What is Travel Insurance and What Does it Cover?

Types of Travel Insurance in India: From Schengen to Student Plans

India may be a country of all seasons, promising a variety of tourism opportunities, but there's something about a totally new culture and country that attracts millions of Indians each year. But not all journeys are the same, and not all travellers need the same protection. Someone going for a week-long conference may need some basic coverage, whereas someone planning an adventurous getaway in New Zealand may need beyond regular coverage.

For this reason, Indian travel insurers offer a range of customised plans that anyone can easily find. You can easily find the perfect travel insurance plan from among these:

1. International Travel Insurance

   • Made for journeys abroad, available for over 150 countries. International travel insurance plans cover your journey from India, during your activities and stay abroad and even when you are returning.
   • Common benefits under such plans include trip cancellation, flight delays, bounced hotel bookings, passport loss, emergency medical hospitalisation, adventure sports coverage and more.

2. Schengen Travel Insurance

   • The Schengen region in Europe is made up of 29 countries with a special border-free zone. It issues a Uniform Schengen visa to non-members, including Indians, so that they can visit the area.
   • The Schengen zone has some of the most famous tourist destinations in the world, including Paris, Rome, & Amsterdam. To visit these places, you must have a Schengen visa, which requires proof of Schengen travel insurance.
   • Your Schengen travel insurance must meet all the requirements, including a minimum coverage of EUR 30,000 and be valid throughout the Schengen Zone.

3. Student Travel Insurance

   • Indian students who get admitted into accredited international colleges/universities require extensive support and financial safety.
   • Facing an emergency on top of living expenses abroad, college tuition fees, can be a huge setback on any student's emotional and physical health.
   • Student travel insurance plans in India offer comprehensive coverage beyond medical emergencies- they offer coverage for things like compassionate visit, sponsor protection, study interruption, bail bond, laptop loss and more.

4. Senior Citizen Travel Insurance

   • Most travel insurance plans don't cover travellers beyond 60-70 years. However, senior travellers are also at a higher risk of facing health and financial emergencies abroad.
   • Senior citizen travel insurance plans cover parents, grandparents, and elderly visitors who wish to travel abroad for various reasons.
   • The premium is usually higher than regular trip insurance plans, but it provides the necessary support to seniors over 70 in case of medical, travel-related and assistance-related emergencies.

5. Family Travel Insurance

   • Families that travel together stay together. But you need to take care of yourself and your family's safety even before the trip starts.
   • Family travel insurance covers you, your spouse and your dependent kids. Many plans also offer coverage for parents-in-law, making it super easy to secure the whole family under one plan.

6. Domestic Travel Insurance

   • India's amazing diversity and numerous attractions make for the best getaways and vacations. However, every trip deserves the same security in case something goes wrong.
   • Domestic travel insurance plans cover some common travel issues like loss of air/rail ticket, theft of luggage, personal accident, emergency family travel, and more.

7. Multi‑trip Travel Insurance

   • Annual multi-trip insurance is especially designed for frequent travellers who go abroad multiple times. It has all important coverages in case you're in a medical, flight or stay related emergency.
   • AMT or annual travel insurance is perfect for those travelling more than 2-3 times a year. It is valid for a year, often covers an unlimited number of trips and can be renewed, unlike other plans.

Is Travel Insurance Mandatory?

Travel insurance is mandatory to visit more than 40 countries in the world, with many others following suit. These countries realise the risks and burdens on tourists who may unfortunately fall sick here or face a situation which costs them a lot of money.

The healthcare costs in many countries are significantly higher than India's. Sadly, not every tourist is aware of this until they see a long bill which may even cost their entire trip.

Governments across the world realise the burden it can have on their own economy as well as the visitor, so mandating travel insurance is often the best thing they can do.

But does this mean that you can skip travel insurance if it's not mandatory?

Well, if you think you have sufficient financial support or an alternative safety net like a credit card travel insurance, you may be somewhat safe. But it is still smarter and extremely affordable to spend a few thousand rupees on a holiday insurance policy.

What Travel Insurance Covers?: Medical, Delays & Emergencies

Travel insurance companies in India offer a wide range of options. You can even find a lot of rare but helpful coverage offered by a few insurers, proving just how much thought goes into designing the best travel insurance plans:

• Medical Emergencies: You will be covered for hospitalisation, emergency evacuation and several other crucial health expenses if you fall sick or get injured abroad.
• Flight/Airline Emergencies: From missing a connecting flight to waiting endlessly for a delayed flight, you will get compensated for your bad experience and inconvenience.
• Baggage Delays/Loss: Your insurance will cover daily essentials until your baggage is returned.
• Emergency Assistance: Most insurers offer dedicated helplines and 24X7 global support. All you need to do is call them for help.

Why You Need Travel Insurance?: Real Risks, Real Reasons

Still feel that you can do without trip insurance? Think again:

• France, Italy, Germany, Switzerland, and at least 30 more countries need travel insurance proof before they issue your visa.
• Rising disruptions across the world, like political unrest, flight delays, natural disasters, pandemic and contagious diseases are beyond anyone's control. Travel insurance covers these and more.
• High medical costs abroad can cost you lakhs of rupees. This is often an entire person's trip budget.
• People who already have a disease are at a higher risk of falling ill abroad. Insurers now offer coverage for pre-existing diseases or PED, an extremely popular travel insurance add-on.

How to Buy Travel Insurance?

Buying travel insurance hardly takes a few minutes if you have the details figured out. All insurers require your travel dates, the place you are going to and personal details.

You can compare your options on Policybazaar.com and check what everyone is offering. Make sure to keep the following in mind:

• Buy a plan at least a few weeks before the trip. It will help you with pre-trip issues like trip cancellation or refund of visa fees.
• Choose a sufficient sum insured (the maximum amount paid by the insurer) depending on the country and risks you may face there.
• Use a travel insurance premium calculator to get an estimate of how much travel insurance costs.
• Check real reviews on independent blogs/vlogs to learn about an insurer's claim process, CSR (Claim Settlement Ratio) and overall customer experience.
• Pay special attention to add-ons- these can save your day. From adventure sports to enhanced PED coverage, you can be protected despite adversity.

What Travel Insurance Doesn't Cover? (And What You Can Add)

Exclusions are situations that are strictly not covered by the insurer. Travel insurance policies have a general list of exclusions that won't be covered unless there is a certain exception. For example:

• Most plans won't cover pre-existing diseases, but if you opt for a PED add-on, then you can be covered.
• No insurer covers adventure sports or winter sports, but if you have an adventure sports optional, you will be covered for most of them up to a certain capacity.
• Pregnancy, maternity-related care are not covered by policies, but most student travel insurance plans offer these benefits to Indian students who are enrolled in a long-term study program.
• Loss of a gadget is usually not covered, but several insurers offer loss of a laptop and other expensive gadget coverage.