Travel Insurance & Covid-19: Expert answers to your questions

For many disappointed people, the Covid-19 pandemic raging across the world has seriously impacted travel plans. Whether it’s travel for business or a long-awaited vacation, a weekend getaway, or attending an important family event, the outbreak has paid to many a journey. We will know about “Travel insurance & COVID-19.”

The travel and hospitality industries have also been hit very hard. This one-of-a-kind humanitarian disaster has resulted in upwards of a 60% decline in arrivals of overseas tourists to India, millions of jobs lost, and humungous losses in foreign exchange.

This “black swan” event has brought travel insurance into sharp focus as people seek compensation for financial losses that might occur due to Covid-19 related medical expenses/hospitalization apart from the regular coverage against theft, baggage loss or delay, passport loss, or unforeseen emergencies/accidents in the course of travel.

What Is Travel Insurance?

This is a specially-designed insurance product that covers the policy-holder for unforeseen losses that they suffer while traveling internationally or domestically. It is not mandatory, but some countries such as Australia and the Schengen countries have made it compulsory.

Some credit card companies offer complimentary travel insurance on a generic basis. Some may provide coverage for a compassionate visit, emergency financial assistance, and bundle home-burglary insurance with travel insurance. The terms and conditions differ across different insurance companies.

Some may provide coverage for emergency dental treatment, compensation to a third party due to the policyholder’s involuntary actions, expenses incurred in transporting mortal remains home or towards burial abroad, distress allowance when the plane is hijacked for more than 12 hours.

Coverage

• Public liability
• Alternative transport/travel expenses
• Loss, theft, or damage to luggage, passports, travel documents
• Optional coverage available for high-risk sports, rental car damage
• Injuries or illnesses related expenses such as ambulance, doctor-visit, medicine, hospitalization, and emergency evacuation to home-country
• Cancellation fees lost deposits due to unforeseen circumstances, or advisory from the government to a particular destination.

Types of Travel Insurance

Same as health policy, travel policy is also divided into various types and every single type describes a particular situation and about particular service that you might know or maybe not. Travel insurance covers you in every possible situation during travel and also covers you for your every journey. Travel plans are designed, to cover every sector of people, who need to travel for their work. Travel insurance & Covid-19 both are can’t stay with each other, the travel industry was facing huge losses just because of Covid-19.

1. Domestic Travel Insurance – As we said, every type of travel insurance describes a particular situation. Domestic travel insurance will protect you financially as an individual and family too from unforeseen travel emergencies around all over India. It’ll cover you, medical coverage, loss of coverage, and also against accident cover.
2. International Travel Insurance – Want to explore the overseas, before flying to the foreign country you have to secure yourself with “International Travel Insurance”. International travel policy’s a wide range of coverage and it will make your way easy and comfortable, and this type of insurance has a lot of benefits. Like as, medical expenses, dental expenses, financial assistance in a foreign country, loss of baggage, flight delays, and many more.
3. Schengen Travel Insurance – It’s online overseas travel insurance, which covers your travel around 26 European countries that belong to the Schengen area namely. Some of the most common coverage provided by this insurance policy, like loss of passport, medical cover, personal liability, and accidental death.
4. Family Travel Insurance – If you are planning to explore and you are a family man, then you should opt the “family travel insurance”. With this plan you can cover yourself, your wife, and your dependent children; the sum insured is available for both individual and family floater basis. You can fly domestically and internationally.
5. Senior Citizen Travel Insurance – We always dreamt to explore the whole world and there is no age to live your dreams. It would be your retirement life when you start to explore the world and start to live some remarkable memories. But as we become old, we lose a lot of things and till this age, even our body does not support us. In such a situation having a health problem is quite normal and it would be a dramatic change if you can’t explore what you think and what you want to explore just because of a health issue. “Senior Citizen Travel Insurance” is only your support, through which you can live your dream in your 60s and 70s.
6. Student Travel Insurance – This is student-friendly travel insurance for students, who are studying abroad. It comes with 2 years of extended validity, besides basic coverage this plan has a lot of benefits.
7. Corporate Travel Insurance – Most people travel a lot because of their business propose and “Corporate Travel insurance” is taking care of these people. No one knows what is next coming to you and if you mostly travel through fly then it’s a matter of worry because we all know the risk. Corporate Travel Insurance covers for 1 year and this plan has its own benefits. Like as, loss of baggage, flight delays, medical expenses, and many more.
8. Group Travel Insurance – Most of us heard about “Group Health Policy”, same like as health some of the insurance company offers “Group Travel Insurance”. Most of the industry or officials tour offered by to their employee to explore the pilgrimage site or any other place and this industry or officials buy group travel insurance to cover the all.

