4 Major Things Which Should Be Covered In Your Travel Insurance Policy

Have you seen pictures of the Aurora Borealis – the Northern Lights? It is truly a wonder to behold even through the window of your computer screen. Now imagine if you were to witness it first hand – what a truly scintillating experience that could be!

This is the power of travel. It is intrinsically rewarding and can move you beyond words. It can give you experiences that are beyond description and can make your life more meaningful! You need to go to new places, meet interesting people and explore diverse cultures to grow and evolve. During such a pursuit, you will be confronted by risks and eventualities that may impede your travel plans – like an untoward accident, loss of baggage or unexpected flight delays. During such a scenario, travel insurance can come to your rescue!

What does a travel insurance cover?

Travel insurance policies provide coverage against risks such as flight delays/cancellation, loss/delay of baggage, loss of travel documents, medical expenses incurred due to accidents or treatment of sickness and moral repatriation. Upon payment of premium, you will be covered for the duration of the travel if it falls under the terms and conditions mentioned on the policy document.

Parameters to consider before buying travel insurance
• Travel Destination: The sum insured of your travel insurance is largely decided by the destination you are travelling to. Since medical coverage is a large aspect, countries such as USA, Australia and UK that are marked by high cost of healthcare will require higher sum insured as compared to countries like Sri Lanka, Vietnam and Thailand. Higher sum insurance translates to higher premium. Also, if your destination is prone to natural disasters or other socio-political volatilities, you will incur a higher premium.
• Duration of your trip: The duration of your trip is also a key parameter that decides premium. The longer your stay is, higher will be the premium. If you are a frequent flyer, you should seriously consider annual multi-trip plans that will cost significantly lesser as compared to buying single trip insurance for each trip and provide coverage through the year.
• Activities and engagements during trip: If you are going to engage in adventure sports such as skiing, sky diving and scuba diving that significantly increase your chances of needing healthcare, you may want to consider buying special add-ons for these activities since they are not covered typically.
• Comparison between plans: No one plan can suit everyone’s travel needs. Please make sure you are fully aware of what your travel plan entails and compare the various plans available at HDFC ERGO to make the best choice.