Travel Insurance: How to Buy & Best Plans in India

Travel insurance protects you against unexpected events during international or domestic trips — medical emergencies, trip cancellation, lost baggage, and more. For Schengen visa applicants, travel insurance is mandatory. This guide covers what to look for, how to buy, claim process, and comparison tips.

What is Travel Insurance?

Travel insurance is a policy that covers financial losses or medical expenses incurred during a trip. It typically covers:

• Medical emergencies and hospitalization abroad
• Trip cancellation or interruption
• Lost or delayed baggage
• Passport loss
• Personal accident or death
• Flight delays

If you're applying for a Schengen visa, travel insurance with minimum €30,000 medical coverage is mandatory.

Types of Travel Insurance Coverage

Schengen Travel Insurance Requirements

For Schengen visa applications, your travel insurance must meet these criteria:

1. Minimum coverage: €30,000 (approximately ₹27 lakh)
2. Valid in all 29 Schengen countries
3. Cover medical emergencies including hospitalization and repatriation
4. Cover the entire duration of stay plus a few buffer days
5. No deductible (some embassies prefer zero-deductible policies)
6. Must be from a recognized insurance company

Many Indian insurers offer Schengen-specific plans. Always verify the policy meets embassy requirements before applying for your visa.

How to Buy Travel Insurance Online

Step-by-Step Process

1. Compare plans on aggregator websites or directly on insurer websites
2. Select destination and travel dates — this determines the plan options
3. Choose coverage amount — minimum €30,000 for Schengen; $50,000–$100,000 recommended for US
4. Select plan type — Individual, Family, Student, Senior Citizen, or Multi-trip
5. Review coverage details — check inclusions, exclusions, sub-limits, and deductibles
6. Fill traveller details — name (as on passport), date of birth, passport number
7. Pay online — credit/debit card, net banking, or UPI
8. Download policy document — you'll receive it instantly via email

Where to Buy

• Directly from insurers: ICICI Lombard, Bajaj Allianz, HDFC ERGO, TATA AIG, Star Health
• Aggregator websites: Policybazaar, Coverfox, InsuranceDekho
• Bank/credit card portals — some banks offer complimentary travel insurance with premium credit cards

Family Travel Insurance Plans

Family plans cover all family members under a single policy, often at a lower per-person cost than individual plans.

Typical Family Plan Features

• Covers 2 adults + up to 2–3 children
• Sum insured shared (floater) or individual
• Children typically covered up to age 18–25
• Some plans cover dependent parents

Benefits of Family Plans

• Lower cost compared to separate individual policies
• Single policy management — one document, one claim process
• Floater sum insured — higher coverage available for whoever needs it

How to Claim Travel Insurance

During Emergency (Cashless)

1. Call the insurer's 24x7 helpline (number on your policy card)
2. Request cashless hospitalization at a network hospital
3. Share policy details and hospital information
4. Insurer coordinates directly with the hospital for payment
5. Keep all documents — admission papers, discharge summary, bills

After Returning (Reimbursement)

1. Inform the insurer within the specified time (usually 7–30 days)
2. Gather documents:
   • Original medical bills and receipts
   • Doctor's prescription and diagnosis report
   • Hospital discharge summary
   • FIR copy (for theft/loss claims)
   • Flight delay certificate from airline (for delay claims)
   • Passport with entry/exit stamps
3. Fill claim form on insurer's website or app
4. Upload/submit documents
5. Claim processed typically within 15–30 days

Travel Insurance Costs in India

Premiums vary based on age, coverage amount, and plan type. Senior citizens pay higher premiums.

Tips to Compare and Choose the Best Plan

1. Check the sum insured — ₹50 lakh+ for US/Europe trips; €30,000 minimum for Schengen
2. Read exclusions carefully — pre-existing diseases, adventure sports, and alcohol-related incidents are commonly excluded
3. Check sub-limits — some plans cap specific benefits (e.g., baggage loss limited to ₹25,000 even if total sum insured is ₹50 lakh)
4. Look for zero deductible — plans without deductible mean the insurer pays from the first dollar/rupee
5. 24x7 assistance — ensure the insurer provides round-the-clock helpline and cashless hospital network
6. Check claim settlement ratio — choose insurers with 90%+ claim settlement ratio
7. Read reviews — check actual claim experiences, not just marketing promises

Important Tips

1. Buy before visa application — For Schengen, you need the policy document at the time of visa submission
2. Coverage dates matter — Your policy must cover the entire trip duration including travel days
3. Declare pre-existing conditions — Not declaring can lead to claim rejection
4. Keep digital copies — Save your policy document, insurer helpline number, and claim form on your phone
5. Check credit card coverage — Some premium credit cards include complimentary travel insurance; verify the coverage amount and terms

Frequently Asked Questions (FAQs)

1. Is travel insurance mandatory for international travel?

It is mandatory for Schengen visa applications. For other countries, it is not mandatory but highly recommended.

2. How much travel insurance coverage do I need?

For Schengen: minimum €30,000. For US: at least $50,000 recommended due to high medical costs. For Southeast Asia: ₹10–25 lakh is usually sufficient.

3. Does travel insurance cover COVID-19?

Most current travel insurance plans cover COVID-19 treatment abroad. Check the specific policy wording to confirm.

4. Can I buy travel insurance after reaching the destination?

Technically some plans allow it, but it's not recommended. Buy before departure to ensure coverage from day one. Schengen requires it before visa application.

5. What is not covered by travel insurance?

Common exclusions: pre-existing diseases, self-inflicted injuries, adventure sports (unless add-on purchased), war/terrorism, alcohol/drug-related incidents, and travelling against medical advice.

6. Can I cancel travel insurance and get a refund?

Yes, most insurers offer a free-look period (15–30 days) during which you can cancel and get a full refund if the trip hasn't started and no claim has been made.

7. Is domestic travel insurance available?

Yes. Several insurers offer domestic travel insurance covering medical emergencies, trip cancellation, and baggage loss within India, though it's less common.

Disclaimer: This guide is for informational purposes only. CitizenNest is an independent platform and is not affiliated with any insurance company or government body. Compare plans and read policy documents carefully before purchasing. For insurance-related grievances, contact IRDAI.