When planning a business or family trip, we consider traveling, fun, adventure, flying high, whereas we often ignore the uncertainties like an injury, accident, or illness. This results in medical emergencies in the unfortunate event of an accident and we have to run to avail preliminary medication in the surroundings. When it comes to buying travel insurance, we must look for certain features that are mandatory as well as most recommended, especially for those who are frequent travelers.
Another most important feature of a travel insurance policy is that we get safety assurance while traveling to another city or a different country even. In other words, any medical emergency is borne by the insurer, including events like loss of baggage, flight missed, loss of passport, and more. Further in this article, you will get some tips on buying travel insurance online or offline is another aspect, though. Always Remember Where you are Going The value of a policy can be calculated by the coverage it offers, which is referred to as the Sum Assured by the policy. Traveling to a different city or country may not involve heavy expenses but availing medical facility may do. Therefore, make sure you opt for a travel insurance policy that covers medical expenses. At the same time, you must know that the premium you are going to pay will be comparatively higher for medication at a place where health costs are high. Buy a Plan that Covers the Duration of your Stay Another key aspect that you should keep in mind while buying travel insurance is the duration of your trip, based on which you need coverage. For instance, a 25-year-old person goes on a trip with travel insurance taken from HDFC ERGO at a premium price of Rs. 760. In contrast, the premium amount will be increased to Rs. 902 if the duration of the trip is extended by 7 more days. I will be wise if you opt for an annual travel assurance plan, in case you are a frequent flyer. Buying such a plan provides coverage for multiple trips while the coverage of each trip ranges from 30 to 45 days. What Activities are involved in your Trip? Based on the activities you are going to perform on your trip, you need to plan and take an adequate travel insurance policy. For instance, if your trip does not involve any sort of adventurous activities, sightseeing, etc, then you probably are less prone to injuries that are quite common on trips that involve outdoor camping, rafting, rock climbing, and so on. In contrast, a simple business trip that involves client and/or partner meetings, presentations, parties and more may not much require a travel insurance policy. Make sure you Compare Insurance before buying it Since a number of insurance vendors are available in the Indian market, it is quite obvious for people to get confused on which one to buy out or the whole number. In such a scenario, you need to buy travel insurance online by comparing different plans offered by various insurers. It is recommended to log onto the website of an insurance aggregator and compare multiple plans to get the most out of it. To be specific ICICI Lombard Travel Insurance is quite frequently chosen, as it offers coverage to a large extent at a price that is much affordable.
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AuthorInsurance and financial manager. Archives
May 2018
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