How to Find the Best Travel Insurance Plan?
- Author :
- TATA AIG Team
- Published on :
Travelling is at once a way to widen our horizons and escape the realities of our daily lives. When we travel, we gift ourselves the opportunity to step away and take a pause for a while, to put things into perspective, to rejuvenate our minds and souls. However, travelling to a new place carries a certain degree of uncertainty, thereby necessitating adequate travel insurance.
There are several insurance companies that sell travel insurance online. You can check the various travel insurance policies available online, assess and compare travel insurance plans them, and select the best travel insurance plan for yourself in alignment with your travel insurance budget and requirements. You can buy travel insurance online and save on time and effort.
What is Travel Insurance?
Travel insurance is an agreement wherein an insurance company protects the insured against any financial losses that may occur during the course of a specific journey. A travel insurance cover can be purchased for domestic as well as international journeys. If you are wondering when to purchase travel insurance, the answer is when you are planning for a trip. You should consider travel insurance an indispensable part of your travel arrangements akin to your train or flight tickets and hotel reservations.
A travel insurance cover is a safety cushion that protects you against the financial implications of any adverse events during your travels, including but not limited to accidents, illnesses, loss of baggage, and cancellation of flights and hotel bookings. In the post-pandemic world, the importance of international travel insurance and domestic travel insurance alike have been highlighted all the more.
Coverage and Benefits of the Best Travel Insurance Plan
There are several benefits of travel insurance, some of which have been discussed below.
Travel assistance: With a travel policy, you can be assured of assistance in the event of any adverse events during your journey, including emergency travel services, cash transfers, and advances.
Cover for accidents: If you meet with an accident during your trip, your travel insurance policy provides financial protection to you by covering the cost of your medical expenses, including hospitalisation.
Cover for illness: In the event of you falling ill during your journey, your travel insurance policy shall cover the cost of medical expenses, including medical transit and hospitalisation.
Personal Liability Cover: During your journey, if you get involved in an accident that causes any injuries or damage to a third party, your travel insurance policy provides you financial protection against the cost of said damages.
Hijack cover: In the tragic circumstance of your flight being hijacked, the Tata AIG travel insurance cover offers you a distress allowance.
Assistance for baggage loss or delay: If your baggage is delayed or lost during transit, your travel insurance policy enables you to be reimbursed for the cost of the items in the baggage.
Loss of passport: If you happen to lose or misplace your passport whilst travelling, your travel insurance plan will cover the expenses incurred in getting a duplicate passport made.
Automatic extension of travel insurance: If your flight home happens to be delayed, your travel insurance policy gets extended for 7 days.
Covid-19 cover: If you happen to be diagnosed with Covid-19 during your journey, the Tata AIG travel insurance policy shall cover the medical expenses and hospitalisation expenses (if any) to the limit specified in the policy.
Affordable policies: Travel insurance policies provide extensive coverage at feasible prices. For instance, one of the best travel insurance companies in India, Tata AIG, offers international travel insurance policies at as low as ₹40.82 per day and domestic travel policies starting at ₹26 per day.
How to Select an Adequate Travel Insurance Policy?
Through the application of the travel insurance premium calculator, you can easily compute the cost of different travel insurance policies. Therefore, it is easy to compare travel insurance plans and purchase a suitable domestic or international travel insurance policy online.
In order to select the best travel insurance plan for yourself, you must take into account the extent of the coverage you want, your insurance budget, and the local factors specific to your travel destination.
Here are some of the factors you should consider in order to select a suitable travel insurance plan for yourself.
Your travel destination: The selection of your travel insurance policy is largely dependent upon the destination you are travelling to, particularly if you are travelling Internationally. Different countries have different political and social environments with varying degrees of safety. Furthermore, each nation has its own travel-related rules and requirements. For instance, some countries refrain from issuing travel visas to individuals who do not have a valid and adequate travel insurance cover. Therefore, it is advisable to purchase an adequate travel insurance plan while planning your trip.
The duration of your stay: One of the important factors affecting the cost of your travel insurance policy is the planned duration of your stay at the selected destination. You must ensure that the coverage of the selected travel insurance plan is a few days more than the intended stay duration so as to account for any contingencies and changes in your travel plans.
The Tata AIG travel insurance policy comprises the automatic extension of the coverage for 7 days in the event of delay or cancellation of your flight home. Therefore, you already have additional coverage of 7 days if your travel plans fall into disarray.
The frequency of the travel: You must select the adequate travel insurance cover based on the frequency of your travel. If you plan to visit a particular destination once, a single-trip policy is a suitable option for you.
However, if you plan to travel to a specific destination multiple times and quite frequently, you must opt for a multi-trip travel insurance plan that offers you coverage for multiple trips to a destination without additional premium payment for each trip.
The number of people travelling: While selecting a travel insurance policy, it is important to specify to the insurer how many people you are buying the policy for. If you are travelling alone, you can go ahead and purchase a travel insurance cover only for yourself.
However, if there are other people accompanying you on your trip, including friends, family, or colleagues, you must add the particulars of each member of the travelling party to the selected travel insurance policy so as to ensure sufficient coverage for all of them.
Claim limit: Each element of your travel insurance cover has a claim limit attached to it. From the reimbursement for baggage loss to the coverage for medical expenses, every claim has a specified sum assured that constitutes the upper ceiling of the claim. Therefore, it is important to choose the adequate sum assured for your travel insurance plan and ensure substantial coverage for you and your travel companions.
Remember that a little additional premium is a small price to pay for financial protection and assured assistance at a travel destination, particularly if the said destination is beyond the borders of your homeland.
To sum it up
There is no such thing as the best international travel insurance policy: The best travel insurance policy for you is one that provides you adequate coverage during your journey and stay, and financially protects you in the wake of any unforeseen circumstances, including accidents, illnesses, flight delays, and cancellations. Therefore, you must carefully determine your travel insurance requirements before making your selection.
The Tata AIG travel insurance policy offers you extensive coverage, including coverage for Covid-19, at a feasible price. We offer domestic travel insurance policies, starting at ₹26 per day and international travel insurance covers, beginning from ₹40.82 per day. You can check out our policies at our website and choose the one that best suits your insurance requirements and budget.