We think most people who at least travel internationally are quite aware of the benefits of buying a travel insurance plan. In fact people travelling to countries like United states and those part of the European union are quite acquainted with the fact that visa is only also issued to those if they have a have travel insurance policy in place. Emergencies like medical or theft of luggage or passport etc arising while travelling outside can sometimes become very painful. One should that their domestic health insurance plan becomes ineffective outside the border. On the other hand in case of theft of luggage and passport the situation can become more worrisome.
Though most travelers understand the benefits of having travel insurance plan but selecting the right one from the whole array of offerings from various insurers is a tough game to crack for a layman. Every plan has it own inclusions and exclusions and to judge them on the basis of cost benefit analysis associated with it is critical geek to comprehend.
So if you have plans to travel in 2018, check out common exclusions associated with any travel insurance plan for family or travel insurance plans for individual be it from any insurer based upon which one can judge a plan
Even though a lot of people are aware of all the above mentioned exclusions but there are always chances of one’s claim getting rejected by the insurer..People should remember that in case of incidental emergency during travel in domestic trips or outside Asia one should first report the same to the insurer and then try to keep every possible document & bills which ones’ feels is very important from the perspective of the incidental emergency so that can reduce the claim rejection rate.
You might see this as checkbox in most travel websites which says “ Do Want to Add Travel Insurance to it ? “ even when you are booking a flight to a domestic destination or buying a domestic travel package.Though this might just add an extra hundred rupee currency note to the overall cost but people tend to uncheck the option.Plus since there is no regulatory mandate for buying a travel insurance policy for domestic travel similar to international travel , people tend to ignore it.
What discussed above might be a common phenomenon for all those who are reading this article right now but if we say that extra hundred rupees is worth of an investment to make. A domestic travel insurance in fact entails all the benefits which you enjoy in an international travel insurance plan but with a less cost.It serves the same purpose which your international policy would service. It covers most forms of financial losses expected during the period of travel.
Let’s try demystifying the benefits associated with domestic travel insurance plan which can help one understand the value around investing just few hundred of bucks into a travel insurance plan while making your next domestic trip.
Medical emergency cost borne: Like any other international travel insurance plan, your domestic travel policy can also compensate for accidental medical cost which may arise during the period of travel. You might argue that you already have a medical plan in place but this extra help by your travel plan can save much to medical plan benefits which otherwise can be used for more critical cases.
Problems arising for lost or delayed baggage: This is something which a lot of Indians might find connection with.Theft during a journey of whatever nature is something common to a lot of Indians.Financial losses might look very meagre in this case but ask the person who has faced a situation like this. You domestic travel insurance plan can give a quite relief in this case by compensating for financial losses happening due to an event like this.
Cover for trip cancellation: You might not get compensated for the missed flight here but there are always chances of your planned family trip getting cancelled due to unforeseen reasons. A lot of people might connect to a similar event which happened two years ago when lot of families across India might had to cancelled their planned trip to Uttaranchal trip because of unseasonal floods. An effective domestic insurance can become a real boon in this case.
Cover for third party expense: Though this is something new as a feature for the travel insurance industry.but recently a lot of insurance companies have started offering third party cover in their domestic travel insurance plan.This cover is quite similar to a third party cover offer under a car insurance policy. A lot of travellers might connect to the benefits associated with having this particular cover in one’s domestic travel policy especially they are travelling with children.
Travel Insurance: Understanding Things Which Your Travel Plan Might Not Cover
Don’t take anything for granted whatever your insurance agent tells you , one should always make the diligent effort to understand what is written in the contract document entered between you and your insurer .A proper understanding of what is written in the insurance contract help you understand the rights and benefits which you enjoy. So it is very important to understand that reading terms and conditions of the policy document is an important job before deciding upon a particular insurer’s plan.
Over the year online travel insurance Plans have facilitated the process of buying travel insurance and now there are lot of ways through which you can compare travel plans from different insurers at one go and understand what is right or wrong for you. There are a lot of myths around what is covered and what is not under your travel plan, many things which we take as granted might even form part of the generic cover of your policy. Any policy which charges a higher premium doesn’t mean that everything is covered understand.
Here is a list of top five things which are not covered under your travel insurance plan:
One should be very proactive about the above mentioned things and always take a an analytics view of the exclusions and inclusions .Plus when you raise a claim under travel insurance plan you should be clear about and always should evolved in proactively supply the insurer which proper document to process your request
It’s not worth denying the fact the nothing can go wrong with you..Risk is associated with everything even if it is like staying back at home so why to deny the risk associated with travelling. While travelling in a foreign country the risk associated can increase drastically as you don’t know the people out there and have nobody to help in case of emergency. Another important thing to remember is that your domestic insurance is not going to work in a foreign country. In a state where you might require medical treatment or support the cost has to borne out of your own pocket because your domestic medical insurance plan will not come to your help and which is already mentioned in your policy document.
