Whether we are travelling domestically or abroad, having travel insurance from India could spare us from a lot of hassles. But do they actually protect us from all dangers and issues? Let’s investigate further.
A trip requires extensive planning in advance. Booking a ticket, finding lodging, packing your bags, and many other tasks must be completed. However, there is one thing that we frequently overlook. That is a travel insurance policy, and the reason we frequently overlook it is due to its simplicity. Choosing the appropriate travel insurance and understanding the coverage offered by the plan is essential when choosing travel insurance. Additionally, different plans are offered in terms of the regions/countries covered, the number of days of travel, whether you are travelling alone or with a group, and the amount insured.
Therefore, depending on a number of variables, you should make sure the travel itinerary meets your needs. As medical costs vary greatly depending on location, the amount insured under the travel health insurance policy should be sufficient to cover any medical emergency in the destination country you plan to visit. In addition, given the increase in Covid-19 cases, travellers should search for a travel insurance policy that covers Covid-19.
A travel insurance policy will protect you against the following risks:
This covers costs incurred in the event of a medical emergency or accident while travelling. Such occurrences can be covered by travel insurance up to a certain amount. Both inpatient and outpatient hospitalisation costs can be covered by this insurance. Additionally, some insurance plans offer a daily cash benefit if you end up in the hospital. It could pay for travel expenses to the closest town or your hometown in the event of an emergency. The cost of medical care is often relatively high when travelling abroad. In these circumstances, travel insurance is useful. Other health risks connected to travel are also protected by a travel insurance policy.
Flight delays and cancellations:
Inclement weather may cause flight delays or cancellations. Even occasionally, missing a connecting flight is possible. In such cases, your travel expenses can be covered by travel insurance benefits. The coverage can include the price of scheduling new flights as well as the price of food and lodging during the delay.
When travelling abroad, a lost passport may result in unneeded hassles and costs. Such costs are typically covered by international travel insurance, which keeps you out of trouble.
Losing your passport could result in unnecessary expenses and complications when travelling abroad.
Luggage delay or loss:
Your checked luggage may be delayed or misplaced while you are travelling domestically or abroad. These are typically handled by most airlines. A travel insurance policy can pay for lost or misplaced luggage and also give you money to spend on basic necessities.
You would be responsible for any accidental damage to a third party’s property; however, your travel insurance benefits could pay for it on your behalf.
In the event that a crisis situation forces you to extend your trip or stay, your travel insurance can pay for the additional costs associated with the longer stay.
Given all these advantages, travel insurance is unquestionably essential and could provide financial security for you and your family while you are away from home. Therefore, it becomes even more crucial to determine whether or not we actually need to purchase travel insurance coverage. A travel insurance policy essentially provides the insured person with protection from various risks related to travel. This is available for domestic as well as international travel, so you are stress-free wherever you go.
* Standard T&C Apply
** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
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