Travel has become an important part of our lives. In the last few decades, international travel has become easier than ever. Nowadays, more Indians are choosing international destinations for holidays. Doing business on an international scale has become much easier for the people because of the ease of travel options available in the market.
With so many positives associated with international travel, it is obvious to have some negatives too. When it comes to international travel, there are a lot of things that can go wrong, such as delays in flights, riots, medical emergencies, theft, loss of luggage, terrorist attack, and more. In such circumstances, you may end up spending a huge sum on getting any sort of support. Indeed, you cannot have control over the health and surroundings, but if you have a travel insurance plan, the financial aspect of such circumstances can be controlled.
Buying the right travel insurance plan needs a lot of research. Depending on the destination, mode of travel, number of days, the reason for travel, and more, the plan can vary. Travel insurance plans are highly customizable. You should be aware of certain facts and aspects of such insurance policies before you buy one. Here are 10 tips for choosing the best Travel Insurance Plan Online.
1. Note down your requirements
The first thing you need to do is to list down the things you want to get coverage for in a travel insurance plan. Medical eviction, luggage cover, accidental cover, personal liability cover, etc. are some of the important aspects of the travel insurance cover that you should opt for. Some of the important coverage is available using add-ons. Please keep in mind to check the list of add-ons to get the best possible cover.
2. Annual travel cover for frequent flyers
If you are making more than three international trips, there is an option for an annual travel insurance plan as well. Such policies provide adequate travel insurance cover at a discounted price. It is ideal for businessmen and people who travel extensively for work and leisure.
3. Look for exclusions
There are many travel insurance plans available that are dirt cheap. Many travel agents often ask you to buy cheap policies. However, these policies only cover a fraction of aspects of an international trip. For example, if you suffer a heart attack or a stroke while traveling, a cheap insurance policy may not provide medical cover. It is important to check the list of inclusions and exclusions before you decide on buying a travel insurance plan.
4.Adventure sports coverage
Most of the travel insurance policies do not provide cover for adventure sports such as scuba diving, mountain climbing, horse riding, and more. If you are planning to enjoy the adrenaline rush of adventure sports, it is better to check if the travel insurance plan you are opting to cover them or not. Please choose the cover that provides financial support in case of an injury while you enjoy some adventure sports.
5. Look for the destination list
Many travel insurance plans exclude specific locations that have a higher risk factor involved. In case you are visiting a country that has a higher rate of riots or anti-social activities, it is better to check the list of countries included under the travel insurance plan.
In order to reduce the premium cost, people often do not declare the luggage while buying insurance policies. Please note that the insurance policy can cover damage only if it is listed in the contract. If you have not declared a valuable that you will be carrying with you, the insurance company will not provide cover for it. Such items include jewelry, electronics, expensive personal items, and more.
The insurance companies have tie-ups with hospitals and other service providers across the world. They have such associations to help the customers with different services like emergency evacuation, hospitalization, emergency return to home, and more. When you are buying a travel insurance plan, it is important to see if the plan covers such services. Insurance companies that provide such services have 24/7 helplines open for the customers where you can call and get assistance. Such services come in handy in situations like luggage delay or theft, medical emergencies, natural or man-made calamities, and more.
8. Financial protection in case travel agency goes bankrupt
It sounds farfetched, but if you have read about the case that happened with Thomas Cook and other travel companies in the last few years, it all looks possible. In adverse conditions, the travel company that you have booked the package with may go bankrupt which means when the time comes for you to travel, there will be nothing booked on your name, but you might have already paid for the services. In such cases, the travel insurance company will provide cover for the financial loss. Please make sure that the insurance plan you are opting for has this option.
9. Compare the plans
The best aspect of buying a travel insurance plan online is that you have the option to compare the plans available and choose the one that suits you the best. You can either compare on the insurer’s website or check insurance aggregators.
10. Check what is covered by the health insurance and other policies you have
One of the features that are covered under a travel insurance plan is against theft back home. However, if you have a home insurance plan, such coverage can be dropped while customizing the travel insurance plan. There are many other aspects that other policies might be covering already. By cross-checking those aspects, you can reduce the cost of the travel insurance premium.
Choose online to save money
When you buy an insurance plan online, the insurance company will offer you a discount on the premium as there are no middlemen or agents in the process. The money insurance companies save passed on as a discount for the customers. There are many benefits of buying insurance plans online, and by keeping the tips mentioned above, you will be able to buy the best possible cover for your trip.