Planning a trip means making long lists. The list may include—flight tickets, your passport, your favourite outfits, sunglasses, sunscreen, and a lot more. But there is one crucial aspect that people usually forget. Something that guarantees your safety during the best moments of your life: A travellers policy or a travel insurance policy.
Travellers policy is one of the most important things you need while travelling—yet it is often overlooked. It wouldn’t be wise to drive a car without car insurance or own a house without home insurance. Then why travel the world without a travel insurance policy.
Be it illness or injury, cancelled flights or lost luggage, a travellers policy has got you covered. In a nutshell, it is an all-purpose emergency coverage plan. It is the single most important aspect you must add to your travel checklist.
This article will talk about what you get with a travellers policy and how you can find a cheap travel insurance plan. Let us break down this
- A travellers policy is designed to make sure you do not lose a ton of money in case of an emergency during a trip.
- Having health insurance does not mean you don’t need travel insurance when going on a trip.
- A travellers policy can be bought online within minutes.
- You can switch to another insurance provider without losing previous benefits with the travel insurance portability feature.
Travel Insurance Policy – The Tool to Find Lost Luggage and Much More
A travellers policy is designed to make sure you do not lose a ton of money in case of an emergency during a trip. Health insurance programs usually do not cover you overseas and offer protection only up to a certain limit.
A travel insurance policy is a type of insurance that offers financial protection against uninvited eventualities while travelling. It provides coverage for vacations, business trips, and even educational trips.
The best and cheap travel insurance plans cover a range of emergencies in exchange for a premium. The benefits include financial compensation for loss of money or passport, medical evaluation, missed connections, etc. The policy also helps with medical evaluation and financial assistance in case of urgent emergencies. You can even buy travel insurance that covers COVID-19 with minimal paperwork.
From the start of your journey till the time you return home safely, a travellers policy will keep you out of harm’s way.
What Do You Get with a Travel Insurance Plan?
Getting free medical care during your trip to an inexpensive country is one of the many benefits you can enjoy under a travel insurance policy. Whether you get hospitalized in Thailand or get sick in some remote part of South-East Asia, a travellers policy will take care of it all.
Wherever or whenever you go on a holiday, a travellers policy will provide you with the following benefits and features: –
COVID -19 Cover
There is nothing better than getting coverage for the most feared disease in recent times—COVID-19. In case you get hit by COVID during your trip, a travellers policy can help you in many ways. You can get an automatic extension of your trip if there is a lockdown in your destination country. Medical expenses incurred due to accident or sickness will be provided if you or someone travelling with you is diagnosed with COVID-19.
Airlines often misplace baggage. So, it’s only natural to have a safeguard for your travel essentials. Baggage insurance is a part of the travellers policy. The financial compensation for the loss or delay of baggage is given to the policyholder.
What’s worse than falling sick or getting injured while travelling? Nothing, right? Not only will it ruin the enjoyment but also significantly add to your expenses. With the right travel insurance policy in place, you can get coverage for medical evacuation as well as repatriation.
A travellers policy can assist you with emergencies faced during your journey. Some of these include travel assistance, policy extension, and compensation for additional costs incurred due to delayed flights.
Travel Insurance Portability
This is a fairly new feature included in many travel insurance plans. With this feature, you can easily switch to another insurance provider without losing previous benefits. To avail of this benefit, you need to inform your insurer about the portability requirements. Keep in mind that the premium may vary as per the new insurer.
Where Do I Find Cheap Travel Insurance?
Buying a travel insurance policy is one of the most important aspects you must consider while planning your trip. We understand that you want a travellers policy to be as cheap as possible. But cheap travel insurance plans usually provide barebones coverage. It may not fully meet your needs, especially in an expensive foreign country.
There are many things one must take into account before buying a travellers policy. Here are some of those key factors: –
Travel insurance plans are not made alike. A cheap travel insurance policy will surely grab your eyeballs, but it is essential to go through the policy documents carefully. It will help you understand the coverage offered. Choose the plan that offers maximum coverage at a minimum price.
