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July 29, 2016

Planning an international travel can be extremely exciting; from the packing to actually scheduling the itinerary, there are many little things that you need to keep in mind. Traveling overseas is also a perfect time to let you hair down and experience a new locale and culture. Therefore, it is also important to protect yourself from possible risks that are involved from traveling. The best way to do this is by getting a travel insurance.

What is travel insurance?

Travel insurance is a comprehensive insurance cover that protects you and your family from both medical and financial emergencies that might come up while traveling.
Types of travel insurance

  • Student Travel insurance: Ideal for students who have gone abroad to study.
  • Business Travel Insurance: Ideal for business travelerswho travel for work.
  • Holidays/Leisure Insurance: People travelling to other country on a leisure trip are covered under travel insurance.
  • Corporate Frequent Traveler: Ideal for those who travel frequently on short trips often. It lets corporate take a cover for a year saving them the hassle of having to buy the insurance each time they travel.

Benefits of overseas travel insurance

Travel insurance is something you need to set up as it will ensure you a safe trip. It should be taken at the time of booking of a trip itself. It also offers coverage for medical expenditure, trip cancellation or delay and any other unforeseen circumstances that you might run into.

Emergency medical treatment and assistance

In case of any medical emergency or an accident, overseas travel insurance will come in extremely handy. Medical treatment abroad can be extremely expensive and without a proper insurance cover, you will have to shell out a lot of money out of your pocket to pay for the treatment yourself. Medical expenses during Travel incurred by the insured persons, outside India as a direct result of bodily injuries caused or sickness or disease contracted are covered.Whereas, if you do have a cover, you can easily manage your hospital expenditure when aboard and have a hassle free trip. Insurance policies vary, so read the fine print carefully to see exactly what is covered. It is a good idea to compare various policies and take a decision based on what suits your need best. Policy99 offers a wide range of international travel insurance from top insurers. Compare and choose the plan with best benefits at affordable costs.

Trip Cancellation

Airline companies are known for delaying flights or canceling it last minute. As a passenger, this can cause you a lot of money, especially if you are traveling to exotic destinations. Missing one flight can lead you to miss connecting flights or hotel accommodations. However if you have a good insurance cover, it will take care of your loss. They will compensate you for the delays and compensation. Also ensure that that you get it in writing from the airline that the event occurred; else the claim might be rejected.
It is important to note that you need to pick a good overseas, which includes cancelations and delays as well. A good idea would be to

Baggage & personal belongings

Have you ever had this situation where the airline seems to have lost or misplaced your baggage or you have lost your personal belongings during a trip? No? Then you are lucky. Often, this does happen and during these times, overseas travel insurance comes in handy. Although most airlines does compensate for your baggage loss, it is never enough. Travel insurance goes some way in ensuring that the cost of your belongings is at least recovered. This is especially convenient if you are traveling with laptops or any other expensive electronic items.

Emergency financial assistance

During your travel, in case your wallet is robbed or your hotel room is burglarized, you will be more than happy that you have an insurance cover. Travel insurance will be of assistance to you at this time. Monetary assistance is provided if the insured loses all or substantial part of his travel funds. In case of loss of important documents such as passport, overseas travel insurance also covers the fees to reapply for such documents.

Exclusions in Overseas Travel Insurance

While travel insurance is highly essential and has a ton of benefits for travels, there are also a few exceptions. It is important to know them ahead. Here are a few of them you should know:

  • Pre-existing disease
  • AIDS or HIV
  • Participation in adventurous activities such as bungee jumping, parachuting, etc.
  • Self inflicted injury or suicide
  • Participation in criminal act
  • Treatment of nervous and mental disorders