Monday, September 16, 2019

Important ThingsTo Know Before You Buy A Travel Insurance Policy

Unexpected incidents can ruin one’s holidays. Impediments such as baggage or passport loss, medical emergencies, flight cancellations and other mishaps can turn your trip into a mess and cause you severe financial loss and inconvenience in foreign lands. Availing a travel insurance policy to cover you against all such incidents can be a smart idea.

Before you buy a travel insurancepolicy, the following are the things that you must consider:

Travel insurance policy coverage

Most travel insurance policies cover you under the following circumstances:
       Personal liability charges
       Bounced hotel bookings
       Cancelled flight expenses
       Bodily injuries incurred during an accident
       Vehicular breakdowns
       Travel and accommodation issues
       Terrorism attacks
All the expenses and damages related with travelling in India as well as abroad are compensated with the help of such policy. Moreover, with easy to avail Travel Insurance Policies from companies like Bajaj Finserv, you get a coverage of up to Rs. 3 Lakh to secure your holidays at a nominal price.
  1. What are the types of travel insurance plans?
       Domestic travel insurance: If you are travelling within the Indian territory, avail the Domestic Holiday Cover under Pocket Insurance schemes offered by Bajaj Finserv to avail coverage for flight delays and other obstacles. This policy includes any financial loss incurred due topersonal liability, lost baggage, and travel delay during your tour.
       Student insurance for travel: This provides financial assistance to students going abroad to study at universities. Students applying for academic courses overseas can apply for it.
       Medical insurance:Physical injuries suffered during an accident in a foreign locale can prove highly expensive if you are without a medical travel insurance policy. In case you are travelling particularly for medical treatments outside, then it can also prove highly beneficial.
       Overseas insurance schemes: International travel insurance policies help to cover expenses incurred owing to passport loss, emergency hospitalisation and loss of documents such as passport.
       Schengen travel insurance plans: This proves mandatory if you are travelling to countries like Austria, Czech Republic, France, Germany, Poland, Finland, etc. for more than 90 days.
Eligibility criteria to buy a travel insurance policy
You need documents such as passport, income details, visa, and tax statements to apply for the best travel insurance policy available in the Indian market.

  1. For overseas insurance policies, only 2 adults (within 60 years) and 2 children (within 21 years) are covered.
  2. Student travel insurance plans are offered to those (within a specific age group) who shall pursue professional/academic courses abroad.
  3. Senior citizens up to 85 years of age can apply for these polices without going through any medical examinations.
  4. The Schengen insurance plans are applicable for only business/leisure travel purpose. It is eligible for babies who are older than 90 days and adults up to 70 years.
How do you buy travel insurance online?
The rapid digitisation in every industrial sector has made everything more accessible online. With the case of insurance plans, you can now purchase your preferred policies online.
NBFCs like Bajaj Finserv let you buy travel insurance policy in India online by filling in a form provided on their official website. You can even pay your premium amount over the web via several payment gateways.
How to mke a travel insurance claim?
       Complete your formalities as specified by the provider. Carry a soft and a hard copy of your insurance policy while travelling.
       Call a helpline number for notifying your losses.
       Passport copy having immigration stamps are a must-have.
Get a clear understanding of your travel requirements before you buy a travel insurance policy. Considering your travel destinations and length of vacation, choose a plan that best suits your requirements.

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