How does Financial Emergency Cash Cover Under Travel Insurance Help You?

• Written by Care Health Insurance

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Travelling overseas anytime soon? If yes, you would definitely not want to jinx your fun trip due to any robbery or theft in a foreign land. You will obviously be appalled if you do not find your wallet and cards in your bag and find yourself up the creek without a paddle. Such unpleasant experiences may land you in trouble if you are not fully informed about your travel insurance plan and its benefits. 

Every country has a hotspot where pickpocketing is a common practice among robbers; however, you can be protected against such mishaps. The benefit “Financial Emergency Cash” under your travel insurance comes to your rescue in this situation. This benefit comes in handy if you travel overseas and have comprehensive travel insurance. 

Read through to learn about financial emergency cash benefits under your travel insurance plan.

What does Financial Emergency Cash Mean?

Financial emergency cash is an instrumental benefit that offers absolute financial protection while travelling to a foreign place. There could be instances where you need cash urgently after the burglary of your wallet or luggage. This benefit is not only for those on vacation but also for business travellers who find themselves with no cash for necessary expenses. Sometimes, even hotel rooms or subways also get burglarised and people lose all their travel funds at once. Thus, there is no downside to travel insurance as it only benefits you whenever you are stuck and have no saviour. 

Things to Remember if You Buy Travel Insurance with Emergency Cash Benefit

Every benefit your policy offers has terms and conditions that you can’t ignore. Below mentioned are some things to take care of if you buy travel insurance with emergency cash benefit-

1. Report the loss of your travel funds immediately to receive emergency funds right then and there. This benefit can’t be claimed once the trip is over.
2. Find the nearest police station and report the theft as soon as you find out you have no travel funds.
3. In order to get the claim, make sure you either have a written report or an FIR obtained within 24 hours of the incident.
4. You can avail of this benefit if you face a financial crunch due to a shortage or currency fluctuation.
5. You won’t be able to claim emergency cash benefits if you fail to report the loss of your funds to the concerned authorities within 24 hours.

Usually, exclusions vary from insurer to insurer, so be careful while you buy yourself travel insurance. A wise choice will save you from any misunderstandings later.

How to be Prepared for any Financial Emergency?

Pickpocketing and mugging are prevalent crimes that prey on tourists that are not really attentive. However, there are a few things to remember if you find yourself in this situation:

• When you discover that your wallet or cards have been stolen, immediately block all of your cards.
• Track your phone or other devices using the location or GPS features.
• In the event of lost baggage or valuables, you may be entitled to partial or total compensation, depending on the situation.

While the amount offered as compensation may be less than the cost of your original item, you will still be able to receive compensation for lost items. Just ensure you are informed about what your policy covers and does not cover.

How does Your Travel Insurance Help in the case of Robbery or Theft?

You would need assistance from travel insurance policy for so many potential emergencies. The immense benefits of a travel insurance policy will not leave you disappointed whether you suffer baggage or passport loss, come across dire situations like accidents or get mugged or robbed– your travel cover will ensure that you don’t bear the full amount of the loss. It could be a massive risk if you avoid buying a travel insurance plan while travelling internationally, as it can give you one of your biggest life setbacks. So, having an ideal backup will ensure that financial emergency cash is not only helpful but also irreplaceable..

Take Away!

Any trip can fall apart if you get mugged or robbed in a country where you have no backup plan to spend the rest of the days without money. To save you from devastation like this, Care Health Insurance offers unparalleled travel insurance plans that ensure you are fully protected against medical and non-medical contingencies in a foreign land. 

Disclaimer: Plan features, benefits, coverage, and claims underwriting are subject to policy terms and conditions. Kindly refer to the brochure, sales prospectus, and policy documents carefully.