Traveling abroad may soon become a reality once again. The government has decided to resume scheduled commercial international passenger services to and from India from March 27, 2022. The opening up of the skies comes amidst the pandemic scare that still exists in several countries and the ongoing war in Ukraine.

Visiting countries in the European Union may easily be avoided unless there’s an emergency situation to attend to. The latest data from ForwardKeys, a firm providing travel trends and insights to tourism organizations, hotels and retailers, reveals that Russia’s invasion of Ukraine caused an immediate stall in flight bookings to Europe and within Russia domestically.

Whether it is a family trip or a corporate visit, having a comprehensive travel insurance policy may offer a certain level of protection if need arises. The need for travel insurance increases provided the insurers have not changed the terms and conditions keeping the current uncertain environment in mind. “Most of the travel insurance products today available are very comprehensive and insurers have maintained the same product offerings,” says Subramanyam Brahmajosyula, Head – Underwriting & Reinsurance, SBI General Insurance.

“There is a heightened need for travelers to safeguard themselves against any unforeseen circumstances now, more than ever before. Opting for international travel insurance can help travelers enjoy their trips without any hassles or interruptions, and offers several benefits including coverage against financial losses arising due to expenses as a result of hospitalization while travelling, loss of luggage, flight delays or cancellations, etc,” adds Brahmajosyula.

Travel insurance on international trips covers several common areas. According to Brahmajosyula, here are some of the basic coverage that most travel covers provide.

• Hospitalization expenses cover on account of sickness / accident

• Some travel inconvenience covers like trip interruption, trip cancellation and trip extension due to sickness, injury or death in the family that result in a financial loss

• Cover against loss or theft of your baggage and passport.

• Emergency evacuation expenses, due to a natural calamity or terrorist activities, including the return flights home, are covered

• The policy covers the personal liability caused due to negligence resulting in a loss or damage to property or injury to a person who is not a member of your family or travelling party

Depending on the need, one may buy an enhanced version of travel insurance policy with higher coverage. As far as Covid-19 related hospitalization is concerned, most travel insurance covers them. The most important part of buying a travel insurance policy is to carefully look at the list of exclusions and the circumstances under which the claim may not be accepted. Knowing them in advance helps to make the right buying decision.

• Financial Express
• 21/03/2022