Things to keep in mind when buying travel insurance – Forbes Advisor INDIA


Travel insurance is simply a type of insurance that covers the myriad of risks you might encounter while traveling. Although a travel insurance policy cannot eliminate your travel problems, it can certainly ensure that you are armed with the flexibility to react to any unforeseen event and that you are compensated for the discomfort and monetary loss that may arise from these problems.

When should travel insurance be purchased?

Typically, our trips have a purpose, and an unforeseen disruption can result in both monetary loss and inconvenience. Travel insurance is a great way to deal with this disruption. There are several other specific benefits that make travel insurance a must-have for travelers. Some of them include:

  • Medical help: The last thing you want on vacation is a medical emergency. However, it’s not uncommon to find yourself rushing to the hospital emergency room due to a stomach infection or a broken limb while on vacation. Medical emergencies can take a toll on your finances, especially overseas. Your regular health insurance plan may not cover many medical expenses incurred while traveling. On the other hand, the right travel insurance policy can protect you from these expenses and ensure that you can access appropriate medical care in a foreign country without having to worry about the costs.
  • Flight cancellations: No one likes to have their travel plans upset, especially if the culprit is canceled flights. You don’t want to be stuck at the airport due to a canceled flight, fearing to catch another flight at the last minute, which may be a bit more expensive. The right travel insurance plan can put the wind under your wings, giving you agility and peace of mind.
  • Emergency evacuation: The COVID-19 pandemic has made it clear that even the best-laid plans are tenuous at best. There is always an element of uncertainty arising from geopolitical unrest, natural calamities or health emergencies. A good travel insurance plan covers emergency evacuation expenses.
  • Additional benefits: There are additional benefits that can accrue with the right travel insurance plan. These include loss and/or delay of baggage, loss of passport, trip cancellation, individual accident and disability cover, etc.

How to choose the right travel insurance plan?

As with any product, you are spoiled for choice when it comes to travel insurance. However, you should focus on buying the “right” travel insurance plan. And, to make the right decision, you need to be aware of the different types of travel insurance policies available and give due consideration to factors such as coverage provided, endorsements, exclusions, etc.

There are two main types of travel insurance policies.

  • Travel insurance policy: If your trip is a one-time trip, you can choose to purchase single trip travel insurance. However, if you are a frequent traveler, you may prefer to opt for a multi-trip travel insurance policy. Some policies even last for an entire year and can cover multiple trips to a particular destination. These can be cost effective and reduce the hassle of frequent shopping. Typically, these coverages are sold for an individual or you can also purchase family coverage. Several travel insurance companies also offer policies specifically designed for students going abroad for higher education and for seniors vacationing abroad or with family.
  • Group travel insurance: A group travel insurance policy is a way to provide travel insurance coverage to a group of people who are not a family. It is generally offered to a group of 7 or more travelers on the same trip. Although the benefits offered by a group travel insurance policy are similar to those offered by a single trip policy, it is more cost effective.

What to consider before buying travel insurance?

Although the types of travel insurance policies mentioned above are standard in nature, each insurance company will include additional nuances that you should be aware of. Here are some things to consider before purchasing travel insurance.

  • Cover: Check what the policy covers and what the policy does not cover. Don’t assume that your travel insurance policy will cover all losses that occur while traveling. You should consider coverage for the most common situations – COVID19, medical emergencies, lost luggage/documents, etc.
  • Runners: Most insurance policies don’t cover expensive items like jewelry or electronics or things like adventure sports. If your vacation plans include such things, find out about their inclusion and purchase additional coverages.
  • Complaints process: The moment of truth for any insurance policy is the claims process. Make sure you choose a reputable provider that offers transparent and efficient claims settlement. Today, many providers also offer cashless travel claims settlement. Read about insurers’ experiences on social media or check out various insurance aggregator sites for their recommendations.
  • Declare any pre-existing medical condition: If you have any pre-existing medical conditions, you must declare them when purchasing the policy. Failure to do so could void your policy.


There was a time when travel insurance wasn’t quite on the list of things to do before you travel. Today, it is mandatory for several countries as part of their visa requirements. It is also usually offered prolifically by travel agencies or travel websites. There’s simply no excuse why this isn’t a key action on your travel checklist. Like any other insurance policy, it is ideal if the need to exercise it never arises. But if things go wrong, you know you’re covered. Travel insurance is no longer just a “nice to have” – ​​it’s a “must have” for every traveler. Enjoy the journey, celebrate life.


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