Travelling is an exciting and enriching experience that allows us to explore new destinations and create lasting memories. However, unforeseen circumstances can disrupt even the best-planned trips. This is where insurance comes into play.
Travel insurance is a type of insurance designed to protect travellers from potential financial losses or medical emergencies that may occur during their trip. It provides coverage for various unforeseen events such as trip cancellations, delays. Also, medical expenses, emergency medical evacuations, lost baggage, and more. Travel insurance offers peace of mind by mitigating potential risks and providing financial protection when travelling domestically.
What is travel insurance?
Travel insurance is a contract between the insured traveller and the insurance provider. It offers financial protection and assistance in the event of unforeseen circumstances during a trip. By purchasing travel insurance, travellers can safeguard their investment and protect themselves against potential losses, medical emergencies, or other travel-related issues.
Types of travel insurance plans
In India, there is a wide range of travel insurance plans to choose from, tailored to diverse needs and preferences. Here's an overview of the types of travel insurance plans available in India:
Single trip insurance: Ideal for one-off vacations, it covers a single journey and offers comprehensive protection against unforeseen events. This type of insurance typically includes coverage for trip cancellations, medical emergencies, lost baggage, and travel delays, ensuring peace of mind for the duration of the trip.
Multi-trip insurance: Suited for frequent travellers, it provides coverage for multiple trips within a specified period. With multi-trip insurance, you can travel throughout the year without the need to purchase a new policy for each journey, making it convenient and cost-effective for regular travellers.
Solo trip cover: It provides coverage for a single person. Solo trip insurance includes benefits such as medical emergency coverage, trip interruption, and personal liability. Know more about Solo Traveller Cover offered through Bajaj Finance on Bajaj Finance Insurance Mall, which ensures solo travellers are protected throughout their journey.
Family travel insurance: Designed for families, it covers all family members, making it a cost-effective choice. Family travel insurance ensures that medical emergencies, trip cancellations, and lost baggage are covered for each member, providing peace of mind and financial protection during family vacations.
Senior citizen travel insurance: Tailored for older travellers, it addresses specific health concerns and travel needs of seniors. This insurance typically includes higher medical coverage limits, coverage for pre-existing conditions, and assistance services, ensuring that senior travellers can enjoy their trips with confidence and security.
Adventure travel insurance: For thrill-seekers, it covers adventurous activities such as trekking, skiing, and water sports. Bajaj Finance along with Bajaj Allianz General Insurance offers one such Adventure Cover for all your needs, providing protection against injuries, equipment loss, and trip cancellations related to adventure sports.
Business travel insurance: Catering to corporate travellers, it provides coverage for work-related trips. Business travel insurance includes benefits such as trip interruption, medical emergencies, and loss of company property, ensuring that professionals can focus on their work without worrying about travel-related issues.
Domestic travel insurance: Focused on travel within India, it safeguards against trip cancellations, medical emergencies, and other local travel risks. Domestic travel insurance ensures that travellers are protected against unexpected events during their journeys within the country, providing comprehensive coverage tailored to domestic travel needs.
International travel insurance: Focused on traveling outside India, it safeguards against trip cancellations, medical emergencies, and other travel risks. International travel insurance offers extensive coverage for unexpected events abroad, including medical evacuations, lost passports, and trip interruptions, ensuring a worry-free international travel experience.
Key benefits of buying travel insurance policy online
If you are planning a trip around India or abroad, consider buying travel insurance online. Here are some of the key benefits of buying travel insurance online.
- Convenience: Skip the queues and get covered from the comfort of your home.
- Tailored options: Personalise your coverage to suit your travel needs and budget.
- Instant access: No waiting around – get your policy instantly online after your payment.
- Quick and easy comparison: Easily compare policies and prices to find the best deal for you.
- Secure transactions: Trustworthy payment gateways ensure your transactions are safe and secure.
- 24x7 assistance: Whether it is lost luggage or a medical emergency, help is just a call away.
Features of a travel insurance policy
Category |
Specifications |
Trip cancellations or interruptions |
Covers unexpected disruptions due to unforeseen circumstances. These may include accidents, natural disasters, or family emergencies. |
Medical emergencies |
Travelling to unfamiliar destinations may expose individuals to new environments, climates, and health risks. Travel insurance covers medical expenses incurred due to illness or injuries during the trip. These include hospital stays, emergency medical treatments, and medical evacuations. |
Lost or delayed baggage |
Travel insurance covers lost, stolen, or damaged baggage. It provides reimbursement for essential items and assistance in locating or replacing lost belongings. You can also get baggage insurance for safety of your baggage. |
Travel delays |
Flight delays or cancellations can significantly disrupt travel plans and lead to additional expenses. Travel insurance compensates for expenses incurred due to such delays, including accommodation, meals, and transportation. |
Personal liability |
Travel insurance provides coverage against accidental injury or damage caused to others during the trip. It covers personal liability, protecting travellers from potential legal and financial consequences. |
Reasons to buy travel insurance
Here is why travel insurance is a must-have:
- Protection against mishaps: Safeguard your trip from unexpected cancellations, delays, or emergencies.
- Medical coverage: Ensure you are covered for medical expenses abroad, including hospital stays and emergencies.
- Lost or stolen belongings: Get reimbursed for lost luggage or stolen belongings during your travels.
- Peace of mind: Travel worry-free knowing you're financially protected against unforeseen events.
