While every traveller takes a different approach to travel, all of them want their holidays to be a happy and memorable experience. Whether you visit Turkey by train, China by car or Poland by plane, it is important that you protect each and every journey. Travel insurance allows you to protect yourself against unforeseen events and doesn’t let anything muddle your trip.
For Indians travelling abroad, dealing with the impact of currency difference can be difficult. This is where travel insurance becomes crucial for Indian travellers. However, with the amount of options pertaining to travel insurance that are currently available online, you must compare travel insurance policies before settling on one. Following are a few things to consider when comparing travel insurance policies:
1.Affordability
The cost has its own significance while choosing a policy, but it shouldn’t be the only deciding factor. You should always remember that the more you move towards the cheaper policy the more you will lose with respect to features and coverage. Hence, it’s best to compare travel insurance plans to create the perfect balance between cost and coverage, based on your requirements.
2.Sum Insured
You must be aware of the ratio of the premium to be paid and the total coverage amount. The sum insured is equal to the total coverage amount, which you can claim in an unforeseen event. To put things into perspective, if you’ve opted for a higher sum insured then the cost of international travel insurance policy will be higher and the same ratio applies to a lesser amount insured.
3.Insurer’s Credibility
You must look out for the insurance company’s goodwill in the market and its claim settlement ratio . in the past. Conduct your own market research and due diligence before zeroing on a particular insurance company. Generally, insurance companies with a good reputation can be trusted easily and those with a bad reputation should be avoided at all costs, regardless of how inexpensive their policy might be.
4.Coverage
Different travel insurance policies offer different coverage options. When you are comparing travel insurance policies, you must ensure that the kind of coverage that the policy provides suits with your specific needs. Also, make sure you take a look at the add-ons that are offered by travel insurance policies, as they do come in handy and also widen your coverage umbrella.
5.Travel Duration
The premium of your policy is directly proportional to the duration of your stay. The longer the duration of stay. The longer the duration of stay, the higher the premium. Frequent travellers can access multi-trip plans, which provide coverage for a fixed number of days irrespective of the number of trips.
6.Traveller’s Age
Travel insurance plans vary based on a traveller’s age. If you are below 60 years you can avail regular plans and if you are a senior citizen, then there are special plans for senior citizens, which you can avail at ease.
7.Destination
A lot depends on your destination country. You must check if the healthcare is expensive there or not and if the current travel insurance will be able to bear all your hospitalisation expenses. You must also look out for the number of network hospitals in the destination country.
8.Hassle-free Claim Process
Out of the numerous travel plans available in the market, you must never compromise on convenience. A good travel plan should be easy to avail and the buying experience should be simple and hassle-free.
Besides these crucial factors, most travel insurance policies have exceptions and exclusions while some even have specific clauses. It is vital for you to know them and comprehend their implications when you compare travel insurance policies.