Travelling to an international destination requires critical planning. Imagine this scenario: you have meticulously planned your stay abroad. You have shopped with essentials, crafted a well-designed itinerary, and made all reservations. But at the eleventh hour, the destination you are travelling to is facing natural calamity. Suddenly all your plans come to a standstill. There’s no hope left that you will be able to take that much-awaited trip.
Now what? All efforts, planning, reservations go waste. But not when you avail a travel insurance policy!
Why is it essential to purchase overseas travel insurance?
A travel insurance plan safeguards you from unexpected emergencies that might arise in a foreign land. It acts as a friend in an unknown country. Travel insurance provides for the cost of medical expenses, lost baggage and documents, trip cancellation/delays, trip delays and more.
How much ever you plan your trip with caution, these events are unexpected and can throw you off guard. Thus, it makes a prudent decision to add a travel insurance policy to every overseas travel plan.
Free-look period in travel insurance
On purchasing travel insurance, the insurance company gives a specified duration known as the free-look period. During this period, you can evaluate the policy coverage, i.e. its inclusions and exclusions and the clauses too. This period differs among every insurance company according to their terms and conditions. Not only is it made available for international travel plans, but also domestic travel insurance policies. During the free-look period, you have the option to return the policy and avail an entire refund, which would really help in the long-term while buying student travel insurance. It is possible only if you haven’t made a claim or your trip hasn’t begun. The free-look period is an excellent time to evaluate the coverage of your policy and purchase additional cover if required.
Trip cancellation cover using a travel insurance plan
Trip cancellation cover is one of the standard coverage options to look for when buying a travel insurance policy. Cancellation as mentioned in the above example due to factors beyond your control is covered. At such times, there is a huge financial setback. Your policy provides reimbursement of the entire cost of travel including air tickets, hotel reservations or any activities for which advance payment is made. A key factor to note is that it is valid only before the date of departure. Any amendments or cancellation later fall outside the scope of this cover.
Apart from cancellation, curtailment is another factor that should be a part of your policy coverage. Curtailment is the situation where you have to cancel or reduce your trip due to unforeseen circumstances. Reasons like the demise of a family member, medical emergency, natural calamity, terrorist attack, etc. are some reasons why your trip may be curtailed. At these times, your insurance company reimburse the cost of going back home.
These benefits make availing travel insurance more of a necessity than an optional purchase. If you are on a family trip with elderly individuals, buying travel insurance for senior citizens is necessary. Overseas travel insurance acts like a parachute against unanticipated circumstances. So stay prepared and insure your travels using a travel insurance policy.