Travel Insurance

What is Travel Insurance?

Travel insurance is a type of policy that offers you financial help in case of an emergency while you’re travelling; abroad or locally. It covers a range of scenarios, including medical & dental emergencies, theft of your money or passport, flight cancellation and misplaced or lost luggage, vacations, business trips, and even educational trips.

The best travel insurance offers coverage against a range of emergencies, medical or non-medical, all offered in exchange for an affordable premium. Benefits include compensation for the theft of your money or passport, medical evaluation, delay in checked-in baggage, missed connections, etc.

In case of urgent emergencies, the policy also helps with medical evacuation and repatriation, financial emergency assistance, and so on. There is also travel insurance with COVID-19 coverage that requires minimal paperwork.

Right from your first flight to the stay and the return journey, you can ensure a safe and hassle-free trip with travel insurance plans.

Features of Travel Insurance

When you go on a holiday, make sure you have the best travel insurance plan which provides the following features:

• COVID-19 Covers

  Many insurers have been providing this benefit because of the havoc COVID-19 brought upon everyone's travels. With so many safety restrictions and guidelines affecting our travel plans, most insurers will help you with any of the following emergencies:

  Trip Cancellation:
  You will be compensated by the policy if you, a traveler, or your immediate family member is diagnosed with the disease. In such a case, all your non-refundable and unused amounts like hotel booking, ticket costs will be taken care of.
  Automatic Extension:
  In case of a lockdown in your destination country, your travel insurance plan will be automatically extended up to the mentioned period.
  Accident and Sickness Medical Expenses:
  If you or anyone traveling with you is diagnosed with COVID-19 abroad, then your travel insurance plan will provide cover against any medical expenses required for the treatment.

• Baggage Covers

  With airlines misplacing baggage so often, it's only right that there is a safeguard you can turn to. Your travel insurance policy helps you in the following ways:

  Covers Lost Baggage:
  We already know or heard of someone losing their baggage while traveling. Flights often mishandle luggage, or worse it may be stolen. Luckily, if you buy a travel insurance plan, you will get help with the costs of necessary personal expenses like clothing, medicines, and toiletries.
  Covers Delayed Baggage:
  In case your baggage is delayed for some reason, the policy will pay for the cost of any necessary items that need to be purchased until you get your bag back.

• Medical Covers

  What is worse than falling sick while traveling? Especially during a holiday when you have got a budget to stick to. Here is how travel insurance will assist you in case of medical expenses:

  Medical Emergencies:
  If you need medical assistance due to an accident or sudden illness, your policy will deal with any financial requirements.
  Medical Evacuation or Repatriation:
  If you're hospitalized abroad and need to be evacuated back to India, or if you are unfortunately in a fatal accident, the policy will take care of the costs required in repatriating your remains back to India.
  Study Interruption:
  This one is especially for students abroad. If they can't complete their studies because of listed reasons, their unused tuition fee will be reimbursed.
  Compassionate Visit:
  If you're hospitalized abroad and need someone from your family to come to help you, your policy will provide a two-way ticket for them.

• Journey Covers

  The policy will assist you with any emergencies that you may face while traveling. Some of these are briefly discussed below.

  Travel Assistance:
  New city or new country; your travel insurance plan will provide you with every urgent assistance ranging from legal help to steps to get your duplicate passport.
  Policy Extension:
  If because for some reason your trip is extended and your flight is delayed for some days, then your policy will be extended for a fixed time period.
  Flight Delays:
  If your flight is delayed by more than 12 days due to certain reasons, the policy will compensate for any additional costs that you had to furbish caused by this situation. 

• Add-On Covers/Optional Covers

  Nowadays, you can easily personalize your travel insurance plans by selecting from a range of ‘extra benefits’ that are called option or add-on covers. These are to be purchased at some extra premium but go a long way to protect you from specific risks that are otherwise not offered by the usual plans.

  Adventure Sports Cover:
  This add-on will let you freely enjoy winter sports, adventure activities, etc. when you are on a trip abroad. Any medical expenses caused due to these activities will be taken care of, as per the policy schedule.
  Emergency Cash Advance:
  If you, unfortunately, lose your baggage or are a victim of theft, this optional cover will provide some relief through emergency cash meant for your immediate necessary expenses while you're there.
  Home Burglary Insurance:
  To help you leave behind your troubles, this add-on will protect your house from any loss caused by break-in or theft while you are outside the country.
  Emergency Hotel Accommodation:
  If your trip is extended due to any urgent reason, this optional coverage will provide reimbursement for your additional accommodation expenses.
  Maternity and Baby Cover:
  Most policies don't provide any benefits to pregnant women traveling. This add-on is curated for traveling mothers-to-be so that they are protected since day one of their journeys.
  Escort for Minor Child Cover:
  This add-on will provide coverage for expenses if you carry a minor or a baby along with your flight.

