How to purchase Travel Insurance Policies in India

Travel Insurance offers insurance protection while you travel. Travel Insurance may be called by different names by insurance companies. It is important for you to check and understand whether the policy covers domestic travel or overseas travel or both.

Travel Insurance protects you and/or family against travel related accidents,unexpected medical expenditure during travel,losses such as baggage loss, loss of passport etc and interruption or delays in flights or delayed arrival of baggage etc.

You must read and understand what the policy you are considering exactly covers. Do ask your insurer and/or agent or broker questions to clear all your doubts and go through the terms and conditions of the cover thoroughly.

Travel Insurance normally offers cover only during a specific period of travel.However, some insurance companies may offer various combinations of protection to cater to the specific needs of customers e.g., there could be a special policy for Corporate Frequent Travellers etc.

The Scope of Cover and Benefits offered by different insurance companies would vary. You must shop around to ensure that you purchase a policy that you need. The following are covers that are generally provided under Travel Insurance though the combination may vary.

The list,however, is not exhaustive.

o Medical Expenses with or without cashless facility (most travel insurance products offer cashless facility)

o Personal Accident

o Loss of Baggage

o Delay in Baggage arrival

o Loss of Passport

o Travel Delay

o Repatriation

o Transportation of dead body etc.

The Sum Insured offered may vary and so would the premium rates, which would depend on the country in question, apart from other factors such as Age, Period Of Travel etc.

You must go through the exclusion clauses very thoroughly. Ask your insurer and/or agent or broker for clarifications wherever you have a doubt.

In general, the following are not covered:

• Hazardous sports

• Suicide and Insanity

• War Risks

• Pre-existing diseases

There could be some exclusions relating to personal effects.

It is very important for you to understand what to do in case a claim situation arises abroad. Generally policies provide hotline numbers where intimation of claim/s should be given. You must also notify the concerned authorities involved eg,local police, embassy, transportation company etc, as applicable.

The insurer also should be notified.Normally, every travel insurance policy docket will also contain a claim form as you will be away in a distant place and may not be in a position to obtain a claim form immediately.

Courtesy: IRDA Handbook for policyholders