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Checklist before buying travel insurance

Jagrity Sharma Jagrity Sharma 20 August 2019

A good travel insurance policy will protect you against uncertainties that you may face during your trip. Choose the most comprehensive travel insurance plan in India with a simple checklist.

Checklist before buying travel insurance

It doesn’t matter if you are travelling for leisure or work, you want your trip to be memorable and pleasant. The last thing you want on your trip is unforeseen incidents beyond your control, thereby stopping your happy time. Unpredictable weather, flight delay, medical emergency, terror attack, and more can ruin on your well-planned travel itinerary. To ensure that you stay covered at such circumstances, it is recommended to ensure your trip is covered with a travel insurance policy.

When it comes to picking a travel insurance plan, you want to get the most out of your policy. However, determining the most suitable travel insurance cover can be overwhelming. Here is a checklist to help you decide which travel insurance plan is ideal for you.

Does it cover all destinations of your trip?

If you are going for a trip which covers a single destination, deciding whether the policy is right for you might be easy. However, if your trip includes several destinations, ensure that your policy covers them all. Make sure that your travel insurance includes all the places that you want to stop at or visit as a part of your trip.

Does the policy provide the right amount of medical cover?

It is crucial to understand the medical cover offered by travel insurance and circumstances under which the cover is applicable. It is also wise to confirm whether your travel insurance policy covers pre-existing conditions that you might have.

How much baggage and belongings does the insurance cover?

Most of the travel insurance policies cover some personal belongings. However, it is essential to know the coverage level for personal belongings. Is it sufficient to protect your belongings while travelling? If not, consider upgrading or changing the travel insurance plan.

Does the insurance cover cancellation?

Some unexpected events may lead to the cancellation of a trip. It is crucial to know whether the travel insurance policy that you choose covers trip cancellation. Travel insurance plans generally allow you to claim the funds for the cancelled flight, car rental, tour bookings, and accommodation among others.

Activities and sports

It is important to know if travel insurance will cover the injuries while travelling and engaging in certain activities? Adventurous activities such as river rafting, paragliding, etc. are risky, and if you intend to engage in such adventurous sports, find out whether a travel insurance plan provides coverage for the same.

How can I decide which is the best travel insurance plan?

Listed below are some of the key aspects you should look for while screening travel insurance plan. This will help you choose the best insurance company with a policy that best fits your budget and certainly meet your travel insurance requirements.

Compare insurance companies online: It is advisable to buy travel insurance for your every trip, especially for an international trip. A travel insurance plan is absolutely affordable and offers extensive coverage. The benefits provided by travel insurance plans are quite sufficient. You can compare different travel insurance plans online with regards to their features, quotes, and coverage.

Know the medical coverage: A travel insurance plan provides medical cover for your entire trip. Consider a policy that provides you with higher medical protection, especially if you are travelling to countries such as UK, USA, Australia where healthcare is costly.

The cost of a medical emergency on your trip could rip off your finances. Other features of travel insurance policy may not impact your savings the way healthcare cover could hamper. It is wise to decide your medical cover depending upon the country or zone you wish to visit.

Compare different policy features: Travel insurance plans are mostly similar with respect to risks covered by travel insurance plans. However, it is advisable to opt for the one that gives the highest coverage for loss of baggage, loss of passport, flight cancellation, etc. Some travel insurance plans also offer coverage for plane highjack.

Claim-rejection ratio: It is the percentage of the claims rejected to the claims settled by the insurance company. Lower the claim rejection ratio, lesser are the chances of your claim getting rejected.

Financial stability of the company: It is essential to check the financial stability of the insurance company. This would help you know about the company’s capacity to pay off the insurance claims. Therefore, it is wise to settle for an insurance company that assures you to reimburse your claim amount, if the need arises.

List of top travel insurance policies

Apollo Munich Travel Insurance Plan

Apollo Munich Travel Insurance plan ensures your safety and financial security when you travel abroad. The company offers different types of travel insurance plans for students, individuals, families, senior citizens, and for frequent travellers. These policies are made available at different and affordable premiums. The plans offer coverage for all types of medical emergencies, automatic policy extension, no upper age limit, etc.

The travel insurance plans offered by Apollo Munich are as mentioned below:

  • Easy Travel Individual
  • Easy Travel Family
  • Easy Travel Senior Citizen
  • Easy Travel Annual Multi-Trip Plan
  • Educare – Student Travel Insurance

HDFC ERGO Travel Insurance plan

HDFC ERGO offers comprehensive travel insurance that safeguards you from uncertainties arising while you travel to another country for leisure or business. The company offers travel insurance policies that would be a great relief during an emergency. Below listed are the plans offered by HDFC ERGO Travel Insurance Company:

  • HDFC ERGO Individual Travel Insurance Plan
  • HDFC ERGO Family Travel Insurance Plan
  • HDFC ERGO Student Suraksha Plan

Bajaj Allianz Travel Insurance

Bajaj Allianz offers the best travel insurance policies to fulfill unique travel insurance needs of its customers. The company provides four types of travel insurance plans:

  • Individual Travel Insurance Plan
  • Family Travel Insurance Plan
  • Student Travel Insurance Plan
  • Senior Citizen Travel Insurance Plan The above-listed travel insurance plans are from the best insurance providers in India. Choose a company that gives you what you are seeking, what others deem as the best may not be the best option for you. Remember, travel insurance is an extremely subjective matter.

It highly depends on your requirements, and the purpose you are travelling for. Carefully consider all these aspects before choosing a travel insurance plan. Travel and vacations are the time to set aside your worries and enjoy with your loved ones. You do not want to spoil it by unfortunate incidents. While you can’t control such circumstances, you can perhaps control how they affect you with a travel insurance policy.

Recommended: When should I buy a travel insurance policy?

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Jagrity Sharma
Written by Jagrity Sharma
A bibliophile who hates alliterations, but loves cream, comics and content immensely! On another note, a content marketer who leverages the power of words to explain...almost anything!