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Reasons You Should Buy Travel Insurance

There are no guarantees in life, and your travel plans are equally prone to unpredictability. From getting mugged to having a bad accident, a lot can go wrong while abroad. This is where your foreign travel insurance can soften the blow and protect you financially. 

What is Travel Insurance?

A travel insurance policy offers financial compensation for many emergencies you may face during your trip. A travel insurance plan secures your journey from unexpected expenses because of various medical, legal, and booking-related emergencies. Most travel insurance plans in India provide coverage for the following:

  • Hospitalisation Expenses Abroad
  • Loss of Passport
  • Personal Liability
  • Aircraft Hijacking
  • Baggage Cover
  • Cover for Sickness
  • Medical Evacuation & Repatriation
  • Lost or Stolen Baggage
  • Personal Accident
  • Trip Delay

Features of Travel Insurance Plans

Any trip outside India requires a lot of bookings and non-refundable expenses. Having the best travel insurance ensures you make the most of this trip without spending extra on avoidable expenses. Here are some great reasons to buy travel insurance online:

  • Cashless Treatment Facility: You can opt for cashless hospitalisation if you need it abroad. You can visit the network hospital for your treatment after contacting your insurer. Your travel insurer will help you avail of cashless services across the globe.

  • Fulfils Mandatory Requirement: Many countries need you to buy valid travel insurance before they issue a visa. To visit such countries, you must meet the stated coverage requirement. You can quickly look up travel insurance plans online and meet the necessary document requirements to get your visa.

  • Easy Comparison of Travel Insurance Plans: Buying travel insurance online allows you to easily compare different travel insurance plans for the trip. You can learn how to compare travel insurance plans according to your needs and budget.

  • No need for Insurance Agents: You no longer need to rely on an insurance agent to buy a travel insurance plan. You can find the best travel insurance online after comparing them online on Policybazaar.

  • Minimal Paperwork: When you buy travel insurance online, you avoid a lot of forms, formalities and extra paperwork. All you need to do is fill out an online form and pay for the travel insurance plan you prefer.

  • Instant Policy Purchase: The policy is issued almost instantly after comparison and payment. You can select the best travel insurance plan without leaving your home and buy it within a few minutes!

Basic Requirements to Buy Travel Insurance

All Indian citizens who wish to travel abroad for any purpose can buy travel insurance in India. Those residing in India as permanent residents can also buy insurance for foreign travel, depending on the purpose of their trip. However, some documents are necessary:

  1. Passport number of travellers
  2. ID proof like PAN or other government-issued documents for proposal form

KYC for travel insurance is required before purchase, so keep these documents in hand before you start filling out the form. You must also have your exact travel dates and destination for the proposal form.

Frequently Asked Questions (FAQs)

Why Do I Need Travel Insurance?
Travel insurance plans protect you from many financial burdens caused by various travel-related emergency issues.
What is a pre-existing condition for travel?

Pre-existing conditions are the ones that you have been diagnosed with or are getting treated for. This includes diabetes, high BP, thyroid etc. Most Indian travel insurance companies don’t cover pre-existing diseases. However, you can buy an add-on PED cover before travelling abroad.

Can I purchase travel insurance online for someone unrelated to me?

No. You can only purchase it for yourself and your parents, spouse, and children.

Can the insurer withdraw travel insurance at any point?

Yes. Travel insurance companies can withdraw insurance plans if approved by the IRDAI. The traveller will receive a notice about the withdrawal at least 3 months before the expiry of the policy. In case of withdrawal, the insured can continue with their ongoing policy until its expiry date.

Why should you buy travel insurance online?

Buying travel insurance online saves time and gets you the best travel insurance plan. You can take your time understanding and comparing the available travel insurance plans without paying extra commissions.

Will my policy offer trip cancellation insurance in case of hospitalisation?

Yes. However, most policies only approve a claim if you or an immediate family member were hospitalised.

I have both travel insurance and medicare, so which one will be applicable during my trip?

Your medicare is only applicable while you are if you’re travelling in India and face emergency treatment expenses. However, only your travel insurance policy will be valid if you are abroad.