Choosing the best travel insurance can be a daunting experience. Not because it is difficult to buy one or because it is expensive but because of the price laddering strategy and the fear of missing out on getting the right coverage for your needs for the right price. This is why knowing and considering various factors is essential to get the best coverage for your needs.
Keep reading to know all you need to know to get the best travel insurance online.
What is travel insurance?
Travel insurance is a risk management system that protects travellers from various medical and non-medical risks when they travel. This protection is offered in the form of compensation or reimbursement for expenses incurred when dealing with covered risks, as per the policy document, as well as cashless claims, where the policyholder doesn’t have to make an out-of-pocket payment and just gets the claim approved at the healthcare provider.
Who needs travel insurance India?
If you are wondering whether you need travel insurance for your trip, here is a list of questions you can ask to understand whether you need travel insurance and what type of insurance you should opt for.
Is this an important or pricey trip?
While it is possible to travel on a budget, foreign travel can be pretty expensive. The most significant expenses are flight tickets and accommodation, and travel insurance needs to be considered if these are particularly expensive. This is because the cancellation of a trip can result in significant financial loss and a negative travel experience.
Where are you going?
Travelling to countries like the United States is a dream come true for many, but in the USA, even a short hospital visit can result in significant financial strain on your wallet and lead to a lack of proper medical care. With travel insurance, it is possible to get compensation or reimbursement for medical expenses, including hospitalisation due to a medical emergency.
How long will you be travelling for?
While it is recommended that all travellers take out travel insurance regardless of the duration of their visit, it is a commonly known fact that the longer a trip is, the higher the chances of risk. Thus, it is even more necessary for travellers to take out the right travel insurance policy with coverage for personal accidents, personal liability, loss of passport, emergency cash, etc.
What will you be doing once you are there?
Every traveller has different priorities and reasons they are travelling. Knowing and considering these needs is essential to ensure adequate coverage, whether it is business, education, or leisure. For example, if you are travelling for business, you might have business-critical equipment which might need coverage. In contrast, student-specific coverages such as sponsor protection or study interruption can be beneficial if you are a student. If you are participating in adventure activities when travelling for leisure, you will need travel insurance with adventure sports coverage.
Do you have any health concerns?
Typically, insurers do not cover pre-existing diseases, and any expenses arising from those diseases will not be covered. This is where looking for an insurer offering pre-existing disease coverage or with that coverage can make the difference for most travellers.
Where to buy top travel insurance India?
If you want to buy travel insurance online, Bajaj Allianz is one of the best insurers, offering reliable travel insurance policies at affordable prices. Bajaj’s policies start at just INR 223 and offer smartphone-based paperless claim settlements, 24×7 assistance, coverage for 216 countries and islands, compensation for flights delayed by four hours or more, no deductibles and numerous add-ons adventure sports, hospitalisation cover, check-in baggage delay, loss of passport, emergency cash advance, trip cancellation cover, etc.
Conclusion
If you are planning an international trip in 2024, it is imperative to look for and purchase the right travel insurance. Foreign trips are expensive, and even short trips can lead to significant financial loss if you face any of the covered risks.
For example, if you are planning a trip to the UK and have already spent hundreds of pounds on hotel bookings, flights, local transportation, etc., these costs can mount up. Now, imagine you have to cancel your trip at the last minute due to a medical emergency, and all of these deposits were non-refundable. This can have a significant financial impact, even if you can’t get on the trip. This is where travel insurance offers travellers confidence and peace of mind to travel freely.
