Insurance that covers travel related risks and liabilities that arise during travel - domestic or international is known as Travel Insurance. We collect a lot of memories while traveling either solo or with friends or family. We may go for pleasure or business – but what makes the experience stress-free is buying the right travel insurance to take care of any losses that may occur during the travel.

 

It is said that - “Travel; it is the only thing you buy that makes you richer!”

 

So, to ensure that traveling remains an emotionally rich and fulfilling experience, it is essential to buy travel insurance to protect you or your family from unforeseen circumstances. The types of travel insurance are –

 

• Family Travel Insurance
• Student Travel Insurance
• Corporate Travel Insurance
• Schengen Travel Insurance, etc.

 

A basic travel insurance plan has the following features –

 

• Coverage against travel related problems like delay or cancellation.
• Coverage against passport loss, baggage loss etc….
• Compensation against travel and accommodation due to delayed stay caused by unforeseen emergency circumstances or emergency travel from the destination

• Medical emergency and hospitalization during travel, or emergency travel like an air ambulance.

• Coverage for Personal Accident and liabilities
• Any legal liabilities and resultant expenditure during the trip
• Coverage of pre-existing conditions at no extra cost
• Easy claim settlement and cashless options

 

COST OF TRAVEL INSURANCE

 

Unforeseen circumstances like loss of baggage, loss of passport, medical emergencies, flight cancellations, etc. are taken care of by travel insurance. As a result, buying travel insurance is vital during travel. So, how do you find the cost of travel insurance?

 

Nowadays, with the advent of digitization, calculating the cost of the premium for any type of insurance has become easy and can be done from the comfort of your home. There are many online travel insurance premium calculators – either separate for every insurer or a combined portal for comparing policies – which can give you a tentative premium figure.

 

You need to provide the following details –

• Your name
• Name of the family members –in case of Family Travel Insurance
• Personal information
• Passport details
• Visa details, if applicable
• Destination details – Whether traveling domestic or international or a Schengen country
• Single trip insurance or multi-trip insurance
• Any add-on features of the policy

 

Once you fill all the necessary information, the portal calculates the cost of the premium for your travel visa for the desired destination on the desired dates. You can compare the policies and their premium prices for different insurers and choose the one best suited for your travel needs.

 

Is it worth to buy Travel Insurance?

 

It can be business or leisure, education or employment, travel has become an essential part of our lives with an increasing number of people traveling regularly. However, this rise in the number of travelers has given rise to the risks associated with traveling. As a result, it is essential to buy travel insurance if you want a stress-free, relaxing journey. Following reasons enumerate why it is worth to buy a good travel insurance plan –

 

1. Suffering a health emergency in a foreign land can be both traumatizing and costly. A comprehensive travel insurance plan covers health emergencies even in foreign countries like USA and UK, and protect you from emergency medical expenses.
2. It is mandatory for a traveler to possess travel insurance while visiting Schengen countries.
3. Travel Insurance covers the costs of air ambulance and air-lifting in case of medical emergencies.
4. Travel Insurance covers dental expenses caused due to accidents.
5. Rebooking, canceled or delayed flights can cost a bomb. Travel Insurance reimburses you against any cost arising from flight cancellations and delays. It also covers loss of baggage during travel.
6. A travel insurance plan provides reimbursements of all expenses arising from loss of your baggage. This includes compensation for loss of passport, travel documents, clothes, and such other necessities.
7. Travel insurance provides personal accident and liability coverage that takes care of any personal injury caused during travels as well as any third party liabilities.