• Travel Insurance Portability

  This is a comparatively new feature that is now being offered by several travel insurance companies in India. This feature lets you switch to another insurance provider without losing any of the previous benefits that your existing travel insurance policy offered. The process requires certain steps:

  Inform your insurer about the portability requirements You must inform them in advance, which can be a month or as per the period specified

  However, please note that the premium may vary as per the new insurer's discretion. 

Advantages of Buying a Travel Insurance Policy

In recent times, there has been a paradigm shift in the perception of travelling. For many people, travelling is an escape from their everyday stressful and monotonous life. This makes insuring your journey even more prudent to cover yourself from any unfortunate incident that has the potential of spoiling it or causing losses.

If you are still weighing your options, take a look at what the best travel insurance offers you:

• Emergency Medical Expenses - The cost of medical treatment abroad is not the same as in India and is famous for skyrocketing medical services. But if you have insured your journey, all your medical expenses will be covered up to the sum insured limit in case of hospitalization due to an illness or accident abroad.
• Cashless Treatment Facility - If your trip is covered with travel insurance, being admitted to a network hospital can help you avail of cashless medical services across the globe.
• Fulfils Mandatory Requirement - Several countries around the world have made it mandatory to possess valid travel insurance to apply for a visa for that country, for example, Schengen countries. So if you want to visit any such country, you will be able to obtain a visa only after buying one of the best travel insurance plans available in India.
• Helping Hand in Remote Areas - Insuring your journey can turn out to be useful even if you are travelling to remote parts of India or abroad. In case you need emergency medical services in areas with poor medical facilities, your insurer can evacuate you to the nearest city or country and help you get medical treatment on time.
• Protects the Entire Family - A family travel insurance not only offers protection to you but to each member of your family while travelling. Most insurance companies allow you to choose the sum insured on an individual and family floater basis. They also offer customized coverage to travelers of all ages, be it an adult, child, student or senior citizen.
• Global Coverage - Most travel insurance policies provide global coverage with no matter which country you are travelling to.

There are a variety of travel insurance plans available with different benefits and features. Don’t forget to compare the best travel insurance plans online before buying one.

Eligibility Criteria for Travel Insurance Plans

In the below table, the basic eligibility criteria for different types of travel policies offered by insurance companies in India are mentioned:

*The eligibility criteria may vary from one insurance provider to another.

Why Should You Buy Travel Insurance Online?

In this digital era, buying travel insurance policy online comes with several benefits. Take a look at some of the reasons why you should buy travel insurance online:

• Convenient

  Buy travel insurance policy online is more convenient as you can purchase it from your home/office at any time. All you need is a mobile or laptop to secure your trip with a travel policy.

• Online Plan Comparison

  When buying travel insurance online, you can easily compare travel insurance plans offered by different insurers in one place. This is necessary because multiple insurance companies are offering impressive travel plans that can make it difficult for you to choose the best plan. Online plan comparison can help you to identify the most suitable plan for your trip at a pocket-friendly price.

• No Need for Insurance Agents

  You no longer need to rely on an insurance agent to buy travel insurance. You can find the best travel plan within your budget on your own by comparing different plans online.

• Affordable

  Buy travel insurance online is more affordable as you do not need to contact an agent or visit the insurer’s office. In fact, insurance companies charge lower premiums online as their operational costs also reduce.

• Minimal Documentation

  While purchasing a travel policy online, you do not need to fill several forms and submit multiple documents. All you need to do is fill up your details on the online form to buy the policy.

• Contactless Buying 

  In this era of the COVID-19 pandemic where social distancing is the norm, you can buy a travel insurance policy online without coming in contact with any person. You also don’t need to submit any hard copies of documents while you buy travel insurance online.

• Instant Policy Purchase

  The process of buying travel insurance online is faster as the policy is issued almost instantly. You also don’t need to visit the insurer’s office to buy your policy. A travel insurance policy is designed to cater to the needs of every traveller whether flying domestic or international and safeguard them against any financial loss in case of unforeseen event/mishap. With so many alternatives available in the market, let us have a look at the key features of a travel insurance policy provided by general insurance companies in India:

• Emergency Hospitalization & Medical Treatment

  Nobody can rule out the possibility of a medical emergency while travelling. By insuring your journey, you can stay assured as all your hospitalization and treatment expenses will be taken care of by your insurer.

