Small-Ticket Travel Insurance Policy: Should You Opt For It?

Small-Ticket Travel Insurance Policy: Should You Opt For It?

In a survey, the UN World Tourism Organization (UNWTO) predicted that 50 million foreign travellers would travel to India by 2023. Only 8 million Indians were visiting abroad a decade ago. Even while travelling is enjoyable, it can be difficult if it is not carefully planned. Before vacation, we arrange for lodging, transportation, and food, but most forget about insurance. They also have several travel insurance benefits.

Overseas travel Insurance covers all expenses, including medical bills, trip cancellation or delays, and more, to ensure that unforeseen circumstances do not ruin your trip.

According to experts, just a fraction of Indians has travel insurance in India, making it an underserved market in India. This is primarily evident since disasters abroad are expensive and inconvenient. According to industry experts, insurance is a requirement, and those travelling abroad should consider it, especially when the losses can mount up to be out of reach. A foreign country’s evacuation in the event of any illnesses or mishaps would cost thousands of US dollars.

The Policy’s Exclusions

The insurance won’t cover pre-existing conditions. You won’t be covered for any medical issues you had before the departure date.

This policy’s age eligibility ranges from one year to seventy years old. No one under one-year-old or older than 70 will be permitted to purchase this travel insurance.

The coverage will be cancelled if you have any accidents due to engaging in risky sports and activities. Risky sports and activities include aviation, scuba diving, bungee jumping, parachuting, racing, diving, rock climbing, parasailing, hang gliding, off-piste skiing, and naval, military, or air force operations.

For each claim involving medical, dental, baggage loss or delay, loss of personal papers, or personal liability, policyholders must also pay a small deductible out-of-pocket. Accidents that occur while under the influence of alcohol or hallucinogens are not covered.

Personal property loss or damage in the event of theft is not covered.

These insurance plans are specially designed with millennials in mind. These plans are a good place to start for first-time purchasers or those without insurance. Before choosing a full-fledged cover, one can become familiar with a product by purchasing small-ticket insurance coverage. Make sure you do a comparison of travel insurance before buying one.

The decision to opt for a small-ticket travel insurance policy depends on various factors such as the nature of your trip, your risk tolerance, and your specific insurance needs. While these policies may offer limited coverage compared to their more comprehensive counterparts, they can be a cost-effective solution for certain travelers, especially those embarking on short and relatively low-risk journeys. It’s essential to carefully assess your travel plans and weigh the benefits and limitations of a small-ticket policy to determine if it aligns with your requirements for financial protection and peace of mind during your travels. Ultimately, making an informed choice about travel insurance is a prudent step in ensuring a worry-free travel experience.

Standard T&C Apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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