General Insurance

Travel Insurance

Why Do You Need It?

Traveling has become an integral part of our modern society. We could be traveling for reasons like a business trip or much awaited vacation. But one cannot deny the fact that there are several things that could go wrong when one travels. Disruptions like cancellation of flights, loss of baggage, medical emergency- are some of the unforeseen events that could catch you off guard. So whether you are off to your favorite destination for a holiday or going on a business trip - an adequate & complete travel insurance is a must have.

Types of Travel Insurance

Various plans are available according to every individual's travel needs

1) Corporate Travel Insurance

Under this plan, employees of an organization can receive coverage for both domestic and international trips.

2) Domestic Travel Insurance

In this type, coverage is offered for death, medical emergencies, permanent disability, personal liability, delays, and lost/theft of checked-in luggage.

3) International Travel Insurance

It gives a comprehensive coverage for medical costs overseas, trip delays, loss of travel documents besides the regular coverage.

4) Senior Citizen Travel Insurance

This plan covers people in the age group 61-70 years. Besides providing general advantages, it also gives cashless hospitalization coverage and dental treatments.

5) Student Travel Insurance

This comprehensive cover is suitable for expenses incurred because of medical treatment, study interruptions and passport loss.

6) Individual Travel Insurance

Under individual travel plan, insured is covered against trip curtailment, trip cancellation and theft

7) Family Travel Insurance

It covers baggage loss, hospitalization expenses and other incidental costs. The claim disbursement is not difficult with less paperwork involved.

8) Multi Trip Insurance

This type of travel insurance is offered to frequent travelers so that they don’t have to apply for insurance every-time they travel.

9)Single Trip Insurance

As the name suggest, this type of cover is provided only for the duration of the trip. It also covers medical & non-medical emergencies along with baggage loss situations.

Key Features of Travel Insurance

1) Coverage offered for medical expenses.

2) Coverage for expenses related to trip delays

3) Coverage for loss of passport and luggage

4) For contingencies related to personal possession

Benefits of Travel Insurance

The basic worries of travellers include stolen baggage, lost passports, cancelled flights and trip delays. These mishaps can spoil perfectly planned vacations. Do not let such incidences ruin the entire journey.

Exclusions

1)Pre-existing conditions resulting to hospitalization

2)Damage or loss of keys

3)Trains or flights missed because of civil war/local protests

4)Luggage delay Expenses incurred because of civil unrest or local protests Customers should note that exclusions vary from one policy to policy.

FAQs Travel Insurance

What are the eligibility criteria for Travel Insurance?

From infants aged 6 months onwards can avail of travel insurance

Are there any medical examinations involved?

No, there is no medical examination required upto the age of 70 years.

Is travel Insurance mandatory?

Travel Insurance is not mandatory in India. However it is mandatory in UK and countries like Austria, Greece, Portugal, Spain, France, Germany, belgium, Luxembourg, Netherlands.

However for a safe and peaceful trip, it is recommended that you take a Travel insurance policy even if you are travelling to countries apart from these.

Is passport loss covered in the travel insurance policy?

Yes, passport loss is covered in the policy. It is covered under the benefit of loss of Baggage and Personal Documents. The assistance provider helps in contacting the consular authorities in case of the loss or theft of an Insured Personal's passport, and arranging for its replacement.

What does loss of checked in baggage cover ?

This covers the insured person for the amount spent as cost of replacement of articles if checked in baggage is lost or demaged. The insured must keep the bills of such expenses for reimbursement

How much cover do I need?

Depends on the duration and your age. Longer stay abroad needs higher cover. Higher age would also demand a higher cover.

Key Features of Motor Insurance

1) Policy protection against loss or damage to the covered vehicle

2) Coverage against financial liability caused due to injury or death of a third party or damage to the property.

3) Personal Accident Coverage.

4) Motor Insurance protects you for the below mentioned damages, should they occur:-

Types of Motor Insurance

1)Car Insurance

This insurance gives coverage against accidental damage or losses to the holder’s vehicle or third party. The amount of premium depends upon the make of the car, manufacturing year, value & state of registration.

2)Two Wheeler Insurance

This type of insurance is for scooters, bikes & features are similar to that of four-wheeler insurance.

3) Comprehensive Coverage

This type of coverage offers complete package policy wherein any damages to the vehicle will be covered up to the Insured Declared Value. Any third party property damage or third party injury/death can be covered. Policyholders feel less stressful as it gives end-to-end coverage.

4) Third Party Liability Coverage

Under the Motor Vehicles Act, third party liability coverage is legally mandatory. This type of motor insurance offers coverage against all legal liabilities to a third party caused when insured vehicle owner is at-fault. It insures injury/damage caused by policyholder to third person/property

5) Collision Coverage

It financially protects the policyholder against damage of insured’s own car. Collision coverage pays the policyholder for damage caused because collision which generally occurs due to an accident.

Add-On Riders

Add-on riders doesn't take the depreciation value of the parts & allows you to receive the entire claim amount. It is generally available for cars under five years & allows eligibility to claim full amount for replacing/changing any damaged parts of your vehicle.

Exclusions from Motor Insurance

1) General ageing, wear and tear

2) Damage by a person driving without a valid driving license

3) Mechanical or electrical breakdown, failure

4) Damage by a person driving under the influence of Liquor/Alcohol/Drugs

5) Depreciation, any consequential loss

6) Loss /Damage attributable to War /Mutiny /Nuclear risks

7) Damage to tyres and tubes are excluded unless the vehicle is damaged at the same time. In such circumstance, the liability of the company shall be limited to 50% of the cost which includes replacement Loss /Damage

Important points to remember in the event of an accident

These documents must always be in your vehicle:-

1) Copy of policy/cover note

2) Car Registration Copy (RC Book)

3) Driving License Copy

To Initiate The Claim Process

1) Get in touch with the contact centre & inquire for the network garage nearby. And in case, should you visit a non-networked garage, the bills will be settled after ascertaining the damages caused.

2) FIR may be asked by the Insurer based on the claim estimation.

Benefits of Group Personal Accident:

Since it is a tailor made policy, we may alter any benefits before signing the proposal

• Accidental Death @100% Sum Insured
• Permanent Total Disablement @125% of Sum Insured
• Permanent Partial Disablement (as per PPD Table of benefits)
• Temporary Total Disablement - Weekly compensation lower of 1% of sum insured or Rs.5000 eligible maximum up to 100 weeks
• Education Benefit up to Rs.5,000/- per child
• Accidental Hospitalization – No sub-limits on any expense and room rent restrictions. *
• Ambulance Charges up to Rs.1,000/-
• Cashless Card for Accidental Hospitalization