The travel insurance market stands at a whopping $70 million today. The travel insurance industry in India is expected to grow by 10-15% in 2020.
You too can apply for a travel insurance policy this year. However, there are certain essentials that you must be aware of so that you can make the necessary travel insurance claim.
Making the insurance claim in the right manner allows you to reap its perks such as coverage against flight cancellations, baggage loss, accidents and medical emergencies. Therefore, filing a claim for both overseas and domestic travel insurance policies is essential.
Take a look at these easy to follow simple steps for filing a travel insurance claim rightly
- Reading your policy extensively before buying it is a necessity. Nowadays, insurance providers are transparent about their policy terms and conditions to help prospective customers. Download the PDF and go through their inclusions, quotations and other clauses thoroughly.
- Before purchasing travel insurance online, ensure that you know your policy limitations and requisites. There are certain “pre-existing conditions” which may prevent you from availing the financial coverage in case you cancel your trip for such emergencies.
- In case of a pre-trip cancellation owing to medical emergencies you are required to consult a doctor and obtain authorised documentation stating that you are too sick to travel. In order to make this cancellation a covered claim you have to prove about your medical condition.
- Medical emergencies can come up on-trip. In such situations, you need to seek instant medical attention. Contact your travel insurance company immediately informing them about the situation so that they can arrange medical care and transportation facilities. They will guide you with the necessary documents that will cover up the medical expenses charged in a foreign location.
- In case you are travelling within your domestic boundaries then events such as bounced hotel bookings, wallet loss or an accident can get covered if you make the adomestic travel insurance File a police report and notify your insurance agency immediately when your items are stolen. Make it a point to check your time limit in the policy wordings for emergencies like these.
- Travel insurance providers ask for receipts that work as monetary proof. Therefore, before you file a claim, ensure that all receipts needed to file the claim are present and handy. In case of flights delays, keep your meal, medicine and ticket receipts in hand.
- You must also have your other policy paper works. As the travel insurance policy pays second, lodge a claim with the medical insurance provider, airlines and travel organisations for anything they shall cover. The insurance companies will see the refund policies and cancellations of other organisations to ensure that they have provided their fair share.
- Save your documents literally for everything. It is essential to do so as your insurance provider will need proof of your expenses, the money you have paid and refunds you have received.
Some don’ts to abide by
- Do not forget to check your policy pan limits.
- Do not exaggerate your losses.
- Try not to fail at providing authentic documentation of loss.
- Do not wait too long for filing a claim.
If you are on a lookout for a reliable travel insurance plan, you can opt from various options available under the Pocket Insurance category offered by Bajaj Finserv. Some of the travel insurance products offered by the company includes Trek Cover, Road Trip Cover, Pilgrimage Cover, domestic travel insurance, amongst others.