What Is Travel Insurance?

What Is Travel Insurance?

What is travel insurance

Travel insurance is considered as the insurance which covers travel risks that can harm the money and travel history of a traveller. It makes the insurance carrier liable for covering the travel expenses or incidentals if a traveller is hospitalised and a foreign nation rejects a travel insurance claim. Most travel insurance comes in two forms: traveller’s insurance and pre-disaster insurance.

Traveller’s insurance

Travelers insurance is provided by a travel insurance carrier for a set of requirements. The policy must be purchased within 30 days of embarking on the trip and can be for 3-12 months. Usually, the annual rate of travel insurance ranges between Rs 2000-4000 per person. This covers up to 10% of the trip’s expenses.

Why do I need travel insurance?

Planning a trip is exciting but can be so stressful. There are so many elements that need to be covered before actually going on the trip. To make sure your trip is completely safe, you need to buy travel insurance. It provides you with the protection you need. The following are some of the reasons why you need travel insurance:

• Travel insurance can help you claim on expenses that cannot be prevented like theft or hospitalization. It can also cover medical costs during travel.

• It can help cover travel delays caused by natural disasters, war or civil unrest.

• It can help recover the cost of getting a hotel room or transportation.

• Travel insurance can also help you reimburse you if you have been a victim of theft.

What are the benefits of travel insurance?

Travel insurance is meant to protect the traveller against unforeseen circumstances that can ruin their plans. You can find travel insurance in the following categories:

Medical Travel Insurance

Emergency, Hospitalisation and Accommodation

Flights Cancellation, Lost or Damaged baggage


All the above cover your expenses while travelling. But if you cannot pay for the claims on time, the excess cost can increase your balance and there will be costs for extra night stay. The best thing about travel insurance is that you can choose the amount that suits you, based on the needs.

The minimum annual sum that needs to be paid to purchase travel insurance is US$100. There are number of travel insurance providers who offer good travel insurance for prices below US$100.

What are the types of travel insurance available?

It is important to choose a right travel insurance package to cover as many aspects as possible. The insurance package can be anything from an emergency policy, cancellation or delay, lost luggage or personal injury or medical bills.

Be very careful with regards to the company that you select to go for travel insurance. They are prone to many frauds and hence, it is essential to read up on all the legal issues before you opt for the company.

What Types of Travel Insurance do people need?

There are many types of travel insurance packages available today. Each of these insurance packages needs to be decided on the basis of a particular situation.


No two trips are the same and at times an unexpected event may take place. Travel insurance comes handy in most situations, but what if you are unable to cover the entire amount? In that case, you need to come up with a plan B. Find out which is the right amount of Travel Insurance which will protect your valuable belongings.

Get a quote online or through an insurance broker, and buy a policy at a fraction of what you used to pay. Travel insurance is important because even a small scratch or an untimely accident can leave you scammed, stranded, and penniless. Choose your travel insurance wisely and ensure that you don’t go out in a financial loss.

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