Unpredictability and surprise are the essence of travelling. While you cherish some surprises, there may be others that you always want to avoid. Losing your baggage or getting sick while travelling are the last things you wish to think about while planning a journey. However, these situations cannot be ruled out and one must prepare for the same beforehand to minimise the losses that may occur.
A travel insurance policy is not only essential in case of a medical emergency, but it also protects you against loss or damage of any personal belongings while on vacation.
If you lose an expensive item while on the vacation, you obviously have very little to. Generally, people lodge a complaint and wait for action on it. In most cases, such losses are beyond recovery. Such a mishap will hamper your vacation not to mention the financial losses.
So, the next time you’re planning to take your expensive camera or your fancy laptop, know how to ensure coverage on them.
Do extensive research
When purchasing a travel insurance policy, go through the insurer’s policy coverage and regulations thoroughly. Every insurer provides different coverage and compensation grounds. Always read what the Product Disclosure Statement has to offer before settling on a purchase decision.
Declare your valuables
Once you decide to buy a particular travel insurance policy, it’s essential to let your insurance provider know of the valuables you’re taking for a vacation. Stay aware of the policy’s limits and sub-limits on personal items.
If you’re unsatisfied with the coverage you’re getting for your valuables, you could always weigh your options. You can opt for easy to avail Pocket Insurance policies such as the domestic holiday cover offered by Bajaj Finserv which provides coverage of up to Rs. 1 Lakh on personal belongings. Moreover, some insurance companies also offer you the option of customising the limits of each value as long as it doesn’t add up to the maximum benefit.
Insure high-valued items separately
Suppose, you’re taking a luxury item on your holiday, you can insure them separately. Many travel insurers allow one to register his/her valuables with an additional fee. Note that you need to communicate the same to your insurer beforehand to avail coverage in case of losses.
Also, make sure you get your expensive items at home insured while you’re away on vacation. Get a travel insurance cover to ensure your valuable belongings are insured at an additional cost. You can look into Pocket Insurance products including home protection insurance scheme to protect them and benefit from financial coverage against any loss of property due to burglary or theft.
Proof of value
A receipt or a proof of validation can make a big difference between an approved or rejected claim. When you’re planning for a trip, double-check if they’re providing baggage insurance coverage as well. It’s always recommended to keep the contents of your baggage secured. Before you leave for the trip, tally up the entire cost of items and modify your policy coverage accordingly.
Now, if your valuables get damaged, maintain and provide evidence to show that the mishap took place on-trip. It will help you to claim the coverage according to the damage caused.
Making a claim
Before availing a domestic travel insurance, you should check up on the claim disbursal procedure. Different insurance providers have varied claim settlement procedures and policies. As a traveller, you should look for policies that save you time and provide quick disbursals. A basic check list –
- Be thorough with your documents that are required in a claim form
- Contact your insurer to report loss
- Carry proof of your belongings
- Carry back-up of your personal records in case they get stolen
Even the most prepared jet-setters sometimes lose their valuable belongings, but don’t let it ruin your trip. Always stay protected against unplanned mishaps with a travel insurance cover and enjoy your trip to the fullest.