Are All Medical Emergencies Covered?
Is it a good idea to buy a car based just on its looks? While looks are important but it’s not everything. Similarly, make sure to look beyond the coverage offered. Does it cover all medical emergencies, including injuries, accidents, and death? It is wise to buy a travellers policy that compensates for the losses suffered due to any medical emergency situation.
Claim settlement of the insurance policy is perhaps the most vital aspect of all. The right travellers policy will deliver on your claims quickly and efficiently.
Imagine getting stuck in a foreign land due to the loss of your travel documents. Don’t you wish you had a friend there to guide you in this situation? When you avail of cheap travel insurance, see if it offers 24×7 claim support around the globe.
Travel Insurance Myths that Need to Be Busted Right Now
While on a trip, you can be prone to multiple risks. Buying a travellers policy is the best way to avoid financial calamities during your holiday or business trip. When it comes to travel insurance, there are a few myths flying around that may confuse you and deter you from making an informed decision.
To ensure a safe and uncomplicated journey, here are some of the most popular travel insurance myths debunked for you.
Travel insurance is not worth spending money
It is a naïve observation. Taking chances for unexpected eventualities can be consequential. A travellers policy that covers travel risks can give you peace of mind.
If I have health insurance, I don’t need to buy travel insurance
A point to not—A travellers policy covers a lot more than health insurance. Also, most health insurance policies do not pay for medical expenses incurred in a foreign country.
Claims for negligence can be made
A travellers policy does not cover everything, especially not your negligence. The claims made for careless acts such as leaving the luggage unattended are not entertained by the insurance company.
I can report mishaps when I get back to my home
Any mishaps during your trip must be reported to the local police within 24 hours. Also, inform the insurance company as soon as possible to be eligible for claims.
I need to buy separate plans for each family member
It is a common myth that there needs to be a separate travellers policy for each family member. But nothing could be farther from the truth. If you opt for family travel insurance, it will not only provide collective coverage but also save your money.
Did You Know?
Your travel insurance can cover you in case a monkey steals your luggage? Surprised yet? Apparently, a couple in Bali got reimbursed by their travel insurance company when a monkey snatched away from their luggage. But don’t get your hopes up first know if your travel insurance covers you against such situations
How to Get a Travel Insurance Plan?
We have discussed the importance of a travellers policy. But how do you buy one? It’s not that hard. All you have to do is follow these simple steps: –
- First, visit the website of your preferred travel insurance company.
- Enter where you are going, when you are going, and when you will be back.
- Fill in the details for all the travellers.
- Select the travellers policy that fits your budget and requirements.
- Then you will be asked for details such as passport number and contact information.
- Make the payment. After that, you will receive an email with your travel insurance policy.
Word to Remember
It is a service provided by insurance companies which allows you to avail of the medical treatments without having to pay the hospital bills. The expenses incurred are settled between the network hospital and the insurance company.
A travellers policy does not give you the freedom to behave like an idiot. But it does provide you with enough financial compensation for the unexpected inconveniences that may occur during your trip. There are a ton of insurance companies offering a travel insurance policy. And finding the best travellers policy can be a daunting task. So, spend a sufficient time amount of time researching and comparing different travel insurance plans.
We have discussed what a travellers policy is, what you get in it and how to get one. At this point, you should have enough knowledge to compare and pick the travel insurance policy that best suits your requirements.
The best time to buy a travellers policy is within 15 days of making the first deposit. However, most insurers allow buying the policy until the day before the start of your journey.
Yes, you can opt for business travel insurance when going on a business trip. It can help you provide protection against unforeseen emergencies.
No. You cannot buy a travellers policy on behalf of someone unrelated to you. You can only purchase the policy for your family members.
In certain cases, you are required to file an FIR within 24 hours of the occurrence of an accident. You need an FIR if you make claims for loss of passport, personal accident, financial emergency, and bail bond.
Some of the reasons are: –
Injury or illness of policyholder, immediate family, or business partner.
Occurrence of natural calamity at the destination country.
The bankruptcy of the travel agency.