We all look forward to the exhilarating process of planning a vacation. No matter what the duration, we often overlook the small yet essential details such as Travel Insurance. Most people assume that if they have health insurance cover, there is no need to purchase additional Overseas Travel Insurance Cover while making a trip abroad. This is a complete myth for two reasons:
1. Travel Insurance Cover includes more than just health emergencies.
2. Not all health insurance covers extend to stays and incidents that happen outside the country.
Keeping in mind that you are essentially on foreign land, it is smart to invest in an Overseas Travel Insurance Cover so that you can enjoy a stress-free vacation.
What is an Overseas Travel Insurance Cover?
Overseas Travel Insurance Cover can be defined as a short-term insurance cover designed specifically for travel-related emergencies and any unforeseen expenses. Contrary to popular belief, that travel insurance is just another health insurance cover for when you travel, the travel insurance provides coverage for various other aspects such as lost baggage, cancellation of flights, loss of an expensive item, medical evacuation etc. subject to the policy terms.
Inclusions:
Following are the common inclusions in travel insurance covers but may vary from policy to policy.
1. In-patient and outpatient care
2. Cashless medical expenses
3. Emergency medical transportation
4. Accidental death and disability
5. Loss of baggage, delayed trip, trip cancellation
6. Loss of passport
7. Expenses incurred due to change in flights as a result of overbooking
Exclusions:
Some common points of exclusion we see among various policies are:
1. Coverage for pre-existing medical conditions, unless otherwise mentioned in the policy document.
2. Less than 24 hours of delay in baggage.
3. Losses and/or flights missed in case of protest/wars.
4. Injuries caused by adventure sports.
7 Lesser Known Travel Insurance Facts
Here we bring you 7 facts about overseas travel insurance cover that your travel agent or insurance advisor might not share with you. Keep these I mind while purchasing the insurance cover to ensure maximum protection.
1. If you lose it, you need to prove it
While we have established that some articles can be covered under an overseas travel insurance plan, it is pertinent to note that you might need to prove the loss to your insurer. This could be through theft report filled to the local authorities such as an FIR. It is also important to note that the loss of the item must not have occurred due to unattended baggage, as most of the insurance providers consider this as grounds for rejection of a claim.
2. Time period to make claim
Each insurance provider stipulates a time period under which the necessary claims must be filled. This is important to consider in case of long-term travel. For example, your policy states that the claim must be made within 30 days of the incident. You are traveling for approximately 2 months and lose your baggage upon arrival in the foreign country. In this case, you cannot wait till you return home to make the claim; hence it is vital that you choose a travel insurance cover according to your travel plans.
3. Alcohol and drugs can make the insurance void
Alcohol and drugs result in poor mental faculties and insurance providers take this seriously. Most of the insurers specify in their terms and conditions that at the time of the incident, the insured must not be under the influence of alcohol and drugs.
4. The sooner you buy travel insurance, the better
It is advised that travel insurance must be purchased as close to your first booking towards the travel plan as possible. This could be your booking of stay or your flight booking etc. This ensures that these bookings and the subsequent arrangements you make are covered under the travel insurance, subject to its terms. In case of your flight is canceled well before time and you had not purchased the travel insurance yet, you would have to bear the difference in flight fare. Whereas this expense could have been avoided if you had purchased the travel insurance close to or before booking the flight.
5. Limits on claim for expensive items
While your insurance plan might include claims on the theft/loss of expensive items, it is essential to note that most insurance providers put a sub-limit on claims in these cases. Such as if you lost camera worth Rs. 20,000 and phone worth Rs. 30,000 on your trip, but the sub-limits on electronics under the cover purchased by you were Rs. 20,000. Hence the insurer would only be liable to pay Rs. 20,000 and not the total cost of the items lost.
6. Medical Evacuation
Certain medical emergencies demand immediate medical evacuations and certain medical transports can be highly expensive. It is advised to ensure that your travel insurance covers medical evacuation or expenses in case medical evacuation is not possible, in order to stay secure in case of severe medical emergencies. Some insurance providers also include priority evacuations in case of natural calamities such as earthquakes, tsunami etc. in their policy.
7. Travel insurance provided with credit card
Many credit card providers go beyond the lounge access to airports when you travel. They sometimes also include overseas travel insurance cover along with the various privileges associated with the credit card. Therefore, you might be buying the travel insurance as per your travel agent’s suggestion or after reading a travel blog, but before making that purchase check the list of perks that you received with your credit card, you never know which other great deal you may find.
Conclusion
Not all overseas travel insurance cover plans are equal and not all travel plans are same. Hence, there is no plan that serves all when it comes to travel insurance but it is critical to purchase travel insurance especially if you are looking for a stress-free experience. As with all other kinds of insurance, identify your needs and requirements from the insurance cover and choose the product that suits all your needs well.
