two children provided that the ages are under and up to 60 years (for adults) and under and up to 21 years of age (for children) respectively.
They can secure travel for up to 85 years of age. Note that senior citizens do not need to undergo any medical tests to get the cover.
These provide insurance to students who fall under a certain age group and are moving overseas for further studies.
This type of insurance is available for leisure travel and business only. Such insurances are available for infants who are not older than 90 days and adults up to 70 years of age.
You must have come across several companies that sell travel packages and tickets to consumers, thereby giving them the option of buying travel insurance online or offline. Generally, this can also be referred to as "traveller insurance". To be more precise, insurance for travel is a special coverage introduced to provide a safety cushion against financial losses and unforeseen risks and damage during travelling. These risks range from huge complications to minor inconveniences. These risks also include delayed luggage, sudden health complications, illness, serious injuries, missed airline communication, and many more.
A travel plan can also be described as an insurance product of a General Insurance Policy. Usually, travel insurance online is sold in the form of a package. It involves a range of coverage options. Speaking a few, the chief categories of an ideal travel plan involve medical expense coverage, trip cancellation coverage, accidental death coverage, flight accident, or baggage and trip interruption coverage. The best part is, some travel policies provide coverage on damages associated with rented equipment, personal property, and rental cars as well. All in all, if you are someone who frequently travels, buying a travel plan can be highly beneficial.
Most travel insurance online policies may appear similar, however, the kind of plan and variant that you purchase greatly determines the coverage that you receive. Given below is the basic coverage offered by most travel plans, to get more details of what all your plan covers, you must refer to the policy document.
Travel bookings are expensive, and any kind of cancellation can be heavy on the pocket. Almost all travel plans cover trip cancellation. This includes cancellation as well as delays that are caused by injury, sickness or death of a family member. Such financial losses are mostly covered.
If during the trip you fall unwell, it can not only overthrow your plans but also put you in a lot of trouble. Your trip insurance will cover the financial risks that you would face in the form of medical expenses.
Loss of baggage and belongings is not something unheard of. However, it can bring with it unfathomable troubles and problems. Losing your passport in a foreign country is everyone’s worst nightmare, but with the right travel plan, the necessary arrangements for a temporary passport will help you in dealing with such a situation.
Sometimes a natural or man-made calamity such as earthquakes, floods, terrorist activities etc. can be the risks that you face during your travel. In such a scary situation, feeling helpless is normal. Your travel plan will act as a rescuer in such a situation. The company would evacuate you and the insured family members under any such circumstances. The coverage may also include the cost of any hospitalisation that you may need or your return flight back home.
Now that you have understood the importance of a travel plan, here is a list of key features and benefits you should be aware of:
There is no certainty when it comes to good health, especially when you are travelling. Thus, a travel insurance policy, also called a trip insurance policy can help you with emergency hospitalisation and medical treatments.
Flight-related adversities can occur anytime. In such a situation, a travel insurance policy will cover your baggage loss, missed flights, delays or cancellations.
The number of people to be covered under the travel plan will also determine the amount of premium to be paid.
If your business or job demands frequent travelling, you might need a travel insurance plan that can provide you coverage for a longer period. Insurance providers offer multi-trip policies at lower premiums.
Most countries have made it mandatory for tourists to have a travel insurance plan. Without proper coverage, your visa may be denied.
Purchasing your travel insurance online can prove to be very convenient as you can do it in a matter of minutes from anywhere in the world.
Most travel plans these days come at affordable rates with wider coverages, as the competition among these companies is increasing. Moreover, if you buy a plan online you can get better discounts on your trip insurance plan.
Travel insurance comes to your rescue when you are in danger, far away from home. Having a support system to protect you globally can be a relief when travelling overseas.
One of the major benefits of a travel insurance online policy is that you can avail of cashless emergency medical services in case of an accident, injury, or other situations. Moreover, you can always add coverage for your prevailing illnesses and the facility of medical evacuation to eliminate all your worries.
Trip insurance plans provide compensation for lost pieces of baggage, delayed or cancelled flights, and other such situations that can cause havoc when you are on a trip.
There are a lot of miscellaneous non-medical benefits that companies provide when you are on a tour. Compensation for a lost passport, trip interruption, etc is also covered here.
Imagine a situation where you've missed a flight or lost your passport. Undoubtedly, there is nothing scarier than experiencing these situations in person. So, should a person not buy a travel insurance plan to help recover in a time of crisis during their travel? It is advisable to always keep a financial backup through a travel insurance policy if you travel frequently.
