Today, Travel insurance is becoming very important for business and holiday trips. Insurance companies are creating awareness in various ways to highlight the importance of having a travel insurance before any trip. However, the awareness of buying this product is low in India.
Travelers buy a plan that suites best to their traveling purpose and that too at a cost that is soft on their budget.
They are buying travel insurance either online through websites of insurance companies or through banks when they get their forex requirements or through their insurance agents.
There are various plans offered in the market and travelers need to be aware about various benefits that are covered and not covered under such polices before buying a travel policy.
1.Pre-Existing Medical Conditions
This is a common exclusion in many insurance policies — but what does it mean? It refers to any medical condition that has required attention prior to travel or initiation of the policy.
So, if you are suffering from an illness or condition that has been treated prior to your trip, most travel insurance policies do not cover these illnesses.
Also, if complications arise from any surgery, illness or accident you sustained prior to the travel, it is not covered in most of the insurance policy.
2. Policy covers only specific accidents or injuries
Most travel insurance specifically enumerate what is covered in the policy. Any illness or accident that occurs and is not specifically mentioned in the policy document is not covered.
Hence it is suggested to read the policy document (description of coverage section) very carefully as this will be help to you in emergency.
Insurance policies specify the conditions under which pregnancy complications or childbirth is covered (if at all). Travel insurance often classifies pregnancy as a pre-existing condition; therefore if you go into labor during your vacation, most policies do not include the medical expenses.
Hence it is important to understand the terms and conditions of the policy in advance. This is a common exclusion, so if you plan on traveling while pregnancy, ensure that you take the rightful measures.
4. Extreme Sports and Activities
If you feel adventurous during your travels and participate in extreme sports, any injury you sustain may not be covered under your travel policy.
Injuries from parasailing, mountain climbing, bungee jumping, and paragliding are typical exclusions.
5. Mental Health
Mental illnesses, emotional breakdowns, and emergencies that result from self-inflicted wounds are not covered under travel insurance policy.
If one has a mental problem that leads to a medical treatment, during the travel, the person is liable to manage the expenses on its own.
People who cancel a trip due to psychological illness may be penalized in the pocketbook.
6. War / Local protests
Although terrorism is covered by most policies, acts of war or civil unrest are common policy exclusions. If war or civil unrest breaks out, you may have to cancel your trip or rapidly change travel plans.
If volatile conditions force you to change your travel plans, any subsequent charges, such as air fare, hotel stays are not covered under the travel policy.
Travel insurance will not protect the travelers who are forced to change plans because of violent outbreaks.
7. Loss of Important Items
If, during the Period of Insurance, the Baggage, Personal Documents and/or Personal Effects that have been checked in on the same Air Line as a traveling Insured, are damaged or lost, then the Company will reimburse the Insured the cost of replacement of the articles for any amount up to the Total Sum Insured stated in the Schedule.
The Deductible, if applicable, shall be deducted from the Compensation payable. Personal Documents means an Insured’s identity card (if applicable), ration card, voter identity card, passport, driving licence and car licence.
8. Canceled Tours
Insurance policy covers the cancellation if you cancel the trip yourself. While you most likely will receive a refund from the company itself, other expenditures on your part, such as air fair or hotel accommodations, are common exclusions from the insurance policy.
In the end, your desire to travel without worries is what an effective travel insurance yearns to achieve.
Curated from Things to know about travel insurance – HDFC ERGO