Travel insurance simply means a protection to your losses and emergencies during or before your trip.
A Travel trip insurance can cover your trip cancellation, medical cost, emergency evacuation, lost language, passport, flight cancellation and many more things.
After all, things covered under Insurance package depend on the cost of insurance you are willing to pay and the list of inclusion provided by travel companies.
Types of Travel Insurance
There are major two categories found travel domain of insurance.
Domestic Travel Insurance
This type of package covers insurance for domestic tours i.e. for your home country. Most of the times, these packages doesn’t cover medical emergency cost and thus less costly compared to the overseas.
International Travel Insurance
Most of the time, international tour cost is higher and thus it is most purchased travel insurance compared to the domestic.
When to buy Travel Insurance
Most of the big budget tours are pre-booked or booked in well advance. It is always preferable to book your insurance while tour booking. Though, you have time to purchase insurance till you start your trip.
You can buy it from the tour provider or you can buy online as well.
How to buy online
There are many online policy portals available. You can compare and purchase the same from policybazar.com
Before buying online, please confirm list of inclusion and exclusion as well.
What is covered in Travel Insurance
List of covered things varies with the Travel insurance packages. In fact, it is up to you what all you want to cover which in turn sum up the total cost of your insurance package.
Which are best travel insurance companies in India
- SBI Insurance
- Religare Insurance
- TATA AIG Insurance
- Bajaj Allianz Insurance
- HDFC ERGO Insurance
Travel Insurance coverage
Most of the top insurance companies provide following things under coverage:
- Baggage Loss
- Cashless Medical
- Passport Loss
- Flight Delay
- No Extra Cost for Pre-Existing Diseases
- Quick Claim Reimbursement with Cashless Options
- Affordable Plan
- No Medical Tests Required
- Instant Online Policy
- Emergency Medical Assist
Travel Insurance cost factors
- Travel destination
- No of Days
- No of People
- Age of People
- Coverage list
- Type of tour or activities involved
For example, Insurance amount for Everest climb expedition will be much higher than the Bali tour for one month.
You can try Travel Insurance premium calculator of Reliance General.
Pre-existing conditions for Travel Insurance
Sometimes, it is very difficult to get insurance due to medical history. In case of heart disease and high blood pressure, you may find it difficult to but insurance from top leading companies. As these diseases need to be disclosed for seeking coverage on pre-existing conditions.
Imp Note – Travel insurance helps you in saving your TAX u/s 80D. Also, it is highly recommended to buy tour insurance if you are going for overseas or an international trip. Sometimes, it is more costly in adventure tours as the risk is higher.
I hope this blog helps you to understand the basics of your Travel trip insurance. Be wise while buying it online.