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Last Updated : Jun 26, 2018 06:39 PM IST

5 tips to choose your travel insurance plan wisely

If your travel insurance is right, it can save you a fortune given high medical expenses overseas in case of an emergency.

Travel insurance for domestic and foreign journeys is somewhat seen like a waste of financial resources by Indian travellers. The general presumption that nothing untoward would befall the travellers is rampant, often undermining the real importance of why every traveller must get his journey insured.  Welcome to the world of actualities, where eventualities don’t come knocking. Buying travel insurance for your journey, especially abroad, is a crucial aspect of planning a trip that needs to be taken seriously.  If your travel insurance is right, it can save you a fortune given high medical expenses overseas in case of an emergency. It can come in handy in case a flight is delayed or cancelled, taking care of any unexpected financial stress.  The trick lies in buying a foolproof travel insurance that pays-out on time in case things go wrong. The eternal question, whoever remains: How to decide and find the right travel insurance that suits all your requirements.
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Travel insurance for domestic and foreign journeys is somewhat seen like a waste of financial resources by Indian travellers. The general presumption that nothing untoward would befall the travellers is rampant, often undermining the real importance of why every traveller must get his journey insured. Welcome to the world of actualities, where eventualities don’t come knocking. Buying travel insurance for your journey, especially abroad, is a crucial aspect of planning a trip that needs to be taken seriously. If your travel insurance is right, it can save you a fortune given high medical expenses overseas in case of an emergency. It can come in handy in case a flight is delayed or cancelled, taking care of any unexpected financial stress. The trick lies in buying a foolproof travel insurance that pays-out on time in case things go wrong. The eternal question, whoever remains: How to decide and find the right travel insurance that suits all your requirements.

Answering the ‘why’: A good travel insurance plan secures you from pitfalls, right from trip cancellation to delays and loss of baggage or passport. If you have bought a non-refundable airfare and have a long travel itinerary, it is wise to get travel insurance.  If you travel often, it is better to get annual cover that will be a cheaper option than buying one close to the date of journey. Such an insurance plan will cover all personal and business travel requirements. In case you meet with an accident or have a medical emergency, travel insurance saves you from shelling out thousands of dollars, thanks to cashless payments offered by most companies.
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Answering the ‘why’: A good travel insurance plan secures you from pitfalls, right from trip cancellation to delays and loss of baggage or passport. If you have bought a non-refundable airfare and have a long travel itinerary, it is wise to get travel insurance. If you travel often, it is better to get annual cover that will be a cheaper option than buying one close to the date of journey. Such an insurance plan will cover all personal and business travel requirements. In case you meet with an accident or have a medical emergency, travel insurance saves you from shelling out thousands of dollars, thanks to cashless payments offered by most companies.

The right plan: Usually, policies cover loss of baggage, trip delays, hijacks, medical emergencies, injuries during a trip, etc. Many of them also cover trip cancellation, burglary when you are away, personal liability, dental procedure and trip curtailment. Compare policies online on various websites for what all is covered and read the fine print carefully.  Do check the place of travel for the kind of travel expectations and experiences before zeroing-in on your insurance plan.
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The right plan: Usually, policies cover loss of baggage, trip delays, hijacks, medical emergencies, injuries during a trip, etc. Many of them also cover trip cancellation, burglary when you are away, personal liability, dental procedure and trip curtailment. Compare policies online on various websites for what all is covered and read the fine print carefully. Do check the place of travel for the kind of travel expectations and experiences before zeroing-in on your insurance plan.

. Determine the cost: Factors such as duration of the trip, age, optional add-ups and people travelling determine the cost of travel insurance. You should buy it when money is at risk and the best time to get one is at least one year before the departure date. Buying travel insurance early can assure you maximum coverage, especially when you have pre-booked everything such as tours, taxis, hotels, cruise, etc.
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. Determine the cost: Factors such as duration of the trip, age, optional add-ups and people travelling determine the cost of travel insurance. You should buy it when money is at risk and the best time to get one is at least one year before the departure date. Buying travel insurance early can assure you maximum coverage, especially when you have pre-booked everything such as tours, taxis, hotels, cruise, etc.

Free look period: In case you wish to cancel a travel insurance plan, you can do it within a few days of purchase, which is known as the free look period. Typically, companies have a free look period of 14 days.
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Free look period: In case you wish to cancel a travel insurance plan, you can do it within a few days of purchase, which is known as the free look period. Typically, companies have a free look period of 14 days.

Documents required: In case of an untoward incident and you seek claim, there are a number of documents you will need to submit. The insured person has to submit the hospital discharge form, medical investigation reports, stamped visa, medical bills, and photocopy of their passport. So, always keep a photocopy of your passport handy, as in case you lose the original one, you can produce the copy.  This may seem like a minefield, but it doesn’t mean you refrain from availing a travel insurance. With age, travel insurance can become expensive and if you wish to fly every year, buying one early is advisable.
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Documents required: In case of an untoward incident and you seek claim, there are a number of documents you will need to submit. The insured person has to submit the hospital discharge form, medical investigation reports, stamped visa, medical bills, and photocopy of their passport. So, always keep a photocopy of your passport handy, as in case you lose the original one, you can produce the copy. This may seem like a minefield, but it doesn’t mean you refrain from availing a travel insurance. With age, travel insurance can become expensive and if you wish to fly every year, buying one early is advisable.

First Published on Jun 26, 2018 06:39 pm
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