Most of the people have quite a lot of misconception of travel insurance. One of the most common is that the benefits associated with travel insurance start only after you start the journey. This is technically a big misconception. You should understand that travel insurance is meant to take care of any travel related emergency and compensate you with a claim if there is a financial loss. Even in case if you have to cancel your travel plans because of bad health conditions ,somebody closely connected to you getting hospitalized or even in case of situations like riot or any kind of social unrest or due to technical fault of your airline. In case of minor issues which may lead to your missing the flight because you reached late to the airport happening because of reasons which are not under your control. So it is not just that your travel insurance cover emergencies arising during the period of travel but also risk associated with pre-travel situations which can lead to cancellation of your travel plans. It is so advised to buy Individual travel insurance plan as soon as you paid money for your tickets.
Another important that should remember that if you have planned for some adventure sports as a part of your itinerary make sure that your travel insurance plan covers that. As there is an inherent risk associated with adventure sports mostly insurers avoid covering them. Even if your policy is covering them it has it own limitation. So if you have planned for an adventure sport you should preferably look at buying an add-on along with the basic policy. Though you might end up paying some extra but then you are fully insured.
Another quite unknown fact which policyholder generally doesn’t know is that your travel insurer also at times covers issues like theft which might happen in your house while you are out on travel. In fact most of the policies be it from any insurer they generally offer this type of cover. When you travel plan extends over a longer period of time this can be a good feature to look into as thefts and burglary are a common phenomenon now.
While deciding upon your travel policy you should always read through the terms and conditions of your policy in details and stay aware of what is covered and what is not .In some covers offered under a plan comes with their own limitation which should also be well thought off. Plus it is always advised that one should buy a travel plan by comparing it online and do an evaluation based upon every benefit the policy has offered. Online comparison of travel insurance can always help you to take an effective decision.
People generally ignore buying a travel insurance plan because of certain myths about them. Though the cost might be quite low compared with total expense that would be actually incurred during the overall travel process but because of the ignorance you might end up paying a huge for it. Some of the common myths are:
1) Nothing can happen to you, you might have 100 trips during your life and never faced with a problem but you can’t never ignore the fact the probability of happening something on 101th trip can be always high. An unforeseen event can at any point of time can ruin your travel plan and can lead you to fall in a situation which you have never handled. In case the emergency happens in a foreign land when you don’t have anybody known things can bring a lot of imbalance. A simple thing like theft of your passport can lead to lot of hassles. Getting it reissued through local embassy office can lead to huge expenditure which you never planned.
2) You are already covered in homeland so you don’t need an additional policy, this is just a common fallacy. Even if you a medical insurance in India the same is generally not valid in a foreign land unless otherwise stated in the contract. In certain geographies travel insurance is mandate which needs to be presented before the authorities before you enter those countries. Issues like flight delays, loss of baggage is a common phenomenon and at times the same can lead to unforeseen expenditure but if you have planned for your travel insurance well in advance the same can be claimed from the insurer.
3) Medical costs are cheaper in foreign countries, this is generally a false belief, it really cheaper for the local citizen out there but when you evaluate the same with respect to Indian rupee then it is very costly. You should you always keep in mind that your Indian medical policy holds invalid in a foreign land unless otherwise stated so in case of an medical emergency which might even admitting to hospital and long medication, your travel insurance plan can come to your relief.
4) Travel insurance is only necessary people who participate in adventure sports, surely if somebody’s itinerary includes participating in adventure sports that he/she is prone to higher amount of risk but that doesn't defy the point that you will never face an emergency. Even if somebody has plans to participate in an adventure sport activity during his/her travel he/she need to pre-inform the insurer about it and might have to take an additional add-cover specific to the event.
The above are common myths which people think are right and give of this ignore they generally abstain from buying a travel plan but that is not case. Emergencies you can’t predict so it is better to plan in advance so that you don’t end losing money which you never planned.
The cost that you pay towards a travel insurance premium might seem very negligible compared to the whole price that you pay towards other things like commuting, lodging and fooding but the importance it has is very critical. Though people in most cases ignore the importance of the same but when faced with a critical emergency in a foreign land then the real value of having a travel insurance is well understood. People generally miss out the importance because they don’t understand its real capability, a travel insurance plan technically covers fifteen types of financial risks, with each risk having its own terms and conditions.
When you try doing an online search for travel insurance you will generally find a whole array of benefits based upon which plans from various insurers can be compared.The benefits may vary significantly from one insurer to another. Because of this diversity of benefits offered under different plans we always miss out some key things. Some of the key things which policyholders miss and should always keep in mind are :
The above points mentioned should be always considered while doing a compare online travel insurance plans from various insurer otherwise you might always miss out to take the real benefits attached with your travel insurance policy.