We cannot predict the untimely financial emergencies which might occur any time in our lives. It can even happen while taking your time away from the daily hassle of life for seeking leisure on a trip. These contingencies not only cause disruption on your journey but also might make you undergo financial losses.
Hence, it is important to invest in a Travel Insurance Policy which provides financial protection against such situations by providing monetary aid and compensation for the loss you might suffer while travelling. Continue Reading to learn more about Travel Insurance and the features it offers.
Travel Policy Usage
Travel Insurance is a policy that people purchase to secure themselves from suffering any specified financial contingencies while travelling.
This financial security provides scope of coverage for all the expenses and losses that the insured might suffer due to experiencing any minor to significant issues during travelling.
These issues involve delay in checked-in baggage, alternate bookings against cancelled flights, theft, medical emergencies, etc. This is important when you plan to buy travel insurance online
Travel Insurance Plans also offer medical assistance in case the insured faces any medical emergency on the trip.
It provides services like arranging hospitals and rooms for medical treatments during an emergency, 24/7 medical care, medical repatriation, etc.
In addition to this, while you plan to buy travel insurance online, you can think of a Travel Policy also providing coverage for lost passports, cash wire assistance, trip curtailment, etc. Different policies uphold different amounts of premium payment which are required to be paid in order to avail the facilities of sum assured.
Travel Insurance Policies come in a vast range of variants which offer coverage for different needs and requirements of people. Hence, it is important to select the right plan based on your budget, coverage needs and travel dates as every plan might not provide coverage for every aspect you wish to have it for.
However, you can also purchase add-on rider benefits to enhance your basic coverage plan. Additionally, it is recommended to buy a Travel Insurance Plan beforehand and not at the last moment of the trip.
You should consider factors like weather conditions of the destination, climatic changes that tend to occur, common issues faced by travellers apart from some basic challenges that can be faced so as to have an all-round protection.
To select a relevant plan, you can also take help of a Travel Insurance Premium Calculator. This is a free tool which is offered by most of the Insurance Companies Online which helps in selecting the right plan as per your budget and coverage preferences.
Best Travel Insurance Features
On investing your money in Travel Insurance, you definitely might be aiming to acquire as many benefits from it as you could. It is justified, as nowadays, having Travel Insurance has become the need of the hour. It is a great form of securing yourself from undergoing any financial burden due to suffering an unforeseen situation while on a trip.
However, while talking about the Best Features to buy travel insurance online and the benefits it proposes, it is crucial to understand that a Travel Insurance Plan with a higher premium is not necessarily going to give you all the desired benefits you want.
Therefore, it is important to research and differentiate between multiple plans available in the market. Additionally, you should keep in mind that an ideal Travel Policy is one which comes with a wide-range of relevant benefits as per your coverage needs and requirements and charges a reasonable rate of premium.
International Travel Insurance
An individual planning to make a leisure or work trip to a foreign country should opt for an International Travel Insurance Plan.
Additionally, while you buy travel insurance online or may be purchasing an International Travel Insurance Policy, it is important to verify the network range of your Insurance Provider and whether they have a Service Provider in the country you are travelling to or not. Choosing an Insurance Company with a huge network all across the globe makes the claim settlement process comparatively a lot more easier and quicker.
Moreover, the coverage period of your International Travel Insurance Policy will be specified on your Policy Document. Generally, the duration of a Travel Insurance starts from the commencement date of the insured’s journey and concludes with the end of their journey itself. You should keep in mind about this factor when you buy travel insurance online.
Overseas Travel Insurance Premium
The premium amount of a Travel Insurance Policy is based upon various diverging factors.
This includes the kind of policy chosen, total number of applicable coverage days, sum insured, the destination, total number of members covered under the policy along with their age and the features of the coverage offered. Additionally, Travel Insurance Policies also offer add-on coverage benefits which add to the premium and premium discounts which, if available, can be deducted from the payable premium amount.
Nowadays, there are various websites which provide lists of relevant Travel Insurance Policies based on the online calculation of the premium amount which can be done by simply entering your trip details on the website. This helps you to buy travel insurance online.