• Compensation for Flight-Related Adversities

  Facing any adversities related to your flight is very common and chances of facing it increase if you are travelling abroad. Whether there has been a flight delay leading to a missed connecting flight or a delay or loss of baggage by your airline, your insurer will compensate for the losses you have incurred.

• Trip-Related Adversities

  Nobody knows when an emergency can hinder your travel plans and would force you to delay or cancel your trip. Travel insurance provides coverage for unforeseen trip delays or trip cancellations.

• Cashless Hospitalization Facility

  If you get hospitalized or are availing medical treatment at an empanelled hospital of your insurer, you can receive cashless treatment service under your international travel insurance plan in which all your medical bills will be settled directly by your insurer. You would not have to pay at the hospital for any covered treatment.

• Customized Policies for Senior Citizens

  While travelling, the needs of senior citizens are way different from the needs of other kinds of travellers. Taking cognizance of this fact, most insurance companies offer customized travel insurance policies for elderly people who are travelling within India or abroad.

• Available for Frequent Flyers

  Buy travel insurance policy for each journey can turn out to be pretty expensive for people who travel frequently or multiple times in a year. To ensure that such frequent flyers enjoy the perks of travel insurance plans on each journey without spending a fortune, insurance providers offer multi-trip policies with a year-long validity.

Types of Travel Insurance Plans in India

While buying a travel insurance policy is important to ensure a hassle-free journey, it is more crucial to understand the various types of insurance policies offered to travellers in India before buying. Different types of travel plans have been designed to cater to the needs of people of all ages be it a child, adult, student or senior citizen.

Let us take you through the different types of travel insurance plans available in India:

• Domestic Travel Insurance

  This type of insurance plan is meant for people travelling within the geographical borders of India. It financially protects individuals as well as families travelling within the Indian states from unforeseen travel emergencies. It provides coverage including medical cover, loss of baggage and personal accident cover amongst others.

• International Travel Insurance

  This type of insurance plan covers individuals and families travelling overseas. It provides a wide range of coverage including medical expenses, dental expenses, financial cash assistance, flight delays, trip cancellation, loss of passport, personal liability, loss or delay of check-in baggage and hijack distress allowance. Several insurers also offer home insurance to the traveller’s house back in India as a part of this insurance plan.

• Schengen Travel Insurance

  It is a customized overseas travel insurance online plan that covers people travelling to one or more than one Schengen country. It protects the insured travellers from any unforeseen emergencies that may lead to incurring financial losses. Some of the most common coverage provided under this type of trip/travel insurance includes medical cover, loss of passport, delay in check-in baggage arrival, loss of check-in baggage, personal liability, personal accident cover and accidental death & dismemberment (common carrier).

• Family Travel Insurance

  This type of insurance plan is designed especially for families travelling overseas together. It usually covers the policyholder, his/ her spouse and his dependent children. The sum insured is mostly available on both individual and family floater basis. All insured members of a family can avail covers including medical expenses, loss of passport, personal liability, loss or delay of check-in baggage and many more.

• Senior Citizen Travel Insurance

  This type of insurance plan has been tailor-made, especially, for elderly people. Most travel insurance companies cover travellers above the age of 60 years under such policies just like health insurance. It protects such travellers from unpredictable financial emergencies, including medical expenses, dental expenses, repatriation of mortal remains, loss or delay of check-in baggage, medical evacuation, etc. just like an international travel insurance plan.

• Student Travel Insurance

  It is a student-friendly insurance plan that has been customized for Indians travelling abroad to study. It comes with an extended validity of up to 2 years. Apart from the basic coverage of an overseas travel insurance plan, it also provides the students with covers including sponsor protection, study interruption, medical evacuation, bail bond and two-way compassionate visit for the insured and the family member amongst others.

• Corporate Travel Insurance

  This type of insurance plan has been designed to cater to the needs of corporates travelling for business purposes. It usually has a validity of up to 1 year that allows the insured traveller to undertake several journeys. It includes covers such as flight delay, medical expenses, loss of baggage, missed connecting flight, etc.

• Group Travel Insurance

  It is a comprehensive insurance plan meant for people travelling together in groups. It is usually opted by people organizing tour groups, industrial training, official tours or pilgrimage tours. Many insurance providers offer such policies to people travelling within India as well as abroad. It usually provides personal accident and baggage cover. However, the exact extent of coverage depends on the insurer.

