Baggage Insurance comes into picture when you lose your baggage during your trip due to theft or any other mishap. The losses incurred due to such mishaps might put you in some really big troubles and ruin your trip. In order to get compensated for the damage or loss to your luggage while on your trip, you can always rely on baggage insurance plans.
Baggage insurance is a type of insurance that protects the accompanied baggage of a traveller from any unforeseen damage or loss. The term ‘Baggage’ refers to the personal items or goods belonging to the insured traveller that he carries during his travel. Therefore, a baggage insurance policy covers any damage or loss to the personal items or goods of the insured traveller during his domestic or international trip. It provides comprehensive coverage to the accompanied baggage from any loss or damage due to unforeseen events such as fire, theft, riots, strikes, accident and terrorist activity.
Travelling is a fulfilling experience for most people where the whole focus is on enjoying and exploring new places. Facing an unfortunate incident that damages or results in loss of your accompanied baggage will not only ruin the vibe of the trip but would also incur unnecessary expenses. This is where baggage insurance comes to your rescue and helps you continue with your trip without any obstruction.
A baggage insurance policy also protects the insured’s check-in baggage from any damage or loss caused during the flight or by the airline staff. It also covers any delay in the arrival of the checked-in baggage by the airline in the form of reimbursement of any expenses incurred on essential items such as clothes, toiletries, medicines, etc. In fact, some travel insurance policies also provide protection to the additional baggage purchased during the trip.
Baggage insurance can be purchased as part of a travel insurance policy as well as a standalone insurance policy. The traveller can make a decision on the basis of his requirements and thus, ensure a stress-free trip.
Here are some of the features of a baggage insurance policy:
A baggage insurance policy is one of the smartest decisions that you can take for your smooth travel. This is because a policy for accompanied baggage comes with numerous benefits for the insured traveller. Here are some of the benefits of buying a baggage insurance policy:
People travelling within India or abroad are quite different from each other. Naturally, their travel needs can differ from each other. Therefore, it is important for a traveller to find an insurance policy that fulfils their travel needs. In an attempt to fulfil the requirements of different kinds of travellers, baggage insurance in India is divided into three categories:
This is a type of baggage insurance policy that covers any damage or loss of the accompanied luggage of the insured traveller for a single trip. It begins with the start of the trip and expires as soon as the trip ends. This type of baggage insurance is suitable for people who travel occasionally, mostly as tourists.
This is a type of baggage insurance policy that protects the luggage of the insured traveller against any unforeseen damage or loss for multiple trips. The exact number of trips that are covered under this policy depends on the terms and amount of premium paid by the insured traveller. This type of travel insurance is best suited for frequent travellers and business travellers.
This is a type of baggage insurance policy that covers a specific item which has been insured by the traveller from any loss or damage throughout the duration of the trip. This type of baggage insurance is made for people who travel with expensive and valuable items and any damage or theft to such items can lead to huge financial loss. For instance, you can get your laptop, professional camera, musical instruments, etc. insured under this type of baggage insurance policy.
Before you buy a baggage insurance policy, it is important for you to know the extent of coverage offered. Take a look at some of the most common inclusions of a baggage insurance policy:
There a few situations where no reimbursement or compensation will be provided under a baggage insurance policy. Take a look at some of the exclusions:
Any person who is travelling outside his/her city of residence can buy a travel insurance policy. This policy can be purchased by any traveller irrespective of whether he is travelling domestic or international. If the traveller is carrying any luggage during his travel, he/ she is eligible to buy a baggage insurance policy.
Baggage insurance works as a standalone insurance policy or as a part of a travel insurance policy. The steps that are followed in a baggage insurance plan are as follows:
In case there has been a loss or damage to your luggage or your check-in baggage has been delayed by the airline with which you were travelling, you will have to file an insurance claim. Following are the steps to be followed while registering a baggage insurance claim:
Each claim of baggage insurance has to be supported along with few documents. Take a look at the list of documents that you need to submit at the time of filing a baggage insurance claim:
There are certain crucial things that you should consider before buying a baggage insurance policy:
Baggage Insurance is easily available in the insurance market in India. We have listed all insurance companies in India that offer baggage insurance policies. Take a look:
How much time does it take for a baggage insurance claim to be settled?
Usually, an insurance company takes about 2-4 weeks to settle a baggage insurance claim. In case any additional documents are required by the insurer or if the case is disputed under the court of law, it might take more time than usual depending on the situation.
On what factors does the premium of a baggage insurance policy depend?
The premium amount for a baggage insurance policy depends on the following factors:
1. Sum insured- The higher the amount of sum insured, the higher your insurance premium will get
2. Geographical location- The premium for a baggage insurance policy depends on the travel destination of the traveller.
3. Terms and Conditions- The terms and conditions of a baggage insurance policy also help to ascertain the premium amount which has to be paid by the traveller.
Can I extend the geographical limit for my baggage insurance policy?
Yes. Certain insurance companies allow the traveller to extend the geographical limit stated initially under a baggage insurance policy.
What is the policy period of baggage insurance?
You can buy a baggage insurance policy for a single trip as well as for multiple trips.
What is the sum insured amount for Baggage Insurance?
The sum insured amount will depend on the present market value of the items carried in the luggage during your trip.
What are the advantages of buying baggage insurance?
Baggage insurance would come handy to almost every frequent traveller be it domestic or overseas. Here are some of the advantages of having a baggage insurance cover:
1. It recompenses the cost of items that are lost or stolen from your luggage during your trip
2. It recompenses the amount in case of baggage loss or damage
3. It ensures a hassle-free trip within India and abroad
4. It also covers the cost of damage caused to your luggage duet to riots, fire, strike, etc.
What are the documents required for the baggage insurance claim process?
The claim process for baggage insurance is quite simple and the documents required are as follows:
1. Submit the duly filled claim form
2. Submit the baggage insurance policy documents
3. Furnish the details of the damaged or lost items
4. Xerox of the insurance policy
5. Only in case of theft or related incidents, a copy FIR would be required