A travel insurance compensates you or pays for any financial liabilities arising out of medical and non-medical emergencies during your travel abroad or within the country.
There are two types of Travel Insurance.
Single Trip Policy
It covers you during a trip that lasts under 180 days.
Annual Multi Trip
It covers you for several trips you take within a year.
What does insurance not cover?
Your policy may not cover liabilities in certain situations. These are known as exclusions.
Let’s have a look at a few of them.
| Travel | – Travelling against the advice of the physician – Baggage delay for less than 24 hours – Psychological illness or self-inflicted injuries during your trip – War or civil unrest in international locations – Participation in hazardous sports like bungee jumping, parachuting, etc. |
How much does insurance cost?
Your insurance costs depend on your premium amount. This premium amount depends on several factors that differ from insurance to insurance. Here’s a look:
- The sum assured
- The type of coverage/plan
- Age
- Your health
- The location of travel