Vacations are your time to relax. But, accidents don’t come with warnings, and that’s where travel insurance comes to bail you out.
Imagine, you’re on a vacation and contract food poisoning. You may end up spending a few days in a hospital, which could possibly cost you a pretty penny. How would you save yourself from such unexpected expenses? If you have a travel insurance plan, it will save you from such hassles so that you can enjoy your vacations to the fullest.
Although domestic travel insurance in India is yet another expense, without it, an unexpected event has the potential to wreak havoc both psychologically and financially. Travel insurance policy is a simple means to minimise losses and safeguard your belongings such as passport, luggage, etc.
Here is an exclusive guide to purchasing a travel plan and making sure that it offers ample coverage to all your travel plans.
A step-by-step handbook to buying the right travel insurance plan:
There are many insurance providers offering different travel insurance plans. How can you choose the best travel insurance policy for yourself? It’s easy. Just go to an insurance comparison portal and buy the most affordable plan as per your preferences and needs.
Comparison portals seem to have an enticing effect. A major chunk of people use these price-comparison websites to compare various insurance policies. There is a strong competition between the providers to keep the prices as low as possible in order to make sure that they top the search results.
The premium of a policy depends on the value of travellers’ luggage, their age, how risk-averse they are, how often they travel, and the type of travelling they do (if there are multiple exclusions and limitations pertaining to their outdoor activities).
Due to these variants, it is impossible to suggest the best policy for travellers. You should consider several factors if you plan to buy a travel plan.
Key Factors to be considered when buying Travel Insurance:
The factors mentioned below should be considered while buying a travel insurance plan:
If you have a medical history in terms of any serious ailment or disease, or if you consume alcohol or smoke on a regular basis, the premium is higher than usual. A regular travel insurance plan does not cover any pre-existing life-threatening disease. However, you can buy a rider or add-on for the same plan. In many cases, a policy for the elderly attracts a higher premium because of their age.
Wonder what multi-trip policies are? A multi-trip policy is a type of travel insurance plan that covers all the trips undertaken by you in a year. Though there is an applicable limit on the length of each trip, you only have to pay the premium once. Whether it is economical to purchase separate insurance plans for each tour or not, depends on how much travelling you aim to do in one year. If you undertake four or five tours a year, you can save more with multi-trip policy. The other important benefit of having a multi-trip insurance plan is that you’re covered throughout the year. You don’t have to look for new policies every time you plan to travel.
Covering Expensive Gear:
Many travel insurance policies have a value limit for every item. But, you should ensure that you select an insurance plan which allows you to boost the limit or the value limit is high enough to cover all your gear. Another option is to get in touch with the home insurance provider and check if you can get your items insured as portable valuable goods.
If you plan your trip to a high-risk or risk-prone area or plan to be involved in any popular adventure activities, you will have to pay a higher premium than usual.
You won’t be able to enjoy your expedition if you fall sick before you leave. You may come across various unforeseen issues or problems. Not all travel insurance plans cover cancellation of flights and accommodation, hence it is always recommended that you read the policy document thoroughly before making a decision.
Wrapping it up!
Don’t treat travel insurance as just paperwork. Analyse all the insurance providers and their offerings, such as network hospitals, claim settlement ratio, payment options, freebies and discount offers, etc., before deciding on the policy. You must thoroughly evaluate all the risks that might be involved in your upcoming trip and select the best plan in order to avoid glitches during the trip.
Above all, your dream of experiencing Australian Outback or celebrating your birthday in London must not be ruined by the events which are beyond your control.