A travel insurance policy protects you against financial losses incurred while travelling. Travel insurance policies defend you for the duration of your trip and assist you in dealing with any financial mishaps that may arise.
Different types of travel insurance –
- International travel insurance: Plans for international travel insurance may depend upon the countries the insurer covers.
- Domestic travel insurance: You can travel anywhere within India if you purchase a domestic travel insurance policy to cover your risks.
- Student travel insurance: This type of insurance cover students who may be travelling overseas for higher education.
- Senior citizen travel insurance: As the name implies, senior citizen travel insurance policies cover senior citizens (individuals aged 60 or older) who might be travelling.
- Single-trip: travel insurance: Single-trip travel insurance policies cover a journey for a predetermined number of days.
- Annual multi-trip travel insurance: If you happen to be a frequent traveller, you can get an annual multi-trip travel insurance policy covering your journeys within a year.
- Individual travel insurance: Individual travel arrangements encompass a single person and his family members who may be travelling with them.
- Group travel insurance: Group travel insurance policies cover several individuals under a single policy. Companies with employees who frequently travel for business can purchase a group travel insurance policy. Similarly, a tour operator can get group travel insurance for people travelling together on a package vacation.
Seven most essential points to keep in mind for a valid claim:
- Always file a police report for stolen property: If you lose your belongings while travelling, you must file an official police report with the police station in the area where the loss occurred. Remember to request a copy of the report. A claim without a proper documentation may not be considered valid.
- Understand the meaning of the word “unattended”: Leaving personal items in public places, like a bathroom stall, store counter, etc., can be an example of leaving your belongings unattended. Any stolen property claims resulting from such actions can be invalid.
- Ensure to file the claims on time: You must submit your claim within thirty days after you have returned from your trip. The insurance provider may not consider any claims made after this time.
- Non-listed places in the policy: If you travel to a destination not covered by your policy, you may not be eligible to file a claim during that trip. Inclusive of any intermediate stops.
- Keep all pertinent papers nearby: In case of a claim for lost or stolen things, you may need the original receipts for all the items for which you are filing a claim.
- Have enough policy coverage: Before purchasing a travel insurance policy, ensure that the product disclosure statement can be an ideal fit for your needs by carefully reading/scanning it. *
- Consider the possibility of paying a surcharge: Be aware that most travel insurance policies have an excess; if you do not wish to pay an excess fee during a claim, you must include an excess waiver and pay a higher premium.
* Standard T&C Apply
A travel insurance policy with broad coverage and affordable premiums should be easy to find online. It can be helpful to cover your trips to be safe from any unfortunate circumstances. *
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.