Travelling for business purposes or leisure, you will never want that the entire journey will turn into unforeseen incidents. Such incidents are unpredictable and can’t be controlled, like losing the passport or luggage, being in an accident, or getting sick during the trip.
That’s where travel insurance is an essential part of travelling, no matter if you are on an international trip or a domestic trip with a travel loan. Not only does it protect you from the risk of travel-related emergencies but also from incurring unforeseen medical expenses.
So, with this article, we are going to share with you some of those facts that show why travel insurance is important while travelling.
Need of Travel Loan in 2022
Well, there are many reasons why travelling insurance is important for a person.
- Support medical emergencies – No matter how good the planning is, there are sometimes when things go out of control while travelling. Cost of medical emergencies that didn’t budget for could lead to financial stress and results in the entire trip turning into nightmarish. However, travel insurance comes into play that covers medical emergencies on a cashless basis. Also, the cost of a healthcare facility can be expensive on foreign soil, as compared to India. So for these reasons travel insurance policy is crucial before going on a trip, as in case of life-threatening situations, you can also extend coverage to pre-existing ailments.
- Travel-related emergencies – One of the great benefits of going with travel insurance is that it covers various kinds of travel-related emergencies while you are on the trip. Some of these situations are cancelled or rescheduled flights that increase the cost of staying there. Also, there is a possibility that you have accidentally lost your passport, laptop, mobile phone, or luggage bag, which also leads to missing out on the flight connection. In such cases, travel insurance provides financial support that can cover all such exigencies. However, there are some companies like TripMoney that provide instant travelling loans that make it easy to bear extra expenses, but travelling insurance provides financial support.
- Personal liability – There are sometimes emergencies that might involve damage to a third party or property, which you have to bear as personal liability. In such cases, shelling out money from the pocket that might disturb the entire budget can prove to be very costly. That’s where travel insurance is vital and covers expenses related to any third-party damages. Some insurance companies also offer plans with a benefit called ‘Personal Liability’ that compensates for the cost associated with that damage.
- Lost luggage – This is an insurance benefit offered by a travel insurance company like TripMoney, where any loss of luggage and individual items can be reimbursed by the company. It is not uncommon that people generally lose their personal belongings during the trip. Instead of spending on sightseeing and other activities on the trip, you will spend on buying clothes, or other essential items, which can be a daunting task. So, to get out of these situations, having a travel insurance plan included in the trip is the best to go.
- Mandatory requirement – You might not be aware of the fact that there are some foreign countries where travel insurance for visitors is mandatory. You never want to be prohibited to enter a foreign country only in the absence of insurance. Visa applications can get rejected only due to the reason that the user doesn’t have travel insurance. So, before you travel to any foreign country, it’s important to check whether the destination country has mandatory travel insurance for visitors or not. With TripMoney, you can easily get travel insurance for the trip.
- 24×7 assistance – Last but not least, you must find out the right way to get help with 24×7 customer support for overseas claims. You don’t have to worry about the language barrier or any geographical constraints. Travel insurance company coordinates with local authorities and must help you in the issuance of new travel documents or finding the nearby hospital.
Travel Stress-free with TripMoney
Now that you have got to know the need & importance of travel insurance, you must ensure to invest in a good insurance policy that offers extensive travelling coverage. Whether you are abroad or in India also, with Trip Money you will be covered with travel insurance at every step of your journey. The insurance premium covers the treatment on holiday, injury or illness, trip delays, travel support with a single policy.
One of the best things about TripMoney is that you can get an instant travel loan of up to 1 lakh rupees with an interest rate of 1.7% per month. That way you can travel without any tension or financial problems and payback later.