A Travel Insurance Policy has become a necessity to be acquired while travelling as you cannot determine when an unwanted emergency will strike you in life. for visitors travelling to a foreign country, they must buy travel insurance wisely.
Frequent Travellers, Senior Citizens, Students travelling to different countries for higher education, people travelling with family or in groups, solo travellers etc are highly urged to purchase Travel Insurance Plans.
It is greatly better to invest a nominal amount of a Travel Insurance Policy than spending heavy numbers of money on facing an untimely urgency while travelling abroad. Here is the list of best 5 visitor insurance plans in India.
Travel Health Insurance
All the Travel Insurance Plans do provide coverage for medical emergencies. However, there are various major exceptions made under Travel Health Insurance which involves any type of medical condition caused because of an illness which the insured was already suffering through before the commencement of the trip.
Additionally, child birth and maternity are also not included in the cover benefit of a Travel Insurance. Claims incurred while travelling against medical advice or after getting diagnosed with a severe illness is also not covered. Moreover, exclusions from coverage are drawn for a person travelling to a country for acquiring medical treatments.
Other such exclusions involve claims due to engagement in adventure sports, acts of criminal nature, involvement in riots and commotion, war and nuclear perils, injury suffered due to participation in hazardous activities, consequential losses, self-inflicted physical harm, HIV/AIDS infection, alternative treatments, etc. You can think of these points when you buy travel insurance online.
Please note that irresponsibility of looking after your belongings will also not be included in your Travel Insurance Coverage. I have created a detailed article, you can read more about Travel health Insurance.
Compare Travel Insurance Plans
As discussed above, there are a huge number of Travel Insurance Plans available in the market. Various Travel Insurance Plans offer diverging sets of coverage and some Insurance Companies even provide individuals with an opportunity to customize their Travel Insurance Policy, to help you buy travel insurance online.
Hence, it is suggested that you should do a detailed comparison of different Travel Policies and keep in consideration your travel details and coverage requirements.
This is because a cancellation of a Travel Insurance Plan can be initiated only when the trip for which the insurance was acquired has not been taken by the insured because of trip cancellation or denial of Visa.
Additionally, if the trip is cut short, the policy can be cancelled. Although, a free-look cancellation period is offered under some Travel Insurance Plans like Annual Multi-Trip Plans.
This allows the insured to cancel the policy before its commencement period. To cancel your Travel Insurance Policy, you should get in touch with your Insurance Provider using the contact details mentioned on your policy document itself. You can read Compare Travel Insurance Plans in detail to know in depth.
Travel Insurance India – Top Travel Insurance Companies
The need of having a Travel Insurance Policy has now started attaining limelight in India. Individuals have become a lot more aware regarding the significance of Travel Insurance and how it secures the travel in the long-run.
This popularity of Travel Insurance has eventually given rise to a lot of Insurance Companies offering a plethora of efficient, flexible and adequate Travel Policies. Trust me, there is one policy available for each and every possible requirement of an individual in the market. It has become very easy today to buy travel insurance online.
And as if this was not enough, many of the Top Travel Insurance Companies are also providing additional benefits and customizable options so that you could acquire a Travel Insurance Policy exactly as per your coverage demands.
Student Travel Insurance Plan
This type of Travel Insurance Plans is created for aspiring students who have applied for an International University and who will travel to a foreign country for pursuing higher education.
Student Travel Insurance Plans are focused on fulfilling the coverage needs of students going abroad for education purposes and are offered coverage for a duration of up to one year. However, further extension of Student Travel Insurance Policy is permitted if the insured student’s education is not complete for up to 2 or 3 years.
The Student Travel Insurance Policy is offered to students ranging between the age of 12 years to 40 or 45 years. The exact age limit might differ amongst various plans. Hence, it is suggested to research through various Student Travel Insurance Plans to identify the exact age limits.
The need of having Student Travel Insurance is dependent upon the requirements of the university a student is taking admission in, along with the country he/she will be travelling to.
Hence, if the university demands a Student Travel Insurance Plan, the policy would become mandatory. Similarly, if a student is travelling to a Schengen Country, they should buy travel insurance online since purchasing the Student Travel Insurance Policy would become compulsory.