- Affordable options: Pocket-friendly plans tailored to your specific travel needs.
What are the eligibility criteria to get travel insurance online?
By meeting the following criteria, travellers can secure travel insurance online, ensuring protection during their trips. Travel insurance or trip holiday insurance, offer comprehensive coverage tailored to needs of modern travellers.
Criteria |
Description |
Age limit |
Most policies cover individuals aged 18 to 70. Some providers offer coverage for senior citizens as well. |
Travel duration |
The length of the trip should fall within the policy's specified coverage period. |
Nationality/residency |
The applicant must be a resident or citizen of the country from which the insurance is purchased. |
Purpose of travel |
Coverage is available for various purposes, including leisure, business, and adventure travel. |
Health requirements |
Applicants must meet health criteria specified by the insurer, with pre-existing conditions declared. |
Documentation |
Valid passport, travel itinerary, and proof of travel dates are required for policy issuance. |
Destination |
The travel destination must be listed as covered by the policy. |
Trip cost coverage |
The policy should match the total cost of the trip, including flights, accommodation, and activities. |
Purchase timing |
Policies must be purchased before the start of the journey, usually a few days to a week in advance. |
What is covered under a travel insurance plan?
The coverage offered by travel insurance online policies may vary. Here are some common aspects that travel insurance typically covers:
Trip cancellations and interruptions:
Reimbursement for non-refundable expenses due to trip cancellations or interruptions.
Medical expenses covered in travel insurance:
Coverage for medical treatments, hospital stays, prescription medications, and emergency medical evacuations.
Baggage loss or delay:
Compensation for lost, stolen, or delayed baggage, including reimbursement for essential items and assistance in locating or replacing lost belongings.
Travel delays:
Reimbursement for additional expenses incurred due to flight delays, such as accommodation, meals, and transportation.
Emergency assistance with travel insurance online:
24x7 emergency assistance services, including travel and medical assistance, help with legal issues, and coordination of emergency medical evacuations.
Personal liability:
Coverage for personal liability in case of accidental injury or damage caused to others.
Does travel insurance cover COVID-19?
With the ongoing impact of the COVID-19 pandemic, travellers are increasingly concerned about how their travel insurance policies address COVID-19-related issues. The coverage for COVID-19 under travel insurance online or trip holiday insurance varies significantly between insurance providers and policy types. Here is a detailed look at what to expect:
Medical coverage: Many travel insurance policies now include coverage for COVID-19-related medical expenses. This typically encompasses treatment costs, hospitalization, and medical evacuation if necessary. If a traveler contracts COVID-19 while abroad, their travel insurance will often cover the associated healthcare costs, ensuring they receive adequate medical care without facing exorbitant bills.
Trip cancellation and interruption: Travel insurance online often includes trip cancellation and interruption coverage. If a traveller needs to cancel their trip due to contracting COVID-19, or if their trip is interrupted because of a COVID-19 outbreak at their destination, the insurance may reimburse non-refundable expenses such as flights, accommodation, and pre-booked activities. However, it is essential to check the specific terms and conditions, as some policies may have exclusions or require COVID-19 to be specifically named as a covered reason.
Quarantine costs: Some travel insurance providers offer coverage for additional expenses incurred due to mandatory quarantine. This can include accommodation and meal costs if a traveller is required to quarantine at their destination or upon return.
Exclusions and limitations: Despite the comprehensive coverage offered by many policies, there are exclusions and limitations to be aware of. For instance, if a traveller knowingly travels to a region with a high COVID-19 risk against government advisories, their trip holiday insurance may not cover COVID-19-related claims. Additionally, some policies might exclude pandemics or epidemics, so it’s crucial to read the policy details carefully.
What is not covered under a travel insurance plan?
Travel insurance is an essential aspect of travel planning as it provides coverage against unforeseen circumstances. However, many people are not aware of the exclusions under a travel insurance plan. Here are a few pointers to keep in mind while purchasing travel insurance online:
- Pre-existing medical conditions: Most travel insurance policies do not cover pre-existing medical conditions, and policyholders need to disclose them while purchasing the policy.
- Loss of personal belongings: If you lose your belongings due to negligence or your fault, it will not be covered under the policy.
- Alcohol or drug-related incidents: Any incidents resulting from alcohol or drug consumption will not be covered by the policy.
- Non-approved destinations: If you travel to a destination that is not approved by the policy, any incidents will not be covered by the policy.
- Acts of terrorism or war: Most policies do not cover incidents resulting from acts of terrorism or war.
What is single trip travel insurance?
A single trip travel insurance provides coverage for a single trip or holiday. It includes benefits such as medical expenses, luggage loss, trip cancellation, and personal liability. This type of travel insurance is ideal for people who travel occasionally or take only one trip per year. It is easy to purchase and provides a comprehensive cover for the entire duration of the trip.
Policyholders can customise the policy as per their requirements, and single trip travel insurance is available for both domestic and international travel. It provides peace of mind and security while travelling, ensuring that any unexpected and unplanned events are covered.
How much does travel insurance cost?
The cost of travel insurance varies depending on several factors: the traveller's age, trip duration, destination, coverage limits, and the type of policy chosen. On average, travel insurance typically costs around 4-10% of the total trip cost. However, the cost of insurance is a small price to pay compared to the potential financial losses that could occur during a trip.
