Usually, unless made compulsory, travel insurance is considered to be additional expense in the overall trip outflow. In contrast, it is a wise decision to cover all kind of unforeseen circumstances like air accident, baggage loss, passport loss, medical emergency, sudden cancellation of travel plans and damage to the personal property which can cause sudden huge financial loss.
Types of Travel Insurance:
International Travel Insurance: Usually given on Individual basis, this is the cheapest and most commonly used travel insurance which covers medical emergencies, document loss, evacuation, air accidents etc.
Student Travel insurance: Most of the universities outside India make it compulsory to have student insurance. This insurance is comparatively a lot inexpensive if made in India rather than outside. It usually covers medical treatment, air accidents, documents loss, interruption in studies etc.