Travel Insurance Before Your Next Trip

Travelling is one of life’s greatest pleasures, but it comes with its fair share of uncertainties. From trip cancellations to medical emergencies, a variety of issues can arise. This is where travel insurance steps in, providing a safety net that can turn potential travel disasters into manageable inconveniences. In this blog, we’ll cover everything you need to know about travel insurance, focusing particularly on travel insurance provided through credit cards. By the end, you’ll be equipped to travel with peace of mind.

What is Travel Insurance?

Travel insurance is a type of insurance coverage designed to protect you from financial risks and losses that can occur while travelling. This includes coverage for medical expenses, trip cancellations, lost luggage, flight accidents, and other losses incurred while travelling, either internationally or domestically.

Types of Travel Insurance

1. Single Round Trip Insurance: Covers a single trip to an international or domestic destination.

2. Multi-Trip Insurance: Ideal for frequent travellers, covering multiple trips over a set period (usually a year).

3. Senior Citizen Plan: Tailored for older travellers, often including enhanced medical benefits.

4. Family Travel Insurance: This covers the entire family under a single policy.

5. Student Travel Insurance: This covers aspects like medical emergencies and loss of study material for students studying abroad.

Travel Insurance on Credit Cards

Many credit cards offer travel insurance as a complimentary benefit when you use the card to book travel-related expenses. This can be a convenient and cost-effective way to ensure you’re covered. However, it’s important to understand what’s included and the limitations.

Common Features of Credit Card Travel Insurance

Trip Cancellation/InterruptionReimbursement for non-refundable trip expenses if your trip is cancelled or cut short.
Lost or Delayed BaggageCompensation for lost or delayed luggage, covering essential items like clothing and toiletries.
Emergency Medical and DentalCoverage for medical and dental expenses incurred while travelling.
Emergency EvacuationCoverage for emergency evacuation and transportation to a medical facility.
Rental Car InsuranceCoverage for rental car damage or theft.
Travel Accident InsuranceCompensation for accidents resulting in serious injury or death during travel.

What You Need to Know Before Your Trip

1. Check Your Credit Card Terms: Not all credit cards offer the same level of travel insurance. Review the terms and conditions to understand your coverage.

2. Travel Requirements: Ensure you meet any requirements to activate the coverage, such as using the card for a portion of your travel expenses.

3. Emergency Contact Information: Have the contact information for your insurance provider handy in case you need to make a claim.

4. Additional Coverage: Consider purchasing additional insurance if you’re engaging in activities not covered by your credit card’s policy.

5. Review the Exclusions: Understand what is not covered to avoid surprises when filing a claim.

Suggested Credit Cards for Best Travel Insurance

Credit CardTravel Insurance PerksAnnual Fee
HDFC RegaliaTrip cancellation, lost baggage, emergency medical, personal accident₹2,500
ICICI Bank SapphiroTrip cancellation, medical emergencies, lost baggage, personal accident₹6,500
Axis Bank Miles & More WorldTrip cancellation, medical expenses, lost baggage, travel inconvenience benefits₹3,500
Standard Chartered Visa InfiniteTrip cancellation, lost baggage, emergency medical, personal accident₹5,000
American Express Platinum Travel CardTrip cancellation, lost baggage, emergency medical, travel inconvenience₹5,000
Citi PremierMiles Credit CardTrip cancellation, lost baggage, emergency medical, travel accident insurance₹3,000
YES FIRST Preferred Credit CardTrip cancellation, lost baggage, emergency medical, travel inconvenience₹2,500
Kotak Royale Signature Credit CardTrip cancellation, lost baggage, emergency medical, personal accident₹1,499
IndusInd Bank Legend Credit CardTrip cancellation, lost baggage, emergency medical, travel accident insurance₹9,999

Summary of Perks

FeatureHDFC RegaliaICICI Bank SapphiroAxis Bank Miles & MoreStandard Chartered Visa InfiniteAmerican Express Platinum Travel CardCiti PremierMiles Credit CardYES FIRST Preferred Credit CardKotak Royale SignatureIndusInd Bank Legend
Trip Cancellation
Lost Baggage
Emergency Medical
Personal Accident
Travel Inconvenience Benefits
Travel Accident Insurance

Additional Tips for Choosing Travel Insurance

– Compare Policies: Look at different travel insurance policies to find the best coverage for your needs.

– Understand the Fine Print: Pay attention to details like coverage limits, exclusions, and claim procedures.

– Consider Your Destination: Some destinations may have higher medical costs or specific risks that require more comprehensive coverage.

