Travel insurance is considered by many as much a medical insurance on the go. However, as a matter of fact, travel insurance is much more than just a medical protection plan. It gives you financial coverage in case of trip or ticket cancellations, loss or damage of your luggage or property, theft, emergency return, emergency transportation or medical care due to sudden illness during a trip and so on. Due to all these reasons, travel insurance is as mandatory while going on a holiday or a business trip as tickets and passport.
With so many insurance companies offering various types of travel insurance plans, the biggest question that arises is how to select the correct policy? It might appear easy with all the insurance comparison sites that have come up - just log in to any online insurance aggregator, compare the price quotes and purchase the cheapest one. However, there is a catch to it. Keeping the price low need not always prove to be worthy. If you take a deeper look into the policy, you might find a few of the coverages have been compromised. Hence, premium rates cannot be the only determining factor. You also need to check if the coverages are satisfying your needs, only then you will get the value for the money you invested in it.What should a good Travel insurance plan include?
Firstly, make sure that the policy gives high health coverage. Medical bills in a foreign land can be really expensive and so you must make sure that your travel insurance policy can cover the high hospital bills.
Secondly, you must also check that the travel insurance policy is providing coverage for emergency evacuation and care, which is excluded from medical coverage. In case you confront a natural disaster on the course of your trip or get injured while on an adventure tool, your policy must be able to cover the cost of evacuation and your transportation to a place where you can be treated.
Every good Travel insurance policy should possess the following features:
- It must cover the medical expenses for as many countries as possible.
- Should provide coverage for your electronics as these are expensive items.
- Must be covering sudden injury and illness while on a trip.
- They should have 24x7 emergency support and services.
- Provide coverage for lost possessions like jewelry, baggage, etc.
- Cover cancellations such as hotel bookings, flight, and other transportation bookings if you have a sudden illness, death in the family, or some other emergency.
- Your travel insurance plan should provide personal accident coverage and any legal incidents.
A final word of caution is that never forget to go through the fine print clauses of your policy. Often certain minor exclusions or terms are printed there, which if you are not aware of, might lead to missing out on some important coverages.
Policybachat.com has partnered with various leading travel insurance companies in India to bring before you the price quotes and benefits of myriad policies available so that you can compare and take a judgmental call on the one that suits your requirements and your budget.