Most Indian travelers skip travel insurance to save a few hundred rupees. This is a mistake that can cost lakhs. Here's why you need it and how to choose the right plan.
What Does Travel Insurance Cover?
Cost of Travel Insurance
- Domestic (7 days): Rs. 200-500
- Asia (7 days): Rs. 500-1,500
- Europe (10 days): Rs. 1,000-3,000 (Schengen requires it!)
- USA (15 days): Rs. 2,000-5,000
- Annual multi-trip: Rs. 3,000-10,000
When It's ESSENTIAL
- Schengen visa: Travel insurance is MANDATORY — you can't even get the visa without it
- USA trips: A hospital visit in the US can cost $5,000-50,000. Insurance is critical.
- Adventure trips: Trekking, skiing, diving — standard health insurance won't cover you
- Expensive bookings: If your trip costs Rs. 1 lakh+, trip cancellation coverage is worth it
What's NOT Covered
- Pre-existing conditions: Most plans exclude these unless declared
- Extreme sports: Standard plans don't cover bungee jumping, paragliding, etc. (buy adventure add-on)
- Alcohol-related incidents: Injuries under influence of alcohol are excluded
- War zones/high-risk areas: Travel advisories affect coverage
- Missed flights due to negligence: Arriving late to the airport = not covered
Top Insurers for Indian Travelers
- ICICI Lombard: Great for international, fast claims
- HDFC Ergo: Good domestic + international plans
- Bajaj Allianz: Affordable plans, good network
- TATA AIG: Comprehensive coverage, adventure sports options
- Digit Insurance: Easy digital claims, transparent
How to Claim
- Document everything — keep receipts, photos, police reports (for theft/loss)
- Notify the insurance company within 24-48 hours
- For medical: use cashless network hospitals where possible
- Submit claim form + documents online or via the insurer's app
- Most claims are processed in 7-15 working days