Why should you buy travel insurance online?

Well, nothing is certain in life, and it is said that even the burnt buttermilk of milk is drunk, one thing from which we are all aware that as much as it creates passion in us, it is full of dangers. One small mistake and it could be turning the whole table, no one wants to live his all life in a wheelchair or like physically challenged. So, before doing research about the destination, do the research about an insurance policy.

• Cashless Treatment Facility – No one knows about his tomorrow and during travel because of any problem, there is a situation that you have to admit in hospital and just because of your insurance policy you will get treatment in any network hospital around the globe.
• Fulfills the Basic Needs – As per new norms, most of the countries come with a new law that if anyone applying for a visa then he should opt a right insurance policy, after that you will be able to find the visa. Travel insurance & Covid-19, is a part of a single coin, Covid-19 ruins everything and maybe that’s why every country comes with this kind of rule, and insurance is a basic need to explore overseas.
• Easier to Compare – Nowadays the internet plays a vital role in terms of getting knowledge and information about anything, today you can compare the policy of different companies and with help of comparison you will be able to find the best policy for you. When the internet was not a basic demand, at that time people have to do a lot of research before buying the best policy, but today you can easily compare the policy and you will choose the best one.
• No need for Insurance Agents – There was a different time when we used to go back and forth between agents for buying an insurance policy, in today’s time you need to avoid agents and need to come on the internet. You will find everything on the internet and with the help of the internet, you can easily buy the policy within 5 minutes. Contactless buying and instant policy purchases, not like before being digitalized. At that time buying a policy takes 3-5 days and after that, you’ll get an insurance number.
•  Minimal Documentation – There is a certain difference between offline and online, if you are buying a travel policy offline then you have filled in multiple documents and also you have to submit documents. But online you will fill in all your details on the online form and soon you will get the insurance number.

Covid-19 Related Travel Insurance FAQ’s

What travel insurance coverage can I get in Covid-related claims?

The admissibility of claims is purely based on your policy terms and conditions. You can claim for

• Overseas medical expenses
• Trip delay, cancellation, interruption
• Baggage loss/theft and delay of checked-in baggage
• Missed connecting flight
• Emergency extension of the hotel stay
• Bounced airline/hotel bookings
• Political risk
• Catastrophe evacuation
• Daily cash for hospitalization

Can I claim Covid-related hospitalization expenses?

Yes. In/Outpatient expenses are payable in the destination country/location.

Do I get coverage for the cancellation of a pre-scheduled trip due to hospitalization?

Yes, you can claim for losses due to cancellation/rescheduling of the trip as a result of hospitalization of insured/immediate family member.

Can I get coverage for delayed trips?

Yes, claims are payable for food/lodging if the trip is delayed due to Covid-related cancellation/rescheduling of flights done at the instance of the common carrier.

I hold health and travel insurance with the same insurance company. How are such claims handled?

This is applicable for medical in/outpatient expenses, trip cancellation/rescheduling/delay for any destination other than Indian. If the medical events happen while traveling in India, the health insurance policy comes into operation. If it happens abroad, the travel insurance claim is triggered.