Travel Insurance for Natural Calamities
In foreign countries, disasters caused by natural calamities always flood the insurance companies with claims. Travel insurance claims for getting stuck or being affected by a natural disaster comprise a major part of this. However, the picture is different in India. Indians do not give much heed to the importance of travel insurance and generally opts for it only if it is mandatory in the place to which they are travelling. Surveys during various natural disasters have shown that general insurance companies hardly received any claims even after large-scale natural calamities causing thousands to die.
If the disaster is massive, there are high chances the preliminary medical and emergency services cost will be borne by the government, though this completely depends on the scale of damage caused. But one needs to keep in mind that if he is covered with a travel policy, the associated charges like medical evacuation, transportation to a nearby hospital, medicine and hospitalization and even the costs for extended stay will also be taken care of. Some insurance providers even cover for the stay of your relatives at the place where you have been hospitalized.
Travelling overseas is very expensive and if one is unfortunate to be trapped amidst a natural calamity, the expenses will surely blow a hole in your pocket. So it is always wise to spend a smaller amount on travel insurance policy premium and secure your travel rather than not insuring yourself and spending a fortune abroad. Travel insurance premiums are mostly not very high and can be afforded. A major amount of the premium is scheduled to cover for medical emergencies caused due to nature's fury. The rest is for other losses.
All general insurance companies provide coverage for natural calamities occurring at your place of residence or at the destination where you plan to visit and as mentioned in the policy. The premium of such policies depends on factors like sum insured, age of the person, the period of your travel and the location where you are travelling to. The longer the stay more is the premium amount.
The claiming process for travel insurance due to natural calamities depends on the reason for which you want the money. If the clam is for medical or hospitalization; it will be settled in no time. However, if the reason is something different, like permanent disability, etc., then the claim process takes longer. Under such circumstances, you have to provide medical certificates provided by the hospital where you were treated, which can take some time.