Travelling to new places has therapeutic effects on the mind and body. It offers a refreshing escape from the daily routines, eases stress, boosts creativity and promotes your overall well-being. However, travelling can bring about many unpredictable challenges, such as medical emergencies, flight delays and cancellations, and lost luggage. This is when having a travel insurance policy helps. This insurance product can guard you against many travel-related uncertainties, providing financial security and peace of mind during trips.
However, when buying international travel insurance for a business or leisure trip, it is wise not to choose one randomly. Take some time to check and compare some policies and choose one offering the type of coverage you need. Here, we will tell you about the 4 major things that a travel insurance policy must cover to keep you protected against unexpected challenges and financial setbacks.
4 major things that travel insurance should cover
The following are the 4 significant aspects that a travel insurance policy must cover for a safe and financially secure trip —
Medical emergencies: A medical emergency can happen at any time and take away a significant part of your trip budget. Therefore, choose a policy that covers emergency medical expenses, personal accidents, emergency dental expenses, and medical evacuation. Some insurance providers also offer hospital daily cash and other benefits to the insured during medical emergencies.
Flight cancellations and delays: Flight delays and cancellations can cause stress and financial worries. Hence, it is important to choose a travel insurance policy covering these uncertainties. If your flight gets delayed or cancelled, the insurance provider will reimburse the money you spend on the essentials.
Trip delay and cancellation: If you have to cancel or curtail your trip due to unforeseen circumstances, like a medical emergency or family issue, the insurance provider will refund the non-refundable amount of your pre-booked accommodation bills. Moreover, if you have pre-booked certain activities with your trip, the insurer will reimburse those as well, as per policy terms and conditions.
Loss of baggage: Loss or delay of checked-in baggage can cause several inconveniences. It can disrupt your travel plan and you will be forced to incur additional expenses on purchasing essentials. Therefore, when buying travel insurance, choose a policy that covers the loss or delay of checked-in baggage for better financial security. Travel insurance also covers the theft of baggage and its contents. Hence, in case your baggage gets stolen, the insurer will offer compensation for the same.
In addition to the above-mentioned inclusions, it is wise to choose a travel insurance policy that also covers loss of Passport, loss of international driving license, emergency hotel accommodation bills, personal liability or third-party damage in a foreign country, and other unforeseen events. Having a travel insurance policy with these important inclusions will help you embark on a trip without worrying about uncertainties.
What to do if you face a travel uncertainty?
If you are covered under international or student travel insurance and you face travel uncertainty, you must do the following —
Review your travel insurance policy: Review your travel insurance document to check policy coverage and inclusions. You must also check and understand the specific claim procedure for your situation.
Contact the insurance provider: Get in touch with your insurance provider without delay. They will guide you on what to do next to claim a reimbursement for the unexpected expenses incurred.
Collect bills and receipts: Make sure you collect all bills and receipts related to the expenses incurred. The insurer will want you to submit these to claim a reimbursement.
File your claim: Here’s how you can file a travel insurance claim —
Fill out the claim form with the required details. Make sure you enter the details correctly.
Submit the claim form along with supporting documents, such as bills and receipts of the expenses incurred due to the travel-related incident. Remember to keep photocopies of documents for your records.
In case there is a delay in claim settlement, follow up with the insurance provider. You can reach out to their claims department via phone or email and ask for an update.
Conclusion
Travel insurance is an important safety net that keeps you prepared for the unexpected. If you encounter a covered event while travelling, the insurer will come to your rescue. While international travel insurance is mandatory in some countries, others permit tourists and business travellers to enter without it. Whether mandatory or optional, it is wise to buy this insurance product for timely assistance during medical emergencies and travel disruptions.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.
