When going abroad, it is very important to buy travel insurance. But some people wonder, “Is it worth it to pay for travel insurance?”. Others may also ask, “Is it important to have travel insurance?”. Well, the answer is yes. You do require travel insurance from a reputed company like Bajaj Allianz travel insurance, sometimes as a mandate by law and many times just to safeguard you from a lot of trouble.
There are many different kinds of travel insurance plans, and you need to understand them to make sure you buy the right one.
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The type of travel insurance you buy and the premiums you pay would depend on
- What kind of trip do you plan to take?
- Are you going on your own? with relatives? In a big group?
- Are you going somewhere for business, pleasure, missionary work, school, or something else?
- What’s your age? Young? Elderly?
- How long will your trip be?
- What exactly do you want to be covered for?
Types of travel insurance
- Flight insurance: It is the simplest and affordable travel insurance. It pays the beneficiary if an insured dies in a plane crash.
- Accidental death & dismemberment insurance: It covers trip-related casualty or limb loss. This coverage is usually higher on common carriers (public transport).
- Emergency medical evacuation insurance: Transport to the nearest medical facility.
- Repatriation of remains insurance: It covers the insured’s remains if they pass away while travelling.
- Travel medical insurance: This covers unexpected illnesses, injuries, and accidents. Travel medical insurance is excellent for anyone travelling abroad for a few days, six months, a year, or longer. Trip-interruption coverage allows travellers to return home early in the event of a serious sickness, the passing away of a loved one, house destruction, flooding, or other emergencies.
It would also cover emergency medical evacuation, repatriation of remains, loss of checked luggage, emergency assistance, and more. If you have pre-existing conditions, consider travel insurance that covers acute onset.
- Group travel medical insurance: Generally identical to individual plans but usually 10% cost-effective and require at least five travellers.
- Multi-trip travel insurance:Executives or frequent travellers can buy multi-trip travel insurance if each trip is limited to 30, 45, or 70 days (depending on the policy).
- Annual travel medical insurancepolicies cover any number of journeys up to the allotted days.
- Trip-cancellation insurance:Trip-cancellation insurance can cover your non-refundable, booked cruise or another holiday if you plan in advance and pay a lot of money.
If you plan to do dangerous sports like snow skiing, bungee jumping, or something similar, make sure that the travel insurance plan you buy will cover those activities.
Running around to find health care in a place you don’t know when you’re sick or hurt might be too much. On top of that, things could quickly get worse if you can’t pay for the same. So, getting insurance from a reputed company like Bajaj Allianz travel insurance is a must for any trip outside the country.
In fact, as stated earlier, it is compulsory to have travel insurance for visiting certain countries. For e.g. most European countries won’t sanction you a visa until you buy Schengen travel insurance.
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