Benefits of Travel Insurance
There are several reasons because of which travel insurance becomes necessary in India.
- Medical expenses - in case of sudden medical emergencies insurance will take care of all the cost coverage of hospitals and medicines costs. In some emergency cases surgeries can be done depending on the nature of the policy.
- Loss of baggage - in this category the loss of important travel documents, money, and personal possessions are included.
- Death and Overseas Funeral expenses - in case of accidental deaths that may occur and subsequent funeral services insurance coverage will take care of the expenditures.
- Emergency evacuation or delayed departures - in case of expenditures that may be incurred due to an emergency evacuation before the scheduled date or delayed departures where the cost of tickets may be non refundable insurance coverage can be used.
- Emergency Medical Evacuation - in case of serious illness and a dearth of adequate medical services
- Legal Assistance - insurance cover can be used to meet expenses in case there is a need for legal assistance during one's travel period.
- Student Travel Insurance - This policy is specifically for those students who are traveling abroad for higher education purposes. An insurance cover is mandatory because of any emergency that may arise during the tenure of stay in a foreign land. This insurance coverage takes care of personal liabilities, personal medical expenses, loss of baggage or important documents.
- Indian Overseas Travel Insurance - In this policy insurance coverage is provided in all aspects of an international travel plan. However it is compulsory for all travel plans to have an insurance coverage as per the regulations of most countries of the world. this insurance policy covers costs of repatriation, death and or personal accident, loss of documents and or personal belongings, medical expenses etc.
- Domestic Travel Insurance - This policy takes care of all expenses incurred during domestic travels within the country. This insurance covers all expenses incurred on account of personal accidents, emergency hospitalization, loss or theft of baggage and belongings.
- Single trip Insurance - This is a policy that covers for the period of travel of a single holiday.
- Multi trip Insurance - This comes as an annual policy that can be taken by those who are frequent travelers. As part of the offer for a long term of the policy there are additional coverage that is provided as well as discounts are offered.
- Medical Travel Insurance - In case of a businessman and his employees who travel abroad frequently a business travel insurance policy needs to be taken. This is a different policy as compared to the widely used group insurance policy. It covers specific business related losses and is thus important for such travelers.
Travel Insurance Companies in India provide various policies that are vital in case of international travel. Besides being a mandatory requirement of an international travel plan these policies provides a necessary safeguard against any unfortunate incident that may take place during the period of travel.
Top Travel Insurance Companies in India
There are several companies that provide travel insurance policies for overseas as well as domestic travel.
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ICICI Lombard - This policy of ICICI group is a comprehensive travel insurance policy that takes care of all medical and non medical expenditures that may be incurred in a foreign country. The coverage provided by this company is in case of loss and delay of baggage and personal belongings and in cashless hospitalizations and emergency medical attention on a worldwide basis.
- Tata AIG - The Company offers a variety of coverage in a foreign country through their travel insurance policies. Some of these policies can also be bought online. Their insurance coverage ranges from emergency medical assistance to lost baggage and personal belongings, from medical evacuation and payment of medical expenses abroad to coverage for the loss of important documents like passports. .
- Cholamandalam - There are three policies available in the sphere of travel. These are policies for Short term travel, student travel and corporate travel. There are some custom made terms in these whereby the interest of the traveler or policy holder is understood. It extends to cover even senior citizens and adventure sports also..
- HDFC ERGO Travel Insurance - There are a wide range of policies that are available that covers individuals from the age of 3 months to 70 years of age. The main features of the policies of this company are emergency medical expense, cashless hospitalization and medical evacuation apart from the regular coverage available. Additionally there are no medical or health check ups necessary for taking up a policy..
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