Preparing oneself means protecting oneself from against the hiccups that may arise while on a vacation; ll expenses related to medical, theft and loss, accidental reasons. These may include mishaps, accidents, illnesses or any other unfortunate accidents. Encountering such accidents may rob the person of the objective of the vacation and prove to be a waste of money.
While planning a vacation and making the right bookings, it is important to protect your health and the health of your family at the same time. It offers compensation for various contingencies such as accidents abroad, trip cancellations, tour operator defaults, loss of baggage, loss of passport, etc.
There are different types of travel insurance policies that one may avail to in India. These include:
1. Student Travel Insurance: Students usually take this plan when they travel abroad for their higher studies. This insurance policy includes personal liabilities, personal medical expenses, and loss of baggage or important documents while the student is in the foreign land.
2. Indian Overseas Travel Insurance: This type of plan is taken for international vacations/trips. Here, it is important to remember that you take an insurance coverage as per the regulations of most countries of the world. The insurance usually covers costs of repatriation, death and or personal accident, loss of documents and or personal belongings, medical expenses etc. while travelling abroad.
3. Domestic Travel Insurance: For all the trips that are taken within the country either by flight or train a domestic policy is taken. The insurance covers you against all expenses incurred on account of personal accidents, emergency hospitalization, loss or theft of baggage and belongings.
4. Single Trip Insurance: A single Insurance policy is used for the period of travel for a single holiday.
5. Multi-trip Insurance: Frequent travellers may avail for this type of policy. It is an annual policy and covers you against any emergency or unexpected costs, such as flight delays, cancellations, lost luggage etc. that may arise while on your vacation abroad. Discounts may be offered for this type of policy.
6. Medical Travel Insurance: Medical travel insurance is a type that helps travellers to get a medical coverage while travelling to a foreign country. It provides coverage for medical expenses during hospitalization, medical evacuation, repatriation etc. It also covers the insured for other non-medical risks such as baggage loss, baggage delay, passport loss etc.
Travel Insurance Policy is extremely beneficial and is a necessity in India for the following reasons:
Loss of baggage
Death and Overseas Funeral expenses
Emergency evacuation or delayed departures
Emergency Medical Evacuation