A travel insurance policy covers you in case of unforeseen circumstances but here’s what you need to know about these policies

It is exam time now, and soon it will be time for holidays. And as temperatures soar, many of you may go to cooler climes abroad for a vacation. Of course, you have a checklist to make sure your holidays are memorable but that checklist is not complete without travel insurance. A travel insurance policy covers you in case of unforeseen circumstances such as medical emergencies, flight delays and baggage losses. Here is what you must know about these policies.

The cover

A large part of the standard travel insurance policy is about covering health insurance and personal accidents . A typical overseas travel policy would cover emergency hospitalization and pay compensation against accidental injuries. Other than these, it also covers flight inconveniences and pays a predefined compensation against events such as trip delays, cancellations, baggage loss and loss of passport. It also gives you third-party covers to insure you against damage to life or property caused to other persons.

For those planning to study abroad, a travel insurance policy would also include student-specific covers. Study interruption cover is one that pays for tuition fees in case studies are interrupted by a medical emergency. A sponsor protection cover pays the remaining fees in case of death or permanent disablement of the sponsor. A compassionate visit cover pays for the return ticket and boarding of a family member if the student is hospitalized. Student travel insurance covers are typically available for a maximum of 2 years and can be renewed, whereas other travel insurance covers for leisure travellers are available up to 180 days as single trip cover and can be extended by another 180 days. you can also take an annual multi-trip covers, in which you can travel between India and a foreign country for a maximum of 30-45 days per trip.

Exclusions

Like any regular health policy, travel insurance does not cover you for any pre-existing conditions. But some insurers may cover pre-existing ailments in case the ailment is life threatening. However, the policy will not cover you if you are going for treatment abroad or are going without the consent of a physician.

In other covers, look for deductibles. For instance, in some policies, a delay is covered only if it is more than the prescribed limit. You also need to look at the geographical coverage of the policy.