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Things to Keep in Mind When Buying Travel Insurance Policy

When it comes to the importance of travel insurance, you must have heard enough to last at least one lifetime. But surprisingly, a large number of travellers overlook the chances of a medical emergency when planning a holiday or a business trip. Resultantly, they end up splurging a lot of their hard-earned money when an emergency actually strikes.

Travel insurance ensures iron-clad protection for tourists against various perils that may otherwise ruin a pleasant trip. Remember, the idea of taking out a travel insurance plan is to ensure a pleasant, smooth trip, be it a business trip or a family holiday.

Now that you understand the importance of insurance during travel, you must be wondering:

“How do I find the best travel insurance plan?”

Don’t worry; we’ve done all the hard work for you! Simply check out these 5 simple tips that you must keep in mind when buying a travel insurance plan.

  1. Trip Expenses –First things first; check if your trip expenses are covered under your intended travel insurance policy. Enquire with your travel agent if your trip expenses will be reimbursed to you.
  2. Replacement Charges – If you’re on medications, it makes sense to enquire with your travel insurance service provider that if your intended travel insurance policy covers the replacement expenses or not. If it doesn’t, go for the one that does.
  3. Riders – Remember! Most travel insurance plans do not provide coverage for costly articles, such as jewellery, electronic items, laptops etc. In such cases, travel insurance riders come to your rescue. So, it makes sense to enquire about riders to ensure adequate coverage for such costly items that you plan to carry along.
  4. Cancellation Coverage – Yet another important coverage aspect that you must not forget to check is the cancellation service cover. This cover helps you in case your flight is cancelled due to some unforeseen circumstances.
  5. Adventurous Activities – In case your tour itinerary involves adventure activities, such as paragliding or bungee jumping, check with your insurer if these activities are covered by your intended travel plan.

Buying Travel Insurance Policy

Now that you know some amazing travel insurance coverage tips, it’s almost time to jump into action, compare travel insurance plans and zero in on the one that fits your budget, requirement, and preferences.

You may like to Read: Things to Know about Travel insurance

But wait! You might want to read out a few important points before investing your hard-earned money in a travel insurance plan:

  • Know the Terminology – Before you are all set to buy travel insurance plan, you must do well to get acquainted with the complex terminology, such as coverage limit, deductibles, etc. This will help you eliminate the chances of confusion and inconvenience when you’re on your trip.
  • Identify the Coverage Type – Before finalizing a travel insurance plan, it makes sense to find out about the coverage type provided by your intended travel insurance plan. Find out if your travel insurance plan is primary or secondary. Primary travel insurance plans cover you out-and-out. On the other hand, secondary travel insurance plan has the provision of reimbursement, where you’ll be required to make all the payment and later, claim the reimbursement from your travel insurance provider.
  • Know the Exclusions – Don’t fall for the cheapest travel insurance plan that you find on the web. Carefully, check for the inclusions and exclusions of the plan. Check if your travel insurance plan imposes restrictions on destination, activities, etc.
  • Review the Coverage – Compare travel insurance plans online for coverage. One of the best ways to maximize your coverage is to buy travel insurance plan at least 2 weeks before you plan to set out on your journey.
  • Check for Claim Filing Process – Don’t forget to check your travel insurance provider’s claim filing process. Be honest about your trip plans and declare all items that you plan to carry when buying a travel insurance plan. This will help make your claim filing process easier and relatively hassle-free. Read about Guide to Family Travel Insurance

In the End!

Don’t forget to check if your travel insurance provider is registered with IRDA. Make sure of buying the policy through a licensed agent or broker. Don’t just buy a policy because your travel agent recommends it. Do your own research, compare travel insurance plans and choose the one that best suits your needs. Last but certainly not the least; don’t get tempted to buy the policy with the lowest premium, as it might not provide you with enough coverage.

Bon Voyage!