Travel Insurance Information

Travel Insurance is a type of insurance that covers different risks while traveling. It covers medical expenses, lost luggage, flight cancellations, and other losses that a traveler can incur while traveling. Travel Insurance is usually taken from the day of travel till the time the traveler reaches back to India.

Understanding Insurance-

• Travel insurance covers financial losses from unexpected circumstances that can ruin a trip, such as illness, injury, accidents, flight or other transportation delays, and other problems. This insurance costs 4% to 10% of the price of a trip. So, for a Rs 10,000 trip, trip insurance can cost between Rs 400 to Rs 1,000.
• Premiums—the price you pay for coverage—are determined based on the coverage type, age, destination, cost of travel, and more. 
• Specialized policy riders focus on the needs of the business traveler, sportsman, and expat.
• You probably already have travel insurance coverage through your homeowners or renters insurance or your credit card.
• Contact your insurance agent and your credit card company to learn about your current travel coverage and benefits.
• Many travel rewards & records include built-in travel insurance and other travel benefits.

 How Insurance Works-

• Travel insurance protects you from financial losses caused by unexpected events, such as illness, injury, accidents, flight or other transportation delays, and other problems.
• When you buy travel insurance, you have to pay a premium to the insurance company. This premium depends on the cost of your journey and other factors.
• If an unexpected event occurs and you have to cancel your trip, the travel company can pay your losses, protecting you from financial loss.
• You have to immediately inform the travel-related incident to the travel company so that they have time to assist you.
• Travel insurance provides you with self-protection and peace of mind while traveling
• Because it saves you from frustration and stress.

   Trip Cancellation or Interruption Coverage-

• Trip Cancellation Coverage: This coverage protects against losses due to trip cancellation. If you have to cancel your trip due to an emergency, such as illness, injury, transportation delay, or any other unavoidable reason, the insurance company may reimburse you for your expenses.
• Travel Interruption Adversity Coverage: This coverage protects against loss if the journey is interrupted due to some unexpected event during the journey. If your trip is interrupted due to unexpected reasons, the insurance company can pay your expenses, such as hotel accommodation, payment for natural emergency events, or immediate expenses including interest paid for the indefinite period of the trip.
• Provide Protection: Travel insurance provides you with financial protection while traveling, covering unexpected medical expenses, trip cancellations, and other contingencies.
• Comprehensive Coverage:  Insurance usually covers medical checkups, medical treatment, lost contents, and other things.
• Buy As Per Requirement: You should choose appropriate insurance based on the type, location, and other requirements.
• The Most Important Thing: Travel may also be covered by an already insured homeowner’s or credit card, so it’s important to check your current status.