Travel Insurance: It is very important to know about travel insurance if you are fond of traveling or you often need to travel for office work. Just as life insurance and health insurance are important, travel insurance is also important. Travel insurance covers your travel. Under this insurance, if you have any kind of untoward problems in the journey such as accident, health problem, theft of baggage, flight missed, then the concerned insurance company gives you appropriate compensation. This insurance is not only available for foreign travel, but also for domestic travel.
Why travel insurance is important
Today, most people want to roam someplace to take a break from their daily routine. This trend has increased rapidly. In view of this, it is necessary to get travel insurance as it is necessary for many reasons.
- If you have a medical emergency during your trip abroad, then you may be worried about its expanse. In such a situation, in case of insurance, the insurance company will provide cover equal to the sum assured on your treatment. This facility is available not only on foreign travel, but also on domestic trips. Apart from this, sometimes it happens that there is no better health facilities in the place where you are, then it will be the responsibility of your insurance company to provide you timely treatment by transporting you to the nearest city or country.
- Some countries, such as Austria, Belgium, Denmark, France, Germany, Italy, Sweden, Switzerland, Australia, Cuba, and Dubai, UAE, have a condition of travel insurance before they are granted visas for their travel here. In such a situation, travel insurance is a mandatory condition for traveling there.
- During the journey, if something untoward happens to you and your cash is lost, then the insured company will ensure its availability.
- You will get compensation for anything untoward like a flight delay, baggage loss or flight hijack.
- Under Family Travel Insurance, not only you but your entire family will get insurance cover.
Essential qualification for travel insurance
Before taking a travel insurance cover, you must check the eligibility. It depends on what type of insurance you are taking.
- Under Family Travel Insurance, you, your spouse and two children dependent on you will be covered. The age of adults is between 18 and 60 years and the age of children can be from 6 months to 21 years.
- Under Senior Citizen Travel Insurance, the age of a person should be more than 60 years.
- Under Student Travel Insurance, people between 16 years to 35 years will get cover.
- Under group travel insurance, at least 10 people will get cover.
Where to buy travel policy
Taking travel insurance online would be more appropriate as it is convenient and its process is fast. However, which policy you should take, it will depend on what the options of an insurance policy are in front of you, what are the covers and what are not covered in them. Some of the travel insurance companies are Aditya Birla Travel Insurance, Bajaj Allianz Travel Insurance, Bharti AXA Travel Insurance, HDFC Ergo General Travel Insurance, IFFCO Tokyo Travel Insurance and Oriental Travel Insurance. Apart from these, there are many companies, but you have to take care what is in the policy cover.
Corona epidemic effect
Currently, flights are being closed due to Corona epidemic worldwide. In such a situation, the question arises about flight cancellation, that it will be covered. So the answer is that if insurance is done before the flight is banned, then its cover will be available, it will not be available on the new policy.
Cost from 500 rupees to 2 thousand
The cost of a travel policy depends on how much the travel cost is, your age, the sum insured. Apart from this, it also depends on many factories, such as where you are traveling and for how many days. For example, assuming you have to go to Mexico for less than a month, you may have to pay from Rs 580 to Rs 1254 for the sum insured for 1 lakh dollars (Rs 74 lakh).
It is better to take the policy 15 days before the trip
Some insurance companies offer the facility of taking travel insurance till the day of starting the journey, but the best time to buy it is 15 days before starting the journey. This also increases your chances of getting some bonal coverage. Most companies do not offer insurance on the day of travel.
Some credit cards provide free travel insurance
With Axis Bank Privilege Credit Card, HDFC Bank Regalia Credit Card, IndusInd Bank Platinum Credit Card, IndusInd Bank Platinum Aura Credit Card and Axis Bank Vistara Signature Credit Card etc. you get free travel insurance.