Take the policy only for the number of days of your trip. Travel insurance is usually charged on a slab basis. But ICICI Lombard offers you the pay per day facility. So you pay exactly for the number of days you have been away and not more.
Don't just compare the prices of travel insurance products, compare also the benefits of the cover, the exclusions on the cover and other product features.
At the time of taking a policy, remember to take the list of region specific toll free contact numbers.
While buying a travel policy, look beyond premiums. Give importance to the claims procedure and the cashless hospital network available. Do get a list of the network hospitals before deciding on your policy.
Also check out for other covers (like terrorism, hijack distress allowance etc) available apart from the loss/ damage of baggage/ passport cover, personal liability cover and medical and personal accident cover.