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What Is Travel Insurance
Travel insurance is a type of insurance that covers the costs and losses associated with traveling. It is useful protection for those traveling domestically or abroad. Many companies selling tickets or travel packages, give consumers the option to purchase travel insurance, also known as travelers insurance. Some travel policies cover damage to personal property, rented equipment, such as rental cars, or even the cost of paying a ransom.
Frequently sold as a package, travel insurance may include several types of coverage. The main categories of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical expense coverage, and accidental death or flight accident coverage. Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire assistance, and re-booking canceled flights.
Benefits of Travel Insurance
Health Cover
It can be easy to misunderstand or underestimate the importance of travel health insurance, especially if you are one of those people who only travel for short distances or for very short durations. There are a lot of things that might not be necessary under your control. You may run into a severe condition that you probably did not anticipate before. If the duration of your trips is short and the frequency of more than one in a short period of time, you should opt for a multiple trip policy from insurer to ensure coverage. The Travel insurance policy also provides great health coverage and is one of the best that you can find. Due to the affordable travel insurance offered by many companies like Care, Tata, IffcoTokio, Hdfc, Bajaj and etc. customers can now rely on their insurance policy if they face a health crisis during their travels.
Passport Loss
A very terrible event that might occur is the loss of your passport. Because it is such an important document, you must be willing to keep it safe with you. Due to the fact that the loss of your passport might hamper your travel plans in entirety, it is a very important aspect of the travel insurance plans. There are certain costs and procedures involved in getting your passport back or having a new one made in a different country. In most cases, you will be issued a temporary pass with the help of which you will be able to pass through immigration conditionally. The costs involved are covered by the travel insurance policy. This allows you to be much more relaxed in the process and at the same time have no worries about the finances that are associated with the loss of your passport.
Hospital Daily Allowance
In the event where the insured person is hospitalized for a period of more than 48 hours almost all companies has accepted a liability under the medical expenses cover, then the company will pay the insured person a hospital cash benefit on daily basis that the insured person stays in a hospital, subject to the maximum limit as mentioned in the policy. This is a very important aspect while buying and during travel insurance renewal.
Personal Accidents
There could be unfortunate situations that might happen when you are traveling abroad. Emergencies can happen unannounced and so can accidents. When you are traveling to a new location, you might not be aware of what to do in such cases. In this situation travel insurance policy might be very useful. The policy will cover you for the expenses incurred in such situations.
Loss of Baggage
This might have happened to many people across the world and it is certainly not uncommon for us to hear about people losing their bags during the transit or at the airport. Therefore, the IFFCO Tokio Insurance Policy has come up with a comprehensive plan to tackle this concern. With the help of its amazing travel insurance plans, the IFFCO Tokio travel insurance policy is always ready to help customers who have lost their baggage. There are of course scenarios where the bags are delayed due to a luggage delay from the airport's end.
Types Of Travel Insurance
Domestic Travel Insurance
When travel insurance is provided on a domestic level insurance covers medical emergencies, accidents, route issues, flight delays, damage, cancellation, losing baggage, or other unforeseen situation due to which the customer has to face loss-- it is called domestic travel insurance
International Travel Insurance
International travel insurance covers those traveling outside of their home country.International travel insurance can provide you with coverage for expenses incurred due to illnesses or injuries during your travels, emergency evacuation, trip interruption or cancellation
Medical Travel Insurance
Travel medical insurance pays for emergency medical expenses during a trip. If you are traveling and have an unexpected illness, injury or medical condition that's covered by your travel medical insurance, the plan will reimburse you, up to the plan limits
Group Travel Insurance
Group travel insurance policies allow organized groups of 10 or more travelers to purchase one policy at a group rate. Group policies allow each traveler to have coverage for their top concerns, including cancellations and medical emergencies
Senior Citizen Travel Insurance
If you're 61 years old or above, Senior Citizens Travel Insurance is a special type of International Travel Insurance Plan designed especially for you. It also covers you against other common travel risks like personal accident and loss of baggage.
Single and Multi-Trip Travel Insurance
Single trip cover is a travel insurance policy for a one-off holiday. If you go away twice or more every year, it could work out cheaper to buy annual travel insurance compared to buying two single trip policies Provides cover for medical expenses in case you are hospitalized due to an accident, illness or injury during your journey. Provides cover for the costs associated with issuing a new passport (and visa) in case of loss, theft or damage during your journey.
Travel Insurance FAQ Guide
An international travel insurance plan is a type of insurance plan that covers a range of medical and non-medical expenses the insured may incur during an emergency when travelling outside India.
An international travel insurance policy is not a mandatory requirement in many countries. However, in some destinations, a valid international travel insurance plan is a prerequisite for visa application and during entry at the time of immigration check, e.g. a Schengen Visa. It is advisable to check the visa application rules of the country you intend travelling.
Care International travel insurance plan gives you adequate financial support against various events that can occur during an emergency while travelling overseas. That includes trip cancellation, loss of baggage, and medical treatment.
The policyholder can apply for policy extension online by paying the premium. One can extend a single trip policy up to a maximum trip duration of 365 days. The policyholder must apply for an extension before the policy expires and submit requisite documents, including health declaration. Our team will verify the information and grant permission for an extension of the policy. One cannot extend a multi-trip policy.
Documents Required For Travel Insurance
- Officially Valid Documents- Passport, Voter's ID, Aadhaar Card, Address and Aadhaar number, etc.(Any one)
- In addition to the Officially Valid Documents- PAN Card/Form 60
- Address Proof- Electricity Bill, Telephone Bill, Ration Card, Driving License, Passport, should clearly mention the permanent address
- Income Proof- Bank statement showing salary credit for latest 3 months, Latest 2 years Income Tax Returns, Latest year Form 16
- Medical Tests- Some companies may require medical check-up in order to make sure that the insured does not suffer from any chronic illness.
- For Self Employed (Any one)- Latest 2 years Income tax returns not filed in same year along with Computation of income, If computation of income not available: Latest 3 years Income tax returns not filed in same year, Form 26 AS