• Medical Travel Insurance

  It refers to the insurance plan that provides extensive medical coverage to insured travellers during their journey. It offers financial assistance in case a medical emergency occurs while travelling international and may lead to hospitalization. Such policies mostly cover hospitalization expenses, daycare expenses, dental expenses, medical evacuation expenses and the cost of repatriation of mortal remains amongst others.

• Multi-Trip Travel Insurance

  This type of insurance plan is meant for people who undertake multiple overseas journeys in a year. It offers the same level of benefits on every trip without the need to buy travel insurance online before each journey. Thus, a traveller ends up saving large sums of money by buy multi-travel insurance policy. It is mostly purchased by people who go abroad frequently for business purposes.

• Single Trip Travel Insurance

  This type of insurance plan provides protection to the insured traveller only for one single journey. Its validity begins with the start of the journey and ends with its culmination on returning home. This international travel insurance comes with a host of coverage that consists of medical cover as well as non-medical covers such as delay or loss of check-in baggage, personal liability, etc.

  Other Types of Travel Insurance Plans:

• Baggage Insurance

  Baggage Insurance comes into the picture when you lose your baggage during your journey due to theft or any other mishap. The losses incurred due to such mishaps might put you in some really big troubles and ruin your trip. In order to get compensated for the damage or loss to your luggage while travelling, you can always rely on baggage insurance.

• Flight Insurance

  It is a custom-made insurance plan that covers an insured traveller from any unforeseen flight-related emergencies faced while travelling. It protects him from any adversity caused during the flight or due to the fault of the airline or their staff. It provides comprehensive coverage of both health insurance and baggage insurance, which includes flight delay, medical cover, accidental death & dismemberment cover, delay or loss of check-in baggage, flight cancellation, flight hijack and missed connection flight.

Best Travel Insurance Plans in India by Top Insurance Companies

Take a look at some of the best travel insurance plans offered by top insurance companies in India:

How to Buy Best Travel Insurance Policy Online?

In the case of adversity during your trip, your insurance company will help you out. The challenge is to pick the best travel insurance policy amongst the plans provided by the different travel insurance companies in India. You must opt for an insurance policy that provides you with maximum coverage against the risks that you may encounter while travelling. It is better if you buy the insurance policy online as it is a faster, more convenient and hassle-free process.

Follow the steps given below to buy travel insurance online:

• Visit the website offering travel insurance
• Go to the option of buy travel insurance online
• Fill in the details of your trip in the form
• Choose the travel insurance plan you want to buy
• Pay the premium amount online
• Your travel insurance policy will be issued

What Does Travel Insurance Cover?

A travel insurance policy provides coverage for all primary concerns of a person while travelling, such as medical emergencies, trip cancellations, loss of checked-in baggage, travel delays, passport loss, etc. It mostly provides comprehensive coverage to travellers against any event that may lead to financial loss before or during the trip.

Take a look below to understand the various travel insurance coverage:

• Cover for a Cancelled Trip: A trip cancellation coverage will shield you from any prepaid or non-refundable expenses in case your journey is cancelled due to the following circumstances:

• Any major illness/injury or demise within the family or of your journey companion
• Bad atmospheric/weather conditions, which act as a barrier for you to reach the destination
• A terrorist attack at the destination where you are travelling

• Cover for Trip Delay: If in case your flight gets delayed or you miss your connecting flight because of a reason, which is beyond your control, such as a mechanical breakdown of the flight, bad weather condition, and so on then having this cover will secure you for the incurred expenses.
  Moreover, this cover will also compensate for the meals and accommodation-related expenses as per the delay period.
• Loss of Passport: While travelling abroad, there can be a situation where your bag that had your passport gets stolen. This cover will reimburse the expenses incurred towards obtaining a new or duplicate passport up to the sum insured limit.
• Repatriation of Mortal Remains: If unfortunately, the insured dies in the middle of his/her trip, it could be heartbreaking for the family. Besides, bringing back the mortal remains of the demised person could be a challenging task and financially draining as well. Completing the formalities in regards to the same will also become a task.
  However, a cover for repatriation of mortal remains will take care of these challenges and the deceased’s mortal remains will be brought to the country completing all the formalities associated with it and cover the expenses incurred towards the same.
• Cover for Delayed/Loss of Baggage: This is an international travel insurance coverage, which should be opted for by every traveller, as it will protect you in case of the loss of any of your items or delay in checked-in baggage delivery by the common carrier.
  Having this benefit will not cover the actual price of the items that are delayed. But in case of complete loss/damage of the luggage, you will be reimbursed to replace the items lost. The coverage may vary from insurer to insurer in India.
• Cover for any Medical-Related Emergency: There is a possibility that you might get sick or injured while you were on a vacation abroad. Having medical-related emergency coverage will secure you from any cost incurred on any treatment or hospitalization while travelling.
  Having this coverage essentially includes any ambulance related services, physician or medical consultant services, diagnosis charges, hospital charges, and so on just like health insurance.
• Emergency Medical Evacuation: This coverage helps you when you need immediate medical assistance/ attention. It ensures that a transport arrangement is made for a nearby hospital under a medical emergency and if required, you will be sent to your native country on medical grounds as per the discretion of the doctors.
• Hijack Distress Allowance: On the off chance, having this insurance coverage will provide you with compensation in case your flight/ common carrier gets hijacked causing distress to you.
• Compassionate Visit: If you fall ill/sick and are hospitalized during your trip, an immediate family member may be required at the foreign location as per the medical practitioners. Here this cover will come useful as it will pay for the expenses incurred towards the transportation and accommodation for your immediate family member while travelling.
• Accidental Death and Disability: If under any unfortunate circumstances, the insured passes away or suffers a disablement whether permanent or temporary, having this coverage will provide compensation up to the sum insured to the family for the loss.
• Home Burglary - If your house gets burgled while you are vacationing outside the city, your insurer will pay for the loss or damages incurred due to the robbery up to the sum insured limit.

