Benefits of Travel Insurance

 

Whenever I think of travel insurance, I am reminded of our trip to South Africa in 2019. We had taken travel insurance for this trip.

Unfortunately, our departure from the CSMT airport in Mumbai got delayed by 18 hours. The aircraft had developed a snag. The airline did not have a spare aircraft and the spare part to repair the defective aircraft had to be flown in from far away resulting in the delay. The airline arranged accommodation food and beverages in a good hotel near the airport during the waiting period. Notwithstanding this, after completion of this journey, we applied to the insurance company for a compensation for the delay & got it.

Needless to say, all our future travels after this are invariably insured, be it local or international, by train or by air.

Travel insurance is therefore an important aspect of any trip. It provides financial protection in case of unforeseen events that could occur while traveling, such as illness, accident, or trip delay or cancellation. While many people may see travel insurance as an additional expense, it is actually an investment in one's peace of mind and security. Let us explore some of the benefits of travel insurance.

Medical Coverage

One of the most significant benefits of is medical coverage. Medical emergencies can happen at any time, and when you're traveling, it can be challenging to find quality medical care. With travel insurance, you can get coverage for medical expenses, including hospitalization, prescription drugs, and emergency medical evacuation. This coverage can be especially important if you're traveling to a country where medical expenses are high. I remember an instance when a friend’s son had gone to UK for higher studies. When in UK he got injured playing cricket with his college friends. His travel and stay in UK was insured through a prominent Indian general insurer & the family got reimbursement of a major portion of medical expenses incurred.

 

Trip Cancellation and Interruption Coverage

Trip cancellations and interruptions can be costly and frustrating. If you have to cancel your trip due to an unexpected event, such as illness or injury, travel insurance can help cover the costs of cancellation or interruption. Depending on the policy, you may be able to get reimbursement for prepaid expenses such as airfare, hotel, and tour packages. This coverage can be particularly important if you've invested a significant amount of money in your trip.

Lost or Stolen Baggage Coverage

Losing your luggage while traveling can be a frustrating experience. However if you have got insurance, you can have peace of mind knowing that you can be reimbursed for the cost of lost or stolen baggage. This coverage can include reimbursement for the cost of clothing, personal items, and even necessary items such as medication or glasses. If your luggage is lost or delayed, travel insurance can also provide coverage for essential items such as toiletries or clothing while you wait for your luggage to arrive.

Travel Delay Coverage

Travel delays can be a frustrating experience, especially if they result in missed connections or delays in arriving at your destination. With travel delay coverage, you can get reimbursed for expenses such as hotel accommodations, meals, and transportation expenses due to a delay in your travel plans. This coverage can be particularly important if you have a tight travel schedule or if you're traveling during a peak travel season. I have given my personal experience in the opening part of this article.

 

Accidental Death and Dismemberment Coverage

Accidents can happen at any time, and when you're traveling, you may be exposed to additional risks. Accidental death and dismemberment coverage can provide financial protection for you and your family in the event of an accident resulting in serious injury or death. This coverage can provide a lump sum payment to your beneficiary in case of your accidental death.

Emergency Assistance Services

Another benefit of travel insurance is emergency assistance services. If you experience an emergency while traveling, such as a medical emergency or lost passport, travel insurance can provide assistance services such as translation services, legal assistance, and even emergency cash transfers. This can be especially important if you're traveling to a country where you don't speak the language or are unfamiliar with the local laws.

In short, Travel insurance can provide financial protection in case of unforeseen events that could occur while traveling. By paying a relatively small premium, you can protect your investment in your trip, and avoid potential financial losses due to trip cancellations, medical emergencies, or other unforeseen events.

 

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