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Travel Insurance - Understanding The Importance

The Basics of Travel Insurance

Insurance is the best available option to manage all your risks while traveling. You just need to spend a small amount to transfer the cost of your probable loss to the insurance company. As the name suggests, travel insurance covers all your losses which may occur while travelling. The coverage of losses depends upon the travel insurance policy you have. Following are the few key points to consider while choosing a travel insurance policy.

Things to know before opting for Travel Insurance

  1. Travel Insurance is completely different from health insurance. It does not work as an alternative to the losses covered by a health insurance policy.
  2. Travel insurance does not cover pre-existing health issues.
  3. As per an article by, Travel Insurance Facilities Group published a report claiming that only 45% of people read the entire coverage details of a policy when they need to file claim for their losses. This ignorance to the coverage details may lead to the failure of a claim. Hence, it is advised to have adequate information about inclusions and exclusions in your travel insurance policy.

Types of Travel Insurance:

The next step is to know about the various types of travel insurance policies that you can avail:

1. Individual /Family Travel Insurance:

Individual travel insurance provides coverage for a single traveler while family travel insurance covers the risks for all family members traveling with you.

2. Student Travel Insurance:

This is a travel insurance specifically designed for students relocating abroad for further studies.

Types of Travel Insurance Policies:

Now that you know the types of travel insurances, it is important to also understand the various types of policies that you can opt for based on your plans. These plans mentioned below would help you understand the risk factors that various policies would cover:

1.Schengen country Travel Insurance:

Schengen countries comprise of 26 European states which require Schengen visa if you are planning to stay for less than 90 days. Travel insurance is mandatory to avail Schengen visa.If you are planning to visit any Schengen country, you need to have Schengen country travel insurance.

2.Non Schengen country Travel Insurance:

This is one of the most widely used travel insurance. It comes with various options for all the countries other than Schengen. You can select the best option that matches your plans and conditions.

3.Annual multi-trip Travel Insurance

For multiple trips within a year, you may go with annual-trip travel insurance policy which is also cost-effective.

4.Single trip Travel Insurance:

As the name suggests, it is the most preferred policy for someone who is travelling only once a year.

Only knowing is not enough until you implement it. Avail the best plan and have the safest journey.


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Disclaimer :The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Insurance needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice for Travel/Health/Motor. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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