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What is Travel Insurance? (Benefits, Inclusions & Exclusions)

While traveling abroad, we prepare to the best of our capacity for any emergencies. However, some emergencies like medical expenses, cancellations, delays, etc cannot be predicted. To safeguard yourself and your family from such situations you must invest in travel insurance for overseas.

This insurance provides financial aid against a wide variety of problems that may arise on a foreign trip. It may come in handy especially for those who are traveling to distant countries. If you’re planning to travel soon, you must understand what overseas travel insurance covers and what are its exclusions.

Coverage under Overseas Travel Insurance

1. Illness Cover

Travel insurance offers complete protection in case of unexpected illness, accidental injuries, and death. The insurance covers various expenses like pre and post-hospitalization costs, permanent disability expenses, dental cover, repatriation costs, etc.

2. Loss of baggage

The insurance company provides complete reimbursement in case of loss or displacement of baggage after checking in to the airport.

3. Flight Cancellation/ Delay Cover

Trip cancellation cover takes care of all the expenses in case the trip is delayed for 12 hours or more due to the airline’s fault. Also, you will be provided reimbursement if you miss a connecting flight due to the delay of the first flight.

4. Financial Emergency Benefits

In case you need urgent money due to theft or robbery on the trip, the insurance company provides you the necessary help.

5. Document Loss Cover

Insurance covers the loss of not only passports but any important travel documents and also reimburses you the cost of obtaining the duplicate / fresh documents.

6. Third-Party Cover

In case your involuntary actions result in demise, injury, or damage of a person, the insurance will pay the necessary compensation to the concerned person.

7. Hijack Risk Cover

If you are caught in the unfortunate event of a hijack, you will be given compensation provided the hijack lasts for more than 12 hours.

8. Home Burglary Cover

If your house is robbed during your international trip, you will be provided compensation for the loss of valuables.

Exclusions Under Overseas Travel Insurance

  • In case of passport loss, if the complaint goes unregistered with police authorities, the company is not liable to pay any compensation.
  • The insured person will not be given medical cover if he/ she did not disclose any pre-existing diseases before the commencement of the policy. Also, patients suffering from HIV/AIDS and venereal diseases are not given cover.
  • The insurance company is not bound to pay compensation if the loss occurs due to mental incapability, depression, the influence of alcohol and drugs, and suicidal attempt.
  • The cover is excluded if you are traveling abroad for medical treatment and also if you are traveling without a valid recommendation from the doctor.
  • You won’t be eligible for insurance if you are diagnosed with life-threatening diseases before your travel.
  • The insurance won’t be liable for any casualties or damage if the visiting country has a risk of war or nuclear threat.

Traveling abroad can be filled with many contingencies, but investing smartly in travel insurance for overseas will help protect you from it. Irrespective of the country you are traveling to, make sure that you purchase overseas travel insurance for the safety of yourself and your family.

Are you looking for a new insurance policy or a policy renewal? Reach out to us and let us assist you.

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