Even though a Student Travel Insurance Policy is not necessarily required in other countries and universities, it should still be acquired for availing the coverage benefits of the policy.
This will ensure financial security to the student and assure the completion of the course. Hence, students who are applying for Foreign Universities should obtain a Student Travel Insurance Policy.
It is advisable to invest in a Student Travel Insurance Plan as soon as your admission gets confirmed in a Foreign University. This is because, when you purchase a Student Travel Insurance Plan early, i.e. when the travel date is later in time, you would be provided coverage in case if the trip gets cancelled due to unavoidable circumstances.
While being on a trip for pursuing higher education, if a student gets sick and is hospitalised, and if his/her days of hospitalisation cross a specific number, a Student Compassionate visit is arranged.
In this type of benefit, the Insurance Provider schedules a compassionate visit of an immediate family member to meet the ailing student. Additionally, the cost of return airfare is also taken care of under this benefit.
Sponsor protection cover is available under student travel insurance plans where if the student’s sponsor dies or becomes disabled during the policy tenure due to while the student’s tuition fee cannot be paid, the travel insurance plan would pay the fee for the student’s tuition over the duration of the coverage tenure.
Additionally, If the student’s studies in a foreign institution are interrupted due to adverse sickness which results in long-term hospitalisation or due to death of an immediate family member, the costs incurred on such interruption would be covered under student travel insurance plans. In such cases, the Insurance Company would pay the tuition fee payable to the institution to allow the insured student to repeat the interrupted course.
Inclusions under Student Travel Plan
- Medical treatments
- Medical evacuation
- Medical Repatriation and Repatriation of corpse
- Bail bond
- Interruption in education
- Sponsor protection
- Compassionate visit
- Loss of valuables like books, computers, etc
- Emergency dental treatments
- Loss of passport
- Delay or loss of checked-in baggage
- Emergency cash requirements
- Accidental death or permanent disability
- Third party legal liability
- Repayment of the tuition fee in case if the education is disturbed due to medical conditions or any other unavoidable reasons etc.
Exclusions under Student Travel Insurance Plan
- medical conditions caused by any pre-existing diseases
- Routine physical check-ups
- Medical charges incurred after the expiration of the policy
- Suicide or attempt to suicide
- Engagement in adventure sports or dangerous activities
- Criminal acts
- Any type of unproven or experimental treatments
- Loss incurred because of carelessness
- Intentional and consequential losses
- Medical expenses incurred due to maternity and childbirth
- Any type of mental and congenital disorder
- Claims due to war and nuclear threats
- Expenses under the influence of alcohol and/or drugs, etc.
Domestic Travel Insurance Plan
It is suitable to invest in a Domestic Travel Insurance Plan if you are travelling to a destination located within India. This plan offers financial shelter to travellers in circumstances of facing any problems on a trip. Foreigners with a work permit to work in India can even acquire a Domestic Travel Insurance Plan to travel within India.
Travel Insurance for Schengen Visa
Schengen Countries are 26 developed European Countries which make it compulsory for their visitors to have a Travel Insurance Policy.
It is mandated because the medical expenses and charges of Schengen Countries are comparatively higher if differentiated with other countries.
Therefore, it is recommended to people travelling to one or more of the Schengen Countries to acquire a high sum insured under Travel Insurance for Schengen Visa to have adequate amount of coverage in case of facing a claim. You can read more about International Travel Insurance Schengen Visa.
Overseas Medical Insurance
All the International Travel Insurances do provide coverage for general medical emergencies caused on the trip.
Many plans even offer add-on rider benefits to its customers in case they wish to expand their range of coverage.
However, the common medical coverage provided under all Travel Insurance Policies involve personal accident, death or permanent disability suffered, medical treatments and hospitalisation, medical evacuation and repatriation, ambulance charges etc.
If you want to read in detail about Tips to know before you buy an Overseas Travel Insurance Policy, you can go through this article.
Travel Insurance for USA
In the checklist of your ‘Things to Do in the USA’ List, I want you to first tick the mark for ‘Having a Travel Insurance Policy’.
