To most people, travel insurance cover seems like an unnecessary expense, and many travelers ask the question- why buy travel insurance? Well, travel insurance, like vaccinations, are among a number of things to be done before you finally fly out to your destination. Besides being a necessary requirement, here other reasons why you definitely need to buy travel insurance:-
1. Your Trip gets Cancelled
Due to some unforeseen circumstances, you may need to cancel your trip. The reasons can range from a sudden illness or an ad hoc work commitment. Travel insurance bought online or offline will cover the trip cancellation charges, allowing you to recover your out-of-pocket expenses.
2. You Miss your Connecting Flight
Travelling to an exotic location requires you to catch a connecting flight. But what happens when your flights get delayed and you miss your connecting flight. In such cases, your travel insurance cover will provide you assistances services to help you arrange and pay for the next flight.
3. Your Flight is Canceled
All flights are dependent on the vagaries of weather, and there could be a chance that you arrive at the airport only to find your flight cancelled. This could be especially excruciating when you are returning home. Having the best travel insurance provides trip interruption coverage, which will reimburse you for the cost incurred on a new ticket or a stay in a comfortable hotel.
4. A Hurricane affects your Destination
What happens when a hurricane or a volcanic eruptions forces evacuation of the place you were supposed to stay at? Without travel insurance, you will probably lose all the money. But with travel insurance cover for weather damage, you will be to recover most of your pre-paid costs.
5. A Terrorist Event Occurs
An unprecedented event like a terrorist attack can throw your travel plans off balance. While it would be unwise to travel at this time, you still face the prospect of losing all your non-refundable fees. With travel insurance cover, you can cancel your trip without worrying about losing your money.
6. You get Sick or Injured on your Trip
There always remains a chance that food or weather of the place you are going to visit might not agree with you, and you may end up falling sick. Traveler’s diarrhea is common among travelers to India. While health care in India is comparatively affordable, that is not the case in most of the developed nations. You may be denied medical treatment if you don’t have travel insurance to cover the expenses. Travel insurance ensures that you don’t have pay a huge medical bill.
7. Your Baggage is Delayed or Lost
Misplaced luggage is quite a common issue. While the chance that it might be yours is not that high, it is advisable that you are prepared for the worst. The best travel insurances usually provide coverage for delayed bags. They will help you recover your misplaced bags, and will also reimburse any amount spent on essential items, like shoes, toothpaste, etc. so you can enjoy your travel. Even if your baggage is lost, the insurance will provide reimbursement for the stuff you lost.
8. You’ve Misplaced your Passport
Losing your passport while travelling can lead to harrowing experiences, but with coverage for lost passports, the insurance provider will help you obtain a new one while reimbursing the cost for a new passport.
9. You need an Emergency Medical Evacuation
Let’s say you gone on a trek, but the high altitude has made you feel sick and contract high fever. Such emergencies will require medical evacuation, which can burn a deep hole in your pocket. But with travel insurance, you won’t have to pay these high charges out of your pocket.
Types of Travel Insurance
There are several types of travel insurance plans available in India, suitable for different types of travelers. The most common travel insurances are:-
- Domestic travelers
- International travelers
- Individual travelers
- Corporate travelers
- Vacationers/ Family
- Senior citizens
- Single trip travelers
- Multi-trip travelers
These insurance are designed keeping in mind the requirements for different type of traveler.
Points to consider
Here are few things to keep in mind when you purchase a travel insurance online or offline.
- Insurance Provider’s Goodwill in the Market
The goodwill which a company holds in the market should be an important factor when you purchase travel insurance. A company with a good track of little or no complaints should be the one you should be purchasing your policy from.
- Sum Insured
The sum you will be insured for is directly proportional to the premium you will be paying. Make sure that you are not paying higher premium for less coverage. The right decision in this regard can help you save money as well as get the desired cover.
There are different travel insurance plans available depending on the age of the traveler. The premium varies depending on the plan.
This is another important factor that will affect the premium, as the add-ons you opt for will impact the premium.
Remember; when you travel, you are inadvertently exposed to travel-related risks; the role that travel insurance plays to mitigate the plausible effects of such risks can make your trips worry free, thus adding to the experience of it all.