Passport-check, travel visa-check, traveler’s cheque-check, luggage-check, hotel booking-check, cab to the airport-check. If this is your overseas travel checklist, it is time to raise the red flag. Travelling without a travel insurance plan not only leaves you financially vulnerable, it can also take the sheen out of your entire holiday and savings in one go.
Travel has become one of the most popular hobbies with many avid travelers taking off to explore various destinations both domestically and globally. What sets the real travelers apart is an emphasis on travel insurance to safeguard against any financial and medical emergency. Considering that all places may not have adequate medical facilities or may be super expensive for your budget, the premium paid for travel insurance can actually be worth its weight in gold.
Understanding travel insurance and its types
Travel insurance offers protection against any medical eventuality during your travel. With travel insurance in place, you can seek cashless hospitalization as well as any emergency like baggage loss or evacuation in the event of an emergency. The premium for the travel insurance depends on the sum insured, the type of coverage, the travelling destination as well as your age and health.
Domestic travel insurance
If you are travelling domestically within India, you can opt for domestic travel insurance. Under this plan you are offered protection against any baggage loss or delay along with medical needs.
Student travel insurance
Student travel insurance plans for overseas students are tailor made to offer optimum protection against any health related emergency for the student for his or her entire duration of stay overseas.
Senior Citizen Travel Insurance
Do not let age become a hindrance in your travel plan. With senior citizen travel insurance you can get protection against medical emergencies including pre existing diseases for travelers between 61 to 70 years.
Single Trip Insurance
Any travel insurance that remains valid only for a single trip comes under the ambit of single trip insurance. The premium charges depend on the country of visit and the
Multiple trip travel insurance
If you are planning to undertake multiple trips to the same destination, opting for multiple trip travel insurance allows for a cost effective travel insurance solution. Such insurance plans are ideal for business traveler with multiple trips to the same destination over a year.
Five tips to help you choose the right travel insurance for your needs
Opting for travel insurance is one thing but choosing the right travel insurance plan which is both cost effective and protective is quite another. The following five tips will help you optimize your travel insurance plans.
Opt for the right insurance plan as per the destination
Ensure your travel insurance plan is selected as per the nature of your visit and the destination. For example if you are looking for a holiday destination picking a country which is considered low risk for tourists and having a well developed medical system can mean pocket friendly premium for your travel insurance.
Know the exclusions
Knowing the inclusions and exclusions for travel insurance is essential to avoid any claim denial especially when stuck overseas and in an emergency. Read the terms and conditions of your travel insurance policy rather than relying on word of mouth promise of the insurer or insurance agent.
Focus on your purpose of travel
Your travel insurance is linked to your purpose of visit. For example if doing any high risk adventure stuff like sky diving, bungee jumping, snorkeling is on your agenda, know that travel insurance may not be valid for such high risk adventures unless specifically specified.
Keep an eye on your travel duration
Opt for travel insurance plans as per your travel duration to ensure you get the best premium for your travel insurance without paying an excessive amount.
Compare travel insurance plans
Like all other insurance plans, comparing travel insurance plans offered by various insurers is a must before choosing the right travel insurance plan for your trip.
Travelling can be both fun and liberating and with the right travel insurance plan, it can be safe and secure against any emergencies. So choose the right travel insurance before you board that plane. Bon Voyage!
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