Over 1.8 crore Indians travelled abroad between January 2022 and November 2022, and the domestic travel numbers are equally encouraging.
Travelling enables you to experience and connect with history and cultures globally. Additionally, you can travel to explore education and work opportunities across the globe.
While travelling requires a lot of planning and packing, an essential part of every trip is travel insurance. A travel insurance plan is a financial protection against various possible mishaps and incidents that may arise during your trip.
You can buy travel insurance to free yourself from the worries of your budget going astray due to unplanned events on your trip. Moreover, if you travel abroad, you can opt for travel international insurance to cover yourself in foreign lands.
Let us understand what travel insurance is and why it is important to get travel insurance.
What is Travel Insurance?
A travel insurance plan is an insurance policy that protects your financial interests if certain damages, incidents, or mishaps occur when you are travelling.
With all aspects of our lives going digital, you can now buy travel insurance online. Reputed insurance companies like Tata AIG offer online travel insurance plans with a detailed list of their features, inclusions, exclusions, premiums, and claim settlement procedures.
What is the Importance of Travel Insurance?
As more and more people make family, group, and solo trips internationally, covering these trips with a travel insurance plan has gained a lot of importance. Travel insurance is your friend who has your back when you are on a journey to explore the world.
Let us have a detailed understanding of the most beneficial features of travel insurance to help you learn how it can be useful to you during a trip.
- Medical expenses: As we have seen in recent years, medical emergencies may occur anywhere and with anyone. With the mounting cost of medical treatment and hospitalisation, your travel budget can get into serious trouble if you fall sick on a trip, especially an international one.
However, there is no reason to worry if you have a travel insurance plan. A travel policy covers your medical expenses and the cost of hospitalisation if you fall sick on your trip. In addition, if you get infected with coronavirus on your trip, the cost of your hospitalisation is also covered under your travel policy.
Most insurance companies have a list of network hospitals where you can get cashless treatment and hospitalisation.
- Trip disruptions: If you must cancel or delay your trip due to some unavoidable circumstances, a travel insurance plan covers the bookings that get cancelled by your travel agent or yourself.
Additionally, travel insurance covers changes in the trip itinerary.
- Lost passport and baggage: A passport is a crucial document when travelling internationally. Losing your passport when you are far away from your homeland is scary. If you lose your passport on your trip, your travel insurance company will provide you with first-hand assistance.
That’s not all. If your cash, travel documents or traveller’s cheque gets stolen or lost on your trip, you’re covered under your travel policy.
Moreover, if your check-in baggage gets delayed or lost at the airport, your travel insurer will compensate you as per the policy terms so that you can get adequate replacements.
- Personal liability coverage: Third-party damage can be damage to a person or property. If you become liable for third-party damages on your trip for any of the covered causes, your travel insurance policy will provide compensation for such damages.
- Cancelled or delayed flights: Flight tickets are expensive, especially during tourist seasons and weekends. If your flight gets cancelled or delayed and you need to make fresh air ticket bookings, it can dig deep into your pocket.
A travel insurance plan compensates such cancelled and delayed flights to save your travel budget. Your policy document will have a list of valid reasons for which you can claim flight cancellation insurance.
- Peace of mind: The most important benefit of buying a travel insurance plan is the mental peace it brings. You can focus on creating memories and having fun on your trip while your travel insurance policy ensures your financial security against possible emergencies.
A travel insurance plan covers a range of unplanned incidents and accidents when you travel. You can compare and buy Tata AIG travel insurance online from the luxury of your home or office through a paperless process.
While the exact offerings of a travel policy differ from insurer to insurer, it is designed to provide maximum coverage to the insured for a reasonable cost.