– Evaluate Your Activities: If you’re planning on engaging in extreme sports or other high-risk activities, ensure your insurance policy covers these.

Travel insurance, whether purchased separately or included with your credit card, is a crucial part of preparing for your trip. It offers financial protection and peace of mind, allowing you to focus on enjoying your journey. By understanding the different types of coverage and reviewing the specifics of your policy, you can travel confidently, knowing you’re prepared for the unexpected.

A must-try credit card: ICICI Bank MMT Platinum

ICICI Bank Travel Insurance offers comprehensive coverage for lost baggage. Here are the detailed aspects of their Lost Baggage Cover:

1. Coverage

– Loss of Checked-in Baggage: You can claim the sum insured amount up to – USD 50,000 or INR 5 lakhs

  – Compensates for the loss of checked-in baggage while in the custody of a common carrier (e.g., airline).

  – This includes compensation for the value of the lost items as per the policy limits.

– Interim Purchases: 

  – Covers the cost of essential items (like toiletries and clothing) if there is a temporary loss of baggage.

  – This is applicable when the baggage is delayed, and compensation is provided for necessary interim purchases until the baggage is recovered.

– Permanent Loss: 

  – If the airline cannot locate and return the baggage within a specified period (usually 21 days), the baggage is considered permanently lost.

  – Compensation is provided for the permanently lost baggage according to the policy terms.

2. Claim Process

– Property Irregularity Report (PIR):

  – File a PIR with the airline immediately after discovering the loss or delay of baggage.

– Documentation Required:

  – Copy of the Travel Insurance Policy*: This is a document that outlines the terms and conditions of your travel insurance coverage. It includes details such as your policy number, coverage limits, and the duration of the insurance. You need to provide a copy of this document as proof that you have an active travel insurance policy with ICICI Bank.

  – Copies of travel tickets and boarding passes.

  – Details and description of the checked-in baggage.

  – A copy of the PIR filed with the airline.

  – A list of the contents of the baggage and their approximate value.

  – Proof of purchase or ownership of high-value items.

– Claim Submission:

  – You can submit claims online through the insurance company’s website or by mail to the claims department.

  – Ensure all required documents are included to avoid delays in processing.

– Processing Time:

  – Typically, the company processes claims within 30 days if all documentation is complete and in order.

3. Important Notes

– Baggage Delay Coverage:

  – Delays in the receipt of baggage beyond 6 hours for domestic travel (within India) and beyond 12 hours for international travel are eligible for compensation.

– Multiple Incidents:

  – Coverage is provided for multiple incidents of baggage delay in a single trip.

  – The company limits its overall liability to two incidents of delay per trip.

– Policy Limits:

  – There may be specific limits on the amount of compensation provided for lost baggage and interim purchases. The insurance policy document will detail these limits.

– Exclusions:

  – The lost baggage policy may not cover certain items, such as cash, jewellery, electronics, and fragile items. It is important to review the policy exclusions.

Additional Information

– Premiums and Policy Terms:

  – The cost of the travel insurance policy and specific terms and conditions related to lost baggage cover can vary. It is advisable to review the policy document or contact ICICI Bank for detailed information.

– Customer Support:

  – For assistance with claims or more information, policyholders can contact ICICI Bank’s customer support or visit their official website.

*You can find a copy of your Travel Insurance Policy from ICICI Bank through the following methods:

  • Email:
    • When you purchase a travel insurance policy, ICICI Bank typically sends a confirmation email with an attached copy of your policy document. Check your email inbox (and spam/junk folder) for this email.
  • ICICI Bank’s Website:
    • Log in to your ICICI Bank account on their official website.
    • Navigate to the section for insurance policies or your account dashboard.
    • Look for your travel insurance policy and download a copy of the document.
  • Mobile Banking App:
    • Log in and navigate to the insurance section if you use ICICI Bank’s mobile banking app.
    • Locate your travel insurance policy and download the document from there.
  • Customer Support:
    • Contact ICICI Bank’s customer support via phone or email.
    • Provide your details and request a copy of your travel insurance policy.
    • Customer support can email you a copy or guide you on how to access it online.
  • Insurance Provider’s Website:
    • If ICICI Bank partners with an insurance provider, you can visit the insurance provider’s website.
    • Log in to your account and download a copy of your travel insurance policy from there.

By understanding these aspects of ICICI Bank Travel Insurance Lost Baggage Cover, you can stay well-prepared for any unfortunate incidents involving your luggage during travel.

Happy travels!


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