A Complete Guideline about Baggage Insurance Cover Policy 

February 24, 2020 0 By Saahil

Losing baggage while you are on a trip can be the worst nightmare that might come true. According to statistics, 2018 saw a rise in the percentage of complaints related to baggage loss, which stood at 26%, a 10% rise from 2017. In that context, with a priorly secured baggage insurance plan you can avoid the monetary issues arising due to luggage lost amidst the trip. 

Baggage losses or damage to expensive commodities due to theft or unavoidable accidents can render you helpless in an unfamiliar place. A financial coverage provided by a reliable insurance aggregator can lend you a comfortable vacationing experience at an affordable premium rate.

Reasons to avail baggage insurance cover

Baggage insurance plan can be the freestanding insurance policy that can provide you with financial coverage for all of your lost or damaged holdings in your baggage. Apart from this, it has other features that are mentioned below:

  • Full-proof baggage only travel insurance policy ensures that you are secured with advances if you suffer a loss or damage to your luggage while on a trip. However, the cause of a loss or damage has to be either due to theft or accidents like fire, strike or terrorism. In such cases, individuals can secure financial coverage from companies like Bajaj Finserv that provide Pocket Insurance & Subscriptions such as Baggage Insurance policy, at an affordable premium amount.
  • In case the baggage is lost due to an accident while performing an adventurous sport, the insurer’s family has the privilege to claim for the coverage in case of a mishap. Additionally, it is advisable for every individual to secure an adventure sports insurance cover before trying out any adventurous sport, where the insurer if suffers injuries and requires immediate hospitalization, will be provided with financial coverage for hospital bills and other treatment-related expenses. 
  • In the case of lost luggage, the insurance coverage for the commodities can be extended depending on the severity of the cause. 

How to avail baggage insurance cover policy?

The baggage insurance policy can be availed by an individual by following the simple steps mentioned below: 

  • The claimer has to report about the loss or damage of their luggage to their insurance provider through their website, e-mail or toll-free number.
  • The list of the commodities containing the luggage has to be presented to the financial institution with every detail of the lost item. 
  • After checking the authenticity of the claim, the insurance amount will be credited to the customer’s account within 15-30 days from the day of claim approval.

Documents requisite to claim baggage insurance policy 

The records required to be produced by an individual to claim their luggage insurance are elucidated below:

    • Candidates have to fill out the form accurately stating the reasons for their claim.
    • The documents related to the insurance policy have to be furnished to the insurance aggregator. 
    • A photocopy of the baggage protection policy has to be provided.

  • The list of the items in the baggage lost or harmed has to be informed to the financial institution. 
  • The copy of the FIR has to be produced to the financial service provider to avail lost baggage insurance, in case the commodities are stolen due to mishandling.

Individuals should draft out a full-proof checklist for their vacation after adding a baggage insurance plan as a part of their travel essentials. To have a stress-free experience while on a trip, individuals can also opt for a travel insurance plan. This scheme will efficiently tackle all your financial emergencies during your trip adventure at a minimal premium cost.