Exclusions of Travel Insurance Plans

Most travel insurance policies do not cover any claims arising out of the following reasons:

• Liquor, Drugs - Any claims arising due to dependency on intoxicants, including alcohol or drugs, will not be covered by your insurer. Even treatment expenses for injuries or illnesses caused while you were under the influence of alcohol will not be covered.
• War, Civil War or Terrorism - The insurer will not cover any claims arising due to war-like situations including a civil war in the country that you are visiting. It also does not cover any claims arising due to terrorist attacks in the destination country or city.
• HIV AIDS - Treatment expenses for HIV AIDS is usually not covered by most insurers in India.
• Alternative treatment - Most travel insurance does not cover alternative treatment expenses including Ayurveda and homeopathy.
• Cosmetic Treatment - Any claims arising out of your cosmetic surgery will not be covered by your insurer.
• Adventure Sports - Many insurers do not cover any claims arising out of your participation in adventure sports activities including scuba diving, mountaineering, bike race, etc.
• Suicide or Self-Inflicted Injury - Any claims arising out of an injury or treatment related to a self-inflicted injury, including suicide or attempt to suicide, would not be covered by your insurer.
• Pre-existing Diseases - Even the top insurance companies in India do not cover pre-existing diseases under travel plans.
• Loss of Passport When Left Unattended - An insurance provider will not cover the expenses incurred on obtaining a new or duplicate passport if you lose your original passport abroad because of leaving it unattended.
• Loss of Baggage Shipped Separately - An international travel insurance policy will not cover baggage loss if your luggage is shipped separately and is not accompanied by you.
• Travelling Against Medical Advice - If you are travelling outstation or abroad against the medical advice of the doctor, then any medical treatment expenses incurred while travelling will not be covered by the insurer.

Additional Coverage under Travel Insurance Plans

Many travel insurance policies offer add-on benefits if you opt for additional coverage. These benefits can be chosen for an extra precautionary layer of protection. These additional covers can be obtained while purchasing the best travel insurance online on payment of an extra premium amount to the insurance company.

Here are a few optional/ add-on coverage that can be purchased at the time of insuring your journey:

• High-risk/adventure sports activities
• Coverage for visiting war-prone destinations
• Pre-existing illnesses/ conditions
• Enhanced Accidental Death and Dismemberment (AD&D) cover
• Third-party supplier insolvency

How to Calculate Travel Insurance Premium Online?

A travel insurance policy is an extremely important document if you wish to stay financially protected from any eventualities while travelling domestic or international. Every traveller should opt for a policy that provides maximum coverage for the least possible premium.

In order to find out the premium payable for a particular travel insurance plan by an insurance provider, you would have to use a travel insurance premium calculator. A premium calculator is an internet-based tool that gives you an estimate of the premium cost for a particular insurance plan. Make sure to use this calculator before you buy the best travel insurance online.

An insurance premium calculator will give you a premium estimate if you enter the required details including the sum insured amount, age, destination city/ country, frequency of travelling, dates, etc. While entering the destination details, select specific countries or areas like Schengen, Asia, USA and Canada, etc as per your destination. You might have to enter the dates on which you will be travelling and whether you need a single or multi-trip policy. You will also be required to enter the number of travellers as well as the age of all the travellers.

