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Insurance Article

Things You Didn't Know About Travel Insurance

September 29 2016
Travel Insurance

Have you considered these before you finalise your trip?

Travel insurance is often ignored due to either less frequency of travelling, employer providing an insurance cover, or simply because we find it too complex to understand.

In reality, a travel insurance is simple and covers you financially in case things go wrong while travelling abroad. Your travel insurance is your point of rescue.

If you are confused about the coverages to opt for in your travel insurance, here are a few, demystified:

Pre-existing Disease Coverage

Usually insurers exclude coverage for treatment of pre-existing diseases, however, a few of them have begun to provide coverage in case of a life threatening condition. Thus, whenever you buy a travel insurance, it is recommended to declare your pre-existing condition in advance.

Insurers will carry out a detailed assessment at the time of claim. If your medical condition for which the claim was made was a result of a pre-existing condition, your claim would be rejected. At the time of assessment you are also obliged to cooperate with the insurer and provide supporting documents.

Limitations under Hospitalisation Cover

While the sum assured may look appropriate at the time of buying a policy, it may be inadequate in time of need and not consider medical inflation. Your policy may even have further limitations like exclusion of certain indoor expenses that need to be carefully looked at before buying a policy.

Baggage Loss

While most of us with travel insurance are confident about our baggage and rely on our insurer, but the baggage loss policy do have some exclusions such as:

  • Only checked-in baggage is insured
  • No compensation will be given for cabin baggage loss.
  • Baggage loss will be covered only on your flight from India to your destination and not on the return flight.
  • A delay of more than 12 hours is only considered for coverage. Besides you may be asked to prevent bills of several items lost in your baggage.

Third Party Liability Cover for Vehicle

The Indian driving license is valid in many countries and you can easily take a road trip. But before you plan to hire a vehicle, you must know that your travel insurance cover general public liabilities and not the liabilities that arise from the vehicle you hire.

If you plan a road trip, it's always better to opt for a short term car insurance that covers third party liability. Else, it's always better to use public transport on a foreign land.

These tips and tricks will clear your doubts regarding travel insurance. Now you have a better understanding of things you need to look out for while buying a travel insurance. You will be able to make an informed decision next time.

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