Such insurance is various types of risks people encounter in their travel, such as loss of luggage, medical costs, flight cancellation and the like. These policies are bought for the total travel duration as they cover nearly all emergencies within India and outside.
Benefits of travel insurance
Travel insurance generally covers the following risks:
- Permanent Total Disability of the policyholder, and his death benefit as part of personal accident coverage.
- In cases of accidents and sickness, compensation is made to cater for the medical bills.
- Recovery of bodies in the event of the policyholder’s death
- Dental treatment
- Delays in flight and baggage
- Delayed luggage
- Emergency evacuation
- Hijacking
- Refund of the amount paid for the trip and or flight.
- Burglary in accommodation
- Lost passport
- Non-receipt of accommodation and/or flight booking because the ‘money bounced’.
- Missed flight
- Unscheduled early return
Other risk that are catered by travel insurance policies include among others depending on an insured traveller and the region of the world he/she intends to visit. The extent to which money is offered corresponds with the policy that one selects.
Types of travel insurance
Travel Insurance can be categorized into dash primary types, which are:
- Domestic Travel insurance policy is special coverage policy that seeks to cover the policy holder when he or she is in India.
- Single trip policy is bought for a single journey only.
- Multi trip insurance is bought by those people who are business travellers or those people who have the tendency to travel multiple times in a year.
- Yearlong policy is bought to by those who make several trips to a given area as it becomes cheaper.
- Popularly known as STA travel insurance policy, student travel insurance is charged at relatively low prices and is taken by students capable of going abroad. The cover trips are as long as 30 to 60 days.
- The group or family travel insurance policy comes appended to a policy that covers a minimum of 7 travellers. This policy provides advantages that are akin to those provided by the single trip policy and is most economical because the travellers’ age is a factor considered. (Unless otherwise stated) travel companies embrace this policy when grouping several destinations for groups of travellers.
Some of the most important considerations to make while acquiring the insurance policy
- Comprehensive coverage
- High coverage
- Costs/premiums
- Individual needs
To discover more relevant information about travel insurance plans based on your travel plans, sign up, log in, or call to get a free consultation today with Policyinserv, your financial advisor and friend.
