Travelling is an experience every human being yearns for. It lets you rejuvenate yourself and explore new and unique experiences. Moreover, there can be several reasons for travelling, from a pleasurable vacation to an important business trip. Everyone can have their reasons for travelling.
But while planning for your trip, one of the things you may forget is buying travel insurance. It keeps you financially safe and protects you in the worst of times. So, in this blog, we will show you the importance of travel insurance for a global traveller.
Is Travel Insurance Compulsory?
Every country has rules regarding travel insurance and whether it should be mandatory for tourists visiting it. For example, in some countries, like the USA or Thailand, an Indian will be allowed entry without travel insurance. Whereas, in other places like the Schengen regions, individuals can get a visa only if they have valid travel insurance. Thus, whether travel insurance is compulsory for Indian travellers varies from country to country.
Importance of Travel Insurance for Global Travellers
Following is a list of reasons why travel insurance is an essential component for global travellers:
1. Cancellation of Trip
Travel plans may be disturbed by the insurance holder’s hospitalisation. In such cases, travel insurance reimburses non-refundable charges, guaranteeing that passengers do not experience financial losses due to unforeseen cancellations or delays. However, the minimum hospitalisation day requirement to file a claim for trip cancellation can be limited.
2. Medical Emergencies
Healthcare costs vary across countries and are incredibly high in many places. For example, you can expect healthcare costs to be relatively high in Schengen countries or the USA. For such reasons, to visit these international countries, you need travel insurance. In the case of Schengen countries, it is compulsory to have an insurance plan of a minimum €30,000. Such policies can cover the cost of medical treatment, surgeries, hospitalisation, medicines, and evacuation. It ensures that both your health and finances are secure.
3. Peace of Mind for Stress-Free Travel
Travel insurance guarantees tourists to visit new places without worrying about unexpected financial losses. It makes international travel safer, easier, and more enjoyable by providing assistance and financial stability. You can easily get an online claim settlement in a few days and you also do not have to pay any charges while filing for the claims.
4. Coverage for Adventure and Sports Activities
While you are on your trip, you can indulge yourself in different adventure sports. Your travel insurance plan covers accidents and emergency rescues for tourists participating in adventure sports like trekking, scuba diving, or skiing.
How Much Coverage Should Your Insurance Plan Provide?
Though the extent of coverage you can get from travel insurance is vast, you need to remember that you will buy insurance primarily to cover medical costs. Therefore, while deciding the coverage amount, you need to consider the medical costs in the country you are travelling to. Furthermore, you must consider the cost of the flight tickets, the cost of the items in your luggage, and the accommodation costs, as well as your budget to decide the suitable coverage amount.
Which Type of Travel Insurance Should You Buy?
The most important thing to consider while purchasing a travel policy is your travel frequency. If you are a frequent flyer, you can buy multi-trip travel insurance. It will cover all the trips you undertake within a specified period. For example, with an annual multi-trip insurance plan, you can cover all your foreign trips in a year. However, if you travel just once, you can buy a single-trip travel insurance plan. It will cover you only for a specific trip.
Another thing you need to remember is that the terms and conditions of travel insurance can vary based on the country you are travelling to and the duration of your tour. The right thing to do is to compare different insurance plans and see which has the best terms and conditions to meet your needs.
Bottom Line
Overall, you should not think of travel as merely an optional choice, think of it as a necessity. A proper travel insurance can keep you financially secure in a variety of situations. Even when you are in a foreign land, it will ensure you get access to world-class treatment, plus you will be financially safe. Nonetheless, you must make the effort to go through the terms and conditions of travel insurance policies to decide which is best for you.
Disclaimer:
CBD:
Qrius does not provide medical advice.
The Narcotic Drugs and Psychotropic Substances Act, 1985 (NDPS Act) outlaws the recreational use of cannabis products in India. CBD oil, manufactured under a license issued by the Drugs and Cosmetics Act, 1940, can be legally used in India for medicinal purposes only with a prescription, subject to specific conditions. Kindly refer to the legalities here.
The information on this website is for informational purposes only and is not a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or another qualified health provider with any questions regarding a medical condition or treatment. Never disregard professional medical advice or delay seeking it because of something you have read on this website.
Gambling:
As per the Public Gambling Act of 1867, all Indian states, except Goa, Daman, and Sikkim, prohibit gambling. Land-based casinos are legalized in Goa and Daman under the Goa, Daman and Diu Public Gambling Act 1976. In Sikkim, land-based casinos, online gambling, and e-gaming (games of chance) are legalized under the Sikkim Online Gaming (Regulation) Rules 2009. Only some Indian states have legalized online/regular lotteries, subject to state laws. Refer to the legalities here. Horse racing and betting on horse racing, including online betting, is permitted only in licensed premises in select states. Refer to the 1996 Supreme Court judgment for more information.
This article does not endorse or express the views of Qrius and/or its staff.
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