Travel Insurance is Must While Going on Foreign Trip; Here are 5 Things That Can go Wrong on International Trip

Here is a list of 5 protection layers that travel insurance policy provides you.

Summer vacation has started with many of us already busy in making travel plans. While you book tickets and hit the mall for shopping, do not forget to buy travel insurance before setting out on the journey.  Do not go by the approach that calamity befalls others and not on you and your family. Hence you need to have a travel insurance policy to stay covered if anything wrong happens on the trip, especially when you are not in your country.

Here are five things that your travel insurance policy should cover

Medical Cover– According to estimates, 75 per cent of the claims are medical in nature. Given the medical cost is very expensive abroad, you cannot afford to fall ill while travelling abroad. But if it happens you need to have a travel insurance policy to come to your rescue.

Parag Gupta, Chief Underwriting Officer, Bharti AXA General Insurance, says, “Every traveller’s worst nightmare is requiring emergency medical assistance in a foreign country. Emotional trauma aside, the foreign medical cost could be extremely steep with some hospital bed cost coming to as much as Rs 40K per night.”

Travel insurance policy is important as it covers your hospitalisation cost in case of a sudden illness.

Anurag Rastogi, Member of Executive Management, HDFC ERGO General Insurance Company, says, “If a traveler faces an injury or falls sick, this cover will include the cost of hospitalisation, surgery, prescription drugs, outpatient visits, etc. One must check for a policy that covers both primary medical and sudden incidental expenses. In addition, it should cover medical evacuation if necessary, and in the event of death, repatriation of the insured’s body to the country of origin.”

Luggage and personal belongings cover – It is not in India alone, stories of baggage getting stolen or lost are heard from all over the world.  According to data, USA ranked first and Spain ranked eighteenth in terms of total crime, theft, robbery and mugging.

It is important to have the baggage lost covered under the policy as it would be very difficult to survive in the foreign land without having necessary things at your disposal.

Rastogi, says, “Travel insurance provides for lost, stolen, or damaged baggage and personal items. One should also ensure the policy covers high-value items. Delay and /or loss of checked in baggage should also be covered. The sum assured can always be increased by paying an additional premium.”

Cancellation cover- Travelling is always unpredictable. You never know what could happen to send you home back early. In such situations where one may need to cut short or cancel their trip due to emergencies, it is always good to have the situation covered under the travel insurance policy. Rastogi says, “This covers any travel and accommodation costs that travellers need to pay due to cancellation or curtailment of the trip for any reason including inclement weather or ill-health, as well as any pre-paid expenses.” It also covers the costs of unexpected accommodation, meals, and transport in the event of the flight getting delayed.

Travel Delays Cover- Travel delays are very common. It is therefore needed to cover yourself against such emergencies.  Parag Gupta, Chief Underwriting Officer, Bharti AXA General Insurance, says, “18 per cent flight delays and 2 per cent cancellations in 2015 highlight the need for an insurance that covers even non-refundable expenses such as trip getting interrupted or cancelled due to airline problems, natural disasters, etc. With travel insurance one can expect to get reimbursement of delayed and cancelled trips.”

Personal liability cover- The policy protects you from paying for any damage caused by accidental bodily injury or damage to property.  Having personal liability protects you from paying damage to the third party in case of any loss.

Do buy a travel insurance policy to enjoy your vacation to the fullest.