The Importance of Travel Insurance Cover for Your Journeys
When you plan a trip with the family abroad, you instantly open up doors to a whole new world of experiences. However, getting travel insurance cover is very crucial to ensure you enjoy your trip stress-free. These protection policies are extremely helpful when it comes to handling emergencies, both medical and non-medical, that can derail your financial position.
Current-day travel insurance plans provide you with a collection of benefits that cover all types of emergencies besides Medical Assistance abroad. In this blog, you can learn more about a travel cover and understand how it can be impactful under actual scenarios while travelling abroad.
Benefits and Importance of Travel Insurance
A travel insurance plan acts like a shield while you are visiting a place, either outside or inside the country. More importantly, while travelling overseas, you will realise why travel insurance is important since your existing Health Insurance policy in India will not cover medical expenses incurred abroad. So, it is important to understand the benefits of buying a good travel insurance plan so that you make the correct decision while availing one.
Below are four travel insurance benefits that will make you understand why you need these travel insurance plans in the first place:
1.Travel Insurances offer Coverage Against Multiple Risks
- The key reason why you need to purchase travel insurance is to cover any medical hospitalisation that you incur. The cost of medical treatment abroad is very high, and travel insurance helps mitigate these costs.
- Other potential risks while travelling involve Loss of Personal Belongings, Luggage, Passport, etc. When you know that these risks are covered by an insurance plan you can enjoy your trip or vacation without additional stress. Additionally, if your Flight is delayed or your Trip gets Cancelled because of any emergency at home, your insurance plan can reimburse the Non refundable portion of the Flight Ticket / Hotel / Land Package costs up to the Sum Insured on the policy.
- Now, imagine what would have happened if you did not have insurance coverage in the above-mentioned instances. These possibilities could burn a hole in your pocket as Flight Cancellation costs usually come as non-refundable expenses.
2.Travel Insurance Offers You Cashless Medical Facilities for Inpatient Treatment Abroad
- Any travel insurance plan pays for the beneficiary’s medical expenses up to a specific sum insured limit. Therefore, you can rely on these plans, as they do not discriminate between the categories of illnesses, accidents, or injuries. No matter the medical emergency someone faces while travelling, sometimes, even if the emergency is related to a pre-existing medical condition, you can rest assured that you can claim reimbursement under their travel insurance policy.
- However, the sum of reimbursement/cashless treatment cannot exceed the Sum Insured defined on the Policy Certificate of Insurance (COI). Insurance companies like Star Health, through their Assistance Partner, Falck India, have a large network of hospitals worldwide where you can opt for world-class treatment with the help of a travel insurance plan.
3.Travel Insurance Companies Take Care of Trip Cancellations
- Most Indian travellers make their travel arrangements well in advance, and there is always a possibility that things situations can change between the ticket booking date and the actual date of travel. Trip disruptions are specific emergencies that can force you to cut short or cancel your vacation or tour for a genuine reason. If you face any such situation, a good travel insurance provider can assist with flight ticket cancellation on your behalf and also offer claims reimbursement up to the non-refundable part of the pre-booked flight and hotel bookings.
- The course of action by your travel insurance company will depend on the policy terms and conditions. Nevertheless, it is always a better choice to get these aspects covered while booking expensive flight tickets, hotels, tour activities, and so on.
4.Travel Insurers Offer Guidance to Perform a Valid Claim
- If there are any inconveniences during the trip, you can rely on your insurer for immediate support. They have dedicated Assistance Partner abroad and their Customer Service Team in India, who can guide you on how to file a claim against any of the benefits or if you’re abroad, help you find the nearest network hospital during an emergency.
- In a nutshell, as long as you are covered by the travel insurance plan, the respective insurer is there to help you in times of need.
Common Exclusions in a Standard Travel Insurance Coverage
Now that you understand travel insurance's importance in particular, let us focus on some of their common exclusions. Even a reputed travel insurance provider can deny your claim when:
- You lose your luggage or accidentally hurt yourself under the influence of alcohol or drugs while on the trip.
- Your request for reimbursements of medical bills incurred from cosmetic surgeries, Ayurvedic or homoeopathy treatment
- Your policy which does not include adventure sports coverage, still, you claim for treatment of an injury or loss sustained while participating in such activities.
- Your policy documents or other requisites are not produced properly while claiming a reimbursement.
- Finally, your claim can be turned down for the treatment of pre-existing illnesses or HIV-related issues, as most policies do not offer coverage under these circumstances.
How to Get the Best Travel Insurance Policy Online?
Nowadays, choosing an appropriate travel insurance plan is easy. You can use a credible travel insurance premium calculator to see and compare the tentative prices. Then, you can visit the official website of your preferred insurance company to book an insurance plan.
These are some factors to consider while selecting an ideal travel insurance cover for yourself and your family:
- Travel Destination
Choosing the right type of travel insurance plan greatly depends on your destination, particularly if you are visiting a country outside India. For example, some nations reject the issuance of visas if you already do not have travel protection coverage. Thus, you should have a valid travel insurance plan for every trip. Also for Travel to USA, having an Assistance partner like Falck India (with their partnership with UHC) , which is Star Health’s Assistance Partner will be beneficial. - Duration of Travel
Next, the cost of your international or domestic travel insurance plan is calculated based on the length of stay in a selected place. Plan seekers need to ensure that their travel insurance covers at least a few days more than their intended duration of stay. This is to ensure that the extended time accounts for any contingencies that may arise in your existing travel plan. It is also important to choose an appropriate Sum Insured based on the duration of Travel. - Claim Limit
Every aspect of travel insurance coverage has a maximum Sum Insured, which can be claimed against it. This includes emergency medical reimbursements, coverage for lost baggage, reimbursement for flight delays, and so on. You should go through your policy document and understand the coverages and the limits to have an idea regarding the coverage limits under an international or domestic travel insurance plan. On International plans, the Sum insured is normally in USD ($). - Number of People to be Covered
It is compulsory to inform the insurance company of how many people you are buying travel insurance for. According to the data specified, you have to enter details for every beneficiary to ensure each of them gets sufficient coverage throughout the stay duration. Please ensure all members of your family are covered when travelling together. - Frequency of Travel
It can make a huge positive impact if you select a travel insurance plan based on how frequently you travel. For instance, if someone plans to visit a single place only one time in a year, they can opt for a single-trip policy. On the other hand, a more budget-friendly option will be a multi-trip policy for those who are seeking coverage for multiple trips to a single location without paying additional premium. - Choose the Right Add-Ons
In order to enhance your trip experience and ensure that all your travel needs are properly covered, you must choose the right add-ons or riders. These optional extras provide protection beyond the standard plan. For instance, you may opt for rental car coverage, event-specific cancellation protection or adventure sports coverage.
Final Words
Travel insurance cover is important to secure peace of mind while a person is travelling alone or with their family. Determining which travel insurance is the best is not so complicated these days. You can visit the Star Health website and choose from multiple travel protection plans. Alternatively, you can call our customer support for a one-on-one discussion.
