What is Travel Insurance
Every one of us likes to travel and explore the world whether it’s for leisure or work. Nowadays it’s not just holidaying, more and more people are opting for eco-tourism, adventure tourisms or even village tourism. Many people still plan for their dream holiday in Europe or United States of America. But like all other things, even travelling does have their share of risks and unforeseen anguish. Anyone travelling overseas or even domestic should make their itinerary safer by adding travel insurance for few thousand rupees. While travelling there might be situation arising like loss or theft of baggage, delay of flights leading to financial loss, loss of passport and even some medical emergency in any foreign country. With travel insurance, you and your family can travel without any concern and enjoy the much-needed break from the hectic work life. Probus insurance will help you in selecting best travel policy with cheap rates and seamless buying experience.
Types of Travel Insurance in India
- It is always advisable to buy the travel insurance at the time of trip booking so that coverage of the entire trip can be covered-whether its single or a multi-purpose policy. Such travel insurance covers medical expenses such as evacuation and repatriation from the foreign country. Below are the types of travel insurance available in India and one can choose it according to their needs.
Domestic travel insurance
- As name suggests, domestic travel insurance is an insurance offered to customers for travel within India. It is a policy which guards the policy holder in case of problems while travelling. It provides coverage for medical emergencies during their travel, permanent disability and death, baggage loss, travel delay and personal liability. Any Indian citizen travelling within India can purchase domestic travel insurance. Foreigners, who have work permit to work in India, can also purchase Domestic Travel Insurance for travelling within India.
International travel insurance
- Though it’s not mandatory, but it’s very important to buy International travel insurance before starting on a foreign trip for any purpose. It provides protection against unseen medical and non-medical emergencies during the trip. Any individual who is below 85 years of age needn’t undergo the medical check-up for buying International Travel Insurance. It helps in being worry free on a foreign trip. These type of policy covers for medical expenses overseas, hijack, baggage and travel delays, repatriations/evacuation to India, and loss of travel documents/passport besides the usual coverage offered in normal travel insurance.
Individual travel insurance
This is an important policy to buy when you are travelling abroad alone. It offers various benefits along with normal benefits like Emergency medical expenses, Repatriation in case of medical emergency, Repatriation of mortal remains, any dental emergency expenses following an accident, Compensation following accidental injuries, Baggage Loss and other benefits.
Corporate travel insurance
- Employees of any corporate or organization can get coverage for both domestic as well as international travel under Corporate travel insurance.
Student travel insurance
This is a policy for students who are travelling abroad for further studies. It offers comprehensive coverage in the form of expenses incurred on medical treatment, passport loss and other reasons leading to study interruptions.
Senior citizen travel insurance
This insurance caters to the age group of people between 61 and 70. It offers coverage for dental treatment and cashless hospitalization along with normal travel insurance coverage.
Family travel insurance
This is policy for entire family and the entire family is covered under one policy. It offers coverage for hospitalization, baggage loss, and other incidental expenses. All family members are covered under a single policy with single premium. Here, the sum insured is shared among family members. Additionally, a few international travel insurance policy also cover robbery and burglary for the flier’s home in India during their trip abroad.
Single trip Travel Insurance
This is typically suited for an occasional traveller, as the name suggests. The maximum coverage provided under this type of travel insurance policy do not exceed more than six month even as it might change from company to company. These types of plans are tailor made for businessman, individuals and families who want to travel overseas on special occasions. Most common covers offered under Single trip travel insurance plans are accidental death, emergency evacuation, medical expenses, disablement benefit, and delayed departure & baggage.
Multi trip Travel Insurance
Especially made for people who frequently travel overseas. Typical multi-trip travel insurance is valid for one year and the customer gets to choose from 30, 45, 60 and 90 days as the duration of their trip. This type of travel insurance policy helps the flier to save considerable money and time. As the flier has to pay the premium once and be covered for the entire trip irrespective of the number of trip he/she undertakes during the entire year when the policy is valid. Flier has to pay the premium once for the entire year, irrespective of no. of trips he/she undertakes during policy period.
Group travel insurance
Group travel insurance is an insurance plan that will cover a group of people who might or might not belong to the same family for their overseas or domestic trip. Group travel insurance is cheaper when compared to individual travel medical insurance. A team of travelers going for a holiday, or employees of a firm traveling overseas to participate in a seminar or conference can choose group travel insurance. One advantage of group travel insurance is that they can be customized according to the groups specific requirements.