Why Travel Insurance Continues To Remain Important In The Post COVID World

Whether you are a busy business traveller, a solo globe trotter or a family vacation enthusiast, we’re sure we can all agree that travelling is exhilarating.

However, like all things whether spontaneous or planned, the journey can be filled with unexpected challenges and situations (irrespective of the destination being domestic or abroad).  Your important documents can get stolen; you may miss your flights or worst comes to worst you can get injured. Therefore, it becomes imperative to have a good reliable travel insurance policy in order to address such situations proactively.

As the above cases show us, the need for travel insurance is not something new, but the COVID 19 pandemic has shown us how unexpected many situations can be and how important it is to be better prepared to mitigate the losses as much as possible.

Broadly we can classify the insurance coverage into the following categories:

Unforeseen Medical Emergency

•  Medical emergencies ranging from cuts or bruises, concussions to much severe issues can cost you a fortune when you are on foreign soil.
• Having a travel insurance with emergency medical benefits, can pay for losses due to ‘covered’ medical emergencies that occur during your trip. Emergency medical transportation benefits can pay for medically necessary transportation to the nearest appropriate medical facility, as well as the cost of getting you home following a covered injury or illness.

Luggage Protection

• Travel insurance provides cover against loss or theft of your baggage and passport. Some insurers also help to make arrangements for a temporary passport.

Trip Insurance

• Travel delay benefits can reimburse you for additional accommodation/travel expenses and lost prepaid expenses due to a covered departure delay of ‘specified’ hours (the duration vary as per policy).
• Trip delays owing to bad weather which in turn could lead to a missed flight connection or unutilised hotel reservation can also be tackled through this.
• Trip cancellation or delay due to sickness, injury or death in the family that result in a financial loss is typically covered by this policy.
• Emergency evacuation expenses, due to a natural calamity or terrorist activities, including the return flights home, are also covered.

Coverage for personal liability

• Some travel insurance plans also offer a benefit called ‘Personal Liability’ wherein the insurance company will cover the expenses for third-party damages, as there may be an emergency which might involve a damage being inflicted to a third party – person or property – wherein expenses for the same would have to be borne by the insured.

Given that traveling has become riskier due to COVID 19, here are some reasons why it is important to have a travel insurance to mitigate the above losses in the current and post COVID world-

Reason 1: The lingering risk of Corona Virus infection or any other disease:

If the pandemic declared by WHO has taught us anything, it is that we all are living in a world where anything is possible, as this is not the first time the organisation has issued a public health emergency. In fact, there have been many deadly viruses in the past. But that doesn’t mean you lose hope on travel. It is ok to travel, for work or for leisure with necessary precautions. But in all cases, it is important to have travel insurance that covers COVID.
Note: All travel insurances may not cover COVID.

Despite the risk we are sure our spirits need the extra boost of freedom, happiness and beautiful sights for the sore eyes, so fret not my dear readers because travel plans can still be saved through a travel insurance that protects you against such medical emergencies.

Reason 2: Airlines services will not be stable

Airlines are trying very hard across the globe to keep their systems operational, but besides the health guidelines there are other issues which might result in airline schedules going for a toss, multiple cancellations, re-scheduling which will thereby increase the risk of baggage loss, thus creating strong need for everyone to buy travel insurance online before flying anywhere out of the country.

Given that a trip post COVID will be to raise spirits, let’s not put a damper on them through the possibility of the above occurring, lets protect our mental peace!

Reason 3: Possibility of Trip extension

In a situation where you might have to extend your trip like due to lockdown in the country you have travelled to, or you plan on taking an extended break etc, if you go over your policy limit by even a day then it won’t be valid and so it becomes important for the travellers to pay attention to the durance of coverage. In some cases, policies taken on an annual basis limit the number of day you can travel (which will be covered) and this should also be kept in mind while choosing the correct travel insurance.

Here is a list of companies in India which cover your various needs when it comes to travel insurance. However, all policies are different, therefore, we urge you to first understand their coverage and then select as per your need.

TATA AIG, Bajaj Allianz, HDFC Ergo Health, Reliance, Bharti AXA Travel Insurance, Future Generali Travel Insurance, IFFCO Tokio Travel Insurance, SBI Travel Insurance, Reliance Travel Insurance etc.

Do not let it come to fight and flight. Plan your travels in advance and let nothing come between you and your travelling dreams.