For most of us, a travel insurance policy is another document we receive from our travel agent when we purchase our vacation or business travel package.
Here are five insurance coverages we recommend considering and checking off when buying travel insurance online.
- Pre-Existing Condition Insurance: Although hospitalisation is primary coverage, travel insurance has traditionally excluded coverage for managing chronic conditions. In the event of life-threatening medical issues, certain insurers do, however, now cover pre-existing ailments. To avoid difficulties in filing a claim, it is essential to explicitly disclose the medical histories of all family members and request their information to be recorded in the insurance policy.
- Hospitalization Coverage Restrictions: If you read the fine print carefully, you will discover that some travel insurance policies set an additional limit for each hospitalisation. This is why travel insurance is important. This means that even though your total sum insured is Rs. 100,000, you are only allowed to have a smaller sum insured for each hospitalisation, say Rs. 25,000, even though the medical sum insured ranges from Rs. 25,000 to Rs. 500,000 on the surface.
- Loss Of Checked Baggage*: Everyone has heard horror tales about how an exciting foreign trip can go wrong when checked baggage is misplaced or sent in the wrong direction. Although such baggage loss and delay are covered by travel insurance, the following points should be remembered when you buy travel insurance online.
- Only checked bags are protected. Travel insurance does not cover cabin baggage.
- Only flights to foreign countries are eligible for baggage loss coverage. You are not protected if you lose your luggage returning to India.
- Baggage delay is often only covered if the delay is longer than 12 hours.
- Some insurance companies may demand the original receipts for items like clothing or toiletries to reimburse these costs. Few employers will provide you with a lump sum benefit.
- You must provide the “property irregularity report” as supporting documentation for baggage delays or losses. You will receive this document from your airline.
- Adventure Sports Coverage: The last thing you anticipate when travelling is an accident. Mountain climbing, skiing, and other adventure sports have become popular among Indian tourists abroad. Most insurance policies don’t cover hospital bills, medical transportation, or disability compensation in an accident while participating in an adventure sport. If you enjoy adventure sports, you might want to learn more about these insurance coverages locally in the nation you visit.
- Vehicles With Third-Party Liability: Many cities worldwide are becoming sought-after locations for scenic road excursions because of popular cinema. However, a tragic incident involving someone or their property can leave them with substantial financial liability. Make sure you compare travel insurance before buying one.
A travel insurance premium calculator is a convenient tool you can utilise online to check the coverage required based on your needs.
Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.