The world is now a very small place, thanks to the extensive way people travel for work or pleasure! Travelling not only opens up your mind to different places and cultures, it helps you pick up the best from every place you visit. However, without travel insurance, there is no way you can protect yourself against unexpected incidents like medical emergencies, lost passport or baggage, cancelled trips, missed flights or even accidental deaths or hijacking. Not to worry though. It is now possible to simply go online and explore all the options for travel insurance so that you can plan a hassle-free trip.
Choosing travel insurance is not always easy
Travel insurance can be of several types, ranging from individual and family insurance to student, multi-trip, leisure trip, senior citizen travel insurance, and so on. And there are many companies offering you the same kinds of insurance. So, how do you pick one? Keep these points in mind while comparing travel insurance plans, so that you can make an informed decision.
Decide on the plan type–If you are going on a short single trip, a single tour insurance plan works best. Multi-tour plans are apt for frequent flyers on the other hand. Family Travel Insurance is also available these days and will cost you less than buying individual travel insurance for everyone in your family. Corporate professionals, students and senior citizens have specific travel insurance plans as mentioned above. So, decide who you are and why and how you are travelling to pick a plan.
Understand the reasons for high premium – While comparing different policies, it is natural to prefer one that has a low premium. But remember, there are solid reasons behind high premium and there might be instances when this is what you will need. The premium will be high when the sum insured is high or you avail extra coverage. Risky travel destinations, long duration of stay and poor health conditions can inflate your premium too.
Consider medical emergencies–A medical emergency can happen anywhere, anytime, no matter how short or long a trip is. It can happen with a student or an elderly family member. So, it’s best to get travel insurance that covers such emergencies. Such plans will cover medical and hospitalization bills, dental procedures, cashless hospitalization and even extended hotel stays due to delayed recovery. A good travel insurance plan will also cover accidental deaths and handle the expenses of body repatriation. You will also get a lump-sum settlement in case of permanent disability after an accident.
Consider other emergencies–Medical emergencies are not the only unanticipated situations that can crop up when you are travelling. You should compare and choose a policy that compensates you if you are accidentally responsible for any third party damage. It should provide emergency cash if you get robbed and compensate you for the suffering caused in case of a hijack. Make sure that you choose a plan that also covers flight delays as not only can these be annoying, but a delay can also ruin the rest of your plans on a trip.
Compare baggage-related coverage–Find out if the insurer you want to go with will cover for lost baggage and personal documents like passport, visa and such. The good ones will also cover for checked in baggage that gets lost or delayed. This can be very useful since a vacation or a business trip can fall flat on its face if you don’t have access to your mobile devices, clothes, medicines or other essentials.
Research about the insurance company–Not all companies pay claims on time, and this is the reason why you need to find out about their claims history and services. You can take a look at their claim settlement percentages to be sure. Examine their claims process in details, and see if they have any emergency online assistance service or a helpline that is available round the clock. Also check what their payment options are and know about the network hospitals.
Note destination-related risks–If you are travelling to a country which is prone to calamities like earthquakes or floods, the travel insurance will naturally cost you more than a normal one. However, it makes sense to pay more and ensure safety and peace of mind.
All in all, these are the points that you need to remember while comparing travel insurance plans online. And remember that no insurance company will cover you for self-inflicted injury, suicide attempt, fatalities that arise due to consumption of intoxicating substances or health concerns caused by wars. Do get quotes from various insurance companies before you zero in on one. Compare plans online instead of visiting different insurers, so that the process becomes easy even if you are extremely busy. It will save you money, headache, and you will be able to minimize the chances of getting duped.