For more updates and News follow Policybazaar Youtube Channel
1. Travel Insurance Cover includes more than just health emergencies.
2. Not all health insurance covers extend to stays and incidents that happen outside the country.
Keeping in mind that you are essentially on foreign land, it is smart to invest in an Overseas Travel Insurance Cover so that you can enjoy a stress-free vacation.
What is an Overseas Travel Insurance Cover?
Overseas Travel Insurance Cover can be defined as a short-term insurance cover designed specifically for travel-related emergencies and any unforeseen expenses. Contrary to popular belief, that travel insurance is just another health insurance cover for when you travel, the travel insurance provides coverage for various other aspects such as lost baggage, cancellation of flights, loss of an expensive item, medical evacuation etc. subject to the policy terms.
Inclusions:
Following are the common inclusions in travel insurance covers but may vary from policy to policy.
1. In-patient and outpatient care
2. Cashless medical expenses
3. Emergency medical transportation
4. Accidental death and disability
5. Loss of baggage, delayed trip, trip cancellation
6. Loss of passport
7. Expenses incurred due to change in flights as a result of overbooking
Exclusions:
Some common points of exclusion we see among various policies are:
1. Coverage for pre-existing medical conditions, unless otherwise mentioned in the policy document.
2. Less than 24 hours of delay in baggage.
3. Losses and/or flights missed in case of protest/wars.
4. Injuries caused by adventure sports.
7 Lesser Known Travel Insurance Facts
Here we bring you 7 facts about overseas travel insurance cover that your travel agent or insurance advisor might not share with you. Keep these I mind while purchasing the insurance cover to ensure maximum protection.
1. If you lose it, you need to prove it
While we have established that some articles can be covered under an overseas travel insurance plan, it is pertinent to note that you might need to prove the loss to your insurer. This could be through theft report filled to the local authorities such as an FIR. It is also important to note that the loss of the item must not have occurred due to unattended baggage, as most of the insurance providers consider this as grounds for rejection of a claim.
2. Time period to make claim
Each insurance provider stipulates a time period under which the necessary claims must be filled. This is important to consider in case of long-term travel. For example, your policy states that the claim must be made within 30 days of the incident. You are traveling for approximately 2 months and lose your baggage upon arrival in the foreign country. In this case, you cannot wait till you return home to make the claim; hence it is vital that you choose a travel insurance cover according to your travel plans.
3. Alcohol and drugs can make the insurance void
Alcohol and drugs result in poor mental faculties and insurance providers take this seriously. Most of the insurers specify in their terms and conditions that at the time of the incident, the insured must not be under the influence of alcohol and drugs.
4. The sooner you buy travel insurance, the better
It is advised that travel insurance must be purchased as close to your first booking towards the travel plan as possible. This could be your booking of stay or your flight booking etc. This ensures that these bookings and the subsequent arrangements you make are covered under the travel insurance, subject to its terms. In case of your flight is canceled well before time and you had not purchased the travel insurance yet, you would have to bear the difference in flight fare. Whereas this expense could have been avoided if you had purchased the travel insurance close to or before booking the flight.
5. Limits on claim for expensive items
While your insurance plan might include claims on the theft/loss of expensive items, it is essential to note that most insurance providers put a sub-limit on claims in these cases. Such as if you lost camera worth Rs. 20,000 and phone worth Rs. 30,000 on your trip, but the sub-limits on electronics under the cover purchased by you were Rs. 20,000. Hence the insurer would only be liable to pay Rs. 20,000 and not the total cost of the items lost.
6. Medical Evacuation
Certain medical emergencies demand immediate medical evacuations and certain medical transports can be highly expensive. It is advised to ensure that your travel insurance covers medical evacuation or expenses in case medical evacuation is not possible, in order to stay secure in case of severe medical emergencies. Some insurance providers also include priority evacuations in case of natural calamities such as earthquakes, tsunami etc. in their policy.
7. Travel insurance provided with credit card
Many credit card providers go beyond the lounge access to airports when you travel. They sometimes also include overseas travel insurance cover along with the various privileges associated with the credit card. Therefore, you might be buying the travel insurance as per your travel agent’s suggestion or after reading a travel blog, but before making that purchase check the list of perks that you received with your credit card, you never know which other great deal you may find.
Conclusion
Not all overseas travel insurance cover plans are equal and not all travel plans are same. Hence, there is no plan that serves all when it comes to travel insurance but it is critical to purchase travel insurance especially if you are looking for a stress-free experience. As with all other kinds of insurance, identify your needs and requirements from the insurance cover and choose the product that suits all your needs well.
For more updates and News follow Policybazaar Youtube Channel
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