Adventure Sport Insurance Cover: What is it, and why does one need to insure themselves?  

Participation in adventure sports is a rising trend among the burgeoning middle class in India. It gives adventure sport enthusiasts an adrenalin rush, an opportunity to challenge other people, and a chance to prove one's mettle. But with adventure comes a lot of risk. A small incidence of carelessness can result in a huge disaster for an individual. It can be in the form of a serious injury, ailment, or death. So, it is better to insure oneself before embarking on an adventurous journey.

In the western world, adventure sports health cover is popular and, in many cases, mandatory. But the trend is catching up in India, and a lot of insurers are now coming up with adventure sports cover.   

Meet Kapadia, Head, Travel Insurance, Policybazaar.com, says that some travel insurance plans are covering adventure sports as a part of the plan. "For example, Digit and Reliance offer adventure sports cover in their premium plans. Additionally, a few insurers like CARE and NIVA provide adventure sports cover as a rider or add-on."

One doesn't have to shell out huge sums to purchase these riders, with just an additional premium of Rs 200–250, as per Kapadia. 

The coverage for injuries or death due to adventure sports is generally up to the sum insured for most insurers. But in other cases, there may be caps on coverage in certain cases, depending on the insurer and the type of adventure sport.

However, in cases such as adventure sports, it is very tough to cross-examine if a claimant is submitting a genuine claim.

E.g., it is extremely tough to verify claims in cases where someone, for instance, goes to Mount Everest, fakes a medical condition or injury, gets a fake medical certificate from a doctor, and submits it for a medical insurance claim in Delhi.

The thing is, an insurance company or its agent can't visit Mount Everest and the doctor in Nepal in such a case.

So, what do insurers do to cross-verify such claims?

Kapadia says insurers have assistance teams available to handle claims from different parts of the world.

"Claims are subjected to a verification process by these teams and are only processed upon successful approval. Claim approval requires documents such as a certificate from a medical practitioner, diagnostic reports, proof of visit (entry and exit stamps), and a visa," said Kapadia.

The trend of adventure sports health insurance cover in India is new.

But like other life risks covered by insurance, the trend may catch up as more people are taking up adventure sports as a hobby.