If you have been traveling for years, you might have heard about travel insurance in your lifetime. As the Covid-19 pandemic started, more and more people are showing interest in this topic. Well, there are so many benefits of travel insurance. However, not a lot of people are aware of this.
You see, travel insurance is not as available as life or health insurance. If you are confused about this topic, we can help you out. In this blog, we will learn about the basics of travel insurance and the top benefits. So, let’s get started.
What is Travel Insurance?
In simple words, travel insurance is a type of insurance that can cover the costs associated with your traveling. It’s not a new concept. However, you can get several benefits of having travel insurance. The best thing is a policy can cover both abroad and domestic travel.
You can get more benefits when you are visiting India for the first time. Hence, it’s also applicable to domestic travelers. There are many financial companies and banks that provide travel insurance in India including:
- TATA AIG
- SBI General Insurance
- HDFC Ergo
- ICICI Lombard
- Bharti AXA
- Apollo Munich
Besides these companies, you can also choose some companies for international coverage such as Allianz Travel Insurance, World Nomads, Travelex, and InsureMyTrip. You can choose a policy as per requirements. In the next section, we will share the top benefits of travel insurance.
Top Benefits of Travel Insurance
As we noted before, there are so many benefits of travel insurance. If you are ready to purchase a policy, you have to be clear of the benefits. In the following list, we have handpicked the top advantages of a travel policy. So, let’s find out:
1. Trip Cancellation Coverage
Trip cancellation is unexpected. The worst thing is you have to pay liabilities after the cancellation. In this case, travel insurance can be a boon for you. However, not all companies provide trip cancellation coverage. So, you have to read all the terms before purchasing.
2. Personal Accident
One of the top benefits of travel insurance is personal accident coverage. This type of thing can happen to anyone. No matter if you are solo traveling or taking your family on a vacation, a policy will be very helpful to cover all the accident costs. It’s difficult to handle the situation, especially when you are visiting a foreign country. So, your insurance can give you financial support.
3. Baggage Coverage
Baggage loss is a common thing for travelers. However, it can be a huge loss for some people. When you purchase a travel policy, it will be their concern to handle the situation. Hence, they are always ready to help the customers.
4. Medical Coverage
Another top benefit to purchasing travel insurance is you will get medical coverage. Just like an accident, we can’t predict our medical condition while traveling. However, not all financial companies provide an exclusive medical coverage facility. In this case, you have to find a company that provides travel health insurance.
5. Financial Emergencies
Last but not least, most travel insurance providers offer coverage for financial emergencies. However, don’t be surprised if you face financial emergencies on your trip. In this case, you have to be prepared for every situation.
We can’t predict what’s happening next, especially when we are traveling. If you are worried about it, travel insurance can be your savior. In this blog, we have shared the top benefits of having travel insurance. We have also shared the top companies that provide the best policy. Now, it’s up to you to choose the right one as per your requirement.
Ruchira is the founder of India Travelpedia, a writer by passion and profession. Besides writing, she’s a travel buff, foodie, and culture enthusiast.