Assuming that you have a basic idea about the concept of travel insurance, this blogpost shall help you choose the Right Travel Insurance. Even if you aren’t well acquainted with the concept of travel insurance, you need not worry since this article shall cover everything right from scratch.
Travel insurance covers a traveller of the potential risks and misfortunes that could happen while travelling. It includes medical bills, trip cancellation, replacing a lost passport, Natural disaster, Misplaced luggage, etc.
Today there is no shortage of options for travel insurance. With such a plethora of travel insurance companies, it can become challenging to choose the one which is best suited to your needs.
So today in this blog post, we’ll discuss the tips for choosing the right travel insurance for you, including:
When we talk about travel, we all imagine ideal scenarios in our heads. One probably thinks of the happening beaches, peaceful mountains, or the meandering rivers.
But what if the beaches, mountains, or the river becomes hostile? What if a misfortune occurs while you’re aboard on your exploration of the world? It hurts to even think about it. But there is no use crying over spilled milk.
It would be best if you had criteria for choosing the ideal travel insurance, which is best suited to your needs.
Set The Criteria For Choosing The Ideal Travel Insurance For You
The first and foremost thing is planning and setting a goal. It would be best if you established a minimum bar about what all should be present in your insurance. It would help if you made it your priority to buy travel insurance before you let loose all your travel horses wild. You must explore and research the travel insurance plans offered by different companies. You could read articles and blog posts or even watch youtube videos about the same.
Understanding The Terms and Conditions Thoroughly
You must understand this point. Before finally signing up for the travel insurance and signing the documents, you need to read all the terms and conditions thoroughly. You must not sign any form in haste. The most common terms and conditions that are put forward by most travel insurance companies is that you tell them all about your health.
It includes disclosing all pre-existing medical problems like diabetes, hypertension, COPD, asthma, or any other co-morbidities. In case of a theft of any item, Travel insurance companies expect you to file an FIR within 24 hours. There is also a specific fixed timeframe till when you’re allowed to make a claim. So it is also essential that you claim within the allotted timeframe.
Importance Of The Right Provider
It is an inevitable fact that travel insurance would render futile if you do not have the right provider at your service. All your paperwork, raising the claim, payment of the request will be handled by them. So it would help if you had a sound bonding with them. You must do a background check before finally buying the insurance. One option is taken for genuine reviews on the internet or speaking to the customers of the insurance.
Having Your Budget Demarcated.
While choosing the right travel insurance, money should be one of your top priorities. Your travel insurance must not weigh heavily in your pocket. It is essential to choose the plan which covers everything you need to get insured at a reasonable price. However, cutting on your premium may cost you a more massive price in the future. So, it would help if you made an informed decision analyzing all the pros and cons.
Keeping Your Travel Destinations In Mind
It is essential that you already decide your travel destination be it a domestic or an international one. Different countries have different policies regarding travel, and therefore it becomes even more relevant to discuss the place of your journey with your insurance provider. Some travel companies have other plans and premiums for different countries. You should also make sure that all the countries that you’re planning to visit are covered under your travel insurance.
Please note that sometimes there are travel advisories issued by the World Health Organization(WHO) for a specific country say A Do Not Travel Advisory. In cases like these, your insurance shall not work.
Frequency of Travel
Discussing the frequency of your travel with your insurance provider shall help you save money. There are two types of Travel Insurance Plans based on the frequency of travel.
One is for someone who does not travel too often. So it would be advisable to take a Single Trip Travel Insurance in that case. But, if you’re someone who travels a lot, then the multi-trip policy shall be better suited to your needs as compared to Single Trip Travel Insurance.
Knowing What All Expenses Are Covered In Your Travel Insurance
By knowing what all is covered in your travel insurance, you’re getting one step closer to making your claims hassle-free. You must understand what all things have been excluded from your travel insurance.
Travel Insurance often does not cover natural disasters, pandemics, wars, etc. Also usually there are separate plans for electronic gadgets like mobile phones,i-pods, etc. Therefore you must make it clear beforehand what all is covered and what isn’t.
The things that are usually covered are:
Healthcare Services: This is one of the most important fields that you must look into..Travel insurances should provide you with a cover for emergency health services. It should include all aspects of health, including transportation, cost of medicines, and even emergency repatriation. Some travel insurances go as far as covering even pre-existing medical conditions like Diabetes, Hypertension, Asthama, etc.
Some Travel insurances also include dental treatments which is a cherry on the cake. Since even emergency Dental Treatments can come out to be quite expensive, it is recommended that you look for Travel insurance that covers Dental Costs as well.
Lost Passport Replacement: Loss of a passport can be a living nightmare if the right Travel insurance doesn’t insure you. We all have probably imagined the worst-case scenario of being deported back to our home country in that case. But with the right travel insurance, this situation won’t occur.
Travel insurances mostly cover travel documents such as visas, passports, flight tickets, etc. You need to know that it won’t give you a claim or replacement if a lack of responsibility in handling the documents is found at your end.
Also Read: Travel Insurance: All You Need To Know
Cancellation of Trip: The best part about travel insurance is that it shall compensate most of your money if you have a genuine reason to cancel the trip. The actual reasons could be your ill health, your travel companion’s ill health, death of a closed one, etc.
Delayed or canceled flights: Normally the airlines will pay you the compensation if the problem is at their end. However, sometimes there is a part of the money paid that cannot be refunded. Your travel insurance shall pay this amount.
Activity Cover: Most travel insurance will also cover you for activities like Paragliding, River Rafting, Bungee jumping, Horse riding at an extra cost. All the travel companies do not cover all the said activities, and therefore it comes even more critical to look for the things you plan to do in their terms and conditions.
Driving Cover: Most insurance companies also cover the rented vehicles while you’re on the trip. However, the claim would become null and void if you do not have a valid driving license.
Sooner the better
Once you decide on going on a trip, the next decision should be looking for travel insurance. Don’t procrastinate about it so much. You must not procrastinate buying travel insurance till the date of your departure. There are countless possibilities that would be beneficial if you had travel insurance before leaving for your trip. Suppose you have an emergency because of which you had to cancel your trip. That is when Travel Insurance will play its role.
Excess Cover on Travel Insurance
Excess in terms of travel insurance is money that is paid by you in case of any claim. An increased value of excess shall mean that the cost of travel insurance will be less. We can also conclude from this that one shall end up getting lesser returns than what was claimed.
Buying travel insurance is an excellent decision, but how to choose travel insurance may need hard work of planning and research shall render futile if you’re not vigilant enough. There is a bit of a loophole that you must critically analyze before buying insurance.
It would help if you also kept this thing in mind that travel insurance is for your wrong time and certainly does not prevent misery. You certainly should keep the possibility in mind that your provider can nullify your claim if he finds that it was all staged or due to a lack of responsibility at your end.