So, here you are with your bags packed, air tickets printed out and a big smile on a face. After all, it is your international holiday so you have enough reasons to be excited. But wait, have you bought a travel insurance for yourself?
You might be thinking it as an expense which will put extra pressure on you pocket. By avoiding a travel insurance, you will be able to save some money, which you may want to spend on buying a new dress for yourself. But, before you pat yourself for your ‘brilliant’ idea’, take a look at the following events –
- June 3, 2017 : The London terror attack – Eight people killed and many others injured.
- May 22, 2017: The Manchester terror attack – Nearly 22 casualties and more than 59 injured at the Ariana Grande concert.
- December 19, 2016: The Berlin terror attack – A terrorist drove a lorry into a packed Christmas market in Berlin, killing nearly 12 and injuring more than 60 people.
- October 3, 2016 – The famous reality star, Kim Kardashian lost $ 10 million in jewelry when she was robbed at gunpoint in one of the hotels in Paris.
- November 13, 2015: The Paris terror attack – Terrorists slaughtered around 130 people and injured hundreds of other during the terror attacks in Paris.
- May, 2015 – Globally, 6.5 bags per thousand passengers got misplaced, as per the annual baggage report by the Geneva-based technology service provider SITA.
The above facts may frighten you a bit, however, instead of panicking and dropping the idea of traveling (the worst idea), it is necessary to find a midway. Though, we wish you a safe and secure holiday, you can’t rule out the possibility of facing issues like flight cancellation, medical emergencies, loss of baggage/passport, etc. Hence, it is necessary to insure yourself when you are going away from your home.
Travel insurance is a savior
A lot of planning and excitement are involved in making a perfect trip, however, unforeseen events, like illnesses, accidents, etc.; do not come with a notice. So, be a smart traveler and buy a travel insurance policy before flying. A travel insurance policy insures you against the risks of a medical emergency or any financial loss that can leave a bad impression on your journey. Some of the common risks covered by travel insurance policies are-:
- Foreign medical expenses
- Loss of baggage
- Cancellation of trip
- Accidental injury or death
- Theft, damage, or loss of personal items
Moreover, if you are travelling to the Schengen area, which comprises of 26 European nations, it is mandatory to have a travel insurance policy with minimum coverage of EUR 30,000. Now, when you have understood the importance of travel insurance, here are some useful suggestions to help you buy the right travel insurance policy –
1. Nature of travel and travellers
Travel insurance companies offer various policies as per your needs, like student travel insurance, senior-citizen travel insurance, business travel insurance etc. If it is a single trip, you should go with a one-year travel insurance policy, in case you are a regular traveler, go with multi-trip travel insurance policies which will cover more than one trip during a policy tenure. Carefully scan through all the available options and then choose a travel insurance policy as per your requirements.
2. Medical expenses
Irrespective of your traveling destination, medical emergencies can confront you anytime and anywhere. As healthcare is very expensive, especially in countries like, USA, UK, France, Australia, etc.; a small medical need can burn your pocket. So, before taking off, buy a travel insurance policy which also promises to cover medical expenses as well. Some travel insurers also insist upon medical tests before finalising a policy and it is in your best interest if you take such tests which will give you a clear idea about your current health state and thus, help you in choosing the right coverage. A medical travel insurance policy takes care of various events like medical bills, cashless hospitalisation, emergency medical expenses, pre- existing conditions, etc.
3. Trip cancellation
A trip can be cancelled due to various events like a natural calamity, technical snag, etc. Your money spent on pre-booking of flight tickets, hotels, etc.; can be saved if you have a travel insurance policy which offers trip-cancellation charges as well. Here are some of the events when a travel insurance company will cover trip cancellation –
- Sudden hospitalisation or death of a non-travelling family member
- Weather or airline related issues
- Luggage is lost, stolen or damaged
4. Personal belongings cover
A baggage loss not only spoils your holiday mood, but also creates financial troubles for you. It is, therefore, necessary to buy a travel insurance policy which offers loss baggage cover also i.e., it covers you when there is a baggage loss. A simple camera can cost you between Rs 20,000 and Rs 1 lakh, hence buying a cover for such belongings is necessary.
Just like it is necessary to check what is included in a travel insurance policy, it is equally necessary to see what is not. Don’t fall for the plan with lesser premiums and carefully look for inclusions and exclusions.
You can buy travel insurance online as well and enjoy the convenience and cheaper premium rates without involvement of any agents. The entire process will not take more than a few hours of research. As you are looking forward to a happy vacation, buy a travel insurance policy now to have a 360-degree complete coverage.
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