Why Travel Insurance Matters? - Exploring Its Benefits and Importance

Whenever you plan your trip abroad for work and recreation, your foremost concern is your personal safety. Although you plan your trip through a reliable travel agent or a trip advisor, certain unforeseen events, such as an illness or a sudden unfavourable event, may cause unnecessary problems. Often, such emergencies compel you to spend money from your savings. In such an event, an ideal travel companion comes to your rescue and saves you from financial burden -Travel Insurance.

In this blog, you will learn the significance and benefits of buying travel insurance online before embarking on your overseas journey.

Why is it Essential to Have Travel Insurance Before Going on a Trip?

Before jetting off on your next adventure, purchasing travel insurance is crucial. A travel policy provides peace of mind and financial protection, by covering unexpected medical and non-medical emergencies that you may face during the trip.

Which Unforeseen Events Does Travel Insurance Cover?

Travel insurance provides coverage for a range of unforeseen medical and non-medical events during your overseas trip. These events may include:

• Medical Emergency: Travel insurance can cover hospitalisation expenses, surgery, and other medical costs that you may face while travelling. It may also cover emergency medical evacuation to a suitable medical facility or repatriation of remains to the home country.

• Trip cancellations, interruptions, or delays: Unforeseen events like adverse weather conditions can disrupt your trip. Travel insurance can reimburse you for non-refundable expenses like flights, accommodations, saving you from significant financial loss.

• Loss of passport and personal belongings: Travel insurance covers the costs of replacing a lost or stolen passport, and reimburse you for lost or stolen luggage and personal belongings.

• Personal liability: If you're responsible for damage to someone else or their property, travel insurance can cover the compensation costs, protecting you from unexpected financial burdens.

• Evacuation due to socio-political unrest or natural calamities: In the face of unforeseen events like sudden political unrest or natural disasters, travel insurance covers the cost of emergency evacuation.

• Travel Assistance: Travel insurance companies provide 24/7 travel assistance services, providing invaluable support and guidance when you're in unfamiliar territory or facing unexpected challenges.

Travel insurance is a critical consideration for any traveler, offering comprehensive financial protection and peace of mind while travelling abroad.

What are the Benefits of Having Travel Insurance for an Abroad Trip?

A travel insurance offers wide range of benefits during medical emergencies, including:

• Financial Protection: Medical emergencies abroad can be financially devastating. Travel insurance safeguards your savings by covering hospitalisation, surgery, and other medical costs.

• Emergency Medical Evacuation: If you are advised to return to your home country due to a serious illness or injury while travelling, travel insurance can cover the cost of a first direct return economy class flight.

• Repatriation of Remains: In the unfortunate event of a loved one's passing during your travels, travel insurance can cover the repatriation costs, helping you bring them home with dignity.

• Security Evacuation: If political unrest, such as a war, terror attack, or other life-threatening situations, suddenly breaks out during your overseas trip, travel insurance can cover the cost of evacuating the insured to a safe location.

Does Travel Insurance Cover Adventure Sports?

Some comprehensive travel insurance plans also offer comprehensive coverage for specified adventure sports and unprofessional high-risk activities.

However, the coverage for such adventure activities may be limited and subject to certain conditions, such as requiring the activity to be supervised by a trained professional.

What are the possible Exceptions in the case of Adventure Sports Coverage?

Typical exclusions for adventure sports and high-risk activities in travel insurance policies may include the following scenarios:

• Professional sports or activities where you receive payment

• Activities not supervised by a trained professional

• Activities undertaken against the advice of a medical professional or while under the influence of drugs or alcohol

• Specified high-risk activities, such as skydiving, bungee jumping, or base jumping, may not be covered.

• Water sports or high-altitude activities.

How Does Travel Insurance Cover for Trip Interruption?

If you have to curtail your trip due to unforeseen circumstances, the non-refundable bookings and accommodation costs for the rest of the trip are covered per the policy terms. However, such coverage may be limited to non-medical emergencies and may not cover the medical complications occurring to the travellers or their companions.

How Early Should I File a Claim for Trip Interruption?

If you face an unforeseen event for which you have cut short your trip interruption insurance, you must inform the insurance company of the incident as early as possible. After that, you generally have 30 days from the incident date to submit the required documents and claim form.

To Sum Up

With that, you are now well-informed about the significance of travel insurance for your overseas trip. Next time, you must judiciously plan your trip abroad and search for the most suitable travel insurance online. You can compare different travel insurance plans and buy travel insurance with a broad scope of health and non-medical coverage.

However, before making a buying decision, it is essential to carefully read the fine print of the travel insurance policy and understand all the terms and conditions and policy exclusions to avoid any slip-ups during your trip.

This way, you can enjoy every moment of your journey and take back only pleasant memories and no regrets.

Bon Voyage!

(No Hans India Journalist was involved in creation of this content)