What is the Risk of Going for a Tour without Travel Insurance?

Why You Should Never Travel Without Travel Insurance

Nobody wants to get stuck in a complication abroad, that too all alone. For this very reason, having travel insurance is the only way to safeguard yourself against risky situations.

The sole purpose of the existence of travel insurance plan is to safeguard our well-being and finances.

Traveling gives you perspective; it exposes you to new cultures and new experiences. When you travel, make a foolproof plan to take care of all your travelling needs.

Having a travel insurance plan makes sure that you have a regret-free traveling experience. Don't wait for something wrong to happen. All it takes is a small incident, during your most-awaited trip, to throw off your finances.

A good overseas travel insurance plan helps you to be proactive and handle whatever the ugly side of travel throws up to you. Loss of luggage, flight delay, flight cancellation, medical emergencies are a few of the most-common incidents, that people face abroad.

Different people have different travel insurance needs, so there are different travel insurance plans. You can pick a travel insurance plan on the basis of the frequency of your travel. If you travel once a year, a single trip travel plan is ideal for you. If you take more than three trips in a year, buy multi-trip travel insurance plan and you're good to go.

Travel insurance plans take care of your various travel needs. Most travel insurance providers offer coverage for adventure sports, business travel complications such as loss of staff, sponsor protection for students, senior citizen assistance, and even pre-existing disease-related complications.

Coverage Under Overseas Travel Insurance Plan

Generally, most of the travel insurance plans offer the following coverage.

• Emergency medical expenses that can run into thousands of dollars
• Medical evacuation in case of injury in a remote area where medical help is not readily available
• Trip cancellation due to medical emergencies, death in the family or unavoidable reasons
• Delayed or lost baggage due to airline negligence
• Loss or theft of a passport
• Missed flight connection
• Loss or theft of documents
• Accidental injury or death
• Trip cancellation due to sudden weather conditions
• Repatriation of mortal remains back to India

Travel Insurance for Entry Requirements

When you globetrot, you are exposed to various risks. We all love the fun side of the travel and don't want to experience the rough side of it. The thing is, we don't get to decide which side we experience, and when you may be exposed to the ugly side.

Many countries have made travel health insurance mandatory for entry. They realise the downsides of tourism, including the possibility that foreign nationals may face unexpected emergencies and end up owing debts in that country. Several international destinations require valid travel insurance before you can cross their borders, while several countries don't mandate it but strongly advise visitors to buy travel insurance.

Some countries that have made travel insurance mandatory for entry include France, Turkey, Cuba, Saudi Arabia and other Schengen countries. Be it luggage loss, a missed, delayed, or cancelled flight, loss of a passport, an accident, sudden sickness, theft, or a natural catastrophe, your travel insurance plan shields your safety and security.

How to Buy Travel Insurance?

You can easily compare multiple options and buy a travel insurance plan online. There are offline modes of buying travel insurance, and if it suits your comfort better, you can visit an insurer of your choice to buy a plan. However, you should still do a quick comparison on Policybazaar.com to understand your available options in the market and find the best provider for you.

Things to Keep in Mind Before You Buy Trip Insurance

It is highly recommended to go through the fine print of your policy wording so that you don't make any wrong assuptions related to what's covered or not covered. Here are the most common but serious sections to watch out for:

1. Adventure Sports Coverage

   Standard plans exclude coverage for any adventure sports such as skiing, bungee jumping, scuba diving etc. The moment you participate in adventure sports, any injuries caused will not be covered by your plans. Insurers consider these holiday activities as ‘extreme sports' and a risk. If you plan for an adrenaline rush by skydiving or scuba diving, you must buy an adventure sports add-on.

2. Understand the Deductible

   Instead of blindly selecting a plan which has the lowest travel insurance premium, check the Deductible or excess. A deductible is the out-of-pocket amount you need to pay first before your insurance company covers the rest of the bill. Whenever possible, go for for a USD 0 or low-deductible plan.

3. Check Pre-Existing Disease (PED) Covers

   PED is never covered by travel insurance unless it's life threatening or you buy a PED add-on for that condition. If you or anyone travelling with you have health conditions like diabetes or high blood pressure, select an insurer that offers dedicated PED coverage for sudden, acute complications abroad.

In A Nutshell

An insurance plan gives you the peace of mind you need and a risk-free vacation. In developed countries, medical costs are very expensive. Skipping travel insurance to save a few hundred or a thousand rupees. What's more, a policy for a week-long vacation often costs less than a single dinner abroad. So, don't buy the first plan you come across. When it comes to buying travel insurance, comparison is the key. Have fun and travel safely!