Six reasons why you must have travel insurance this summer vacation

Seventy per cent of Indian fliers have suffered flight cancellations or rescheduling in the last 12 months (as per an early 2024 LocalCircle report). Globally, around 25 million pieces of luggage are lost or damaged by airlines (a BBC-Sita report). Recently, a Singapore flight that left for London on May 21st dropped 178 feet in less than five seconds due to severe turbulence, causing dozens of passenger casualties. The idea is not to dampen your vacation spirits. It's just to bring to light the need for travel insurance. In times of trouble, it can shield you against exorbitant medical costs, trip cancellations, flight delays, lost baggage and other events that could derail your long-awaited getaway. So, let's deep-dive and see how travel insurance can be handy during a vacation: 1. Medical emergencies: From lengthy hospital stays and emergency surgeries to medication, diagnostic tests, dental work and even air ambulance evacuation, travel insurance ensures you receive all necessary medical treatment without going broke. Just be mindful that some insurers may also enforce sub-limits, especially if you are a senior citizen. 2. Personal accident and third-party liability: The policy provides financial benefits to your beneficiaries in the unfortunate event of your death or to you in case of permanent disablement. You will be compensated based on the extent of the accident. Additionally, the travel insurance will cover for any damages or injuries to others or their property caused by you in your travels. 3. Loss or delay in recei

This article was originally published on June 03, 2024.