Planning your first overseas trip? Well, you can’t predict medical emergencies abroad that could bring a big hole in your wallet. An Overseas Travel Insurance is the ideal way to save your hard-earned money. Best overseas travel insurance offers protection with medical expenses. Apart from covering your during an emergency, it also offers personal accident cover, medical evacuation and lot more. Keep reading this article to know more:
Benefits of International Travel Insurance International travel insurance is imperative irrespective of the type of your trip. It can be a solo trip, family get-together, a honeymoon or an official trip, you need to protect your tour. Overseas travel insurance is to ensure your financial security and keep your stress-free during the trip. Here are some benefits of having a travel plan When the Weather Doesn’t Suit You This is obvious when you entered an unfamiliar country, possibilities the weather may not suit you. You may fall ill due to the changing climate or cold weather and may need to see a doctor. In this case, travel insurance covers you for all the incurred expenses. God forbid, If You Meet with an Accident Due to a road accident, you may need to seek emergency healthcare services for the injuries. In a foreign country, medical treatments are sky-high that may leave you bankrupt. Your overseas travel plan covers you for medical emergencies too. This plan also offers coverage for personal accident cover and total or partial disability in case of an accident. Provision for Dental Treatment Some insurance companies cover dental treatment as well provided it arises out of an accident. However, they come with some clause. To know more one must compare international travel insurance plan online. Medical Evacuation Your travel insurance makes arrangement for emergency evacuation in extreme medical condition when you need to leave the country immediately. In-patient Medical Cover Medical cover under a travel insurance plan also offers in-patient cover. What if you need to be hospitalised due to indigestion? Treatment is a foreign country can be expensive. Well, fret not as you’re financially covered already. Coverage of International Travel Insurance Plan With an international travel insurance policy, you stay protected against:
Exclusions of an Overseas Travel Insurance
That’s all what a travel insurance covered and excluded. So, if you’re done with planning your next trip. But haven’t decided on a travel plan? Go online to check best travel insurance plan in India. Buying a travel plan online is the most convenient way. It is fast and cheap as well. For more updates and News visit Policybazaar Twitter Page
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When we buy an insurance plan, we hope we never have to file travel insurance claim. Travel insurance is one of the most often purchased kinds of insurance plan. As per National Geographic, 1 in 6 people insurance buyers file a claim and 10 percent of travel insurance claims are rejected. Irrespective of the statistics, you don't want your claim to get rejected.
Here are 8 tips that can help you register a claim successfully. 1. Read the Policy Wordings Carefully: We hope you’ve gone through the fine print of your insurance policy before purchasing it. Re-read your policy thoroughly before you register any claim. It will help you to know about any applicable exclusion(s). 2. Look Out for the Exclusions: There might be an exclusion that’d be applicable in your case. It includes pre-existing illnesses, pregnancy etc. These exclusions can affect your claim history. 3. Report Incidents with the Local Authorities: Doing so will help you to have something in writing. In case of theft, report it to the police as soon as possible, get a written report. Any emergency that might result in a claim, get in touch with your insurance provider. While they keep a window open for up to 20 days to notify an emergency, they prefer to be intimated as soon as possible. 4. Provide your Emergency Contact Details: Provide your emergency contact details to your insurance provider. In most of the cases, travel insurance providers prefer prompt notification to provide you with maximum benefits. It’s extremely helpful in case of an emergency when you can’t inform the insurance provider yourself. 5. Maintain a Record of Your Receipts: Maintaining a record of receipts helps you to prove. The monetary value of the items bought. Keep the receipts of purchased items as it helps if they are stolen or lost. 6. Ensure the Accuracy: Make sure that everything is dated as per the happening of the events. Dates must be accurate in the Police reports, purchase receipts etc. 7. Be Quick: When any event ruins a vacation, one feels like keeping everything aside and forgetting about it. Most insurance providers have a deadline of 20 - 90 days for registering the claims. Most insurance providers accept claims request later on if the reason justifies the claim. 8. Ask Questions: In case your claim is denied you should ask why. Don’t get disheartened by a first-time rejection. Ask your insurance provider why it is denied and what the procedure of re-filing the claim is. All you have to do is re-submitting your claim with more paperwork. Overseas travel insurance policy premium can cost you a bit of money but it saves you thousands in case something terribly wrong happens. Although, it is your responsibility to invest the effort and time in order to make your case crystal clear to your insurance provider. Understand the plan, collect the paperwork, and make sure you have all the details will help you to enjoy most of the benefit from your travel insurance plan. We hope this article has helped you to know how to file your travel insurance claim effortlessly. For more info and news visit PolicyBazaar Facebook Page Traveling to some destinations isn’t that easy. It takes us years of savings and months of planning to finally start that dreamy trip. There are some external factors, over which you have no control; can turn your dream trip into a nightmare. The fool-proof way to ensure a smooth traveling experience is buying a good travel plan. Always buy travel insurance online so that you get maximum coverage at the minimum premium.
