Travel Insurance – A Must or a Waste?

Why do you need a Travel Insurance?

Travel Insurance is a must when you travel abroad. Should you take one? The unequivocal answer is an YES!

Safety First. Adventure Next.

Luckily, I have never been mugged. I have never missed a connecting flight due to flight delays. Rather, I had planned so well that the odds of missing a connecting flight were slim to none! I did fall sick once, but managed to move on with the medicine I carried. I have never lost my passport or luggage. I have never visited a physician or met with an accident abroad. I did scuba diving, snorkeling and kayaking in Thailand and Surfing in the Philippines. Luckily, I have never got injured and came out alive every other time. My house was not burgled when i was out on a vacation.

What are the odds that I would make it the next time? What are the odds that you may not meet with unforeseen circumstances on your trip?

I am not rich enough to bear any emergency medical expenses or compensate for a third party injury owing to an accident and I assume that you may not be too…

Save or Lose?

10$ / 600 INR is the average cost of a Travel Insurance purchased in India without Adventure Sports inclusions. 60$ / 4200 INR is the average cost of a Travel Insurance purchased in India with most of the Adventure Sports inclusions.

You may save 10$ to a 60$ on a minimum, by not purchasing a travel insurance, but is it worth risking your life?

If you were to end up in an emergency hospital visit, lose your luggage or passport, miss a connecting flight due to delay – the price you pay is higher both in terms of money and effort. You also get to have one real hell of a vacation to regret for! You lose!

Should you bet your hard earned vacation against saving few dollars?!

A prudent traveler purchases a Travel Insurance with safety on mind. Are you prudent enough to safeguard yourself by investing on Travel Insurance or rich enough to pay at premium during emergency situations?

How to Choose a Travel Insurance?

  • Coverage Limit – Eg: 50,000$, 100,000$ etc.,
  • Medical Coverage
  • Loss of Passport / Baggage coverage
  • Trip cancellation coverage
  • Trip Delay
  • Hospital Cash
  • Personal Accident cover
  • Adventure Sports inclusions / exclusions
  • Emergency Medical Evacuation
  • Repatriation of remains
  • No matter the insurance you may want to purchase, you MUST always read through the policy wordings. You MUST read the inclusions and general exclusions in particular. For eg. A travel insurance may not cover adventure sports. What’s the point in purchasing such a product if you wanted to go on an adventure trip?
  • A travel insurance is ideally the one you should never end up using. However, it is prudent to read and understand the procedure, documentation and the timelines to notify any mishap so as to claim for the loss.

Important Exclusions to be aware of!

  • Most policies DO NOT cover Medical and Hospitalization arising out of existing conditions
  • Treatment/loss arising out of alcoholic or drug influence
  • Sexually Transmitted Diseases
  • Traveling against the advice of a Physician or Medical Practitioner
  • Self-inflicted injury, Suicide and Attempted Suicide

The exclusions quoted above are just a few to name. Do read the Policy wording or contract of any insurance you may opt for!

www.policybazaar.com is an insurance market place in India for you to browse and purchase various insurance products.

“Promotravelling” isn’t just about traveling on a budget saving your bucks on transportation and accommodation. Rather, being a prudent traveler than just a frugal traveler. Safety First, Adventure Next!

Travel Insurance – A Must or a Waste ?  Don’t let your luck favor!

I like to use and prefer World Nomads Travel Insurance primarily due to adventure sports inclusion.

Note: A purchase through my links helps me to keep afloat and supports the website. Please do comment if you have any suggestions or travel insurance episodes and questions, if any!

1 Comment Travel Insurance – A Must or a Waste?

  1. Arpan January 29, 2017 at 2:34 pm

    sir, World Nomads doesn’t provide insurance for Indians. any other options?

    Reply

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