After you have entered all the details, the insurance premium calculator will give you an estimated premium amount for your journey. Moreover, this premium calculator also comes in handy to compare different travel insurance policies offered by various insurance providers.

A travel insurance calculator uses a few parameters to estimate the premium of a travel plan.

Parameters that Affect Travel Insurance Premiums

• Age - The age of the traveller impacts the premium of a travel policy. The higher is the age of the traveller, the more will be the premium. That’s because older people are more prone to life-threatening risks as compared to younger people.
• Destination - The travel destination also impacts your premium amount. If you are travelling to a high-risk country, your chances of facing adversities are more. As a result, the insurer will charge you a higher premium amount.
• Trip Duration - The duration of your trip impacts your premium. The longer is your trip duration, the higher will be your travel insurance premium.
• Number of Travellers - The policy premium is also directly proportional to the number of travellers. This means the premium of a policy covering one person will be lower than the premium of a policy covering the entire family.
• Add-On Covers - If you opt for add-on covers under your policy, your premium amount will increase. The more will be the number of add-on covers, the higher will be your travel insurance premium.

Tips to Lower Your Travel Insurance Premium

Travel insurance can come in extremely handy if you encounter an emergency during your trip. You can use the tips given below to lower your travel insurance premium:

• Buy Early - Buy travel insurance policy well in advance can help lower your premium. If you buy the policy early, you are considered a responsible person and are charged a lower premium.
• Customize Your Policy - Try to customize your travel policy as per your requirements so that you only have to pay for the coverage that you need.
• Multi-Travel insurance for Frequent Flyers - If you need to travel multiple times a year, it is more affordable to buy a multi-travel insurance policy with a year-long validity than buying an individual policy for each trip.
• Opt for Family/ Group Travel Plans - If you are travelling with your family or in a group, you must opt for family travel insurance or group travel insurance respectively as they are more cost-effective.

Claim Procedure for Travel Insurance Policies

Buying the best travel insurance is not your only responsibility as a traveller. You should also be aware of the procedure to file a timely insurance claim. Moreover, you should be aware of the various coverage provided by your insurer.

It is important for all travellers to carry the original policy document along with multiple photocopies while travelling. The photocopies come in handy in case the original document gets lost or destroyed. You should also carry the soft copy of the document and store it in your email, phone, laptop or carry it in a pen drive.

Follow the steps given below to register a travel insurance claim in case an emergency occurs during your trip:

• Inform the insurer or the assistance provider of the insurer via phone or email about your claim. The contact details of the insurer are always mentioned in the policy document
• Ask about the various documents that you need to submit in support of your claim. The list of documents to be submitted varies as per the type of claim
• Send all the required documents to the insurer via email, fax or post
• Once you have submitted the documents, your claim will be verified against the coverage provided by your travel insurance policy

How to Renew a Travel Insurance Policy?

A travel insurance policy can be renewed either online or offline, depending on your preference. Renewing your policy online is the most recommended method, whereas the offline method is considered a traditional one. Both methods have their own share of perks. Let’s have a detailed glance here!

• How to Renew Travel Insurance Policy Offline?

  If you are one of those people who don’t want to go ahead with the online method or are not gadget-friendly, offline renewal can be the best bet for you. Be prepared for a considerable amount of paperwork manually, which is one of the biggest differences between the two processes. Let’s know the steps for offline renewal of your travel policy:

  Step 1: Approach the Insurance Company

  Once the renewal date approaches, get in touch with your insurer. You can contact your insurance advisor or the agent from whom you have bought the policy. He/she will guide you through the renewal process.

  Step 2: Review the Existing Cover

  This is the best time to review your coverage. If you want to add something, you can do it now. You can also ask the agent to update the changes or directly visit the branch for the same.

  Step 3: Fill the Application

  Once you have decided the additions you want to make, if any, fill an application form and submit it along with the physical copies of the documents required. Documents usually required include original or photocopies of ID/address proof, policy document, etc. The list may vary from provider to provider. Do read the policy document, clauses and other terms and conditions carefully before paying the premiums.

  Step 4: The Final Step

  In the last step, pay the premiums via cheque. Remember to address the cheque in the name of the insurer, not the broker or agent. The insurer will deliver the policy document to your mailing address within a stipulated period.

• How to Renew Travel Insurance Online?

  If you find the offline process of renewing your travel policy tedious, you can renew it online. Let’s consider the steps for the online renewal of your travel policy:

  Step 1: Visit the Insurer’s Website

  If you want to stick to the same insurer and renew the existing policy online, just visit the official website and go to the renew option. Go through the available insurance policies once and add the additional covers if any.

