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Sep 29, 2020

What is Travel Insurance?

Travel is a significant part of every individual’s life. Whether it’s for leisure or business, every person sets off to an unknown land at some point of time. However, when a traveler undertakes a journey overseas, the chances of uncertainties are high. Due to the unpredictability of life, an individual must ensure that they are financially equipped to deal with such circumstances. This is where the importance of having a travel insurance policy arises. What is Travel Insurance? Travel insurance is a product that provides coverage for unfortunate events like trip cancellations, flight delays, loss of baggage or passport or any medical emergency arising in the middle of a trip. There are a plethora of options for travel insurance in the market. Every policyholder must consider their needs and select the type of coverage they wish to purchase. Types of Travel Insurance:
  1. Travel insurance for individuals
Solo travellers are always at a risk while traversing through a foreign land on their own. An individual travel insurance provides coverage for medical emergencies as well other predicaments related to your flight, cancellation, baggage & important documents.
  1. Travel insurance for families
A family trip is an exciting idea until something goes south. A family travel insurance policy is created keeping this is mind and provides coverage to the policyholder, the spouse up to 60 years, and two children under 12 years of age.
  1. Travel insurance for students
Living in a foreign land is already a challenging venture. A student travel insurance plan covers students comprehensively for their medical expenses, as well as emergency hospitalization.
  1. Travel insurance for senior citizens
While travelling is always fun, it may take its toll on the elderly. Elderly citizens who fall under the age category of 61-75 years of age are covered under the health insurance for senior citizens . This policy keeps in mind their requirements and aims to cover all common risks and reduce their hospital bills when they need it most.
  1. Travel insurance for domestic trips
Bajaj Allianz General Insurance introduces ‘Bharat Bhraman’ policy for all the people travelling within India. A domestic travel insurance comes with comprehensive coverage for all possible perils that may arise on your trip within the country. Selecting the right travel insurance policy is a tricky business. While a majority of people get lost in the pool of alternatives, the rest of them choose a plan with inadequate coverage. Therefore, go through the following points mentioned below before you purchase a travel insurance policy: Things to consider before selecting a travel insurance plan:
  • Choose a plan based on your needs and preferences. Don’t be fooled by the lower premium rates. Evaluate the coverage amount and check if it can suffice your requirements.
  • Opt for a reputed insurance company. A credible insurance company like Bajaj Allianz General Insurance provides a host of benefits and features to ensure the safety of the policyholder and his/her loved ones on the trip.
  • Disclose all the relevant details like the destination, the hotel address, and so on.
  • Submit all the details in the medical form accurately.
  • Insure the valuables and personal belonging like baggage in case you’re worried about losing it.
Hope that this has helped in answering your question, “what is travel insurance?” Whether you’re leaving for an international trip or a domestic travel journey, you should buy a travel insurance policy. Before purchasing a travel policy, go through the multiple travel insurance reviews to select the best plan. Bajaj Allianz General Insurance provides a policyholder with varied coverage options to match their requirements.  

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