In this article, we will share 7 travel insurance tips so that your next vacation is super fun and comfortable. Let’s get started. 1. Insure What You Can’t Afford to Lose-If your pre-paid non-refundable expenses sums up into thousands, this is something that you can’t afford to lose. It ensures that your travel experience is up to the mark. 2. The comparison is the Key- When it comes to finding the best travel insurance plan; there are so many plans to choose from. It is always recommended to compare travel insurance plans on a good insurance aggregator so that you have a variety to choose from. There are various travel plans that offer various travel insurance coverage. Choose the plan that fulfills your insurance expectations. 3. Your Age Matters- It doesn’t matter if you pick medical insurance cover or trip cancellation cove; your well-being is a crucial element that affects your insurance premium. 4. Health Insurance Doesn’t Cover You Always- A majority of health insurance plan ceases to exist beyond the geographical boundaries of your domestic country. Contact your health insurance provider for exact exclusions and inclusions. 5. Time Constraints- It might be surprising to you but different travel insurance providers have different time limitations when it comes to buying travel insurance. Some travel insurers allow you to buy travel plan a few days before your trip starts. If you wait for a long period of time to buy travel plan, there are some risks in waiting. Some insurance providers require you to buy travel plan within a fix time period once you have booked your trip. When it comes to buying trip cancellation cover, you don’t get coverage if you purchase the insurance after you got sick or any natural disaster has destroyed your destination. 6. Premium Might Vary- If you want to ensure transparency in your travel insurance premium, always compare various travel plans before finalizing a plan. If a travel plan is offering you decent sufficient coverage, the premium would be high for obvious reasons. Insurance premium for domestic travel insurance plans is lesser as compared to overseas travel insurance plans. The reason is high exposure to risks. 7. Multi-Trip Travel Plan- If you take more than 3 international trips in a year, then you must buy multi-trip or annual travel plan. It is economic as well as convenient. You don’t have to buy insurance every time you go on a trip. Make a one-time premium payment for your annual trip plan and have a smooth traveling experience. We hope these tips are helpful for your future travel plans. Buy travel insurance plan and safeguard your travel experience. Do you have any travel tips or hacks? If yes, do share it in the comment section. For more updates and News visit Policybazaar Linkedin Page Do you travel often? Is airport your next home? Are you a jetsetter? Are you always ready with a bagpack with your travel necessities to stay prepared for spontaneous or last minute travel requirements for business purposes? If your passport is filled with a number of stamps from different countries, then it’s imperative for you to buy an overseas travel insurance policy for a smooth and hassle free travel experience.
Travel Insurance is a viable solution to all the possible risks or unforeseen problems, which can arise during your international travel. You would need to compare a few travel insurance plans and choose the one, which has most of the inclusions and is closer to your requirements. But, again all this is subjective to individual needs. You need to check the risk factors, various reimbursements and specific covers that are provided for particular requirements. Its secondary which policy you opt for, but your coverage must help mitigate any damages occurred due to unexpected circumstances. Some travel insurance policies also provide some extra perks like emergency repatriation, hijack and and lost luggage assistance. Do not make a hasty decision, research is always important. You should compare travel insurance plans based on the following inclusions or exclusions. Check if it will provide you a cover under these circumstances: 1. You need to compare travel insurance policies from various companies providing international travel insurance. You can compare quotes and see which one works best for your travel plans. 2. You can decide if you want it for a single trip, or if you are a frequent traveler you can take it for annual/multi trips. 3. There are special plans for students who are going to abroad for further education. 4. Baggage misplacement/ theft of your belongings. In this scenario, the cost you would bear to make new purchases, would be included in your insurance amount. 5. In a scenario, where you need to come back to India and continue the treatment, then there are policies which provide insurance upto one month. What else you should check and compare: • Loss or misplacement of Passport • Missing a connecting flight/Delayed flights • Trip cancellation or curtailment due to natural calamities or bad weather conditions. In this situation your flight and hotel tariffs can be reimbursed by the insurer. • Medical expenses or medical treatment abroad. Here your outrageous medical bills will be covered by your insurer • Illness or hospitalization charges are also included • Accidental cover should be given • Medical emergency/critical health problems • Financial loss or loss of wallet you are carrying, then the insurer reimburses you with the stated amount God forbid, if any emergency situation or inadvertent expenses comes up, it can shake your bank balance, especially when you are on an international trip. Apart from the financial burden it brings, it can create an emotional distress. Be it any requirement of medical care, financial assistance or any other unforeseen situation, it can ruin your entire journey, as the medical expenses have a great disparity between India and abroad. By putting in a small amount in a travel insurance policy, you can secure yourself from any of these emergency situations, as your insurer will take care of such surprising circumstances which may come your way during your travel. You can check online and pick up the best travel insurance plan with optimal premiums to ensure a safe and hassle free protection while traveling. Just to reiterate, do read and understand your insurance policy properly and make sure you do not miss out on any important clause or condition. For more info and news visit PolicyBazaar on Facebook It is important to buy travel insurance but there are times when you can give buying travel insurance a miss. There are many times when purchasing travel insurance is not that necessary. In such scenarios, having travel plan means over-insuring. Having said that, it’s important to have travel insurance. Buy domestic travel insurance if you feel it’s an absolute necessity.
