Experts say Indian tourists usually do not
opt for insurance while traveling overseas but theft or health
emergencies could throw a spanner in the works.
Away from the hustle and bustle of life, an
overseas vacation comes as a welcome break. But, if you do not plan your
trip meticulously, it could turn out to be a harrowing experience.
Besides planning for the itinerary, including
travel tickets, accommodation and the required paperwork, insurance is
key to ensuring a fun-filled sojourn. According to experts Indian
tourists usually do not opt for insurance while traveling overseas,
especially for locations where travel insurance is not mandatory, but
natural calamities, outbreak of political violence, theft or health
emergencies could throw a spanner in the works of all your travel plans,
if you do not have travel insurance.
According to a survey by private general
insurance major ICICI Lombard, only 40 per cent of travelers opted for a
cover, despite the fact that 90 per cent of those polled were aware of
travel insurance. According to Sanjeev Mantri, Executive Director, ICICI
Lombard General Insurance, there are a host of travel insurance plans
available in India, including covers for medical emergencies, personal
liability, loss of passport, loss of baggage, delay or cancellation of a
trip, emergency cash advance, political risks and catastrophe
evacuation.
Here are five reasons why you must have a travel insurance cover in place before you head overseas.
Loss of Passport and/or Baggage
There can be nothing more harrowing
than losing one's passport in a foreign country. In case you do not
speak the local language, communicating can be a challenge. But travel
insurance can be handy under such circumstances. A call to the emergency
number would not only help you get a duplicate passport, but all the
related expenses incurred is also taken care of by the insurer. Frequent
travelers would know that misplacing or losing one's baggage in transit
while taking multiple flights is very common. In some cases, it could
take many day to track the baggage and get it back. In such a situation,
if you have valid travel insurance, the insurance company would
compensate you. If you happen to lose your baggage, the insurer would
also pay you a pre-approved sum as stated in the policy immediately to
cover for your losses. Here, Mukesh Kumar, Executive Director, HDFC ERGO
General Insurance notes that in case of loss of handbag, any form
electronic items present in it will not be covered. Watch Out: The
deductibles, exclusions and the cap on expenses when it comes to
reimbursements.
Medical Coverage
You may be in the best of shape,
but you never know when you experience a health emergency, including
injuries, for which immediate medical attention may be required. You
must also know that most medical insurance policies availed in India are
useless beyond the borders of the country. Therefore, medical cover is
an essential part of your plans, and that's provided as part of the
travel cover. Travel insurance plans cover emergency medical and medical
assistance as well as related transportation costs. Healthcare expenses
in the reasons why you must have a West can be a serious setback if you
are not supported by insurance. "In case of any medical emergency on
your trip, your insurance plan would cover diagnostic tests, ambulance
charges, in- and outpatient treatment, evacuation charges and travel
costs to hospital. Most importantly, the plan could give you the
facility of cashless hospitalization," says Mantri. Emergency dental
treatment is provided as a part of such plans. Watch Out: Read the fine
print because pre-existing illnesses are not covered in most travel
insurance plans. However, if pre-existing ailments need to be taken care
of, then such plans too are available in the market. However, suicide,
insanity and injuries arising as a result of adventure sports, are not
covered by most plans.
Cancellation or Delay
Last-minute illness, personal
emergency or a death in the family could result in cancelling your
overseas trip. This is bound to cause some monetary loss as many
bookings are non-refundable. A travel plan that has cancellation
coverage will come to your aid at such times through reimbursements of
such costs. Rajagopal G., Senior Vice President & Head of Operations
& Claims, notes, "Disease, injury or illness must be disabling
enough to reasonably cause a trip to be cancelled and supported by
medical records. Reimbursement will be for the forfeited, non-refundable
prepaid payments made by the insured prior to the illness that caused
the cancellation." Cancellation compensation is also applicable when a
trip is cancelled due to a terror attack, strikes and weather related
events. Other than this, expenses incurred as a result of delays,
interruptions or a missed fl ight is reimbursed. The option of emergency
cash advances is yet another feature which comes handy when stranded.
Watch Out: For most insurers, there is a specified list of events under
which cancellation claims are entertained. So be careful of the
exclusions before you opt for one.
Emergency Evacuation
You never know when a natural or
man-made calamity is about to strike. Tsunamis, earthquakes, volcanic
ash clouds, political uprisings and terrorist attacks are all instances
where emergency evacuation is a must. If you have an insurance cover,
the onus is on the company to evacuate the insured person back to his or
her homeland and provide medical help when necessary. Watch Out: Check
the assistance provided and the scope of coverage. You may come across a
list of places (generally conflict areas) where this facility is not
available.
Round-the-Clock Support
This may look like a frivolous
point. But when stranded in an unknown location in a foreign land,
access to 24x7 emergency helpline comes in handy to get guidance and
directions in adverse circumstances. Therefore, it is always advisable
to carry a copy of the insurance document while travelling. Rajagopal
says, "Helpline team advices on nearest hospital or can help arrange for
evacuation."
Contact Details.
Address : Grounf Floor, Ram Smruti,
Opp. to New English School,
Ram Maruti Road,
Cross Road,
Thane (W) - 400602,
India
Tel:+91 - 22 - 4038 4747
Fax:+91 - 22 - 2542 3427
E-mail: crossh@gmail.com
