Tata AIG Travel Insurance
You have left behind the office stress and are finally setting off on the perfect vacation. The weather is fine and your flight is on time. But then your baggage goes missing. Worse still, all your travelers’ cheques were in your suitcase.
That is certainly a nightmare. It is why a travel insurance policy is important. You could be on a domestic or an international holiday. A travel plan will ensure nothing spoils your perfect vacation. Traveling is a great experience! It’s the best way to make memories and cherish them forever. From domestic to international, traveling is as simple as pinpointing a place on the globe. And you just need to pack your bags with the basic essentials and run away to your dream vacation. However, the most important thing to carry in that bag is the travel insurance. No matter where and with whom you are traveling, insurance is a must to have. It gives you an upper hand at security and safety of you and your belongings.
Travel insurance differs according to various factors depending on the type of location, duration and a lot more. Let’s have a look at the major and most common travel insurances available in the insurance market for you.
Benefits Of Travel Insurance:
- Loss of passport, baggage, or documents:
This is probably the worst situation you can imagine while traveling. But if you have a travel insurance, you have help at hand. In case of a lost passport, your insurance will reimburse the cost of acquiring a duplicate or a new one. In case of missing belongings, you will be compensated for your loss up to an approved sum; while if your baggage gets delayed, you will be reimbursed for the personal effects that you might have to buy for the meanwhile. This can be a huge help as you wait for your baggage to turn up.
No one wants to fall ill while on vacation. But medical complications or a serious bodily injury could arise at any time. That is why travel insurance is important. It will ensure you get the necessary medical attention in case of an emergency be it to take you to a hospital or have a close family member flown to you if you are a student. This also includes dental treatment because it’s quite understood that when you’re in a new place, stopping yourself from going on the sweets can be a little difficult. Your travel insurance will take care of other related expenses as well. You may also avail cashless hospitalization with travel insurance.
3. Flight cancellation or delay:
This is a common glitch nowadays. It could be airline’s fault, a natural hazard, or a personal problem. In all the cases, you will be either reimbursed or refunded a certain amount as per the policy schedule. In case of illness at the eleventh hour or a sudden death in the family can affect your plans. Suppose you need to cancel your travel plans. What happens to the money you spent on the air ticket and hotel bookings? It does not get wasted. Your insurance will reimburse you the unused hotel cost and travel tickets. In case of a delayed flight, your travel policy will cover additional expenses. This may include an unplanned night stay at a hotel and food, among other things.
4. Emergency medical evacuation:
If a medical condition requires you to be transported from the scene of incidence to the nearest hospital, you don’t have to worry about the expenses. If you are already admitted to a hospital and need to be taken back to your country for further medical help or to be with your loved ones, your travel insurance will take care of that too.
5. Fraudulent charges:
Imagine losing your credit/debit card while you are on a vacation and you start getting texts that someone is using it. Scary, right? Not only are you losing your money but you are losing money in a place where you might not even find help easily. But with travel insurance, that would not be a problem. Your policy will refund you for the money lost through stolen payment cards for up to 12 hours prior to your first reporting of the incident.
6. Compensation for Delay:
Certain foreign tours, like an extensive Europe trip, may require passengers to hop connecting flights at short intervals. A delay in a single flight can jeopardize your entire schedule. A travel insurance plan is a great idea in such scenarios. It covers losses occurring due to unexpected delays in technical issues, bad weather or other factors. Besides, opting for a plan also ensures that you receive a certain amount per day as compensation for the delay caused due to your change of plans.
7. Arrangement In Case Of Trip Termination:
A medical crisis might lead to the termination of your trip midway. An insurance policy covering expenses for the unexpected return journey can prove to be handy at such times.
8. Luggage and Documentation:
Tourists also buy travel insurance to secure their baggage and important documents like a passport. Your baggage including the hand baggage is insured. The insurance company compensates you for the loss of checked-in baggage as well. Moreover, the policy also covers theft of baggage with a pre-decided amount.
9. Hospital and Hotel Accommodation:
A medical emergency may force you to extend your stay in a hotel or worse be admitted in a hospital. Travel insurance reimburses you for such an extended stay. An insurance company that has a tie-up with a wide network of hospitals in your destination country could support you with cashless hospitalization too.
Travel insurance plans are highly traveler-centrist and are designed to address convenience of senior citizens, students, and frequent travelers. One can opt for a suitable policy to derive maximum benefits from it.
Among other convenient features, travel plans offer coverage without a compulsory medical test (for travelers less than 85 years of age) and instant online policy issuance.
11. Home Safe Home:
Travel insurance also secures your home while you are on tour. Specific plans provide cover for burglary and fire. Your family members back home could opt for medical concierge, automotive assistance and lifestyle services in addition to other value-added services.
12. Round The Clock Assistance:
Leading travel companies provide round the clock assistance to travelers. They can connect with the company via a dedicated phone line or contact via email to clear their doubts. The claim settlement process is also fairly transparent and quick.
The above-mentioned benefits underline the importance of availing a comprehensive travel insurance policy. People may tend to get carried away into thinking that they can fall prey to a mishap but the law of averages definitely paints a different picture. It is advisable to avail a travel insurance policy to enjoy your trip in a stress-free manner.
Type of Travel Insurance in India
- Individual Travel Insurance Plan
- Family Travel Insurance Plan
- Student Suraksha – Student Overseas Travel
Individual Travel Insurance Plan:
As the name suggests, individual travel insurance is meant for individuals who wish to opt for single or multi-trips cover. This is apt for solo travelers and if you travel frequently for work purpose. Understanding the individual coverage will help you in finding out which travel insurance is best for your travel requirements.
Family Travel Insurance Plan:
Family travel insurance is designed to cover your spouse, kids, and parents while traveling abroad. This too can be opted for single or multi-trip purposes. If you wish to know which travel insurance is best in India, then pick a travel plan that can cover your entire family for the entire travel duration.
Student Suraksha Travel Plan:
For higher education if you wish to study at an overseas nation, you would require travel insurance for a prolonged period to cover costs related to medical emergencies, loss of documents, loss or delay of checked baggage and so on.
Travel insurance covers different features and it is up to you to choose and ensure you are adequately covered. The first and most common is Trip Cancellation/Interruption coverage. Most of these policies cover cancellations due to weather, sudden illness, death, and emergencies whilst at home or abroad.
Another common type of travel insurance is for medical emergencies. This type of coverage is particularly useful if you plan on traveling to underdeveloped countries, or for individuals with an ongoing illness that might require medical attention at some point during the trip. These policies will reimburse you for the cost of doctor visits, medication, and sometimes even medical evacuation out of the country. It’s best to check with your insurance provider regarding the details, as travel health coverage policies vary widely.
It is also possible to obtain travel insurance that will cover non-refundable tickets in the event that a trip has to be canceled for any number of reasons. Some coverage plans will sometimes cover missed connections as well, which can be a lifesaver in the event of a flight delay or over-crowded and/or confusing airport terminal.
For longer trips, or for frequent travelers, a comprehensive insurance package is probably the best value. These usually provide a wide variety of coverage, and some even allow you to choose what kinds of coverage to be included. Since it’s impossible to know what problems might arise during your trip, these policies cover all the bases so that you have protection against monetary loss in the event of nearly any emergency.