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
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AuthorInsurance and financial manager. Archives
May 2018
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