Tuesday, 8 May 2018

The Coverage Offered by a Domestic Travel Insurance Plan

Travel insurance has been gaining popularity amongst the Indian masses in the last few years. This increase in the inclination to purchase travel insurance is due to the fact that travel insurance provides a safety net and financial security while you travel. You purchase an international or domestic travel insurance plan and can be assured that you can enjoy your journey while making the most of it. 

Today, a wide variety of domestic travel insurance plans are available in the market. Each product has been designed skillfully keeping in mind the needs and requirements of various kinds of travelers. You can now have your pick of the best domestic insurance plan that meets your set of requirement to the “T” and is easy on the pocket. 

While you are comparing and choosing the best domestic travel insurance plan, make sure that you consider the various benefits and cover that the insurance plan is offering. 

Various benefits or coverage offered by a domestic travel insurance plan
Although, each travel insurance plan brings something unique to the table, here are a few benefits or coverage offered by the popular domestic travel insurance plans:

1. Medical Expenses: 
A domestic travel insurance plan provides cover against any unexpected medical expenses incurred while traveling. These expenses include inpatient and outpatient care, hospitalization costs, diagnostic tests and doctor’s bills. In certain cases where there is an urgent need for medical evacuation, the insurance plan provides reimbursement to the expenses till a pre-decided limit. Some domestic travel insurance plans even provide for the transport of one immediate family member to the place where the insured is receiving medical care. 

2. Loss or theft of baggage:
Loss or theft of check-in baggage can cause a lot of stress, no matter at what phase of traveling it occurs. A good domestic travel insurance plan offers coverage for such contingencies where the checked baggage is lost or damaged due to the airline carrier. Also, in case there is a delay in the baggage or the baggage gets sent to an incorrect location, the insurance plan provides reimbursement for the reasonable expenses incurred in order to purchase toiletries, clothes, and medications. But such provisions have some crucial caveats associated with them, such as the delay must be of 6 hours or more, the baggage must have been misplaced by the airline and not due to the negligence of the insured etc. 

3. Personal Accident cover
Personal accident cover is another benefit offered by a domestic travel insurance plan. Under this cover, the insurance provider pays any damages payable by the insured to a third party due to the insured’s involuntary actions. A key point to note here is that if the damage was done knowingly or under the influence of alcohol, drugs or narcotics, it is considered grounds for rejection of the claim. 

4. Trip cancellation or curtailment
Most of us make all necessary booking online today before we start the trip to avoid any nasty surprises. This means making pre-paid and non-refundable bookings at times to save some money as well. But what if you have to cancel your trip or cut short a trip you are on. Domestic travel insurance plan provides trip cancellation or curtailment cover, which provides reimbursement for such contingencies provided the reason for cancellation or curtailment is in the inclusion list provided in the policy document. 

5. Emergency cash assistance
In case you lose your cash or it gets stolen while on your trip, it could leave you stranded in an unknown place. The emergency cash assistance cover of the domestic travel insurance plan provides emergency cash in such a situation. 

6. Flight delay or cancellation
A delayed or cancelled flight can have a domino effect on your meticulously planned trip. Also, in case of over-booking, the airlines refuse a customer from boarding. The flight delay and cancellation cover of your travel insurance plan will reimburse you the flight costs. Additionally, the insurance provider covers the expenses incurred as a result of you missing your flight due to a valid reason under the plan’s covered hazards, such as you being involved in an accident while traveling to the airport, although these provisions are subject to the policy terms. 

7. Death or disability cover
A good domestic travel insurance plan provides death or disability cover. Under this provision, the insured’s nominee can claim the pre-decided amount (also known as the death or disability benefit) in case of the insured’s death or permanent total disability. 

Factors to consider when choosing a domestic travel insurance plan
There are many factors that come into play while you are considering a domestic travel insurance plan such as:

1. Sum Assured:  
Make sure that you opt for a domestic travel insurance plan, which offers the maximum sum assured, especially if you do not have a great life insurance or health insurance cover. 

2. Duration of policy:
There could be an emergency resulting in you extending your trip, make sure that your travel insurance plan covers your entire duration of the trip and has a provision for extension. 

3. Exclusions:
The list of exclusion is as critical as the list of inclusion or benefits. It provides you with a better understanding that in which scenarios you would not be covered by your travel insurance plan. 

4. Customer Assistance:
Most of the insurance providers these days provide the insured with an emergency contact number for any assistance. Choose a domestic insurance plan where you are provided with quality round the clock assistance. 

5. Premium:
While premium is a vital factor to consider, your whole decision must not be based on just the premium. A travel insurance plan with high premium does not ensure its extensive coverage. Hence consider all the coverage a plan offers which is also in your budget and then arrive at a decision. 

There are innumerous factors associated with a domestic travel insurance plan. It is pertinent that you go through the coverage promised by a travel insurance plan with a fine tooth comb and understand the various terms and conditions of the product before purchasing the travel insurance. 

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