How to choose the right travel insurance policy
Travel insurance policies vary widely in terms
of cost and cover. How can you be sure of finding a policy with the best value?
Since travel policies vary widely in terms of
the coverage, cost and the value of the add-on coverages that a customer is
offered, it would be nice if you could get some additional benefits in a policy
where the premium is paid for basic coverages only. Hence, it is important to
understand the travel insurance policy
before it is purchased.
Important Tips for
Choosing Travel Insurance
The following tips help you choose the best
travel insurance policy:
- A travel policy should compensate for the unforeseen
incidents that may occur during travel. This should include medical
expenses, personal accident, loss of baggage, travel delay, etc.
- It should be accompanied with a unique feature such as
easy extension of the period of cover. Similarly, if you are cutting short
the period of travel, check if the travel policy entitles you for a refund
(As the stay can be either extended or reduced).
- Companies which offer less medical cover on travel
plans often provide less indemnity to a customer. Hence, one has to be
more cautious about the medical cover being offered. Do not be fooled by
the cheapest cover as it might not meet your needs.
- Before you purchase a travel policy, it is important to
ask for a travel kit that includes the information about the plan opted
for or the brochure of that plan.
- It is also important to check whether the travel plan
offers cashless service for medical expenses or not. Also check if policy
provides the emergency cash service.
- Since the risk of travel increases with the increase in
the frequency of travel, any accident would often result in financial
burden on the family. Thus, it becomes important to choose the right
travel plan.
- The travel insurance policy should provide complete
personal accident benefit cover, including hospitalization.
These are some of the unique features that one
should look at before purchasing any travel policy.
Different Types of Travel
Plans
Given below are some important travel plans
which are customized to meet different customer needs:
1. Travel Companion
Check if there is a special type of travel
policy in which individual/family/senior citizens can be covered.
For example, a special overseas travel insurance online policy for
individuals traveling to Asia and if traveling abroad with your family, or a
special policy for senior citizens aged between 61-70 years which offers
the flexibility of cover for trips abroad ranging from 1-180 days.
2. Students Travel Plan
Every student wants to study abroad. To ensure
that the travel is risk-free, the students travel plan brings an array of
policies to choose from that provide a comprehensive cover for your journey.
Before buying, check if the policy gives you the
coverage for the basic risk threats. When choosing a travel policy, a student
should look for:
- Tuition fee
- Hospitalization
- Serious injury
- Personal accident
- Permanent disability
- Emergency dental pain relief
- Transportation in case of emergency
The policy should cover the travel cost of
the visit of family members including spouse, parent, sibling and in-laws.
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