Planning to go abroad? Here's what you need to know about travel insurance

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Travelling overseas can be thrilling, but even the best-prepared trip can be disrupted suddenly. Whether it's a medical crisis, a flight delay, or misplaced passport, these situations can not only spoil your travel experience but also burden you with substantial out-of-pocket expenses. That's where travel insurance comes in. It serves as an economic safety net, protecting you from unforeseen mishaps that can happen miles away from home.

Most travellers continue to view insurance as an added extra, but in actuality, it's becoming more and more unavoidable. It's actually mandatory for entry to some nations. More importantly, without insurance, a medical crisis while abroad would ruin your savings.

Medical cover is the most important feature

The most significant component of any travel insurance plan is medical coverage. Foreign medical treatment—particularly in nations such as the U.S., Canada, or the UK—is likely to be prohibitively costly. Travel insurance can provide you with assistance to pay for hospitalization, emergency surgeries, and even medical evacuation if needed. Certain policies provide 24/7 services assistance to get you to hospitals or get treatment arranged in unfamiliar cities.

Make sure your policy clearly states the sum insured and whether pre-existing conditions are covered. If you’re travelling for an extended period or have senior citizens in the group, opt for a comprehensive policy with high medical limits.

Coverage for trip delays, cancellations, and lost baggage

Apart from healthcare concerns, travel insurance also covers you for interruptions in your travel schedule. Illness, weather conditions that cause disruptions, or family emergencies at home leading to cancellations can be repaid if you have a trip cancellation benefit. In case your luggage is delayed or lost, you can claim reimbursement for necessities purchased or the loss of personal belongings.

Always read what is and isn't covered. Certain budget policies might cover high-cost items such as electronics or include stringent terms for recovering compensation.

Check visa and destination-specific requirements

Certain nations, particularly in Europe (such as those in the Schengen zone), ask for evidence of travel insurance as a prerequisite for granting a visa. The terms and the amount of coverage should satisfy certain requirements—often a minimum of €30,000 for medical emergencies. Always check these requirements for your destination country well ahead of time.

Even if it's not required, some destinations with high medical bills or politically unstable conditions make travel insurance an practical requirement. It also provides a sense of security when dealing with new systems and languages.

Selecting the right policy for your trip

Not all travel insurance policies are the same. Some are designed for business travel, some for students, some for families or holiday travel. If you're taking up adventure sports or travelling to outlying areas, you might need a special policy with additional cover. Regular flyers might also look at annual multi-trip policies that give you better long-term value.

Compare policies online in advance of purchase based on coverages, exclusions, claim processes, and customer feedback. Consider insurers with rapid electronic claims and active customer service, particularly abroad.

Don't leave without it

In a world where flight delays, missing luggage, and unforeseen health dangers are all too familiar, travel insurance is more than merely a precautionary measure—it's vital. It allows you to travel freely, assured that you're covered against the unexpected. So before you take to the skies, take a few minutes to locate the proper travel insurance policy. It could prove to be the most valuable item you packed.