Travel Insurance: Major Types & Coverages

5 mins read

In India, there are various types of travel insurance coverage, including domestic travel insurance, international travel insurance, medical travel insurance, and senior citizen travel insurance.

If you’re thinking about taking a domestic or international trip, getting travel insurance from a travel insurance company is a good idea. Whether you are travelling for business or for pleasure, buying travel insurance is the first step to ensuring that you are protected from a variety of dangers and monetary losses that could occur while you are away. There are several travel insurance options available for you to select from, depending on your unique needs.

The insurance product is known as “travel insurance” is a type of general insurance policy. It is helpful for protection against unanticipated damage while travelling and related expenses.

To learn more, keep reading:

  1. Domestic travel insurance policy

Customers who plan to travel within the boundaries of the nation should use this policy. A domestic travel insurance policy protects the policyholder from costs associated with dealing with a medical emergency, theft/loss of luggage and other valuables, flight delays/cancellations, permanent disability, and personal liability (which refers to third-party damages you cause while on the trip).

  1. International travel insurance

International Travel Insurance policy was created with the needs and preferences of international travellers in mind. An international travel insurance policy protects you (the policyholder) against risks such as airline hijacking, repatriation to India, etc., and the standard coverage provided by its domestic counterpart.

  1. Medical travel insurance

With the policy being expressly created to cover costs arising from medical crises and other healthcare-related concerns, the name is the marker here. However, each insurance company will have a different exact list of inclusions and exclusions.

  1. Group travel insurance

Consider a group of workers who go to another country to attend a business conference. For the simple reason that it could significantly increase rates, it would not be prudent for each member of the group to obtain his or her own travel insurance coverage in such a scenario.

Group travel insurance coverage is really helpful in this situation because you can save a lot of money on the premiums without sacrificing the safety net against any unforeseen and unfavourable developments that can occur during the course of the trip. *All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.

  1. Senior citizen travel insurance

In addition to the standard benefits of acquiring travel insurance, a policy aimed at senior persons (usually those between the ages of 61 and 70) provides extra protection against dental treatments and procedures as well as cashless hospitalisation.

  1. Single and multi-trip travel insurance

A single-trip travel insurance coverage remains in effect the entire time you are travelling, as the name implies. It provides coverage for both medical and non-medical costs (such as baggage loss, delays in flights, etc.).

Contrarily, a multi-trip travel insurance policy offers prolonged coverage (often lasting a year in most situations) so that frequent travellers don’t have to go through the entire insurance application procedure each time they plan a trip.

In conclusion, after considering what you could need the most while travelling, you should select a type that best suits your needs. Depending on the provisions of the coverage and exclusion, travel insurance policies will differ (what is not covered). They might also provide extra advantages. It also depends on who is providing the coverage (individuals, groups, students, senior citizens). Reading the policy, all terms and conditions, and disclosure statements are crucial. Before purchasing a policy, compare the various offerings from various suppliers. There are numerous websites where you can quickly and easily evaluate and compare travel insurance international before purchasing them.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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