Let’s face it, fewer people actively buy travel insurance online compared to health and life insurance. Many people simply overlook getting travel insurance. Those who purchase it do so to protect themselves against problems like baggage loss and delays.
Travel Insurance For Rail Travel
Every train disaster serves as a reminder that safety standards must be raised. These catastrophes also highlighted how poorly insurance is marketed in the nation.. On average, one in three passengers chooses to buy travel insurance online.
The penetration, however, varies significantly between trains and routes. For instance, only 78 insured passengers were on board the Indore-Patna Express when it derailed on November 20 and caused the passing away of over 140 people and the injuries of over 200 more.
Travel Insurance Coverage
This supplemental travel insurance is offered individually and is a group insurance plan.. This amount is always the same regardless of the type of travel or the length of the trip. Once chosen, coverage is available to all travellers with a single PNR.
Sections 123, 124, and 124-A of the Railways Act of 1989 define accidents and victims for this plan. A train derailment, a collision between trains, at least one passenger train, or any other accident involving a train or any portion of a train carrying passengers are all examples of accidents.
Claims must be submitted within four months of the accident date, accompanied by a report from railway authorities and a list of deceased individuals.
Easing Of The Claims Process
To streamline the claims procedure, life insurers have stepped forward specifically for claims resulting from the Indore-Patna Express railway tragedy. Insurance firms have loosened the standards for claims. For the insurance company to evaluate a claim, the nominee of the insured person typically needs to provide a passing away certificate from the appropriate authority.
A minimum of two life insurance companies have also streamlined their procedures for resolving the claims of the victims of railway accidents, in addition to the three companies offering optional rail travel insurance.
They have technically approved the claim for situations of passing away where confirmation has been received from the relevant authorities. Other documents, such as the postmortem report, have been waived off. Make sure you compare travel insurance before buying one.
A travel insurance premium calculator is a convenient tool you may utilise online to check the amount of coverage required based on your needs.
Having travel insurance is a prudent and often essential choice for anyone embarking on a journey, whether for leisure or business. It serves as a financial safety net, providing coverage for a wide range of unforeseen events such as trip cancellations, medical emergencies, lost luggage, and more. Travel insurance not only offers peace of mind but also helps mitigate the financial risks associated with travel mishaps. It ensures that travelers can focus on enjoying their trips rather than worrying about potential setbacks. Given the unpredictability of travel, having adequate insurance is a wise investment to protect both your well-being and your wallet during your adventures.
Standard T&C Apply
Visit the official website of IRDAI for further details.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.