Do Travel Insurance Plans Vary Based on Specific Requirements?

Travelling to a new place requires tremendous research and meticulous planning. From accommodation, food and transportation to basic knowledge of the culture, language and values, you ensure you learn everything in advance.

If planning to travel overseas, you may require more planning to ensure your passport is valid, if the visiting country offers a visa on arrival, if there are any specific laws on travelling, etc. Regardless of your purpose of travelling, one thing remains constant – the measure to stay safe and have financial protection during unexpected, unforeseen events.

Buying a travel insurance plan is one of the first steps to safeguard yourself from medical or travel-related issues during the trip. If things go down south, travel insurance coverage can help you provide financial aid. Travel insurance providers offer various plans per your need and preferences, and travel insurance quote, or rates usually vary depending on the plan and various other factors.

 Travel Insurance Types

Untold risks are associated while travelling. Hence, it would be best to opt for travel insurance to protect yourself against various risks and financial losses like loss of passport or baggage, medical emergencies, sickness and accidents, trip cancellation, flight delays, etc.

You can buy a travel insurance plan based on your specific requirements or purpose. Here’s a look at some of the different types of travel insurance.

●        Domestic Travel Insurance

Domestic travel insurance is one of the types of travel insurance offered to customers who wish to travel within the country’s contours. It protects the policyholder from various perils during travelling.

Some of the standard coverage under domestic travel insurance includes medical emergencies during travel, loss of baggage or passport, personal liability, travel delay, etc. Indian citizens and foreigners having work permits in India can buy domestic travel insurance policies.

●        International Travel Insurance

In contrast to domestic travel insurance plans, an international travel insurance policy is designed to provide safety and protection to customers travelling abroad. Apart from the usual coverage (similar to domestic plans like medical, baggage, trip cancellation, personal liability coverage etc.), this plan also offers a few specific coverages. Hijack cover, COVID-19 cover, evacuation to India and others are some of the additional need-specific coverage offered by most insurance providers.

●        Individual Travel Insurance

It is a vital travel policy to buy if you plan to travel alone. Whether you are a frequent traveller or a first-timer, an individual travel insurance policy with various benefits, including travelling assistance, is a must-have.

●        Family Travel Insurance

Travelling with your family is something every member looks forward to. As exciting as exploring a new place, enjoying and relaxing, keeping them safe during any unforeseen event is essential. To ensure every family member is fully protected, buy family travel insurance.

Most of the plans cover the insured, spouse and two children. You can add additional members by paying a premium. Buying individual insurance for each member might burn a hole in your pocket; family travel insurance is more cost-effective.

●        Senior Citizen Travel Insurance

This insurance covers travellers in the age group of 61 to 70 years. Senior citizens must consider buying travel insurance as medical emergencies can strike at any time. Also, they might need help in case of baggage or passport loss, flight delay etc. Many senior citizen travel insurance policies include dental treatment and cashless hospitalisation over and above the regular coverage plan.

●        Student Travel Insurance

This type of travel insurance is typically offered to students travelling abroad to pursue higher education. Some of the student-specific coverage may include sponsor protection, interruption in studies, compassionate visit, etc.

This coverage is offered to students to ensure that they do not disrupt their education in case of any mishaps during their travel.

●        Single Trip or Multi-Trip Insurance

The single-trip policy has validity until your trip ends. Whereas multi-trip travel insurance benefits frequent travellers as you can extend the coverage (up to a year) to save you from the hassles of buying travel insurance every time.

●        Business Travel Insurance

Similar to multi-trip travel insurance, business or corporate travel insurance is usually bought by companies for their employees. Business houses buy travel insurance for their employees who are regular business travellers. Since it is purchased in a group in more numbers, this insurance typically has lower premiums.

 Wrapping Up

Selecting the right type of travel insurance is very crucial. You must consider various factors before buying, like your need, benefits and coverage that the plan offers, exclusions, premium amount etc. Also, when you buy travel insurance from a reliable insurance provider like Tata AIG, it gives you peace of mind and enjoys seamless processes, comprehensive coverage and affordable rates.