Is Travel Insurance a Waste of Money?

Travelling is a favourite pursuit for many people in India. However, there are many travellers who travel regularly without buying a travel insurance policy. Due to general ignorance or being unaware, many regular travellers falsely believe that travel insurance is a ‘waste of money’. The fact is that such false beliefs held by some travellers makes them vulnerable to unforeseen dangerous situations while travelling.

Therefore, it is essential to know why a travel insurance policy is not at all a waste of money and is actually replete with several advantages and benefits. The most notable advantages are as follows:

Provides coverage for luggage losses

One of the most common dangers faced by travellers is the loss of luggage while travelling. For an uninsured traveller, such incidents can jeopardize travel plans and inflict huge financial losses.

However if one avails the best travel insurance in India, one can get full reimbursement for such losses without much delay. However, any coverage for luxury items is generally excluded by most travel insurance plans.

Offers a helping hand during medical emergencies

There are many favourite tourist hotspots where medical expenses are either too high or lack basic infrastructure. Suddenly falling sick in such places can potentially be life-threatening.

In such a scenario, an uninsured traveller will have no option except utilising his lifelong savings for emergencies.

But if one avails a travel insurance, one can get full reimbursement. Some of the best travel insurance plans include evacuation costs, hospitalization expenses, air ambulance services etc.

Compensates for trip cancellations and delays

Bad weather conditions, a sudden outbreak of mass violence at the destination or flight delays can not just lead to trip cancellations but also inflict huge financial losses on an uninsured traveller. But if one avails a travel insurance policy, one can get full compensation for such losses.
It is especially helpful in exigencies. Many travel insurance policies also cover expenditures for hotel overstays during such adverse situations.

Minimises losses caused due to credit/debit card losses and frauds
Credit cards and debit cards are universally used by travellers for payments, purchases and online bookings of flight and rail tickets. Losing a credit card or debit card while travelling can jeopardize travel plans and can cause immense worries.

However, having a travel insurance policy enables the traveller to obtain a duplicate credit card or debit card in no time. Additionally, some of the best travel insurance plans monetarily compensate the losses caused due to credit/debit card frauds.

Acts as a saviour during personal accidents and injuries

Travelling is quite risky and accidents are quite probable. One might get serious injuries or meet with a personal accident while travelling. Serious injuries can often lead to major disabilities. In such a gloomy situation, travel insurance plans act as a saviour by paying a major compensation to your family members for a specified period of time.
In case a traveller, unfortunately, loses his life due to accidents, travel insurance will pay a lump sum to his family members and heirs for a stipulated time-period.

Evacuations during natural calamities, riots and civil disturbances
There are numerous popular tourist destinations across the world which, though thronged by tourists every year, are quite volatile and are prone to civil disturbances and natural disasters. In such grim situations, travellers might just get stuck and would urgently require evacuation.

Availing travel insurance can actually make a difference between life and death for travellers at that time, because it helps to facilitate quick emergency evacuations before such situations worsen.

Travel insurance is no longer a luxury product, it has become a necessity now and if you’re a regular traveller, it is imperative to avail travel insurance. It is very easy to avail travel insurance online. It is not a waste of money, in fact, it can actually save money, lives and help in dire situations.

You can also buy Pocket Insurance by Bajaj Finserv that has many affordable travel insurance plans. If you are looking for a travel insurance policy in India at an affordable premium rate, you can avail a Holiday Cover, Trek Cover, Road Trip etc according to your specific need. As a part of this plan, a traveller can opt for a wide variety of services ranging from emergency travel assistance, home burglary insurance, accidental damage, theft of luggage and many more such benefits.


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