Does Travel Insurance Provide Financial Emergency Cash?

Be it in Rome, Barcelona or Paris, getting your wallet or bags stolen is never a situation you want to be in. Thankfully, one of the benefits of travel insurance includes an emergency cash advance, an extremely useful feature if you find yourself penniless or short on money in a foreign place.

Read more



* Price shown is for a 15 day trip to UK with a 1 lakh dollar coverage for an adult of age 25 years

Plans include global Covid-19 coverage

Popular Destinations

Select trip dates

Don’t worry you can change your trip dates at a later stage

How many people are travelling?
1
2
3
4+

No. of travellers

-
4
+
Does the traveller have any pre-existing medical condition?

If the traveller have a known illness, injury or health condition like heart disease, diabetes, cancer etc which will help us cover you

Please select the travellers who have a pre-existing medical condition

Great! One last step to get your travel insurance plans
It will help us to share policy documents and assist you in claim settlement if needed
By clicking on "" you agree to our Privacy Policy and Terms Of Use

This will take less than a minute

Now covers COVID-19

Get Travel Insurance from 8+ insurers having more than 20 plans with Policybazaar

Plans include Covid-19 global coverage

Plans include Covid-19 global coverage

Accidental & sickness expenses

Accidental & sickness expenses

Covers Loss of check-in Baggage

Covers Loss of check-in Baggage

Get Trip Cancellation benefits

Get Trip Cancellation benefits

* Price shown is for a 15 day trip to UK with a 1 lakh dollar coverage for an adult of age 25 years

What is an Emergency Cash Advance?

When it comes to getting help from your insurer, many comprehensive travel insurance plans offer little-known benefits that are actually some of the best features of any trip insurance policy.

Financial Emergency Cash

An emergency cash advance is a great benefit that offers round-the-clock financial security in a foreign place. This emergency financial assistance is extremely useful when you need cash urgently after incidents like burglary or theft of your money or luggage.

Not just for business travellers, it is extremely useful for people who have come for a vacation and find themselves in a situation with no cash or money for necessary expenses.

Does Travel Insurance Include Financial Losses?

Smart travellers know that there isn’t any downside to buying a travel insurance plan. However, not many people pay attention to what has been offered or not offered.

Pickpocketing, theft and mugging are some of the most common crimes across the world, irrespective of where you travel or what you do. If you fall victim to these, chances are that you will need some kind of monetary help. Most travel insurance companies in India offer coverage for financial losses during your trip so that you can safely navigate any difficulty that is due to a lack of money.

This is very useful because, without necessary personal documents and cash, it will be hard to convert currency or arrange for more cash. In these difficult conditions, your insurer will help you by arranging an emergency cash advance through their network.

When is Emergency Cash Advance Used?

An emergency cash advance can be used if you’ve suffered theft, mugging, luggage loss and other emergencies that leave you without any money.

Like every benefit offered by your policy, there are some conditions to benefit from this feature. These are some things to remember if you buy international travel insurance with emergency cash advance:

  • Loss of your travel funds should be reported and claimed immediately during your trip. This facility can't be availed after the trip is over.
  • You should inform and report to the police as soon as you learn that you've lost your travel funds.
  • A written report or FIR must be obtained within 24 hours of the incident occurring. This will be required during the claim.
  • If your traveller's cheques are lost or stolen, you will need to report them to the issuing authorities immediately.
  • Financial assistance through travel insurance can't be taken if you're facing money shortage due to shortage, currency fluctuation, errors etc.
  • If you don't report the loss of your funds to the concerned authorities within 24 hours, then you can't claim emergency cash advance benefits.

Other general exclusions must be read carefully as they vary from insurer to insurer. This will save you from any misunderstandings or wrong impressions later. It will also let you prepare how to file for a claim if something like this happens while travelling.

How to Prepare for any Financial Emergency?

Prepare for any Financial Emergency

In the world of organised crimes, pickpocketing and mugging is an extremely universal crime that thrives on unsuspecting tourists. However, there are always a few things to keep in mind if you're ever in such a situation:

  • As soon as you notice something is missing or has been lost, report it to the police.
  • Make sure to report any missing valuables incidents within 24 hours.
  • Block all your cards as soon as you learn that your wallet or cards have been stolen.
  • Try tracking your phone or gadgets using the location or GPS features.
  • Contact your travel insurance company as soon as you've reported the incident.
  • In case of lost baggage or valuables, you may be able to claim partial or total compensation depending on the plan you bought.
  • Always keep your receipt safe, especially if they're for necessary items that you may claim compensation for later.

While the sum offered as compensation may be less than the cost of your original item, you will still be able to get something for the lost items. Just make sure to read up on what your policy covers or does not covers.

Over to You,

Especially for your trips abroad, travel insurance is often a mandatory requirement and offers a ton of benefits. However, it is a huge risk if you do go on a trip abroad without the shelter of a comprehensive travel insurance plan with an emergency cash advance feature. Without money, any trip can fall apart. Having a backup that guarantees you financial emergency cash is both useful and irreplaceable.

You May Also Want to Know About

Best Travel Insurance Policies in India

Best Travel Insurance Policies in India

Best Travel Insurance Policies in India When we talk about buying the best travel insurance plan, you’ll get a long list of online travel insurance policies. This creates a lot of confusion. Even if you’ll ask any expert to name the best, you...
Best Student Travel Insurance Plans in India

Best Student Travel Insurance Plans in India

Best Student Travel Insurance Plans in India Do you plan to travel abroad for higher studies? Then you must already know about high airfares and other expenses that you may face there. With student travel insurance, studying abroad can be stress-fr...
Benefits of Buying a Travel Insurance Plan for Your Next Holiday

Benefits of Buying a Travel Insurance Plan for Your Next Holiday

Benefits of Buying a Travel Insurance Plan for Your Next Holiday Most of us love to travel. Exploring new lands and new cultures is always exciting. However, it does not take much time for a straightforward mishap to turn your entire trip’s fun i...
Domestic Travel Insurance Coverage & Benefits

Domestic Travel Insurance Coverage & Benefits

Domestic Travel Insurance Coverage & Benefits Numerous insurance companies are providing travel insurance for journeys within India. But do you think of buying travel insurance in India as a compulsion or necessity? Read on to know how is it ad...
10 Best Travel Insurance Plans for Your New Year Travel

10 Best Travel Insurance Plans for Your New Year Travel

10 Best Travel Insurance Plans for Your New Year Travel Travel insurance can be taken for an international travel as well as domestic travel. Overseas medical and travel insurance can cover your medical expenses, personal accident. Read more ...
 
top
View Plans