How Much Does International Travel Insurance Cost in India?

Why Buy an Overseas Travel Insurance Plan?

Travelling is supposed to be a relaxing and enjoyable process. Even if you're travelling for work, nobody wants unpredictable flight delays or medical emergencies while they are away from home.

While these travel insurance plans can't make up for your wasted time and other damages, they can ease your pang with monetary compensation and active assistance. From missed connections to losing your passport or belongings, international travel insurance policies offer a plethora of country-specific plans with a range of coverage benefits to choose from.

With exorbitant medical costs outside India, you can claim compensation from your insurance provider for any accidental injuries or mishaps while travelling. Be it urgent hospitalisation expenses or any legal issues that you may find yourself in, international travel insurance policies can be easily bought online by students, individuals, and senior citizens alike. Your insurer will provide help with common as well as specific emergencies depending on the type of overseas travel insurance plan you buy.

How Much Does International Travel Insurance Cost?

Travel insurance costs differ with different types of international insurance plans and their benefits. For most people, the first factor to consider is the cost of the insurance before buying any plan.

While looking for international travel insurance for you and your family, you need to keep in mind the following factors that will affect your overseas insurance plan’s cost:

• Age of the travellers (If senior citizens accompanying)
• The location you’re travelling to (Developed and expensive countries will need costlier insurance)
• Any add-ons purchased (Additional coverage means additional travel insurance premium)
• Any pre-existing health conditions of the travellers (PED coverage will cost extra)
• Type of plan variant opted (higher the sum insured higher is the cost of premium)
• Time duration of your travel

Depending on the combination of these factors, your premium will be calculated after which you can proceed accordingly. Take a look at some of the international travel insurance costs in India. These are the starting prices for USA travel insurance as per our website for a 10-day trip abroad:

*Prices are subject to change as per the trip duration, additional coverage and destination

Overseas Travel Insurance Plans for Different Needs

Everyone’s travel plans and requirements are different. A student travelling abroad to study requires a longer plan with different benefits. On the other hand, people travelling with their loved ones have different risks to prepare for. Thus, insurance providers usually have a lot of options so that customers’ different needs can be met at minimum costs. These are the different kinds of international insurance policies available in Indian insurance markets:

• International Travel Insurance Plans: These travel insurance plans are available in a broad range mostly based on geographical location and region-specific requirements. For example, certain countries in Europe need every foreign visitor to have a minimum sum insured before a visa can be even granted. Similarly, there are different plans for many other countries:
  • Europe/Schengen Plans: 26 European countries require a mandatory Schengen travel insurance plan designed for people visiting these Schengen territories.
  • Including USA and Canada: Many insurance providers have separate plans for the American continents which do not include coverage for any other country unless specified. These usually include different benefits that are mandatory for your entry.
  • Excluding USA and Canada: Similarly, many insurers provide different plans that cover your trip to any country other than the USA and Canada.
  • Asia Plans: This is usually less expensive than others and provides necessary coverage while visiting Asian countries. Many insurers provide this plan without including covering Japan and Korea.
• Senior Citizen Travel Insurance Plans: As the name suggests, these are specially designed for older travellers above 60-70 years. These plans usually have additional assistance benefits along with pre-existing disease coverage.
• Student Travel Insurance Plans: These are for a longer duration and have benefits like sponsor protection and cover for loss of laptop etc. The policy includes regular medical and non-medical related covers; however, this varies with the plan and the insurer.
• Frequent Traveler Insurance Plans: Designed especially for corporate executives or those travelling frequently, many insurance providers have special plans for them.

Please keep in mind that these are only generic plan types available for buyers. The plan name and its benefits will vary with the general insurance company offering them. You can read more about different international travel insurance plans at Policybazaar.

You May Like to Read: International Travel Health Insurance

What Will Your International Travel Insurance Plan Cover?

As already mentioned before, these plans are very useful in case you find yourself in an unpleasant situation abroad. Here are some of its benefits:

• Hospitalisation Expenses: The insurer compensates you for any expenses because of accidental or medical emergencies you faced abroad
• Daily Allowance: In case of hospitalisation while travelling, many policies provide a certain sum to the hospitalised insured to help them with the added expenses
• Home Burglary Cover: Many policies provide this feature either as a part of their plan or as an optional cover. It protects you from any financial loss caused because of theft or burglary while you’re away from home.
• Personal Liability: Any condition that may put you legally accountable to a third-party person while travelling.
• Coverage for Pre-Existing Diseases: This cover is often available as an add-on to your policy. It helps you with any sudden expenses caused due to an already existing medical condition.
• Trip Cancellation: The policy covers any loss caused by the flight's cancellation as per the policy terms.
• Delay/Loss of Checked-in Baggage: If your airline misplaces your baggage or causes you to delay over a certain time period then your insurer will provide a fixed reimbursement for the same.
• Emergency Trip Extension: Most policies offer this facility in case your date of departure is extended due to an unavoidable emergency. However, in some cases it is offered only when bought as optional

Wrapping it up,

Overseas travel insurance policies help- with a number of benefits to travellers and ensure that they don’t suffer because of unexpected financial burdens abroad. Finally, it is most important to compare different plans before buying one.

Keep in mind the points shared above and go for a plan, which meets all your needs. You can also compare different international insurance plans at Policybazaar before your purchase.