Will your insurance policies be safe in your e-insurance account?

Mumbai airport witnessed chaotic scenes today morning as there was a huge rush of passengers. Long queues of flyers were seen for security clearance and many reported to have missed their flights. Heavy rush was also reported at Chennai airport. Domestic carrier IndiGo advised passengers “to report early to allow sufficient time for security check”.

According to an NDTV report, airport authorities attributed the sudden rush of passengers today to the “festive season”.

Many see this as a sure sign of travel gradual return to the pre-pandemic level. But surely it is not the time to lower guard against Covid-19. Medical experts have advised that Covid-19 protocol should be adhered to strictly to prevent the spread of coronavirus.

Mitigating risk

Travel is associated with certain risks, particularly during pandemic times. While the risk cannot be eliminated, it can certainly be mitigated. Travel insurance is one of the best ways to mitigate such risks. It covers the costs and damages which are associated with different trips.

Travel insurance offers financial protection from chaotic happenings, such as the one mentioned above, during a trip. Experts suggest that it is best to book insurance before departure so that unforeseen interruptions are taken care of.

As in other types of insurance, there are inclusions and exclusions in travel insurance too and they vary from insurer to insurer and from one policy to another. Some travel insurances cover damage to personal property, equipment and rentals, while others offer insurances more selectively.

Cancellation of travel, interruptions in travel and loss of luggage or damage to luggage are some of the major risks covered by travel insurance.

Medical expenses caused by accidents are also covered. Travel insurance also takes care of emergency services, such as lost passport replacement, remittance assistance, and cancellation of flight reservations.

Though the risks covered and features of travel insurance differ from one insurance company to another, some aspects of trip cover that are most discussed are explained here.

Coverage of losses due to trip cancellation

Insurers normally compensate the insured travellers for prepaid and non-reimbursable expenses they incurred. Acceptable reasons for cancellation or interruption can again differ from one insurance company to another.

It is, however, pertinent to note here that trip cancellation or interruption is excluded if the travel destination is hit by severe weather conditions like hurricanes or natural calamities like earthquakes.

Baggage insurance

In the case of flights, most airlines compensate if a traveller’s luggage is lost or damaged. Personal baggage insurance offers additional cover. Remember, the chances of losing luggage and personal belongings are high while travelling within the country or even abroad. Many travel insurance plans pay for your belongings in case of loss.

Medical Insurance Coverage

Travel health insurance offers two types of coverage,– short-term health coverage and major health coverage. Short-term cover offers protection for five days to one year. Major insurance is for those who travel long distances. Long-distance travels may require one to pay for medical expenses, even medical evacuation if not adequately covered by travel insurance.

Nowadays, trip insurance comes with travel packages. Travellers need to identify their specific needs and compare different policies before zeroing in on one.