Travelling to one of the most opulent and developed countries in the world, you should know that the costs of medical treatments are also greatly expensive there.
Additionally, I am sure you would not want anything to spoil your journey. Hence, it is vital to purchase a Travel Insurance for the USA to protect yourself in advance against any emergency that you might face while travelling.
Travel Insurance Claims
An individual faces a Travel Insurance Claim on suffering any specified contingency while travelling. It is important to preserve the relevant evidence documents and related to your claim in case you are going to apply for it after coming back to India.
However, you should inform your Insurance Provider regarding the claim as soon as it takes place. Additionally, you can also get in touch with their Networked Service Provider in the country you are travelling to.
Under some claim benefits, a deductible limit is imposed by the Insurance Provider. A deductible is the limit up to which claims are not paid under Travel Insurance Policies. When claims exceed the specified deductible limit, the excess would be paid.
The deductible would have to be borne by the policyholder himself/herself. For instance, in case of loss of passport, there might be a deductible of $250.
If the costs incurred in arranging for a duplicate passport exceed $250 and amount to $300, the travel insurance policy would pay a claim of $50. Similarly, in case of trip delay, the deductible is measured in hours. If the deductible is 6 hours, costs incurred by the insured up to 6 hours would not be paid by the insurance company.
Once the delay exceeds 6 hours, any subsequent costs incurred by the insured would be covered. You can read in detail about how to make travel insurance claim.
Travel Insurance Coverage
While selecting a Travel Insurance Plan, you should verify different aspects of the policy and then make a choice. Firstly, you should identify the coverage benefits offered by the plan and then select a plan which offers the most comprehensive coverage benefits as per your needs.
You should also check the sum insured level offered by the plan as it should be adequate enough to cover for any financial contingencies which you might suffer on the trip.
The premium of the policy should be compared to ensure that it is in proportion to the coverage benefits offered and is the most competitive amongst other travel insurance plans along with availability of Premium discounts offered by the policy to reduce your premium outgo.
You should choose a coverage plan depending upon the nature of your travel. For instance, if you are travelling for leisure, a single trip policy is sufficient but if you travel frequently, you should invest in an annual multi-trip policy.
Moreover, you should also check the availability of add-ons offered by your Insurance Company so that you can include them and make your cover all-inclusive. Check the coverage limits of the plan to know the extent of coverage and try and choose a plan which allows maximum cover.
Lastly, the exclusions of the policy should be checked to understand the instances where you would not be covered by the travel insurance plan. So, before buying a travel insurance policy, compare the available plans on these parameters and then choose the most relevant plan.
You can go through this detailed article about Travel Insurance Coverage.
Buy Travel Insurance Add-ons
In case if you wish to further extend the scope of coverage of your Travel Insurance Policy, or you wish to acquire a coverage benefit which is not already included in your plan, you can easily choose to opt for an add-on or additional coverage rider benefit.
These benefits are not already incorporated in the coverage range of your plan but are offered as optional benefits that can be purchased by depositing an additional premium. This amount, hence, gets added to the total premium amount of your primary policy.
Cheap Travel Insurance Add-ons
Following are some of the common add-ons rider benefits offered under various Travel Insurance Plans-
- Home Insurance add-on
This type of add-on provides coverage benefits on suffering theft, fire or other such damage caused to your house while you were away on a trip. Home Insurance add-on provides financial protection against such contingencies for the complete duration of your journey.
- Adventure Travel Insurance add-on
In case if you are travelling especially to engage in adventure sports, you can ask your Insurance Provider to provide you with additional coverage for any medical emergencies due to such engagements. This is because, participating in adventure sports or other such activities is generally not included under coverage of a normal Travel Insurance Plan. These Adventure Travel Insurance add-ons can involve activities like-
- Road trip cover
- Trek cover
- Pilgrimage cover
- Solo traveller cover
- Back-packing trip cover, etc.
- Pregnancy Cover add-on
If you are travelling during the period of your maternity, it is recommended to buy a pregnancy cover add-on as it is not otherwise included for coverage under Travel Insurance Plans. Hence, by paying an additional premium amount, you can acquire coverage against expenses like medical treatments caused due to any complication. Pregnancy and maternity coverage is usually allowed under student travel insurance plans.
