What To Look Out For In Travel Insurance
Exploring different places is like embarking on an adventure that most of the people yearn for. Such memories last forever when you get through a safe and hassle-free trip. Travel Insurance is one of the most crucial aspects of planning domestic or international trips. Throwing light on the various benefits of travel insurance will help you out in purchasing your travel coverage wisely. With the help of our comprehensive Travel Insurance Guide, you can discover your right insurer.
Common Types of Travel Insurance
1. Domestic Travel Insurance
This type is meant for the people having an age gap between 18-65 traveling within the country for protection against loss of travel documents, tickets, delay of flights, and emergency medical costs.
2. International Travel Insurance
It is meant for the people traveling outside the country. This type will provide coverage against loss of luggage, travel documents, travel delays, and much more. It also assists policy owners during unforeseen circumstances like hijacking, high-risk medical emergencies.
3. Student Travel Insurance
Students are opting to travel out of the country for education purpose for an extended number of years. It makes them a demographic most vulnerable to various emergencies.
[Also Read: How To Get Student Visa For USA]
4. Corporate Travel Insurance
Corporate Travel Insurance is meant to send employees on domestic or international business expeditions. It provides coverage against the same risks as mentioned in the domestic and international insurance plan.
What To Look Out For In Travel Insurance
1. Trip Expenses
It's essential to verify if your trip expenses are thoroughly covered under your desired travel insurance policy. Ask your travel agent for your assurance if trip expenses will be reimbursed to you.
2. Replacement Charges
In case you are up with medications, it's important to put up queries regarding the replacement expenses or not. In case it doesn't. Opt for the one which will include such benefit.
Don’t forget! Most of the travel insurance plans don’t cover expensive articles under their insurance cover such as jewelry, electronic gadgets, digital devices, etc.
[Also Read: Airport Customs Rules And Regulations]
4. Coverage For Cancellation Charges
Another vital aspect is coverage of cancellation charges that no one should skip. It will help you in covering up charges for the cancellation of flight tickets due to unforeseen circumstances that might occur in the preceding time.
5. Adventurous Activities
If your planned route includes adventure activities like paragliding, river–rafting, bungee jumping, etc. Enquire with your travel insurer if all such undertakings are covered under your desired travel insurance plan.
How To Buy And Choose Right Travel Insurance
Before investing in a travel insurance plan, make sure you have considered the following pointers
1. Understand The Terminology
It is of vital importance to enlighten yourself with the complex terminology of Travel Insurance Plan such as deductibles, coverage limits, premium, primary coverage, etc. This will lessen the complexity and inconvenience caused by them when you’re on the excursion.
2. Recognize The Type Of Coverage
It makes sense to retrieve knowledge about your required travel insurance plan before finalizing a deal. It can be categorized as primary or secondary. Primary Travel Insurance Plan refers to the priority of payment when you file a claim, whereas Secondary Insurance Plan refers to make all the payments later and claim the reimbursement amount from your Insurance Provider.
3. Be Careful Of Exclusions
Never get yourself fall under the trap of the cheapest travel insurance plan. Stay watchful while going through its inclusions and exclusions. Take a close review of your travel insurance plan if it enforces restrictions on destination(s), activities like sudden injury and illness, and much more.
4. Review The Coverage
One of the best approaches to gain the maximum coverage is to buy a travel insurance plan at least 2 weeks just before your plan to set out on your journey.
5. How To Make A Claim
At first, you need to go through the claim filing process of your travel insurance provider. Be specific and honest about your trip plans and give a brief of all the items that you are willing to carry with you while making investments in a travel insurance plan. It will surely help you out in applying for your claim filing process with ease.
6. Compare Travel Insurance
One of the best ways to apply for a travel insurance policy is to shop around and jot down various policy quotes to compare. Go through the list of different insurance providers and find your ideal coverage at a reasonable price.
It is in your hands what to look out for in Travel Insurance. Make sure of buying a policy through a trusted and licensed Travel Insurance Provider, Agent, or Broker who is registered with IRDA. Moreover, choose the intended travel insurance plan that suits your needs in the best possible way.