Are you an ardent traveller? Have you been exploring places and also being adventurous about them? If yes, then you are making the best part of your life interesting.
Unfortunately, it is so likely that even a trip can bring in unforeseen incidents. Getting affected due to a medical emergency, experiencing a delay in your travel plans, ending up losing your luggage etc., are some of the most common issues. And, the only immediate resort that can help you in such scenarios is travel insurance.
Insurance providers offer a range of features and add-on benefits to take up travel insurance based on your preferences. Therefore, it is imperative to compare travel insurance before buying one. There are a few factors that help you purchase the best travel insurance for your needs. Let us understand those factors in this article.
What is Travel Insurance?
Travel insurance is an insurance policy that can ensure safety and comfort when you are enjoying your travel. It can cover expenses related to accidents and sickness, baggage loss or delay, loss of important documents like passport, flight delays etc., The type of travel insurance and the features you choose will be based on your destination, type of visit, number of co-travellers and so on. The following factors can help you purchase traveller insurance by making the right preferences.
Important Factors to Consider When You Buy Travel Insurance
When you are investing in travel insurance plans, it is important to go through the different features, understand the terms and make the best decision. These factors can help you in this regard.
- Type of Travel – If you are a frequent traveller planning multiple trips in a year, the annual multi-trip plan will be the best choice. An entrepreneur frequently travelling to the UK for their business. On the other hand, single plan insurance will serve for a single short trip. For example, a traveller travelling abroad to meet relatives can take the single trip insurance.
The insurance premium will vary based on your type of travel. It is also dependent on the duration of the trip. A longer duration trip can cost you a higher premium. However, customised and special travellers insurance plans are introduced for students and senior citizens who plan to stay abroad longer. Furthermore, if your itinerary includes adventurous activities, you must plan for a higher sum assured to ensure better protection.
- Medical benefits – While purchasing travel insurance, it is vital to consider the medical benefits provided by the insurer. For instance, travel insurance can provide financial support if you face an accident or fall ill abroad. In addition, it can cover regular medication and hospitalisation charges. If a medical emergency demands that you travel back to India for the treatment, even that can be assisted by your travel insurance policy. However, you must disclose your health condition precisely to the insurer while purchasing the policy and deciding on the premium for maximum protection. If you are a senior citizen or have the habit of smoking and consuming alcohol, the premium can be slightly higher due to increased risk factors. Make it a point to compare travel insurance for the best coverage based on your medical history.
- Destination – The destination of your travel is a crucial factor while purchasing travel insurance. Suppose the destination place government has imposed travel restrictions due to tension caused in the place due to a strike or riot. In that case, the insurance can pay for any non-refundable and pre-booked transactions.
The premium charged will be costlier for a country where the hospitalisation expenses are high. And, if the place is prone to natural calamities such as landslides, cyclones etc., the insurer will again demand a higher premium to cover expenses such as cancellation charges.
- Add-on benefits – A basic travel insurance plan will provide the necessary protection and financial cover for a regular trip. However, suppose your travel plan includes a consideration that requires extended coverage. In that case, you must have a broad policy with varied features and add-on benefits. For example, if you stay in a theft-prone area and plan to travel to a foreign destination on vacation, you can cover for any theft that may occur at your house in your absence. It can help you with the necessary financial assistance. When you purchase online travel insurance, you can navigate through the range of add-on benefits for your perusal.
- Insurer’s service efficiency – The primary purpose of travel insurance is to cover the expenses associated with unforeseen situations. Therefore, while buying travel insurance, it is necessary to check the claim settlement ratio and the insurer’s claims process for a swift response. Also, ensure the customer service operations for the best digital support such as making claims and submitting the documents online instead of securing hard copies and making the necessary arrangements in person. You can buy travel insurance online by reading the terms, uploading the necessary documents, and availing yourself of the benefits easily in the comfort of sitting at your home.
Conclusion
Travelling should be a part of your life to make it even better and beautiful. It can help you relax and stay off from regular family and professional stress. However, even your travel can introduce unforeseen circumstances in your life that require financial assistance.
In this bottom line, travel insurance in India is becoming increasingly popular for its features and advantages. It can secure your travel by ensuring the right financial support when you are in extreme need. Therefore, choosing the best plan based on your travel is important. Consider factors such as type of travel, destination, medical benefits offered, service efficiency and add-on benefits while purchasing the travel insurance policy. Understand different policies, compare for the best, purchase the right and travel safe!
