Travel Insurance Primers

Different overseas travel insurance covers

Friday 11 January 2008

The overseas travel insurance policy provides cover for the risk a person may confront on a trip abroad. These details could vary by company and some policies may not provide cover for ALL the contingencies mentioned here. Typically though, a travel insurance policy provides cover for the following contingencies:

Medical Expense

Loss of Personal Possessions

Time-Based Contingencies

Unforeseen Event Contingencies

Medical Expense

Cash-free cover for medical expenses and dental treatment - If you fall sick on a trip abroad, the policy provides cash-free facility, which is subject to a minimum amount of expense. The insurance company also provides for dental treatment if you undergo any acute anesthetic treatment of teeth due to an injury.

Daily allowance in case of hospitalization - If you are hospitalized for more than two days, the insurer provides a daily hospitalization allowance.

Medical evacuation/repatriation - If, due to a medical emergency, the circumstances prevent you from being treated for the illness or condition abroad, the policy covers the cost of bringing you back to a hospital in your native place.

Compassionate visit - If you have to remain hospitalized for more than seven consecutive days, the insurance company provides the cover to reimburse the return fare for an immediate family member to visit you abroad.

Personal accident - The insurance company pays a compensation if you get permanently disabled or lose your life abroad due to an accident.

Transportation of mortal remains - If you pass away while abroad, the insurer covers the cost of transporting your mortal remains back home / the burial costs abroad.

Loss of Personal Possessions

Delay of checked-in baggage - If your baggage is delayed beyond 12 hours, it covers the cost of emergency purchase of replacement items.

Total loss of checked-in baggage - If your checked-in baggage is lost in the custody of the air-carrier, the policy reimburses the total loss of the baggage (excluding jewelry, cash etc.)

Loss of passport - If you lose your passport abroad, the insurer reimburses the necessary expenses in the process of obtaining a duplicate passport.

Time-Based Contingencies

Trip delay - If your trip is delayed for more than 12 hours due to problems at the airline, medical problems, personal employment problems, or natural disasters, the insurance company reimburses you for additional expenses incurred.

Trip cancellation or interruption - In case your trip is canceled or interrupted due to any medical emergency, personal employment problems, or natural disasters, the insurance company takes care of any non-refundable prepaid payments or additional expenses.

Missed connection - If you miss your connecting flight due to a delay in arrival by more than three hours, the insurance company provides compensation for all the additional expenses incurred.

Unforeseen Event Contingencies

Personal liability - While abroad, if you were to involuntarily cause death, injury, or damage to health or property, the insurance company offers cover for any liability/damages paid to a third party.

Financial emergency assistance - The insurance company makes emergency cash available to you if you lose any funds due to a theft or robbery while abroad.

Hijack distress allowance - If the carrier in which you are traveling in for more than 12 hours is hijacked, the insurance company pays a special distress allowance.

Home burglary insurance - The insurer covers the contents of your home in India against theft and burglary, while you are on a trip abroad.

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