Travel Insurance has become an indispensable part of a trip especially when you are traveling abroad. Travel insurance also known as overseas medical insurance or visitor insurance covers all the medical expenses and other expenses incurred in case of trip cancellation, trip delay, loss of passport, personal theft, dental expenses, baggage loss or personal accident. There are several other risks that might spring on you when your are traveling overseas. Whether you are on a long vacation or a business trip, travel insurance must be considered.
Why Do We Need Travel Insurance
Anything can happen in case of an emergency and especially medical expenses in abroad can cost you an arm and a leg. It will not just overshoot your travel budget but also can put you in debt. God forbid anything can happen to you if you are on a trip whether in mountains or a trekking trip or a bad accident in the US. Therr have been heavy snow storms across Europe and US, flooding in Brazil and Australia, political outrage and riots across the world. Many passengers were left stranded. Thus, it is extremely unsafe and risky to be in a foreign land without travel insurance. It is the best to make your trip a worry free experience.
There are several types of insurance like flight insurance in case your plan crashed or any other mishap, health care insurance along with medical evacuation and repatriation insurance, baggage insurance which provides coverage for damaged, delayed, lost and stolen bags. Some other coverages provided by travel insurance are credit card coverage, adventure sports travel and golf travel insurance. Many insurance companies also offer services like interruption and cancellation insurance in case you have to get back home if there is an emergency.
There are several insurance plans offered by Indian companies for global travel. Some of the travel insurance providers with Indian Overseas plans are:
Travel Insurance India
- Bajaj Allianz overseas travel insurance
- ICICI Lombard overseas travel insurance
- TATA AIG overseas travel insurance
- Oriental overseas travel insurance
- Reliance overseas travel insurance
- Future Generali overseas travel insurance
- Chola overseas travel insurance
- Apollo Munich overseas travel insurance
Travel Insurance comparison:
Since many companies now offer travel insurance scheme it is necessary to compare the policies and features of all the insurance companies around. One can save around 25 percent on insurance premium by comparing the various plans.
You might be in a fix whether to buy or not to buy. Make sure you compare the cost of the insurance policy as well as the cost of the trip. Be sure that is worth paying.
Many credit card companies and bank also provide free insurance when you pay for your bus, air or plane ticket from your credit card. In case the airline does not operate then you will be already covered by your credit card company according to the federal credit laws. This may not cover all the other aspects but you can always look for additional cover at various rates. Various travel agents also offers insurance plans with premiums according to the age, destination and duration of travel.
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