Travel Insurance

Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or domestically.

What is Travel Insurance?

An insurance product designed to cover the costs and losses, and reduce the risk associated with, unexpected events you might incur while traveling. It's often pitched as the best protection for those traveling domestically or abroad. Many online companies selling airplane tickets or travel packages allow consumers to purchase travel insurance (also known as travellers insurance) as an added service. Some travel insurance policies cover damage to personal property; rented equipment, such as a rental cars,or even the cost of paying a ransom in the case of a kidnapping.

Why Travel Insurance is Important?
Financial Assistance for Travel Insurance

Getting Help Overseas

Thousands of travellers experience some kind of trouble when holidaying overseas each year.Having the right level of travel insurance cover is critical when travelling. If you fall ill or have an accident while overseas, travel insurance can ensure that you get the best quality of care and you can be moved, either back home or to a better medical facility, if needed.

Financial Assistance for Medical Costs Travel Insurance

Travel Insurance Provides you with Protection from Medical Costs

If you require medical attention while travelling, you may be liable for the cost of your treatment if you don’t have travel insurance.Medicare will not pay or reimburse you for any medical expenses you incur overseas.

Financial Assistance for DisruptionsCoverTravel Insurance

Travel Insurance can Cover Disruptions to your Trip

It’s no secret that when you travel, there is much that’s out of your control. Flights can be delayed or you might need to return home if an emergency occurs.Without travel insurance, disruptions to your trip can end up costing you a fortune. In many cases, you lose the money you’ve already paid, and have to pay for new bookings too.Many travel insurance packages will cover you for incidents that are out of your control, so that you don’t have to spend your own money if something goes wrong.

Financial Assistance for Reimbursed for your Losses and Expenses cover Travel Insurance

You can be Reimbursed for your Losses and Expenses

If your luggage is stolen, lost or damaged overseas, you can end up significantly out of pocket – and if you don’t have travel insurance, you will be responsible for replacing your items.If you take out the right insurance, however, you can be reimbursed for your losses and expenses, meaning that you won’t lose money due to an airline or hotel blunder, or a thief’s wrongdoings.

Types of Travel Insurance:

• Travel Accident Insurance: The purpose of this insurance is to provide term life and accidental death and dismemberment protection for you and your family. This covers unexpected and sudden losses that occur because of travel or flight accidents.

• Travel Medical Insurance: General health insurance doesn’t protect you when you travel abroad, but travel medical insurance acts as a sort of extension to cover medical, dental and evacuation costs during your travels.

• Medical Evacuation Insurance: This type of plan focuses on covering the cost of evacuations and repatriation. If you are hospitalized while traveling with your family, it may cover the cost of an emergency medical reunion and the return of any minor children home.

• Package Travel Insurance: Compared to travel accident, evacuation and medical insurance plans, package travel insurance is much more comprehensive, which is why it’s the most commonly purchased? Package plans are customized according to the different needs of various travellers.

Factors Affecting Travel Insurance:

What a travel insurance plan has to offer?

One of the most vital offerings of a travel plan is it covers the evacuation cost if needed. If the insured traveller falls ill during the trip the travel plan provide cashless hospitalization. Aside from health issues, travellers also come across a number of hazards while on vacation.

Finding a Suitable Travel Plan in India

There is no dearth of travel policy in India. There are scores of insurers who are ready to offer you a myriad of plans. The tricky part is finding the best travel policy that looks perfect in all aspects. To locate the best policy you need to understand your needs and budget. The premium rate is one of the most crucial factors and here is a detailed discussion on those aspects that have an effect on premium of travel insurance plans in India.

Sum Insured amount Influence Premium Rates

At the time of availing a travel cover, you need to select a particular sum insured amount. The amount of sum insured chiefly depends upon the geographical area where you are supposed to fly to. Typically, if you want to visit countries with expensive medical services you should opt for a higher sum insured. A higher sum insured also triggers higher premium amount as well.

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