Before buying a travel insurance plan, you should be aware of the risk factors that are covered by the plan and the risk factors that are not covered by the plan. It is very much important to disclose the necessary information with the insurance company so that you will derive maximum benefits. Your Travel Insurance Claim will not be affected when you share the correct information.
Risk factors covered by the insurance plan
There are various kinds of travel insurance policies offered by different insurance companies. Most of the insurance companies cover the following risk factors:
• Flight delays – If there is flight delay for more than 24 hours, compensation will be paid by the insurance company.
• Flight cancellation/curtailment – The financial risk associated with the trip cancellation or curtailment will be borne by Student Travel Insurance Plans. There are various reasons to cancel the trip. You might want to cancel the trip due to sickness, accident, and other reasons. When you the interrupt the trip, you will incur additional expenses in returning home. If you or your companion will go through the unfortunate event, you might want to wind off the trip. If a close relative at home dies or becomes sick, you might want to cancel the trip. If the trip cancellation takes place, it should be supported by the cancellation claim from a qualified doctor.
• Loss/stolen baggage – if the baggage is lost permanently, the cost involved in purchasing new items will be paid by the insurance company. If there is delay in obtaining the checked-in baggage, the cost involved in buying the essential items is covered by the insurance plan.
• Personal liability – The damage of property, body injury and third party death will be covered by the insurance plan.
• Medical expenses – If the travel insurance includes the medical clause, the insurance plan will bear the hospitalization cost. The emergency treatment will be provided based on the insurance plan. Illness during travelling and accidents on roads will be covered by the travel insurance plan.
• Repatriation – If there is death of the policyholder, the cost involved in transporting the mortal remains will be covered by the insurance company.
• Rental car collision – If you are travelling in a rental car and met with an accident, the rental collision insurance rider will pay for the damage from the proceeds of the insurance policy.
• Hijack allowance – If your plane is hijacked, you will get daily allowance. The condition will be applied if the hijack takes place beyond a specific period of time.
Exclusions from the travel insurance policy
You should be aware of the exclusions of the travel insurance policy.
• Pre-existing medical conditions – Some travel insurance companies do not cover the pre-existing medical conditions. Hence, you should double-check your policy to manage minimum coverage with pre-existing health conditions.
• Under the influence of drugs – If you are found to be under the influence of drugs, the Travel Insurance Claim cannot be applied.
• Extreme sports – If you are participating in adventure sports such as sky-diving and bungee-jumping, the travel insurance will not be applied. You should ensure that those acts are covered by the insurance plan from the insurance company.
• Travel advisory – If you travel to locations against the travel advisory issued by the government, the insurance plan will be inapplicable.
How to claim the travel insurance plan?
• If you go through a situation that demands payment from the insurance company, you should inform the insurance company at the earliest.
• You should have access to domestic as well as international toll-free numbers of the insurance carrier.
• You should provide the documentary evidence to the insurance company. Some of the documents which can be submitted in this direction include the FIR, medical report, police reports and other expenses incurred by you.
• You should provide the doctor’s certificate if you fail to travel as per the plan.
• If you lose baggage or personal documents, you should file FIR. You should submit a copy of FIR and a photocopy of the passport to the insurance company along with the claims form.
• The loss of cash or traveler cheque should be reported along-with the FIR, photocopies and originals to the insurance company so that your claim will be entertained by the insurance company.
• Flight delays are very common with most airlines around the globe. Even though it is not a deliberate attempt by the carrier, you can cover the risk by filing the appropriate documents by citing the reasons thereof to the insurance company.
Conclusion
Student Travel Insurance Plans are designed to take care of the needs of students while travelling to new places. The inconveniences and financial emergencies are covered by the insurance plan so that you can make the most of your trip! You should be aware of the procedure to file the Travel Insurance Claim!
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