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Yogi Zone

Useful articles for your finance management by our team of experts

what you need to know about travel insurance

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Until now, we have covered 4 types of insurance covers available – Life, Health, Motor, and Property. Today we shall cover the last type of insurance cover available – Travel Insurance.

Travel Insurance is a must-have for a globe-trotter – whether you are visiting family/friends abroad, flying abroad for further studies or simply holidaying.

Travel-related hazards are increasing day by day. More and more people are flying frequently for office or business related work, and vacationing. When you travel, remember that a foreign country is not designed to make you comfortable. It is designed to make its own people comfortable. The fact is that you are in an unfamiliar territory.

So while you buckle up and gear on for your travel, let not unforeseen events like a lost belongings/passport, flight delays, and medical emergencies etc. dampen your enthusiasm. Travel insurance provides you comfort and removes financial worries during travel.

What does travel insurance cover?

Travel Insurance is designed to protect your health, belongings, and your financial investment in your trip, for you and your family. A typical travel insurance policy would cover the following –

Medical emergencies

  • Loss of belongings (including passport)
  • Distress allowance if your plane is hijacked
  • 3rd party liability coverage
  • Emergency Cash in case of theft; among others

What is not covered under a travel insurance cover?

The typical exclusions in a travel insurance cover are –

  • expenses incurred (directly or indirectly) while travelling against the advice of the physician
  • pre-existing ailments & complications arising out of them
  • Suicide or attempted suicide
  • War, act of terrorism, illegal acts, dangerous sports etc

How many types of Travel Insurance Covers are available?

There are broadly 4 types:

      1) Individual Travel Insurance – Domestic & Abroad

      2) Family Travel Insurance

      3)  Senior Citizen Travel Covers

      4)  Student Travel Insurance

So how much does the premium cost?

The best part about travel insurance is that it doesn’t cost you much! The premium on a travel insurance policy would be a fraction of the total travel-related expenditure.

How do I buy travel insurance?

You can buy a travel insurance cover that suits your need just the same way you buy your ait-ticket online…fast and simple!

You can buy travel insurance cover when you buy your air ticket online. Alternatively, you can buy it online at the insurer’s website.

Some popular online policies

Here are some popular travel insurance provider links along with the different types of travel insurance covers they offer:

  • ICICI Lombard:

    https://www.icicilombard.com/travel-insurance/Single-Round-Trip.cms

  • TATA AIG:

    http://www.tataaiginsurance.in/travel-insurance/travel-guard-overseas-travel.html

  • RELIANCE GENERAL:

    http://www.reliancegeneral.co.in/insurance/travel-insurance/travel-insurance.aspx

  • BAJAJ ALLIANZ:

    http://www.bajajallianz.com/Corp/travel-insurance/travel-insurance.jsp

[Note: It is always required that you’re read the policy documents very carefully before making a choice of the plan and the premium}.

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