Trip Cancellation
Why Travel Insurance is a Must
Travel insurance is necessary for your vacation packages and without it all your travel dreams cannot come true. Travel insurance is essential for a traveler as it covers your medical and financial expenses and losses incurred on your domestic or international travel. It’s usually arranged at the time of booking the trip and covers the exact duration of the trip.
Many travel agents offer insurance, as part of their travel packages but it will be worth for you if you arrange it on your own through an online source. You can search for a good insurance policy and choose between single and multi trip insurances. If you plan to travel once in a year, then travel insurance of single trip policy will be suitable. But if you have plans to travel frequently then you can consider taking multi trip insurance policy. Continuous insurance can be bought from travel agents, travel suppliers like tour operators, cruise lines and companies offering travel insurance.
A multi trip insurance policy is commonly referred as annual insurance travel policy and can save big money in the long run. While arranging for insurance policies for travel, be clear with what the insurance coverage is provided along with the inclusions and exclusions. Always remember to look at other things also if you look for a compromise between your travel insurance coverage and the premium to be paid. Never assume that a policy with cheap premium will not offer good insurance coverage. This may work in reverse also. A policy taken at a higher price need not cover all aspects of insurance coverage required by you.
As a traveler you face lot of problems and risks while traveling like loss of property and money, trip cancellation, natural calamities, accidents, occasionally death and terrorist attacks. You cannot prevent these risks or stop your travel plan but you can reduce the risk involved by taking travel insurance policies.
The concept of travel insurance is very simple. You pay a travel insurance premium to the company and they in turn covers for your loss of valuables, accidents and unforeseen things.
The premium you pay for travel insurance covers risks faced on travel like:
There are lots of possibilities for trip cancellation due to unavoidable circumstances and last minute cancellation will fetch you very less amount as refund. Your travel insurance covers such losses and provides the cancellation cost but the reason for cancellation must be part of the agreement you have signed with the company.
If you lose your baggage then the insurance company pays for the baggage cost but again based on the rules of your insurance contract. A travel insurance policy sometimes covers your medical expenses if incurred while traveling. But if you have got health insurance separately then you don’t have to spend again for health insurance during travel.
Generally travel insurance covers other things like accidental death, medical evacuation etc.
An important golden rule of all insurance policies is to go through the agreement carefully because most of the time you apply for insurance policies during emergencies.
Travel insurance is offered with various options for different types of travelers like student, business, adventure, international and leisure travelers. Travel insurance is also offered for participating in sports involving high risk and traveling to certain countries which have a high risk.
Is Travel Insurance A Necessity In Overseas Travel?
Are you planning an overseas travel? If yes, a constant debate running through your mind would be, to purchase travel insurance or not
In the current situation of recession, a traveler may be tempted to skip travel insurance to save even that little amount of money. It is understandable that one wants to cut corners and not shell out extra money.
This brief article provides you with valuable insights when it comes to deciding whether or not you should buy travel insurance before you start your travel
Medical Expenses: Medical treatment abroad is very expensive. At least 10 times your home country! In an unfortunate event of an accident or sickness, requiring urgent medical attention, Travel Insurance comes very handy. Moreover, payment of hospitalization charges in foreign currency (Euros, Dollars) could mean a drain on your time to arrange for funds. The convenience of having cashless hospitalization provided by affiliated service providers ensures you financial independence.
Financial Emergency Assistance: You may land up being mugged or robbed in a foreign country left with no money to carry on your trip. A Travel insurance policy extends financial assistance, up to the limits specified under the travel policy.
Trip cancellation: There can be various unavoidable reasons which may require a trip to be cancelled like death, serious injury, illness of Insured or family members. You may lose money paid towards airline tickets, hotel bookings etc which are non refundable. A travel insurance policy will provide you a cover for the same
Loss or delay of Checked Baggage: Compensation is paid for the permanent loss of checked-in baggage. Also pays compensation for reasonable expenses incurred for the purchase of toiletries, clothing and medication due to delay of checked-in baggage for over 12 hours.
Much other coverage like loss of passport, hotel accommodation, and hijack distress allowance can be included in your travel policy.
There are many companies which offer travel insurance but there is more then one reason why you should select HDFC ERGO which focuses on right insurance solution for all with its variety of travel plans like gold, silver, etc. to suit your requirements.
Read about travel insurance at our site http://www.hdfcergo.com to get more information before you start your overseas travel. You can even buy travel insurance in just 3 easy clicks without any health check-ups & paperwork.