- Pre-Existing Illness Cover Add-on
Travel Insurance Policies do not provide coverage for medical conditions that occur because of any pre-existing conditions suffered by the insured. Although, there are some Travel Insurance covering pre-existing conditions in India which can be availed by purchasing a Pre-Existing Illness Cover Add-on.
Travel Insurance Premium Calculator
The premium amount required to be paid to avail a Travel Insurance is a highly important point to be considered before finalizing a Travel Insurance Policy.
It is suggested to invest in a plan which offers maximum coverage benefits at an affordable and nominal amount of premium.
Hence, to buy the most accurate plan with maximum coverage and reasonable premium, you should always identify the premium rate of the policy.
Travel Insurance Premium Calculator is a free online tool offered by many of the Insurance Companies which can be utilized to easily calculate the premium amount as per your coverage requirements from your Travel Insurance Policy. Here is the list of best travel insurance companies in India.
Along with the Insurance Companies, Insurance Aggregators also offer Travel Insurance Premium Calculators which can assist you in finding the exact amount of premium required to be paid for your Travel Insurance Plans.
To evaluate your premium amount, such calculators require your coverage details which involves-
- The kind of Travel Insurance Policy you require
- Destination of your trip
- Number of family members travelling with you
- Duration of the trip
- Age of the individuals to be insured
- Gender of the members to be insured
- Selected sum insured
- Chosen add-on riders (if any)
Your evaluated premium amount will be shown after entering all the above mentioned data in the calculator. Additionally, to check other variants of Travel Insurances, you can change the amount entered in the Travel Insurance Premium Calculator by changing the sum insured or by adding or removing the selected add-ons.
Buy Travel Insurance Online – Premium Calculation
The Premium Amount to be paid under a Travel Insurance Plan is affected by various elements of Travel Insurance. These elements decide the rate of premium which is required to be deposited under a specific plan. Hence, let’s understand about elements which impact the premium calculation of a Travel Insurance Plan-
- Type of Plan Selected
As per the different demands and requirements of an individual, there are different Travel Insurance Plans available in the market. Additionally, the calculation of premium is dependent upon the kind of plan you choose. For instance, if you select a Single Trip Travel Plan, the premium amount would be different from that of a Multi-Trip Travel Insurance Plan which is suitable for frequent travelling. Similarly, the premium of a Student Travel Plan would be different from the premium of a Senior Citizen Travel Insurance Plan.
- Size of the Cover
Calculation of the premium amount to be paid is also greatly dependent upon the total amount of sum insured under a Travel Insurance Policy. The sum insured should be set depending upon the charges of medical services in your destination country or the city. For instance, you require a higher sum insured while travelling to the USA while a lower sum insured would be enough on travelling to Sri Lanka. Therefore, for acquiring an increased sum insured, the premium amount would also be increased.
- Offered Coverage Benefits
There can be circumstances where you might find different Travel Insurance Plans offering the same sum insured on varying premium rates. This can be because of the coverage benefits provided under the two policies. The policy which is giving a higher coverage benefit would charge a higher rate of premium compared to a policy which is offering a lower coverage benefit. Hence, the premium amount may also vary depending upon the coverage benefits of travel insurance plans.
- Travel Destination
The country you are going to visit also affects the amount of premium under a Travel Insurance Policy. For example, if you are travelling to developed countries like the USA, UK, Australia where suffering financial losses would be expensive, the insurance premium would be high. Whereas, the premium amount will be comparatively low if you visit Asian countries. Identically, on travelling to countries with high amounts of risk like Japan, there will be higher premiums applicable on your Travel Insurance Plan.
- Number of Members to be Insured
It is comparatively cheaper to invest in an Individual plan than a Family Floater Travel Insurance Plan. This is because, if the number of members to be insured increases, the premium payments would also increase because in addition to each member, an independent premium amount is charged.
