How to Buy the Right Type of Travel Insurance Plan?

A travel insurance plan is an important document to cover various kinds of risks associated with your travel. You should buy the travel insurance plan as soon as the travel arrangements for your trip are made. Your trip expenses include payment for flight tickets, car rental service, hotel accommodation, sightseeing facilities and food expenses. Apart from that, there are other risk factors such as trip cancellation, trip postponement, flight delay, flight cancellation, loss of checked-in luggage, loss of travel documents and personal liability that can affect your trip. These risks can cost you a bomb and that is why having travel insurance coverage is a must. The insurance coverage will be applicable from the date of the trip. Hence, the earlier you buy the insurance plan; you can make the most of it.

Benefits of Domestic Travel Insurance Plan

There are many insurance companies in India that offer domestic travel insurance plans. You should buy a plan after assessing your insurance needs. As a matter of fact, the domestic travel insurance plan is not a compulsion in every country. Having said that, if you are travelling to advanced countries like the US, you must have travel insurance coverage. The best thing about the travel insurance plan is that it covers various risks which are not covered by the health insurance plan.

Here are the benefits of domestic travel insurance plan:

  • Trip Cancellation- A great deal of effort, time and money is spent on planning a trip. You might have already paid for your accommodation and flights. When you want to cancel the trip due to unfortunate and unavoidable reasons, the financial loss is covered by the insurance plan.
  • Loss of Luggage- If there is a loss of checked-in luggage or personal belongings; it will be covered by the travel insurance policy.
  • Theft of Personal Belongings- If there is theft of personal belongings; you can file the claim. The personal belongings should be mentioned in the insurance proposal form so that they are covered by the travel insurance plan.
  • Personal Accident Cover- The travel insurance policy will cover the accidental death, disability or dismemberment as per the terms and conditions mentioned in the insurance policy.
  • Trip Delay- In case there is flight delay for more than 12 hours, in that case the insurance company will offer the compensation.
  • Emergency Medical Cover- The emergency medical cover will help you undergo medical treatment on an emergency basis. The emergency medical evacuation expenses will be covered by the insurance company.
  • Emergency Cash- If you lose cash or debit/credit card, you need emergency cash. The benefit will be offered by the insurance company.
  • 24/7 Support- The travel insurance company will offer 24/7 assistance. You will get information and support in the hour of need.

How to Buy the Right Type of Travel Insurance Plan?

Here are the tips to buy the right type of insurance plan:

  • Assessment of Risk Factors- You should assess your travel requirements and purchase the insurance policy to cover various kinds of risks associated with your journey.
  • Type of Plan- If you are planning a single trip in a span of one year, you can buy a single trip insurance plan. If you are planning multiple trips in a span of one year, there will be great savings on the premium by opting for a multi-trip travel insurance policy.
  • Customization of Travel Policy- A travel insurance plan can be customized to cover various risks in a very efficient manner. You can opt for a travel insurance plan even though you are covered in a health insurance plan.
  • Comparison of Travel Insurance Plans- In order to reduce the insurance premium, you are advised to compare the travel insurance plans online offered by various travel insurance companies.
  • Online Insurance Calculator- The online insurance calculator helps you find out the premium very easily. You can include risk factors which are relevant to your needs. The risk factors which are not relevant to your needs can be excluded.
  • Senior Citizen Travel Insurance Policy- If you are travelling as a group or family where the family or group includes one or more senior citizens, you are advised to buy an individual policy for senior citizens so that you can save money on insurance premium.

Over to You

The travel insurance plan will help you in reducing your out of pocket expenses. You will pay a very little premium with which you can overcome various risk factors. Hence, you should purchase an appropriate plan as soon as your itinerary is confirmed. You can purchase a domestic or foreign insurance plan as per your insurance requirements.

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