How To Get The Best Value Out of Your Travel Insurance?

Insurance is all about securing your money in case of unfortunate events and travel insurance does exactly that by providing a cover for your losses while you are on a trip. You can choose between different types of travel insurance plans depending upon the nature of your trip. Travel insurance companies offer a lot of benefits as per the plan you buy.

How To Get The Best Value Out of Your Travel Insurance? - Acko

Here is how to get the best value from your policy according to the plan you choose:

Types of travel insurance and how to get their best value?

Individual Travel Insurance Plan

An individual travel insurance plan is meant for people who need to travel alone. These plans provide a host of coverages which are useful when traveling without company. To get the best travel insurance plan of this type, avail coverages against personal accidents and loss of important documents like passport or visa, etc. Some travel insurance companies also provide a feature of withdrawing cash in advance for emergency situations.

Family Travel Insurance Plan

You can secure your family vacation with the Family Travel insurance plan. This plan can be availed by a group of people related by blood for securing their trip. It is a good idea to avail covers like home burglary insurance, delay of checked-in baggage, etc. Many travel insurance companies provide covers like fire at home, property damage while on a vacation, etc. These could provide the best value for your travel insurance plan if your whole family is traveling together.

Group Travel Insurance Plan

A Group travel insurance plan is similar to the Family travel insurance plan however, this plan can be bought by people who are not necessarily related by blood. This plan is ideal for a group of friends or colleagues traveling together. To get the best travel insurance plan for a group travel, one should buy a trip cancellation cover. This is because the probability of a trip getting canceled increases while traveling with friends or colleagues.

Senior Citizen Travel Insurance Plan

As the name suggests, this plan is designed especially for people above the age of 60 years. As in some cases, the health of a senior citizen is frail, focusing on availing maximum coverage related to their health could be helpful. Coverage for availing medical treatments for sudden illness, injury or death is available under a Senior citizen travel insurance plan. Along with this, a cover of untimely demise and expenses incurred during the transportation of insured’s mortal remains to the location of residence are covered under this plan.

Student Travel Insurance Plan

This plan is helpful for people who wish to study away from home. The duration of these plans can be up to 3 years depending upon the terms and conditions of the travel insurance company. A student can get the best travel insurance plan by availing coverages like the following under a Student Travel Insurance Plan:

  • Reimbursement of ticket fare for a family member if the insured person is hospitalized.
  • Reimbursement of fees if the insured discontinues education due to a medical condition.

How to compare travel insurance plans?

Nowadays, many travel insurance companies offer plans which are of great value while traveling for a vacation or for work. This makes it important to compare travel insurance plans and buy the best one possible. The best plan could be different for each person depending upon their individual requirements and the reason for traveling.

To compare travel insurance online, simply visit any the insurer’s websites. You will find tools offer tools for comparing insurance policies. Submit your requirements and you will be given a list of suitable plans.

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