Moving forward, if you too are battling to find the importance of travel insurance, here's what you need to know. Healthcare expenses generally cost around 3x or 5x times more overseas. Moreover, each year, around 25 million bags are misplaced. The point is, travel scams are no longer a big deal. Instead, they have become extremely common in tourism-promoting countries. Hence, being financially strong and backed-up has become more important than ever.
In fact, as stated above, trip insurance provides a slew of coverage options including detained checked-in baggage, medical evaluation, lost connections, emergency monetary help, loss of baggage, repatriation, etc. One can only find the importance of these components when they face a travel mishap. Hence, it is extremely crucial to consider buying travel insurance. In a nutshell, if you purchase a travel plan today, you can build a safety net against all the unforeseen losses during the trip.
Now that you know the importance of having a trip insurance policy, when you head out to buy one, make sure you know the factors to consider while buying. Thanks to internet services, you might be able to gain enough knowledge about all the travel insurance plans that are offered, but selecting one of them can be overwhelming. Here are some important factors that you should consider that would help you buy yourself the best travel insurance plan in India:
Today, almost all companies offer plans according to the nature of your travel. You can look for a plan according to the number of times you travel in a year, this can even save you from paying extra premiums.
For example: if you are a frequent traveller you can opt for a multi-trip or annual travel plan that will cost you less.
You should always estimate the number of days you are going to spend on a trip and then choose a plan accordingly. This tip can help you with the coverage you want at affordable rates. Companies tend to charge more premiums if the number of days is higher.
Your health, age, and existing illnesses can affect your travel plan a lot. Companies lay down special terms and conditions for people who are afflicted with specific diseases and thus you may want to have a clear look at all the terms before buying a plan.
Keep in mind, many companies exclude the compensation of medical charges if a person is dependent on alcohol or drugs.
It is a fact that the coverage and premiums of your travel insurance plan differ according to the country or city you are travelling to. Therefore, you might need to research and calculate your budget accordingly. For example, medical expenses are significantly higher in the European continent as compared to South Asian countries.
If you are going on a vacation with family and friends and plan on doing adventurous activities like skiing, trekking, or water sports, it will be better if you invest in special coverages when buying a travel plan. This will ensure you enjoy your trip to the fullest and leave all the worries to the insurance company.
Analyse your trip, estimate your needs and find a plan that provides wider coverage at a lower premium. Do your homework and compare the plans to find the best one.
It is a must that you cover all your family members when travelling with them. There are many policies that offer coverage for the whole family, moreover, special trip insurance plans are designed for the comfort of senior citizens.
It is a fact that we often ignore the terms and conditions before buying a policy. However, in the era of the covid pandemic, many companies have altered their plans, and therefore, it is necessary that you read them carefully.
Before buying a travel insurance policy for yourself, it is a must that you read the ratings and reviews of the company so that you get an idea of their goodwill, customer services, and claim settlement ratios. These figures can help you with the company's market position.
There are several situations wherein you will not be entitled to avail of compensation or support from a trip insurance company. Make sure you understand them before you have selected the plan.
For example, a lot of companies exclude reimbursement for medical emergencies caused by adventurous sports like trekking. In this case, you might have to pay extra to add these services to your plan.
Buying a travel or trip insurance policy can be done easily if you know your requirements and the budget to be invested. Comparison of travel plans can be done very easily through online modes. To find the best travel insurance plan in India for your next trip, you just need to calculate your budget, estimate your needs and search for a plan that can suit you the best.
Having a good travel insurance policy will not only help you with the physical coverage but also give you mental peace when you are travelling. Now you know the recipe for a good trip, just buy your most-suited travel insurance plan, pack your bags and leave all your worries behind.
You can buy a travel plan directly from your preferred travel insurance company through the company website. However, it is recommended that you compare different travel insurance plans online so that you can get the best deals. At Bajaj Markets you get the ease of comparing different plans at the same time, making it easier for you to pick the most suitable plan that too within a suitable budget.
The main inclusions in Travel Insurance Policy include:
Emergency cash benefits
Train/flight cancellation because of delay in the connecting train/flight
Mislaid or loss of luggage
Accidental death benefits
Loss of passport cover
Delay in getting check-in luggage
If you misplace your passport during travel, your travel insurance company will offer you extensive financial coverage for your loss. Additionally, the insurance provider will also cover the costs of arranging a new duplicate/temporary passport for you. Moreover, if you lose your passport during travel, you will be covered under the Travel Insurance Policy.
Travel plans offer different coverage options and facilities. This varies from case to case and insurer to insurer. Hence, naming one company may not suffice. There are a number of companies that offer the best insurance plans. You can connect with an insurance company that offers you maximum travel coverage at affordable premiums. Simply put, go for a company that delivers you an ideal travel plan that best suits your budget.