Tips for Choosing the Best Travel Insurance Plan In India
A mere thought of relaxing by the seaside or playing with your friends amidst the snow-capped mountains might give you a pump of adrenaline. However, there can be unanticipated incidents during the trip such as loss of baggage, medical emergencies, natural disasters etc. that may interrupt your trip.
Though it is a common tendency to brush aside the notion to buy a travel insurance policy, it is in times like these when it can come to your rescue. Before you buy a travel insurance policy, it’s important to assess your needs and requirements carefully. Here are some useful tips that can assist you in selecting the best travel insurance plan for yourself:
- Choose a policy that covers your destination
While it may sound obvious, you must always check whether the travel insurance policy you’re about to purchase covers the destination that you’ll be traveling to. Usually, a domestic travel insurance plan covers trips undertaken within the home country, whereas, an international travel insurance policy has to be purchased if you’ve planned a trip abroad.
Also, the travel insurance premiums are generally on the higher side for places like USA, Canada, Japan etc. where the medical treatment costs are significantly higher than other countries.
- Buy a single policy for the entire group
After the destination, next comes the group size of the travellers. The premium amount that you have to pay for your travel insurance largely depends on the number of travellers covered in the policy. If you’re travelling in a group, it’s advisable to buy a policy that will cover all the members of a group or family, including children.
Also, remember that it’s always cheaper to buy a bundled travel insurance plan for the entire group or family, rather than taking individual policies for each member.
- Opt for a multi-trip policy if you travel frequently
Another important factor that should be considered before zeroing in on a particular travel insurance plan is the frequency of your trips. Depending upon your travel frequency, you can either choose a single-trip or multi-trip policy.
While a single-trip policy will cover you only for a solitary trip, a multi-trip policy can come handy if you have to make recurring trips in the same year.
- Consider the coverage of the policy, not just price
When it comes to buying travel insurance, the premium amount that you have to pay for it often ends up as the deal breaker. However, this strategy might prove to be a costly one if your policy fails to rescue you out when you needed it the most.
Hence, it’s advisable to buy a comprehensive travel insurance plan that will cover the most important scenarios such as loss of baggage and passport, medical emergencies, trip cancellations or interruptions etc.
- Buying it online can fetch you a better deal
The best way to buy travel insurance is to purchase it online. There are many insurance companies that facilitate the online purchase of travel insurance, thereby making the process simpler and more convenient.
Moreover, buying travel insurance online can also fetch you a much better deal from the insurer since it will save you a significant amount of money on the administrative front, agent’s brokerage, labour charges etc.
Also, it’s better to supplement your basic travel insurance policy with add-on covers to enhance the coverage and ensure a superior security of your loved ones. You can choose from a range of travel-related insurance plans such as Road Trip Cover, Domestic Travel Insurance, Personal Trip Liability etc. offered by Bajaj Finserv under its Pocket Insurance category.
These short-term insurance plans are designed to address specific requirements of the policy buyers and can be availed by paying a very affordable one-time premium.