Investing in travel insurance is always a good decision to cover non-refundable travel expenses
In India, people planning to travel abroad are still not aware of the benefits of travel insurance. One might just think that the two biggest decisions one needs to make when booking a trip abroad is how you are going to get there and where are you going to stay. Another important question worth asking is whether or not you need to buy travel insurance.
No doubt, the number of people opting for travel insurance in the country has gone up in the last few years; there are still a lot of people who are hesitant in investing their money for travel insurance. In most cases, investing in travel insurance is always a good decision to cover non-refundable travel expenses.
Here’s a quick look at some of the popular benefits of comprehensive travel insurance.
1) Loss or delay of checked baggage
Do you ever think about the disappointment that you might have to face if you do not see your checked-in baggage at the airport baggage belt? Though all the airlines today are improvised themselves in keeping a track of your check-in baggage, there are always possibilities that you may lose your baggage or it gets misplaced while travelling.
To cover this loss, it is important to have adequate travel insurance. Travel insurance reimburses you for the baggage loss or damage, repair or replacement of lost or damaged item, or the actual cash value, whichever is less.
2) Trip cancellation
There are always chances that your well-planned trip may get cancelled due to family emergency, medical conditions or any other unavoidable situation. Under all such circumstances, your travel insurance works as savior as it covers the risk that you may face for cancelling your trip due to an emergency. The insurer covers all the losses incurred due to the cancellation of flights and hotel bookings.
3) Medical Emergencies
While travelling to a foreign land, it is always possible that you may face an adverse medical condition due to different climatic conditions or any other reason. During any such crises, you can avail the best possible medical facilities around only if you are well equipped with adequate travel insurance. Many of the travel insurance policies even provide assistance such as daily hospitalisation cash allowance and emergency evacuation.
4) Home burglary
While you are busy exploring the different wonders of the world, there are quite few possibilities that thieves break-in your house and such an incident can bring great mental stress and huge financial loss to you. To avoid such a situation, it is important to buy a travel insurance that covers your home against burglary and housebreaking. Under the feature, any loss to the property due to burglary or house breaking is covered by the policy.
5) Missed connections
While travelling from one city to another during your holiday, there are quite few chances that you may miss your connecting flight due to some reason. However, if you are covered under a travel insurance policy that pays for missed connections, the insurer will bear the incurred expenses.
The benefit also provides reimbursement for numerous pre-paid expenses and additional expenses – up to an extent – made by the traveller due to missed flight. The expenses include money spent on food, transportation, and accommodation. However, one must know that missed connections are only covered due to delay under specific situations stated under the policy’s terms and conditions.