In India, not many people anticipate emergency situations during travel, and therefore travel insurance is yet to take off in the manner that it has in many other countries. Having said that, it is important to take into account the fact that India accounts for less than 1.5% of the world’s total insurance premiums. This points to an important ground reality that the idea of insurance itself has taken a while to find acceptance in India. While life insurance has predominantly been the top choice of insurance product, the country’s general insurance sector is fast growing at an impressive rate of 17% and is valued at ₹78,000 crore in terms of premium per annum. These facts for m the basis of the May 2017 Sectoral Report titled Indian Insurance Industry Overview & Market Development Analysis, prepared by the India Brand Equity Foundation (IBEF).
General insurance companies in India offer insurance for both domestic as well as overseas travel. One such leading general insurer is Bharti AXA General Insurance Company Ltd, founded in 2008. It is a joint venture between Bharti Enterprises and the AXA Group.
Single Trip Travel Insurance
Lot of people plan a single annual vacation with their family to escape the mundane routine of their life. Single trip travel insurance is ideal for families planning to take only one trip in any given year. The coverage starts from the time you board a flight from India till your return.
Multiple-Trip Travel Insurance
Are you someone who likes to or needs to travel frequently? Bharti AXA’s multi-trip travel insurance policy is just what you need to ensure you have peace of mind while traveling to multiple destinations in a year, be it an individual trip for business reasons or a pleasure trip with your family.
Age eligibility applies. Children aged 3 months to senior citizens with a maximum age limit of 85 years are covered under this policy.
Minimum duration is 2 days and the maximum for Schengen products is 182 days, and for Non-Schengen products is 182 days, but extendable up to 356 days.
- Any bodily injury that causes permanent or partial disablement or even death.
- All the legal expenses on account of claims arising out of such an accident.
- Any delay in your travel on account of your passport, travel documents or checked-in baggage getting lost or stolen.
- In the unfortunate event of a natural disaster, if you are to live in any accommodation other than the originally planned one then you will be compensated for the expenditure.
- Cosmetic surgery
- Participating in warfare
- Self-inflicted injuries
- Indulgence in illegal activities
Turnaround Time for Claims Settlement
A third party administrator or TPA can help the policy holder with cashless hospitalization. Your policy document will have emergency numbers to contact to avail such a facility and the expected turnaround time as well.
Cover – Starting Amount
Bharti AXA provides the option to choose from a wide range of covers depending on the precise needs of the prospective policy holder.
Worried about the safety of your home in your absence? Not anymore! Bharti AXA travel insurance will protect you against any loss or damage to your home caused by fire or theft in your absence.
Even if you are going for a short trip to a familiar destination, travel insurance is the much needed safeguard against unforeseen emergencies. You must go through the policy document carefully to understand all the terms and conditions as well as make yourself acquainted with the claim settlement procedure.