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Insurance Article

Points to consider before you buy family travel insurance

January 05 2019

Carefully examine the inclusions and exclusions in the coverage offered by the travel insurance policy

Travelling with your family is fun and an opportunity to create some lifetime memories. However, at the same time, it’s also a big responsibility and a matter of concern to serve your loved ones with complete care during the trip. You need to make sure that they are protected against any unforeseen incident such as falling ill, loss of luggage or passports, or meeting with an accident on foreign shores, etc., which may ruin your entire family vacation.

That is why it is prudent to travel with a travel insurance plan. It is tailor-made to deal with such troubles during the trip, ranging from health issues to loss of luggage and accidents. You can opt for travel insurance at the time of booking your trip or you can purchase it later to insure your trip before it starts.

Whether you are planning to travel abroad or within the country, there are suitable plans for every trip, structured to offer maximum benefits and provide complete protection to you and your family. Here are a few important points that you should consider before buying a family travel insurance policy to ensure you choose the best possible plan for yourself:

Decide whether you want a single trip policy or annual plan

There are different travel insurance plans available to suit varying needs of the buyer. If you’re planning to visit a foreign country only once, you can choose a single trip insurance plan whereas if you’re a frequent flyer, it is ideal for you to opt for an annual travel insurance plan that covers multiple trips. Also, there are exclusive plans specially crafted for various segments of travellers such as senior citizens, women and students, etc. The premium of your policy will be calculated on the type of policy and coverage you choose.

Identify the coverage type provided by the policy

Before finalizing a deal, it makes sense to find out more details about the coverage type offered by your intended travel insurance policy. Determine whether you need a primary travel insurance plan or a secondary one. The primary travel insurance plan provides an out-and-out coverage with on-spot assistance whereas secondary travel insurance has a provision for reimbursement. This means that you’ll be required to make all the payments in case of an emergency and claim the reimbursement from your travel insurance provider later.

Know about the level of medical coverage in the policy

It is important that you understand how much medical coverage is provided by the policy and under what circumstances you can make a claim. If anyone in your family has a pre-existing medical condition, you’ll need to confirm whether it is included in the policy or not. You should also gain a clear idea of diseases covered under the travel insurance plan and how much you will be required to pay before the medical cover kicks in.

Disclose the medical history of your family

If anyone in your family has a medical history in terms of a serious disease or if you consume alcohol or tobacco on a regular basis, the premium amount for your travel insurance is likely to go up. But it’s important to disclose all the pre-existing medical conditions of each family member to avoid any hassles when you seek claim at foreign shores. The policy premium also depends on the age and number of family members as per the risk factor associated with them.

Carefully examine the exclusions in your policy

It’s prudent to carefully check for the inclusions and exclusions in a travel insurance plan before choosing the one. Don’t fall for the cheapest travel insurance policy that you find on the web. Be very vigilant while examining all the terms and conditions of the policy and check if it imposes certain restrictions on specific destinations, activities and illnesses, etc. Choose the plan with the least exclusions or the one which is best suited to your requirements.

Check if the policy provides cancellation coverage

Things always don’t go according to plan, and there can be some unexpected circumstances which can lead you to cancel your trip. A travel health insurance can help you such a scenario by reimbursing you for the lost funds from the cancellations of your flight tickets, hotel bookings, car hire, etc. However, to avail this facility, you need to ensure that your travel insurance covers the trip cancellation charges while buying the policy.

Apart from these considerations, don’t forget to check if your travel insurer is registered with the Insurance Regulatory and Development Authority of India (IRDAI). Do your own research, compare various travel insurance plans before choosing the best plan that suits your needs.

Related Article:

Annual or Single Trip Insurance: What to Choose!
Travel Insurance - Cost or Investment?

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