Insuring your trip with travel insurance will provide the necessary support in an unknown territory. While on your trip, you may face a certain situation in which you may need extra money or assistance. Availing the help from your insurance company through travel insurance will ensure a smooth sail in rough times.
One could go on a trip for a number of reasons – to enjoy a vacation, to work on a business trip, to visit a relative in their difficult times, etc. The nature of your trip is irrelevant to certain conditions like accidents, trip cancellations or loss of baggage or documents. These incidents are unpredictable. Travel insurance provides a layer of security against these incidents and more, depending on the plan you select. Thus, securing your trip with travel insurance is necessary.
Questions to ask When you Buy Travel Insurance Online?
Similar to any product you buy, buying travel insurance online in India also requires you to follow certain steps. Before you buy travel insurance online, you should take your personal requirements into consideration. A travel insurance policy is not a one-size-fits-all product. You can customize your policy coverage as per your needs. If you are new to travel insurance, begin gauging your requirements by asking yourself the following questions:
- What is the nature of my trip?: Base your answers on the needs you want your travel insurance to fulfill. The next step is to look for a travel insurance plan that is in sync with your needs. Select the coverage based on the nature of your trip. You could require basic coverage if you are traveling on a business trip. If you are on a vacation you may need more than the basic coverage. Say an extended accident cover or loss of baggage add-on.
- Am I traveling alone?: Your travel insurance policy can be of different types based on the number of people traveling. For people traveling solo, the policy could focus more on staying safe during the trip. When traveling with elderly people, the attention should be given to their health and the things associated with medical emergencies. When traveling in a larger group of people, the focus could be on availing a cover for trip cancellations, flight delay, emergency hotel stay, etc.
Things to Consider when you Buy Travel Insurance Online
After you are done accessing your needs, you can set out to find the ideal plan. Traditionally, looking for the most suitable plan was a tedious process However, nowadays buying travel insurance online has overridden the time-consuming procedure. You can buy travel insurance online in India by either going getting assistance from an insurance aggregator or by directly visiting the insurance company’s website.
You can traverse through different travel insurance plans of the similar type on the aggregator’s website. Select a plan after careful comparison in terms of coverage, exclusions, and price. Yes, price should be the last parameter for comparing travel insurance policies.
Conducting a simple background check of the insurance company will also be beneficial. An insurer that offers an affordable plan that is rich in features will be preferable. Also, their post-sales services should be prompt. Since insurance does not provide instant gratification, you need to believe the words of the company’s policyholders. Also, use social media to know the reputation of the insurance company.
The last step is to select a plan and make the payment. However, make sure to read the fine print, terms and conditions, and exclusions of your travel insurance plan before making the payment. If in doubt, don’t hesitate to get in touch with the insurer and get the necessary clarification.
Common Exclusions of Travel Insurance
The following situations are usually not covered under a travel insurance plan.
- Hospitalization due to pre-existing illnesses
- Loss of keys
- Missed transport due to local protests/civil unrest
- Self-inflicted injuries or illnesses
- Mental disorder
- Anxiety, stress or depression
- Alcohol or drug abuse
COVID-19: Insurers Allowed to Extend Travel Insurance Without Charges
– April 1, 2020
The Insurance Regulatory and Authority of India (IRDAI) has directed insurance companies that they may allow travel insurance policyholders to extend the commencement or the end date of policies. Those policies which are valid between 22 March and 30 April 2020 are eligible for the extension. The announcement comes amid the lockdown announcement made by the government of India. This means that policyholders may have the option to extend their travel insurance dates without paying any penalty or charges. This will provide some relief to flyers who have to either reschedule their air ticket due to the lockdown which mandates people from not venturing outside their homes.
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