5 Risks That Are Covered By Travel Insurance

With the holiday season approaching, many people plan their dream vacations, aiming to cover all bases. But even the best-planned trips can go awry. Several reports indicate that travellers often face medical emergencies, trip cancellations, or baggage loss during vacations. This is where travel insurance proves invaluable. It covers these risks, ensuring travellers are well-prepared for any eventuality. This article explores the five key risks travel insurance covers, making your domestic or international travels worry-free.

5 Travel Risks Covered by Travel Insurance

Travel insurance covers various unforeseen events that can disrupt your travel plans. Here are five key risks it covers:

1. Medical Emergencies

Sudden illness or injury during a trip can spoil your dream vacation, especially given the high costs of medical treatment abroad. For instance, the average hospital stay in the United States costs around Rs. 2,39,289 per day, while in India, it’s around Rs. 6,788 in a private hospital. 

However, travel insurance safeguards you from such expenses by providing coverage for emergency medical expenses, hospital stays, and, in some instances, medical evacuation back to your home country, if required.

2. Trip Cancellations and Interruptions

Trip cancellations and interruptions can lead to significant financial loss. Travel insurance provides coverage for these situations, reimbursing you for non-refundable trip costs. Common reasons for trip cancellations or interruptions include personal emergencies, natural disasters, or political unrest. For instance, if a family emergency forces you to cancel your trip, travel insurance can mitigate the impact by covering the prepaid costs, shielding you from financial loss.

3. Lost or Stolen Luggage

In 2022 alone, for every 1000 travellers who flew, an average of 7.6 bags were lost, indicating a significant probability of luggage loss while travelling. Losing your luggage can be extremely inconvenient and expensive, especially if it contains valuables or essentials. 

Fortunately, travel insurance often covers lost, stolen, or delayed baggage, helping you mitigate the inconvenience and financial impact. This coverage can include reimbursement for the lost items and compensation for essential purchases if your luggage is delayed for an extended period.

4. Travel Delays

Travel delays can significantly disrupt your plans, leading to missed connections and additional expenses for accommodation and meals. For instance, if your return flight from France to India is delayed or cancelled due to bad weather, you might need to book a hotel urgently, which can be costly. Travel insurance can cover these unexpected costs, providing financial relief and assistance during such disruptions.

5. Natural Disasters and Extreme Weather

Natural disasters like floods, storms, and earthquakes can pose significant risks to travellers. Travel insurance offers protection and assistance in these scenarios, covering costs associated with trip cancellations, interruptions, and even emergency evacuations. This coverage ensures that travellers are not left stranded or financially burdened by events beyond their control.

5 Things You Should Add to Your International Travel Checklist

Here are five essential things to include in your international travel checklist:

1. Research Your Destination

Before you travel, thoroughly research your destination. Understand the local customs, climate, and international travel process. Also, check the documents required for a visa for your destination country. This preparation helps you foresee potential challenges and ensures a smooth travel experience.

2. Verify Health and Safety Precautions

Check the health and safety precautions relevant to your destination. Ensure you are up-to-date on necessary vaccinations and understand the local healthcare facilities. This step is crucial for protecting your health while travelling.

3. Organise Important Documents

Keep all your travel documents, such as visas, passports, and insurance policies, organised and easily accessible. It’s also wise to store digital copies securely online in case of loss or theft.

4. Prepare Health and Emergency Kits

Pack a health kit with essential medications, first-aid supplies, and any personal medical items you may need. Also, carry an emergency kit that includes a flashlight, batteries, and a portable charger.

5. Purchase Comprehensive Travel Insurance

Since you now know why travel insurance is important for trips abroad, don’t forget to add travel insurance to your checklist. Make sure the policy includes coverage for trip cancellations, lost luggage, medical emergencies, and trip interruptions. This way, you can travel with peace of mind, knowing you’re financially protected.

Key Takeaways

Travelling comes with its share of risks, but being prepared can make all the difference. Travel insurance covers various unforeseen events that can impact your plans, from medical emergencies and trip cancellations to lost luggage. By adding travel insurance to your checklist, you can travel with peace of mind, knowing you are protected against unforeseen circumstances. Furthermore, you can ensure your travels are stress-free by using platforms like PhonePe to easily manage and purchase your travel insurance.