To buy or not to buy travel insurance boils down to two crucial factors i.e. financial risks and health concerns. Are you concerned regarding losing your money because of trip cancellation, trip interruptions, lost baggage, trip delays, or medical expenditure? Are you crossing the geographical boundaries of the country where your medical insurance won’t provide you insurance coverage? Here are three scenarios where having travel insurance isn’t that necessary 1. Impromptu domestic trips If you’re taking an impromptu trip in your country, probably you don’t require travel insurance coverage. You don’t have any pre-paid or any non-refundable trip expenses; you aren’t concerned with trip interruption or cancellation coverage. Since you’re within the geographical boundaries of your country, your health plan will look after your emergency medical needs unless you are participating in high-risk activities or violating the terms and conditions of your insurance plan. Buying online travel insurance would cover you for baggage loss and trip delays, but these coverages might cost you more than your trip. 2. Inexpensive Domestic Trips If you avail a super saver flight ticket offer and you’ll stay with your friend, you do not have much money exposed to risk. A travel plan is best when your non-refundable and pre-paid expenses cost you a lot. In this particular situation, you’re at a minimal risk which might not need any insurance coverage. Indeed, you are missing out on delays and baggage insurance coverage, but these coverages might not be worth buying for such trip. 3. If you are Able to afford to lose your Pre-Paid Travel Expenditure (if any) If you can afford that monetary loss, miss out on purchasing travel plan. As mentioned earlier, ideally travel insurance must be purchased when your non-refundable and pre-paid expenses are more than you can afford to lose. The One Scenario Where you Must Always Purchase Travel Plan In case you’re traveling overseas, you must always buy adequate travel insurance coverage to take care of any emergency medical need as well emergency evacuation coverage (if needed). This coverage is offered by major travel insurance providers. When you travel abroad, your health insurance might or might not travel with you. When you travel traveling abroad, shop around and buy sufficient insurance coverage in order to neutralize all the travel-related risks. Buying travel insurance gives you that much-needed peace of mind. Keep in Mind In no way, we are endorsing the idea of not buying travel insurance. You must always buy travel insurance in order to be safe when you are away from home. We just penned down the situations where you aren’t exposed to that much risk and if you want, you can skip buying travel insurance. Don’t bother much about money, more than money your safety and security is important. Never compromise on your safety and security. If you feel you should buy, go ahead and buy travel insurance coverage. For more updates and News visit Policybazaar Linkedin Here are the tips that you must factor in to get the best travel insurance coverage.
1. Never buy from a tour operator, travel agent, or airline They will charge you more premium for your travel insurance policy. 2. Analyze your Travel Insurance Coverage Before you start finding any deals on various insurance aggregators, you need to know what insurance coverage you want so that you know what your insurance expectations are. Domestic travel insurance plans’ coverage is different than international travel insurance plan. 3. Be sensible about the excess An excess is an amount to be borne by a policyholder. An insurance plan coming with a higher excess will come with a lower insurance premium as compared to other insurance plans. In any sense, it won’t be worth it. 4. Choose Yearly Insurance Coverage in case you travel more than 3 times in a year If you travel more than 3 times in a year or 2 times in a year and one trip is to the America, then buying a yearly travel plan that provides coverage on an annual basis. The total premium will cost you lesser than paying the premium for separate insurance plans. 5. Worldwide Policy Exclusion You do not have to purchase a worldwide travel plan if you travel to North Africa, Morocco, Turkey, and Egypt as it comes under Europe in most of the insurance plans. America isn’t the world; several "worldwide" insurance plans don’t offer insurance coverage for the America and Canada. 6. Pay attention to Age Limit and Medical Exclusions Many travel policies, especially the ones with the cheapest premium, will not provide insurance coverage to anyone over 65 years of age, no matter how much active and fit he is. Most policies won’t cover any pre-existing diseases. Never ever hide your pre-existing illnesses from your insurance provider since you can’t hide pre-existing illnesses for a long period of time. 7. Adventures activities are not covered Many travel plans exclude adventure activities in their policy wordings. Activities like horse riding, jet skiing, mountain climbing and scuba diving expose you to risk. 8. Domestic Travel Insurance is as important as International Travel Insurance Insurance experts can’t stress more on the importance of domestic travel insurance. Be it domestic or overseas travel plans, it exposes you to multiple risks. Travel plans neutralize such risks. People tend to undervalue the importance of domestic travel insurance plan. You don’t make this mistake and travel safely. 9. Comparison is the Key Don’t buy the first travel insurance plan that you come across. Select the best plans that you like and compare various features and benefits offered by those plans. The plan that fulfills your travel insurance needs the most, go with that plan 10. Don’t go for inadequate Insurance coverage You know what’s worse than having no insurance coverage? It’s having inadequate insurance coverage. You must look out for an insurance plan that is high on insurance coverage and low on insurance premium. For more updates and News visit Policybazaar Linkedin |
AuthorInsurance and financial manager. Archives
May 2018
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