Making a Trip? Crack the Cheap Travel Insurance Deal!
- DetailsWritten by PolicyBazaar -
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Updated date : 18 February 2020
Are you somebody who loves travelling? Or someone who loves going on solo trips and travelling to exotic international destinations? Or maybe your job profession involves extensive travelling from one country to the other.
Regardless of whether you are a solo traveller, globe trotter or you are going for a leisure trip or a business trip. Not only it is important, besides it is a smart choice to buy international travel insurance.
Travel Insurance? Now, what is that? Why should I buy travel insurance?
While you travel abroad, travel insurance safeguards you from any unforeseen events, which may lead to otherwise financial expenses. Moreover, sometime the expenses could be such, which may easily create a hole in your pocket.
Thinking that you would not need travel insurance and probably buying travel insurance is going to be a silly investment.
No! You are wrong.
Before You Take Off
You have been planning your trip and you are pretty thrilled and excited. However, have you thought what if someone in the family passes away? What if someone falls sick/ill? What about the pre-booked tickets and accommodation? What if someone loses the passport in the midway of the trip? What if you meet with a serious accident?
Certainly, adverse situations like these could make your trip a harrowing experience. Having the right travel insurance will provide you with adequate coverage for such perilous situations and much more.
While you plan your travel itinerary, buying travel insurance should be a priority before you embark your journey.
How to Buy Cheap Travel Insurance?
To ensure that you get a cheap travel insurance deal, it is important to understand your travel requirements. Do not buy a travel insurance policy just because somebody has suggested it to you. Besides, look and include coverage’s, which are important.
For instance, if you are travelling to destinations like the USA and the UK then opt for extensive medical cover as any medical-related expenses in these countries are usually on a higher side.
Besides, if you are travelling to destinations like Thailand or Maldives and if you intend to undergo any adventure or water sports activity then accordingly you would need a cover for the equivalent.
To avail the best cheap travel insurance deal, it is important to contemplate the prerequisites of your travel. Moreover, with a plethora of travel insurance companies available in the market, they offer area/ region-specific travel insurance policy.
If you know, you are going to travel multiple times within a year, it is better to opt for multi-trip annual travel insurance. In case, you are travelling once a year, then stick to a single trip travel insurance policy.
Remember, buying cheap travel insurance does not mean that you compromise on the coverage. The key to buying cheap travel insurance is understanding your travel needs. Listed below are some questions that will help you to choose the best travel insurance policy:
- Which is the destination you are planning to travel?
- What is the length (number of days) of your trip?
- Are you a solo traveller?
- What is the estimated value of the goods you are taking with you?
- Is the destination risk-prone?
- Any adventure activity that you intend to try?
In the below table, are general concerns and the corresponding coverage you might need on the foreign soil, which will help to analyze and buy suitable travel insurance online.
Cover You Will Need
If you get sick/ill or meet with an accident
Travel Medical or Accidental Cover
In case of an emergency, you need to rush to the nearest hospital or return to your home country
Emergency Evacuation/ Repatriation
You need to cancel or end your trip suddenly
Loss of belongings such as loss of passport, loss/ delay of checked-in baggage
Cover for Theft/Loss of Passport/Checked-in Baggage
Finding round-the-clock medical assistance
The Misconceptions - Travel Insurance
There are some misconceptions in regards to buying travel insurance in India.
Nothing Will Happen During the Trip
Well, a majority of the population believes that travel insurance is not required as they will take care of the belongings and will be cautious. However, they do not realize that eventualities do not come knocking. The entire trip could easily take a halt in case of any natural calamity, man-made calamity or any malevolent act. Under such a scenario, you will end up losing a hefty amount in case of pre-booked tickets, accommodations and much more.
I already have a health insurance policy. Therefore, I will not need a travel insurance policy.
In case, you think that having health insurance policy is more than enough to provide you coverage in case of any medical emergency then you are very wrong. There are chances that your general health insurance policy might not provide you cover if you are on foreign land. Moreover, any non-medical peril may also incur such trip cancellation, loss of passport, loss of checked.-in baggage and so forth no cover will be provided if you do not possess a valid travel insurance policy. Therefore, before you zero down a travel insurance policy, it is important to understand the terms and conditions of the policy schedule and aptly understand the coverage.
Travel Insurance Does Not Cover Pre-existing Ailment/Disease.
This is a common myth that travels insurance policy does not cover any pre-existing disease. Some insurance providers in India do provide cover for pre-existing disease up to a specified limit and coverage conditions. You can always contact your travel insurance company and inquire in regards to the same.
Short Trips Do Not Need Travel Insurance
This is one of the most common misconceptions. This needs to be understood that any eventuality can happen at any point of time and does not come with prior notice or information. Irrespective of the duration, buying travel insurance is something you should not compromise. For instance, envision a scenario wherein you are travelling for one day and you meet with a road accident. Under such an adverse and sudden circumstance, having travel insurance will not let you or your family about the incurred financial implications.
All Travel Insurance Policies Are the Same.
No, this is not the case. With a plethora of insurance providers accessible in the market, different travel insurance plans are offered catering to the wider spectrum of the population. There are specific travel insurance plans available such as student travel insurance, senior citizen travel insurance, etc. Besides, you have the option to tailor the plan according to your travel needs. Every policy offers various combinations of features and coverage, which allows you to make a wise and informed choice. Therefore, look around at the policies on the web and choose the best travel insurance policy.
I Will Buy Travel Insurance Policy Later
You have already booked your flight tickets and accommodation for your holidays. However, there is time in your travelling so you think that travel insurance can be booked later. During this period, there is some political unrest in the destination you are travelling or any natural-calamity occurs at the destination. Now, you need to cancel the trip. What about the prepaid bookings already initiated? If you had bought the travel insurance policy then it would have handy to secure you against the incurred financial expenses.
Wrapping it Up
Before signing on the dotted, check the coverage options you have opted. Besides, duly understand the expenses, which you might incur in case of issues lately.
To avail cheap travel insurance, understand your prerequisites, research about the various types of travel insurance policies available in the market.
Research, check and compare the quotes and then zero down the best travel insurance online.
Travel insurance is an all purpose-emergency coverage plan.
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