Imagine finally visiting Hawaii for your long-awaited vacation. All this time, you have imagined yourself enjoying the exotic Mai Tai at the Waikiki beach on a breezy summer. The endless and majestic Pacific Ocean has calmed your mind, and you are reaching a blissful state. But suddenly, your stomach starts to hurt.
At this time, you do not have sufficient funds to get the best medical care in Hawaii. Now what? This is where overseas travel insurance comes to the rescue. It can provide coverage for a variety of such emergencies to let you keep enjoying your dream vacation in Hawaii.
Unfortunately, troubles and tragedies don’t come with a warning. Therefore, it is crucial to be prepared for the worst situation, especially when you have your foot in a foreign land. This article will talk about everything you need to know about overseas travel insurance so you can enjoy your good times and tan lines.
Key Takeaways
- Overseas travel insurance provides coverage for a range of exigencies—from losing your baggage to extreme medical conditions.
- With the right overseas insurance policy, you can get coverage for a lot of things—be it a lost passport or a hijacked flight.
- Self-inflicted injuries and damage due to consumption of alcohol or drugs are some of the exclusions under this policy.
- Compensation for delayed flights and safe road trip abroad are some of the cool benefits provided under overseas travel insurance.
What is Overseas Travel Insurance?
Traveling is not about escaping life; it is about making sure that life does not escape us. Traveling is fun and games. It is excitement and fulfillment. But what’s more important is that you stay safe and healthy during any of your world exploration journeys. Having overseas travel insurance will do exactly that.
With overseas travel insurance, you can get coverage for a range of exigencies—from losing your baggage to extreme medical conditions. Any extra costs incurred during your trip will be reimbursed if your insurance policy covers them. The benefits provided under overseas travel insurance may include trip delay or cancellation, cashless hospitalization, pre-existing diseases, etc.
Every overseas mediclaim policy offers different benefits. That is why it is important to buy the variant as per your budget and requirements. Many optional add-ons such as home burglary insurance are also available at an extra premium.
Hijacked Flight or Lost Passport – Inclusions of an Overseas Insurance Policy
With the right overseas insurance policy, you can get coverage for a lot of things—be it a lost passport or a hijacked flight. Different policies offered by different insurance companies provide different benefits. Therefore, it is essential to take a look at the inclusions of the policy before buying it.
Here are some of the major benefits offered by most travel insurance companies.
Medical Benefits
Hospitalization Coverage
Travel insurance abroad covers expenses related to hospitalization, including in-patient and out-patient care.
Daily Allowance
In case of hospitalization, a certain sum of money will be reimbursed on a daily basis. The amount may vary with the insurance provider.
Accidental Death/ Disability
Overseas travel insurance also provides compensation in case of accidental death or permanent disability of the insured during the trip.
Dental Expenses
Any dental-related injuries are also covered up to a specified amount under overseas travel insurance.
Family Option Discount
One can also get a discount on an additional person’s overseas travel insurance premium if more than one family member is covered in that policy.
Non-Medical Benefits
Trip Delays
No one likes to wait extra for a long-awaited trip. But in case your trip gets delayed due to some unforeseen reasons, your expenses will be covered up to a defined limit as per the overseas insurance policy.
Loss of Passport
Losing passport or travel documents can put you under stress. But overseas mediclaim policy can provide coverage up to a fixed amount to get a new or duplicate passport.
Hijack Distress Allowance
Hijacking is one of the worst situations one can get in while traveling. We hope that no one ever gets in such a situation. But if someone does, the overseas travel insurance can provide compensation for a specified period of time.
Return of Minor Child
Most overseas travel insurance policies cover expenses incurred during the return of a minor child to their home.
Missed Flight Connection
If you miss a pre-booked flight, you can get reimbursed for additional accommodation and travel expenses.
See What’s Not Covered
Traveling to new places refreshes both your mind and body. But it may bring with it uninvited difficulties. Having an overseas travel insurance policy is the best way to deal with them. We already had a look at the various inclusion under an overseas insurance policy. It is time we understand what is not covered.
