Be it for work or for pleasure, travelling can at times get risky and it is always wise to be prepared for unforeseen events. Like any other insurance policy, Travel Insurance covers all the risks that are related to the subject insured. Hence a travel insurance policy covers your entire journey from commencement to the end of the journey. Any such policy is valid from the time the insured starts his/her journey to the time the journey is complete or the time the contract expires or whichever is earlier.
Some of the best policies in the market allow you to extend the policy in case the stay is extended and the reasons for extension are beyond one’s control. Most of the policies automatically extend the tenure for 7-10 days in the event when there is a delay due to some strike or any other happening that is not in direct control and no other travel arrangements can be made. However during your stay abroad on payment of additional premium the policy can be extended as per the terms and conditions of the insurer.
Travel Insurance covers almost everything that can cause damage or loss to you while you are travelling during that insured period. It can include the following:
• Accidental injuries
• Third party liability
• Loss of baggage
In case of lost baggage however the claim is a certain percentage of the valuation of the baggage and not the whole amount. Mostly it is half of the value and valuables. Perishables and consumables are not valued under this provision.
Though Travel insurance covers medical expenses that you may incur in case of any accident or illness, it does not cover medical expenses in case one has gone for medical treatment. Travel Insurance only covers expenses that occur due to any sudden unforeseen incident during travel. Any illness or disease contracted during the travel would be settled subject to the insured possessing the required documents.
A travel policy can be issued for a specific trip (single trip) or for multi trips (for frequent fliers) where by single payment of premium, an umbrella of coverage is provided for various trips taken, subject to the maximum days of stay as per the policy conditions of each insurer. Also the age band and age restrictions differ from company to company. Each insurance company has their own set of defined guidelines to cover senior citizens travel insurance.
Though there are numerous travel plans available at the click of the mouse, an individual has to exercise due care in selecting the correct plan based on the coverage provided rather than considering the premium factor alone.
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