Travel Insurance Companies in India

Travel Insurance Companies in India

Travel insurance is provided by several insurance companies in India. Here is a list of travel insurance companies in India that you may consider:

*Disclaimer: The list of insurers mentioned is arranged according to the alphabetical order of the names of insurers. For more details on the features, benefits, offered terms and conditions, please read the sales brochure carefully before concluding a sale. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprises insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India, refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

Picking a Travel Insurance Company

To ensure that you have right travel insurance policy, take care of the following before you zero in on a plan:

• Compare Travel Insurance Online: Today, almost all travel insurance companies are accessible online. Make sure to compare the benefits, additional coverage, and quotes offered by the different travel insurance companies before you buy a policy.
• Should Cover Medical Expenses: Medical expenses in European and American countries are pretty high and may easily create a hole in your pocket. Therefore, opt for a travel insurance company that offers plans specific to countries meeting the requirements.
• Analyse Different Features: In general, most companies offer almost similar features. Make sure to look for travel insurance plans with additional coverage so that you get the benefits.
• Check Financial Capacity: Make a note of not going for an insurance company just because it is offering a low premium rate. Buying a travel insurance policy with inadequate benefits is not going to help you in times of emergency. Don't forget to check the insurer's incurred claim ratio as well as the claim settlement ratio to know their financial health.
• Confirm Claim Rejection: The claim rejection ratio varies from insurer to insurer; therefore, it's advisable to go for the travel insurance company with a lower claim rejection ratio.

Type of Insurance Based on your Travel Requirements

Based on your travel requirements, the travel insurance companies offer different types of travel insurance cover, which are

1. Domestic Travel Insurance

   Opt for this plan if you travel frequently or have planned a vacation in another city. Especially, if you wish to secure yourself from personal as well as medical liabilities during the travel time!

2. International Travel Insurance

   Besides other coverages, it gives you comprehensive coverage from the risk of a hijack, deportation, and also from medical and personal emergencies during your travel.

3. Corporate Travel Insurance

   This one is purchased by businesses and multi-national companies for employees who need to travel often.

4. Student Travel Insurance

   This is for students who take admission into colleges and universities overseas for higher studies. If there is a loss of passport, any medical emergency, disruptions in their studies or any other mishap, then this policy will keep them covered and insured.

5. Medical Travel Insurance

   This is a short-term travel insurance plan meant to cover the health and medical expenses in case of a medical emergency while travelling overseas.

6. Family Travel Insurance

   This insurance policy is suitable for family international trips. Get your whole family insured from personal and travel-related risks which may arise under a family floater.

7. Senior Citizen Travel Insurance

   This plan is for the elderly within the age group of 61-80 years. As compared to normal plans, it specifically covers expenses that seniors may be prone to.

8. Group Travel Insurance

   There are plans which provide cover to an individual from travel-related emergencies and also to a group of people travelling together. Group insurance saves a lot of money on premiums, though.

9. Single/Multi-Trip Insurance

   Single trip insurance is for people taking only one trip, and they want to safeguard themselves from any unforeseen circumstances during that trip. Whereas, multi-trip is for frequent travellers to save them from personal and medical emergencies during the trip.

Travel Insurance Consultants Vs. Buying Online

Gone are the days when you had to physically visit an insurer and need help from travel insurance consultants to select a plan. There are definitely perks of having an agent help you - they understand your needs, assess your traveller's profile, your budget and needs. They help you understand the technical insurance terms and help you with tedious paperwork and claims, too. But there are certain disadvantages too.

In today's fast-paced life, it can be difficult for you to take the time for a personal consultation. The amount of paperwork, discussions and troubleshooting doubts also takes a lot of time. Buying policy online eliminates these issues by providing you with every travel insurance company and their plans in one place.

Plus, since most travel insurance companies in India provide an online application, all you need to do is find a way to compare multiple travel insurers. This is something travel insurance consultants may not offer, as they are tied to specific insurers and may offer biased recommendations. Similarly, plans suggested by travel insurance agents may be good, but lack options and transparency. You can easily find all the necessary documents online, choose your own pace and buy a policy whenever you are ready.