A lot of planning goes into ensuring that your holidays are memorable, happy and safe. From fixing travel dates to finding the best deals on hotels and airlines, from creating an itinerary to getting your visa and arranging for forex- the list is long. Every detail is ticked off to avoid unexpected glitches. However, not many think about a travel insurance plan to secure their trip as a part of their checklist.
A quick look at our claims data is enough to show us that common issues faced by Indian travelers include medical and accidental emergencies, trip delays, trip cancellations, trip curtailment, missed connections, loss of checked baggage, delay of checked in baggage and loss of passport. A travel insurance policy protects you and your loved ones from these unwelcome troubles while on a holiday. You would be relieved to know that the expenses related to any of these issues due to a terror strike is also covered by a large number of travel insurance policies available in the market.
Medical Emergencies And Personal Accident
Medical emergencies in foreign countries result in expensive treatment. Moreover, limited forex in an unfamiliar territory would weigh down heavily on your pocket and mind. Travel insurance covers hospitalization expenses due to unexpected medical emergencies, illness or accidents when abroad.
While travelling to a foreign country one might need evacuation due to a medical emergency or an accident since the injured tourist may be medically advised to be evacuated to a hospital in India. Most travel insurance policies take care of expenses related to evacuation in case of a medical emergency.
Sometimes, you might need to cancel or cut short a trip due to a medical or a personal emergency. Or it could be due to political or climate related events in a country. One such cause of trip delay or cancellation could be the recent events in Paris. The monetary loss due to cancellation of bookings is covered in a travel insurance plan, which would surely bring in some respite. This is a cover included in most travel insurance policies.
Loss/Delay In baggage
Imagine waiting at the airport to pick up your baggage only to learn from your airline that it has been lost in transit! At this point of time, shopping for essentials becomes a must as recovering your lost luggage may take anything from a few hours to a few days. Your travel insurance reimburses this cost since most of the insurers provide a standard limit as compensation in their policy.
Loss Of Passport:
Losing your passport in a foreign country can be a nightmare. In such a scenario, you will need to procure another passport at your own expense, which is then reimbursed by your travel insurer. It is, however, essential that the loss be reported to the appropriate police authorities within 24 hours.
The recent events in popular tourist destinations reiterate the importance of travel insurance to ensure safety not only when you are on vacation, but also if you are traveling for work. God forbid you end up stranded or need medical attention or evacuation due a terror attack, it would not only jeopardize your trip, but could also leave a dent on your finances expenses. Travel insurance would come handy in such situations. However, it is essential to note that this coverage would exclude situations arising if a war is declared between two countries. Since the premium of travel policies constitute a small component of your total related expenditure, it will never add an extra burden to your budget. Buy travel insurance to make your vascation memorable, safe and happy.
The post is written by Suresh Sugathan, Head-Health and Travel Insurance, Bajaj Allianz General Insurance