Wanderlust has taken many under its wings. For those who don’t know, wanderlust is the strong urge to travel and seek out new places. Travelling soothes the soul and calms the mind. It gives you many cherished memories and experiences. However, going out more means you are putting yourself at more risk. Don’t let that stop you from visiting your dream destinations. Buy a Travel Insurance with the best coverage for your needs and travel without fear.
About Travel Insurance
Just like every other insurance, Travel insurance provides security and controls the damage that could occur during your travels. Protect yourself from all kinds of loss by taking cover under a good travel insurance plan. Other incidents that could hinder your travel experience like flight delays, ticket cancellation, loss of checked baggage, and other emergencies are also included in the coverage policies of most Travel Insurance plans.
Importance of Travel Insurance
When you plan to take your family out on vacation or even when going for it alone, you make detailed plans and budget the whole trip. However, not including insurance in your plan can spell trouble when you are in the middle of having fun. Disasters strike without a warning and it would do you good to stay prepared. The best precaution you can take when travelling is to get travel insurance.
It can get very stressful to deal with unfavourable events in an alien country. Whenever you travel abroad, it is of utmost importance that you have yourself insured against such outcomes. Travel insurance makes sure that you can easily deal with any kind of difficulty that you encounter. Now that you know the importance of insurance when travelling, it is time to look at some very good plans that fit your budget without any problems.
Best Travel Insurance Policies in India by Top Insurance Companies
Here are some plans that will take the stress off you the next time you go roaming the world. The eligibility to buy the plan, what each plan cover and what it excludes has been compiled together to give you a fair idea of what policy would be best suited for your purpose and requirements.
SBI Travel Insurance
- Eligibility: 6 months to 70 years
- Medical Check-up: Not Required
- What it Covers: Up to 10% Accidental Cover up to the cover limit or $25,000; Up to 50% Personal Liability Cover of the cover limit or $2,00,000; Loss of passport, loss of checked luggage, hijack, etc.
- What it Does Not: Claims by someone who is in the Military, Air Force or Navy; Claims related to Nuclear or Civil War, or when flying in an aircraft not licensed to carry passengers; Injury or loss due to mountain climbing, racing, or other professional sports; criminal acts.
TATA AIG Travel Insurance
- Eligibility: Up to 70 years
- Medical Check-up: Not Required
- What it Covers: Death or dismemberment caused by an accident; Delay or loss of luggage, lost passport, hijacking, ticket cancellation, delay in trip.
- What it Does Not:Travelling even after advised against it by a physician or travelling for medical treatment; Claims that were caused by any pre-existing conditions; Suicide attempt, mental disorder, STD, depression; Claims arising due to war, life-threatening sports, etc.
Bajaj Allianz Travel Insurance
- Eligibility: Up to 75 years
- Medical Check-up: Not required
- What it Covers: Expenses for Hospitalisation, loss of luggage, delay in trip or cancellation, emergency cash in foreign country.
- What it Does Not: Suicide attempt due to a mental disorder, drugs or alcohol consumption; Treatment other than allopathy, pregnancy, childbirth, miscarriage, or abortion; Lost passport.
HDFC ERGO Travel Insurance
- Eligibility:6 months to 70 years
- Medical Check-upL: Not Required for person below 70 years
- What it Covers: Emergency medical expenses; Dental expenses; Hospital expenses in emergency, Personal accident cover, Delay in flight, loss of checked luggage, or passport; Flight Hijack cover.
- What it Does Not: Suicide attempt due to mental illness, drug or alcohol consumption; Treatment other than allopathy, pregnancy, childbirth, miscarriage or abortion.
Bharti AXA Travel Insurance
- Eligibility: 3 months to 60 years
- Medical Check-up: Not Required
- What it Covers:Emergency medical expenses due to excavation or death; Personal accident that causes death or dismemberment; Loss of Passport or other documents necessary for travelling; Delay in trip or loss or delay of checked luggage.
- What it Does Not: Pre-existing medical conditions, Expenses relating to cosmetic surgery unless due to an accident; Injuries due to life-harming sports or activities, like bungee jumping, skydiving, etc.; Loss of baggage or passport that is unreported within 24 hours of its occurrence; Loss of an item from within the luggage.
Future Generali Travel Insurance
- Eligibility: 6 months to 71 years; 71 to 80 years as Senior Citizen
- Medical Check-up: Not Required
- What it Covers: Loss of checked Luggage; Compensation in case of passport loss; Personal accident that causes death or dismemberment permanently.
- What it Does Not:Claims arising due to Pre-existing medical conditions; Emergency situations caused by the consumption of alcohol or any other intoxicants; Self-inflicted body injuries; Medical emergency due to pregnancy, childbirth, miscarriage or abortion.