  Step 2: Pay the Premium

  Make the premium payment through any of the given options such as net banking, credit or debit card etc.

  Step 3: Get the Policy Soft Copy

  On successful payment of your premium, the insurance provider will send the soft copy of the policy to your registered email id. You can download it from there and keep it for future use.

  In case you are planning to switch the insurer or the policy, you are advised to shop around, compare travel insurance policies by different insurers before buying.

Travel Insurance Policy Renewal Tips

Travel insurance financially secures your most anticipated trips from any unwanted hassles. However, it is important to get insured with the right insurance plan. Here are some tips to renew the right travel insurance policy:

• Renew a policy that suits your travel requirements
• Opting for a low-premium policy may leave you underinsured
• Go for the policy that also covers your close ones
• Try to customize the insurance benefits as per your needs so that you only pay for what you need
• Consider the geographical limit of your policy

Read and understand the policy fine print carefully before signing on the dotted line

Things to Consider While Buying Travel Insurance Online

An unfortunate incident may occur at any point in your journey and a wise traveller keeps his/her journey insured by buy the best travel insurance. In order to make an informed choice, you need to consider the following things while you buy travel insurance online:

• Purpose of the Journey - Keep the purpose of your trip in mind while choosing an insurance policy for your journey to receive the maximum coverage. For instance, if you are travelling for studies, you should buy student travel insurance online or if you are going to engage in adventure sports, you should select a policy that covers adventure sports activities.
• Traveller’s Age - Almost all insurers provide policies that suit the needs of travellers of different ages. For instance, senior citizen insurance has been custom-made to cover the adversities that the elderly are more likely to face while travelling. Thus, you should select policies according to your age.
• Sum Insured Amount - The sum insured amount is directly proportional to the premium cost. The travel insurance policies with higher sum insured draw higher premiums. Therefore, you must choose a sum insured amount that will adequately cover your travel needs in case of an unforeseen incident.
• Coverage Offered - Compare travel insurance and analyze the coverage provided by various insurers before you buy travel insurance online. Your insurance policy should cover you against most of the risks that you may face during your journey abroad at an affordable price.
• Destination - The place where you are travelling should definitely be taken into consideration while narrowing down an insurance plan for your journey. Many insurance providers offer destination-specific policies such as Schengen insurance for those travelling to the Schengen area. Make sure you are covered against any threats that you are likely to face while visiting your destination.
• Trip Duration - The duration of your journey plays a major role in estimating your premium amount. The longer the journey, the higher the premium will get. Choose a policy that charges a lesser premium for the total duration of your journey. If you plan to travel frequently, opt for a multi-travel insurance plan.
• Claim Settlement Ratio of the Insurer - Before you buy travel insurance policy for your journey, you should check the claim settlement ratio of different insurance companies. A company with a higher claim settlement ratio has settled more claims and thus, should be preferred while buying travel insurance online.
• Credibility of the Insurance Provider - It is important to research about the credibility and goodwill of the insurance company at the time of selecting an insurance policy for your journey. A company that enjoys goodwill in the market can be considered reliable and will mostly settle the claims on time. Thus, you must opt for a travel plan by an insurance company that enjoys goodwill in the market.
• Affordability - The best policy is the one that provides the maximum coverage at minimum cost. Make sure to choose a policy that is economical but provides all crucial coverage against the risks you are likely to face during your trip.
• Hassle-Free Claim Procedure - While choosing an insurance policy for your journey, find out about the claim procedures of different insurers. Complicated claim procedures will be more of a hassle at the time of settling the claim. You should choose an insurer with the quickest and the most convenient claim process, preferably online.
• Solvency Ratio - You should also check the solvency ratio of an insurance provider before buy travel insurance online. A company with a good solvency ratio has a sound financial standing and has lesser chances of going bankrupt.
• Add-On Covers - You should be mindful while opting for add-on covers under your travel policy as they will impact your premium. The more are the number of add-on covers, the higher would be the premium. Therefore, you should only opt for add-on covers that are really necessary for your trip.
• Minimum Coverage Amount - Certain countries require a minimum travel insurance coverage amount to obtain their visa. For instance, you need to have a minimum travel insurance coverage of 30,000 Euros to obtain a Schengen visa. Make sure to check the guidelines relating to the travel insurance requirements before buying your policy.
• Medical Conditions - Before you buy a travel policy, you must check the medical conditions that are not covered under the policy. This eliminates any element of surprise later and keeps you informed about what are you being covered for.

When, Where, and How to Choose Travel Insurance?

