Better Safe Than Sorry

Neeraj Gupta, CEO at Policybazaar.ae details why getting a comprehensive travel insurance should be on your checklist irrespective of whether it’s mandatory or not

Half the year has passed and 2022 has shaped up to be the year of change after the significant reduction in travel restrictions caused due to the pandemic. A key lesson learned during the pandemic is to take necessary precautions and ensure utmost safety. This is not just restricted to vaccine doses, wearing face masks, and using sanitisers, but buying a travel insurance policy is an utmost priority as well.

Before the pandemic, many people considered buying travel insurance because it was mandatory for a visa requirement to certain countries. So, just to comply with that formality, they bought travel insurance without even going into knowing the details of the policy and what exactly it would cover. However, the search and the need to move with more security and tranquility in the current scenario stands out more than ever before among travelers across the globe.

Especially after the pandemic, more travellers are receptive to purchasing travel insurance to mitigate potential financial losses in situations of a medical emergency, personal liabilities, or other emergencies like loss of baggage, passport, or other expensive items while at the airport or during trips to any foreign land. These behavioural changes have caused insurers to consider new formulas and products in order to cover all the needs of the customer. Moreover, it is recommended that travel insurance should be on the top of your checklist while planning a trip, irrespective of whether or not it’s mandatory. So, here is a sum-up of travel insurance insights that everyone must know.

Covid-19 coverage: While it is the pandemic that is prompting people to buy travel insurance, so travelers must make sure that they buy the insurance that covers Covid-19. Different insurance providers have different travel insurance policies covering Covid-19, so it is very important to read and understand the inclusions and exclusions carefully. The new Covid-inclusive insurance generally covers travellers from the day after purchase until their return home. During that period, if the traveller gets infected with the virus and falls sick and if a doctor determines he/she cannot travel, then trip cancellation and trip interruption benefits would rush in. The mandatory quarantine stay expenses for 7 to 14 days, including the cost of RT-PCR tests and necessary medicines, are covered under your travel insurance policy.

Duration of Insurance: As per the length and frequency of trips, there is a single-trip travel insurance plan that covers one specific trip for a specified number of days mentioned clearly in the policy. This starts from the date of departure till the date of return. On the other hand, a multi-trip travel insurance plan covers multiple trips taken within a period of one year from the date of commencement of the policy. This is a handy option for those who travel frequently for work or leisure. Not only is it convenient, but is cost-effective as well.

To sum up, if you are travelling abroad, it is imperative to buy travel insurance and double-check with the company what all they will cover in case something unfortunate happens.