All You Need to Know About Travel Insurance

All You Need to Know About Travel Insurance

Travel insurance is an insurance category that is designed to meet the needs of travellers. It covers the risks that one may face during travel. A typical travel insurance policy covers hospitalization, other medical expenses, loss of luggage or documents, flight cancellations or disruptions, and various other travel-related losses.

Travel insurance is effective from the policyholder’s date of travel till the return to his or her place of origin. Frequent fliers have the option of buying a travel plan that remains applicable for a specific period, covering several travels within that period. Travel insurance is available for domestic as well as overseas travel.

Buying a Travel Insurance Policy

Just like any other insurance policy, a travel insurance policy can be bought online or by visiting the insurer’s office. Travel insurance plans are also offered by insurance brokers and agents. You must ensure that they are licensed by the Insurance Regulatory and Development Authority of India. It is worth noting that you may be eligible for discounts if you buy a travel insurance plan online directly from the insurer.

You need to fill in the basic personal details, dates of travel, traveller details, coverage and add-ons required and so on. Based on the quotes shared, you can select the travel insurance policy that is the best fit for you. Your travel policy could be a corporate travel plan, single or family plan, senior citizen or student plan, single trip or multi-trip plan and so on.

When to Buy a Travel Insurance Policy

If you are planning to go on multiple trips, you can buy a travel insurance policy before the first of these trips to cover all the upcoming trips. Even in the case of a single trip, buying a policy in advance is recommended. Buying travel insurance should be one of the first things you buy after you plan the trip. You can buy it at the last moment but doing so is not advisable. There are crucial coverages that cannot be availed if travel insurance is not bought early. If there is any trip cancellation between the date of purchase of the travel plan and the day on which it becomes effective, you will lose out on the cancellation coverage.

Why Travel Insurance Policy is Important

Buy a travel insurance policy for these reasons,

Who Should and Can Buy a Travel Insurance Plan?

People who are travelling to a country where travel insurance is mandatory must buy a travel insurance plan. Besides, people travelling to any country, in general, can buy a travel insurance plan.

To buy a travel insurance policy, a person must fulfil these conditions -

Types of Travel Insurance Plans

If you are planning to go on a holiday, you must choose the travel insurance that is best suited for you. The various types of travel insurance plans offered by insurers in India include,

Check These Points Before Buying Travel Insurance Policy

Some of the factors that you need to consider before buying a travel insurance policy are,

Due to the global scale of the COVID-19 pandemic, most leading insurance companies are providing COVID-19-specific coverages in their travel plans. A COVID-19 infection results in strict isolation and quarantine in most countries Therefore, adequate COVID-19 coverage can be handy in times of need. Make sure your travel insurance plan has COVID-19 protection and coverage.

Armed with all of this information, we hope you can choose the perfect travel insurance policy for you and your family, and enjoy a tension-free vacation.


Buy Now

insurance Insurance mutual-fund Mutual
investment Fixed