Exclusions are the cases or situations for which the insurance company does not provide coverage. It is crucial to know what the policy will not cover. It will help you prevent hassles when filing a claim. Here are some of the things that are not covered under overseas travel insurance: –
- Any medical treatment can wait until the policyholder returns to their home country.
- Any pre-existing diseases, illnesses, or injuries.
- Any cosmetic or beauty treatments such as plastic surgery.
- Cancellation of the trip due to a natural calamity.
- Medical treatment or surgery using a robotic system. The surgery may be invasive or non-invasive.
- Expenses incurred for treatment of self-inflicted injury or suicide.
- Any liability arising out of a criminal activity or breach of law.
- Treatment expense incurred due to hazardous activities. It may include the consumption of alcohol and drugs.
- The liability arising out of wrongful detention, false arrest, wrongful eviction, defamation or mental trauma.
Why Do You Need an Overseas Travel Insurance Policy?
Vacation is like taking a sunburn at premium prices. And the last thing you want to deal with is unexpected expenses. The good news is that—overseas travel insurance can help you keep your extra expenses to a minimum. Apart from that, here are some of the key reasons why you need an overseas travel insurance policy: –
Coverage Against Financial Loss
No one likes to spend more money than they have to. During your trip, overseas travel insurance can provide coverage for unforeseen financial losses one may incur. It can help stick to the budget.
Covers Medical Bills
The medical expenses on foreign land are expensive. With an overseas insurance policy, there is no need to worry about your medical bill. All such expenses will be covered by the insurance company.
Flight Delay Coverage
Flight delays can be extremely annoying and can lead to monetary losses. With overseas travel insurance, you can get coverage for the losses incurred due to a delay in your flight.
Coverage Against Loss of Passport or Money
Lossing a passport or wallet can put travellers in a difficult situation. But if your trip is covered with overseas travel insurance, you need not take any stress. Your insurer will help arrange money and a passport for you.
Stress-Free Road Trips
Planning to take a road trip abroad on your trip? If so, an overseas travel insurance policy can come in handy. It will cover accidental injuries and the damages caused to the rented vehicle.
Did You Know?
Snake Bites are covered—A tourist who visited the Kruger National Park in South Africa got bitten by a cobra snake. They are the most venomous snake, FYI. It carries cytotoxic venom, which destroys blood cells and tissues. Surviving that is next to impossible.
The guy was covered with overseas travel insurance, and all his medical bills were taken care of by the insurance company. The good news is that he survived.
How to Buy Overseas Insurance Policy
We have discussed the importance of overseas travel insurance. But how do you buy one? Buying an overseas insurance policy is super easy. Just follow these steps: –
- Visit the official website of your preferred insurance company.
- Enter where you are going, when you are going, and when you will be back.
- Fill in the detail of all the travelers.
- Select the insurance plan that you like.
- After that, details such as passport number and contact details would be asked.
- Make the payment. You will receive an email with your overseas travel insurance policy.
Word to Remember
Cashless Hospitalization
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.
Conclusion
Not everyone who wanders gets lost. But those who travel without insurance may get lost. Travelling to a foreign land requires a lot of planning and budgeting. But there is always a possibility of mishap during a trip. That is why overseas travel insurance is a fundamental thing to consider while planning a trip abroad.
In this article, we have understood what overseas travel insurance is, why it is important, and how to buy one. At this point, you should be able to appreciate its benefits. Buy the policy that best suits your budget and requirements.
FAQs
You can buy the overseas travel insurance policy online at any time, even before booking your flight. However, it is recommended to buy it as soon as possible after booking flight tickets.
Yes, an overseas travel insurance plan can be purchased for both business and leisure trips.
Yes, you need to buy a separate travel insurance policy for your trip to Schengen countries. This is because you need a minimum cover of 30,000 EUR.
Overseas travel insurance is immediately processed online. One can receive their policy document within hours of submitting the insurance form.
You need to provide your policy information to cancel your overseas travel insurance policy. A letter stating the reason for cancellation and a photocopy of the passport are also required. Certain penalty amounts may be levied.
