The growing economy has also made it possible for the families, especially the middle-class to consider travelling abroad an affordable option.
A few years ago, for the Indian travelers buying insurance was never a priority. In fact, the domestic travel insurance is yet to become a necessity for travelers, same cannot be held as a truth for overseas travel insurance.
According to a trend report released by global travel search site Skyscanner last year, Indians are becoming increasingly adventurous when it come to their travel choices. Now this brings into picture the concept of travel insurance in India? Though, a significant number of travelers are realizing the importance of travel insurance as a ticket to hassle-free vacations, a fair number of them don’t buy travel insurance even when they are aware of its significance.
Travel insurance protects a travelers’ investment in the journey they have planned to undertake. When one buy travel insurance, it ensures that a medical help is available in case of sudden illness. In fact, coverage won’t be available for pre-existing medical conditions or general check-ups. To be precise, the medical portion of an overseas travel insurance is more about emergency care instead of being a replacement for normal healthcare.
To avoid cases like when we have to spend the money (that was part of your shopping budget) on medicines, or an unfortunate incident of loss of luggage or burglary in a foreign country, overseas travel insurance will serve you just at the right time. However, when it comes to choosing the right international travel insurance policy, it pays to consider all the details well in advance.
One should understand that in the event of serious illness or injury, insurance payouts can run into huge sum of money. Also, high prices doesn’t always mean that the best coverage is given thus, before you buy travel insurance, list the aspects of the international travel insurance policy that are important to you. As a matter of fact, lessening the limit in the health care plan or removing certain options are likely to reduce the premium amount. An ideal travel insurance policy will offer the emergency medical coverage and since the policies vary, it is important to carefully read the offer document and understand exactly what is being covered.
Any good international travel insurance plan is likely to cover:
· Cancellation- The insured has the right to nominate the certain amount of coverage in case, something prevents them from travelling. From flight tickets to hotel bookings among other transportation, every cancellation gets covered under the same.
· Delay in travel- While your international travel insurance policy may cover the delay in travel. Make sure you read the fine print as it is unlikely to get a coverage for delay less than 24hours if the airline is at fault. Likewise, there may be exclusions related to natural calamities, war, terrorism or strikes.
· Cover all or most of the countries in the world.
· Unexpected illnesses and sudden injury.
· Twenty-four hour emergency services and help.
· Lost, damaged or stolen jewelry, baggage, documents, cameras, etc.
· Include personal accident coverage.
· Any legal expenses that may be incurred.
As a matter of fact, it must also be understood what is not covered in the travel insurance plan since it too holds utmost importance. Understandably, most policies do not cover accidental injuries sustained while participating in adventure sports activities like bungee jumping, paragliding, sky diving etc. Likewise, policies generally do not cover incidents occurring under the influence of alcohol or drugs. It wouldn’t matter much which travel insurance company you would choose in the end. On a lighter note, it will be good if you dedicate some for research and compare the different plans available in the market. Since all plans are different, they won’t necessarily suit the type of trip you will be taking. At the end, it’s better to be safe than sorry when you are thousands of miles away from home in a foreign land.