Paridhi
Active member
If you are fond of traveling or office work often requires you to travel, then it is very important to know about travel insurance. Just as life insurance and health insurance are important, travel insurance is also important. Your travel is covered in travel insurance. Under this insurance, if any untoward incident happens with you in the journey such as accident, health problem, luggage theft, flight missing, then the concerned insurance company gives you a fair compensation. This insurance is available not only for foreign travel but also for domestic travel.
Why travel insurance is necessary
Today most of the people want to visit some place to take some break from their daily routine. This trend has grown rapidly. In view of this, it becomes necessary to take travel insurance as it is necessary for many reasons.
** If a medical emergency comes in front of you while traveling abroad, then you may be worried about its expenses. In such a situation, in the event of the insurance being insured, the insurance company will provide a cover equal to the sum insured on your treatment. This facility is not only available on foreign travel but also on domestic trips. Apart from this, sometimes it happens that the place where you are does not have better health facilities, then it will be the responsibility of your insurance company to provide you timely treatment by transporting you to the nearest city or country.
** Some countries, such as Austria, Belgium, Denmark, France, Germany, Italy, Sweden, Switzerland, Australia, Cuba and Dubai in the UAE, place travel insurance conditions before granting visas for their visits. In such a situation, having travel insurance is a mandatory condition for traveling there.
** If anything happens to you during the journey and your cash is lost somewhere, the insured will ensure its availability to you.
** You will get compensation for any untoward incident like flight delay, baggage loss or flight hijack.
** When you take family travel insurance then not only you but your whole family will get insurance cover.
Required eligibility for travel insurance
Before taking a travel insurance cover, you should check eligibility. It depends on what type of insurance you are taking.
** You, your spouse and two dependent children will be covered under family travel insurance. The age of adults can be between 18 to 60 years and the age of children can be from 6 months to 21 years.
** Under Senior Citizen Travel Insurance, the age of a person should be more than 60 years.
** People between 16 years and 35 years will get cover under Student Travel Insurance.
** At least 10 people will get cover under group travel insurance.
Where to buy travel policy
It would be better to take travel insurance online as it is convenient and the process is fast. However, which policy you should take will depend on the number of insurance policy options that you have in front of you, what are covered and what is not covered in them. Some of the travel insurance companies are Aditya Birla Travel Insurance, Bajaj Allianz Travel Insurance, Bharti AXA Travel Insurance, HDFC ERGO General Travel Insurance, IFFCO Tokio Travel Insurance and Oriental Travel Insurance (This is talking about in India). There are many companies apart from these but you have to keep in mind what is in the policy cover.
Impact of corona pandemic
Currently, flights are being closed all over the world due to the corona epidemic. In such a situation, the question arises about flight cancellation that cover will be available on it. So the answer is that if the insurance has been done before the flight ban, then its cover will be available, it will not be available on the new policy.
INR 500 - INR 2 thousand cost
The cost of a travel policy depends on how much is the traveling cost, your age, the sum insured. Apart from this, it additionally relies upon many components, for example, where you are voyaging and for how long. For example, suppose you have to go to Mexico for less than a month, you may have to pay Rs 580 to Rs 1254 for a sum insured of $1 lakh (Rs 74 lakh).
Better to take policy 15 days before travel
Some insurance companies provide the facility of taking travel insurance till the day of the start of the journey but the best time to buy it is 15 days before the start of the journey. This also increases your chances of getting some bonal coverage. Most companies do not offer an opportunity to insure on the day of travel.
Some credit cards offer free travel insurance
You get free travel protection with Axis Bank Privilege Credit Card, HDFC Bank Regalia Credit Card, IndusInd Bank Platinum Credit Card, IndusInd Bank Platinum Aura Credit Card and Axis Bank Vistara Signature Credit Card and so on.
Why travel insurance is necessary
Today most of the people want to visit some place to take some break from their daily routine. This trend has grown rapidly. In view of this, it becomes necessary to take travel insurance as it is necessary for many reasons.
** If a medical emergency comes in front of you while traveling abroad, then you may be worried about its expenses. In such a situation, in the event of the insurance being insured, the insurance company will provide a cover equal to the sum insured on your treatment. This facility is not only available on foreign travel but also on domestic trips. Apart from this, sometimes it happens that the place where you are does not have better health facilities, then it will be the responsibility of your insurance company to provide you timely treatment by transporting you to the nearest city or country.
** Some countries, such as Austria, Belgium, Denmark, France, Germany, Italy, Sweden, Switzerland, Australia, Cuba and Dubai in the UAE, place travel insurance conditions before granting visas for their visits. In such a situation, having travel insurance is a mandatory condition for traveling there.
** If anything happens to you during the journey and your cash is lost somewhere, the insured will ensure its availability to you.
** You will get compensation for any untoward incident like flight delay, baggage loss or flight hijack.
** When you take family travel insurance then not only you but your whole family will get insurance cover.
Required eligibility for travel insurance
Before taking a travel insurance cover, you should check eligibility. It depends on what type of insurance you are taking.
** You, your spouse and two dependent children will be covered under family travel insurance. The age of adults can be between 18 to 60 years and the age of children can be from 6 months to 21 years.
** Under Senior Citizen Travel Insurance, the age of a person should be more than 60 years.
** People between 16 years and 35 years will get cover under Student Travel Insurance.
** At least 10 people will get cover under group travel insurance.
Where to buy travel policy
It would be better to take travel insurance online as it is convenient and the process is fast. However, which policy you should take will depend on the number of insurance policy options that you have in front of you, what are covered and what is not covered in them. Some of the travel insurance companies are Aditya Birla Travel Insurance, Bajaj Allianz Travel Insurance, Bharti AXA Travel Insurance, HDFC ERGO General Travel Insurance, IFFCO Tokio Travel Insurance and Oriental Travel Insurance (This is talking about in India). There are many companies apart from these but you have to keep in mind what is in the policy cover.
Impact of corona pandemic
Currently, flights are being closed all over the world due to the corona epidemic. In such a situation, the question arises about flight cancellation that cover will be available on it. So the answer is that if the insurance has been done before the flight ban, then its cover will be available, it will not be available on the new policy.
INR 500 - INR 2 thousand cost
The cost of a travel policy depends on how much is the traveling cost, your age, the sum insured. Apart from this, it additionally relies upon many components, for example, where you are voyaging and for how long. For example, suppose you have to go to Mexico for less than a month, you may have to pay Rs 580 to Rs 1254 for a sum insured of $1 lakh (Rs 74 lakh).
Better to take policy 15 days before travel
Some insurance companies provide the facility of taking travel insurance till the day of the start of the journey but the best time to buy it is 15 days before the start of the journey. This also increases your chances of getting some bonal coverage. Most companies do not offer an opportunity to insure on the day of travel.
Some credit cards offer free travel insurance
You get free travel protection with Axis Bank Privilege Credit Card, HDFC Bank Regalia Credit Card, IndusInd Bank Platinum Credit Card, IndusInd Bank Platinum Aura Credit Card and Axis Bank Vistara Signature Credit Card and so on.