- Add-on Features
There are extra features called Add-on or additional features offered under Travel Insurance Plans. They are not built into the plan’s coverage structure but can be added in case if you wish to extend your plan’s coverage scope at a cost of an additional premium. Hence, the addition of such additional benefits escalate the premium of your plan and therefore, it is recommended to select an add-on feature only when required. While planning for a leisure holiday trip, you can take a regular travel insurance plan. However, if you are going for a trip especially to participate in adventure sports, you will need to purchase an add-on benefit in order to avail coverage against any medical emergency arising due to such adventure sports.
- Travel Duration
The premium amount of your Travel Insurance Policy would be higher in case if you are travelling for a longer time period and vice versa. This is because the chances of facing a medical emergency would be higher while being on a trip for a long time. Hence, the period of coverage given by the company would also require to be longer, eventually impacting the premium of your Travel Insurance.
- Health and Age of the Insured Members
Policyholder’s age is another major element which determines the premium amount of a Travel Insurance Plan. Higher premium amount is charged with an increase in age. Additionally, if any of the insured is suffering from pre-existing medical conditions, the premium amount will increase.
- Type of Coverage
The premium amount of a Travel Insurance Plan is also directly impacted by the type of coverage plan you choose between comprehensive coverage or medical coverage. This is because premiums for travel plans with comprehensive coverage are higher as they offer a wide scope of coverage than as compared to travel plans with medical coverage only.
- Discounts Offered
Your amount of premium payment might also get impacted by discounts offered by your Travel Insurance Company. These discounts can be offered on purchasing a policy online or for pre-existing customers who already have another insurance policy with the same insurer, etc. Such discount can be used to lower the cost of premium as higher the discount, lesser will be the amount of premium to be deposited.
Visitors Insurance – Eligibility Criteria
Travel insurance eligibility criteria might vary amongst different Travel Insurance Plans offered in the market such as Student Travel Insurance Plan, Family-Floater Insurance Plan, Senior Citizen Travel Insurance and a lot more. Therefore, we have gathered the common eligibility criteria which are required to be met for purchasing a Travel Insurance Policy-
- Any individual travelling overseas for leisure, business or higher education can buy a Travel Insurance Policy.
- Generally, many of the Travel Insurance Policies provide coverage to a child from birth. Similarly, some Travel Insurance Policies offer coverage to senior citizens up to 99 years of age. The minimum age to buy a travel insurance policy independently is 18 years.
- Maximum age for entry in Travel Insurance Policy ranges between 60 to 70 years. However, there are Senior Citizen Travel Insurance Policies which provide coverage to senior citizens.
- Coverage of the Travel Insurance Plan is also dependent upon the duration of travel.
- The time period of a Single-Trip Travel Insurance Plan is based on the duration of the travel and the maximum coverage allowed under it is up to 180 days. However, in case of Annual Multi-Trip Policies, coverage can be availed for up to one year. A single trip under such plans is given coverage for up to 30, 45, 60 or 90 days depending on your Insurance Company.
- One year of coverage period is permitted under Student Travel Insurance Plans which can also be extended for up to 2 to 3 years till the completion of the student’s education.
Concluding, it is greatly advantageous to invest in a Travel Insurance Plan as it safeguards you from suffering a financial strain caused by the occurrence of any contingency on the trip. By now, you must have understood the justified reasons to buy Travel Insurance and the necessity of investing in a good Travel Insurance Plan before planning to make a trip, for work and leisure both.
Also Read: How to choose best Travel Insurance Plan?
Buy Travel Insurance Online FAQs
If I am evacuated on grounds of medical reason, can I continue my treatment in India?
Such evacuation on medical grounds is stated as Medical Repatriation. Medical repatriation is covered under travel insurance plans and you would be compensated for the transportation expenses back to India and also for the cost of treatments taken in India.
What is the minimum and the maximum duration the insurance can be purchased?
The minimum and maximum duration of a Travel Insurance Policy ranges between one day and for a maximum duration of 365 days. Under single trip policies, the maximum duration of coverage allowed is 180 days and for annual multi-trip policies, the maximum coverage duration is 365 days. Moreover, under annual multi-trip policies, a single trip can be covered for a maximum of 30 days to 180 days depending on different plans.
Can I buy more than one travel insurance policy?
No, you cannot insure one trip under two or more travel insurance policies. Your trip should be covered under one policy only.