Being avid travellers, we often get this question (apart from how to manage travel and a full-time job) from some of our readers regarding travel insurance. Whether to take it or to leave it – this happens to be the big question. Whether or not to spend on travel insurance is confusing, yet an important part of any travel adventure. Is it worth the expense to buy the insurance? Well, whether or not you would opt for travel insurance definitely depends on the destination you are travelling to as well as the duration of your trip.

If you are going for an international vacation, then you should opt for an International Travel Insurance, because, there are a number of factors that come into picture when you are away from your home country. Read on to know more.

So, what are the types of Travel Insurance?

There is enough number of terms and phrases to confuse us. Travel insurance can be broadly divided into two types – basic vacation plans and comprehensive travel plans.

Basic Vacation Plans are the most common ones, the one that you actually think of when taking a holiday. It mainly includes all the trip cancellation insurance, baggage/property loss insurance, loss and delays, assistance, some medical emergencies and some more. These are usually covered under most of the travel insurance plans which is an apt choice if you are going for an international vacation.

Comprehensive Travel Plans

This is a comprehensive coverage for travelling abroad. It includes all of the regular ones along with any expenses related to medical emergencies, disaster evacuation. A few plans also provide life insurance due to accidental death. If you have long-term travel plans abroad, this is the plan that you must opt for.

Travelling Frequently to international destinations? What should you do?

If travelling is a routine affair for you, then you should go for Multi Trip Travel Insurance, which covers you for multiple trips in a year. So what are the advantages of availing such an insurance plan?

Buy a multi-trip plan to save money

You might be stark rich or you can afford to travel frequently across the world at any cost (be it for business or leisure), saving money always helps. A multi-trip plan can cover all your planned and unplanned trips while paying a much lesser premium than buying 3 or 4 separate single trip plans. The plan would cover you from the day you start the trip to the next 365 days, irrespective of any trips that are planned in-between. So basically, you can enjoy any number of trips during the tenure of the policy.

These policies definitely provide assistance to business travellers. There are so many things that can go wrong during the trip like flight delay, loss of baggage and documents. This might cause a big dent in your pocket. A multi-trip plan is designed in a way that it covers all the necessities of a business traveller. It covers you financially even during an instant trip.

The Million-dollar question: Should I opt for Travel Insurance?

Just like travel and vacation choices are entirely personal, whether or not you want insurance is also your personal choice. What we can advise you is that think of your vacation as an investment. For all domestic trips, we do not usually go for insurance.

Our Opinion: When you don’t need travel insurance

You can easily skip insurance for short duration trips and domestic trips.

Skip it just for flexibility. Don’t get an insurance just to take into consideration your flight delays. There is no point in getting a comprehensive plan just for this.

When Travel Insurance is needed

• It is needed when you are travelling abroad. This is the time when you need travel insurance while we further elaborate on the whys.
• It is needed so that you are not a burden on your family and friends when you are abroad. The medical cost in some countries can be equal to your several months of salary and you might not be able to return home unless your medical bills are cleared. And if that involves your family selling their house and covering your bills, it will be so.
• Some countries like Cuba, Thailand, or Schengen region require you to have travel insurance as a mandate.
• You can travel stress-free while on your international trip.

A simple guide to buying a travel insurance

Travel insurance is needed for international trips. These vacations are longer and if you are planning much in advance, it makes sense to invest in insurance.

A comprehensive package is also a must for medical reasons also. Enjoying an adventure of a lifetime is thrilling enough, but if something goes wrong in a faraway land, then medical help may be difficult to get or may be quite expensive. This is where medical travel insurance can come in handy. But please remember that medical coverage does not always count in medical evacuation or emergency evacuation. So if you want to get a comprehensive travel insurance, make sure that the policy covers emergency evacuation and care along with medical coverage.

As they say in all the financial advertisements, insurance also needs to be checked carefully. So before you decide to get it, read the documents and know what is covered under the travel insurance plan.

Things to look for in a good Travel Insurance

• It covers most of the countries in the world.
• 24/7 emergency service and help. You would not like to be said to call back later while in middle of a crisis.
• Cover cancellations such as hotel bookings, flight, and other transportation bookings if you have a sudden illness, mishap in the family or some other emergency.
• Cover lost, damaged and stolen possessions like baggage, cameras, electronics, documents etc. Double check on the coverage for electronics.
• Cover emergency and problems in the visited country, in case you have to return earlier.
• Cover injury and sudden illness.

A few things are not usually covered by insurance

• Cash
• Accidents sustained while participating in extreme adventure sports
• Pre-existing medical conditions and general medical check-ups
• Alcohol or drug-related incidents
• Carelessness in handling your possessions.

No one would like any untoward incident during the time of vacation. A theft or an illness is not something that we anticipate while travelling. But these threats are real and it is better to remain prepared while travelling away from your home country. When we insure our car and other valuables, why not insure our travel?