IFFCOTokio Travel Insurance
- Eligibility: No criteria
- Medical Check-up: Not Required for person under 70 years of age
- What it Covers: All Health Care expenses including dental expenses; Daily hospital cash; Passport loss; Personal accident; Personal Liability; Loss of Luggage; Delay in Flight.
- What it Does Not: Any claims after policy commencement relating to pre-existing conditions; Claims from individuals in the Military, Air-force, or Navy; Claims arising due to riots, terrorist activities, etc.; Injuries indirectly caused by radioactive, hazardous or ionizing acts.
Cholamandalam Travel Insurance
- Eligibility: 3 months to 80 years; 61 to 70 as Senior Citizens
- Medical Check-up: Not Required for person under 65 years of age
- What it Covers: Medical emergencies when travelling; Cover for illness and injuries; Loss of checked luggage; Expenses incurred to obtain new passport; Loss due to hijacking
- What it Does Not: Pre-existing medical conditions; Indirect injuries caused by radioactive, hazardous, ionizing acts, etc.; Injuries caused due to participation in fatal activities and sports.
Apollo Munich Travel Insurance
- Eligibility: Not Required
- What it Covers: Medical assistance; Loss of checked luggage; Hijack loss; Personal accident that causes death or permanent dismemberment; trip delay or cancellation; Expenses for obtaining new passport.
- What it Does Not: No cover if the purpose of the trip is to get medical treatment; Any claim as a result of a nuclear or civil war, revolution, riots, nuclear or radioactive contamination, etc.; Medical emergency due to pregnancy, childbirth, miscarriage or abortion; Injuries caused due to life-threatening sports and activities like scuba diving, mountaineering, parachuting, etc.
Type of Travel Insurance Policies
As the requirements differ for every traveller, there are different kinds of travel insurance available. You can choose the one that provides the exact coverage that you want. Here are the various types of travel insurance.
- Domestic Travel Insurance: This travel insurance is for those who plan for a trip within the country. It provides basic coverage for medical expense in emergencies, accidental death or injury, loss of baggage, delay in travel and personal liabilities.
- International Travel Insurance: It offers coverage to travellers who go outside the country. A number of contingencies are covered by this policy including hijacking, evacuations, and loss of passport, apart from the basic covers.
- Corporate Travel Insurance: Employees of a company can get covers when travelling within the country or abroad with this policy.
- Student Travel Insurance: This policy is for those students who travel aboard for further studies on a student visa. This plan is good for such students as it does not require much paperwork and is easy to acquire. It covers expenses related to medical emergencies, loss of passport, and interruptions in study.
- Medical Travel Insurance: It is a short-term plan that includes coverage for health care and expenses related to emergency evacuation when the policy holder travels abroad. The plan depends on the requirements of the individual.
- Senior Citizen Travel Insurance: This policy is for people who belong to the age group of 61-70 years. It covers medical expenses and helps senior citizens to travel with ease. Other benefits include cashless hospitalisation and dental treatments expenses.
- Single Trip and Multi Trip Travel Insurance This policy is for those who travel frequently, thus, giving them a yearly plan so that they do not have to buy a plan every time they travel. Single trip insurance plan is for one trip only and covers the medical and non-medical emergencies as stated in the plan.
- Family Travel Insurance: The all-inclusive travel insurance for the whole family. This is a good option when going for family vacations.
Which Travel Insurance Should You Buy?
These are the factors that affect your choice of travel plan.
- The credibility of the company that you are buying the plan form.
- Choose a plan according to your budget and that gives the most coverage at a given price.
- Go for a company that offers easy buying options so that it is convenient for you.
- The destination of your journey decides the premium you have to pay so budget wisely.
- The premium also depends on the length of the journey. If you travel frequently then it is better to go for a multi-trip plan.
- The purpose of your travel dictates the kind of travel insurance you need.A basic plan is enough for a sightseeing and relaxing trip.For other purposes, look for special plans.
- The premium differs for persons of different ages.
- The amount of sum insured influences the premium as well.
- Add-ons to the existing coverage of a plan increase the premium and also increase the coverage.
- Check the claim settlement ratio to know how active the company is to settle the claims made by its policyholders.
Key Advantages and Features of Travel Insurance
- You should get travel insurance when travelling as it gives you the peace of mind that you need to enjoy the trip.
- The control you have over life is limited but you can take as much control as possible by getting yourself insured for the trip.
- Loss of passport, luggage, or other important things would not cause you much trouble if your insurance covers these losses.
- In case your trip gets cancelled or your flight gets delayed you get benefits like refunds and meal reimbursements.
- Your whole trip gets a whole lot safer if you invest in travel insurance.
“Precaution is better than cure”, and insurance is a precaution whether you travel domestically or internationally.Buy the best travel insurance plan after going through every detail cautiously and you will have nothing to worry about no matter what happens on your trip