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Planning to buy travel insurance? Here’s what your cover would provide

While the purpose of travel could be business or leisure, they often offer diverse experiences and yet come with a common set of travel risks.

Navneet Dubey @navneetdubey91

The world will remain a mystery if you do not explore it. Travelling contributes towards building one’s knowledge and personality, with a plethora of influence from new environments, people and cultures. Whether it is related to going on vacation or official work, travelling has become a part of our lives. “While the purpose of travel could be business or leisure, they often offer diverse experiences and yet come with a common set of travel risks,” Anuj Gulati, MD and CEO, Religare Insurance told Moneycontrol.

Hence, while travelling, especially going abroad, you must always opt for the best travel insurance cover so that your journey can be secured against financial losses. “It is important to have a travel insurance plan to avoid any financial burden due to unexpected events and have a stress- free travel, especially when you are travelling overseas. Though travel Insurance protects you against financial loss arising due to flight cancellation, loss of baggage etc. but medical coverage is the most important component in it and becomes crucial when travelling abroad,” said Tarun Mathur- Director,

Here are some of the most important elements that travel insurance covers during your overseas travel:

 Emergency hospitalisation expenses:

While most of us wish that nothing goes wrong on our holiday, it is wise to take into account sudden medical exigencies arising out of an accident or unexpected illness. One could injure their leg due to a minor slip or in a car accident or maybe gets diagnosed with a stomach infection. A travel insurance offers coverage for hospitalisation expenses in such situations.  Not just this, there are some policies that offer coverage even where the insured requires further treatment post return to their home country.  Additionally, there are products available in the market that not just offer IPD (Inpatient Departments) coverage but goes beyond that to cover out-patient treatments as well. Furthermore, you will find some insurers covering pre-existing ailments provided the situation is life-threatening in nature.

 Loss of personal belongings:

Some travel insurance policies go beyond providing just cover for medical emergencies and also cover financial loss arising out of missing checked-in baggage or passport, even facilitating arrangements for a temporary passport.

 Trip delay/cancellation:

Airline tickets form a considerable amount of one’s expenses on a holiday and any cancellations due to illness, a natural calamity and personal misfortune can result in a significant financial loss. Travel insurance comes to aid here by helping cover cost incurred in re-booking the tickets.

 Medical evacuation:

In case one confronts a situation wherein they fall ill or are injured and require to be transported to the nearest medical facility, travel insurance provides medical evacuation for the same.

Thus, it shows that buying a cost-effective travel insurance is a must. One needs to safeguard their journey well by taking the right policy before planning to travel domestic or abroad.

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