Before you buy a travel insurance plan, make sure you give it a lot of thought and weigh your options. Let's have a look at some of the most important things to consider before you buy a travel insurance plan:

• Travel Frequency

  There are different types of plans made for frequent and non-frequent travelers. If you are a frequent traveler, you are better off with a multi-trip travel plan that will be cheaper and save you the hassle of buying it again. Otherwise, it is better for you to go for a single-trip plan which covers you for the entire duration of your journey. These can be easily bought online without any prior medical checkup unless specified.

• Travel Destination

  Depending on where you decide to visit, your policy will differ. Whether it is an international trip or a domestic trip, whether going to the US or a Schengen territory; these things will narrow down your requirements which will also cost you differently. Also, many countries need an international travel insurance plan in order to issue a visa so your sum insured and other requirements will vary significantly along with the premium.

• Trip Duration

  Most important to get trip insurance is to first fix the dates of your journey. Your policy will be calculated and issued according to the length of your stay. In most cases, people opt for a policy with a duration slightly exceeding their total trip duration so that any sudden changes can be accommodated without costing you an extra premium.

• Number of Travelers

  You can buy an individual policy if you're traveling alone, or make it into a family floater if your loved ones are going too. The insurer should be informed about the total number of travelers and some important details before you buy the travel insurance policy.

• Claim Procedure

  Perhaps the most important thing to remember if you are buying a policy. Make sure you have read about the insurer, their claim-settlement ratio as well as any claim limits they have set with various benefits. Each policy has a certain limit up to which they will pay for your claims. Even in case of medical emergencies, you will have a certain limit up to which you can file a claim. You will need to pay the difference if it does exceed the limit.

  Hence, depending on the place and duration of your travel, assess all risks and purchase the best possible travel insurance plan so that there are no disappointments later. Don’t forget to compare different plans and check which one offers you the most benefits at the best price. You can make up your mind to buy the best travel insurance plan online at Policybazaar.com once you’ve compared them thoroughly.

Decoding Travel Insurance Terms

Here are some terms simplified for you to better understand travel insurance wordings:

• Sum Insured

  In case of any unfortunate event occurs (for which you are covered), your insurer will give you a certain amount. It is also the maximum amount that you will be paid. You are entitled to this amount which is the maximum coverage under your travel insurance plan.

• Reimbursement

  If you’re in an emergency and have no time to wait for your insurer, then you can pay the expenses out of your pocket first later get reimbursed by your insurer. You will be compensated for all your costs as per the limits of your policy.

• Single-Trip Plans

  If you’re not a frequent traveler, you’re more likely to have a single-trip travel plan. This type of plan provides coverage for only one trip up to the decided date.

• Multi-Trip Plans

  These are made for people who travel frequently. Multi-trip travel insurance plans cover all the trips under the predetermined period (usually 1 year) and don’t need to be purchased every time.

• Family Floater Plans

  As the name says, family floaters are plans designed for families. They offer many benefits that extend to every member of the family as per the policy terms. This can be usually bought for the insured’s spouse, dependent children, and often older parents.

• Sub-limits

  These are additional limitations under any coverage offered by your travel insurance policy. Sub-limits are applicable to some insurable losses and exceeding them will require you to pay the difference. For example, hospital room rent, ambulance charges, etc. have a fixed limit, exceeding which you will need to pay the additional amount.

• Deductible

  In some cases, you are required to pay some of the initial expenses in case of an insured event. This is to be paid out of your own pocket and will not be reimbursed. This amount is known as the deductible for that cover. The remaining expenses will be borne or reimbursed by your insurer.

• Cashless Settlement

  In many scenarios, while traveling, your insurer will directly pay for you in case you incur a loss or damage. This is referred to as cashless settlement through which many insurance companies in India settle claims abroad. This is most common during medical emergencies.

Compare Best Travel Insurance Online with Policybazaar.com

While buying travel insurance online, it is important to compare travel insurance policies offered by the different insurance providers in India. Policybazaar.com is one place where you can compare different travel insurance policies offered by various insurers online. It allows you to check the coverage offered by different insurance companies and the premium charged by them. You can also check which cover is omitted by one insurer and is provided by another provider.

Take a look at some of the benefits of comparing travel insurance online at policybazaar.com:

• Compare travel insurance policies offered by different insurers online at one place
• Analyze and find a policy that provides you with maximum coverage
• Side-by-side comparison of inclusions and exclusions provided by different insurers
• Helps to save your time by comparing policies from several insurers at one place
• Get quotes on premiums from different insurers before you buy travel insurance online
• Helps to save money by choosing the most cost-effective policy
• Allows you to buy an insurance policy for your journey online in an effortless and secure manner