Buying Travel Insurance – A Handy Guide

By Kishore Sabareeshan | April 25, 2019

Considering Travel Insurance? This handy guide should help you choose the right plan!

Buying Travel Insurance - A Handy Guide

Gone are the days when you had to meet your travel agent to enquire about Travel Insurance. Today, you can compare, explore and find policies at your fingertips. While this is a welcome change, the open market has hundreds of options staring right back at you. How do you know which one’s best for you? This guide may help make your search easier!

Follow the below steps before choosing your Travel Insurance cover.

Psst.. click here to explore Travel Credit Cards.

Be Clear About Any Pre-existing Conditions

By this, we’re referring to any past illness or diagnosed condition, such as diabetes, for instance. Clarity on this will help you target Travel Insurance plans that cover your condition.

Choose A Policy Whose Duration Suits Your Itinerary

Before you zero in on a Travel Insurance policy, consider the possibility of your trip to get extended. If you feel this may happen, you can just go for a policy that covers you for slightly longer than your travel days. If you’re someone who has frequent trips coming up, you may want to opt for a multi-trip policy. Not only does thing work out to be more convenient than choosing a policy for every single trip, but it also helps you save in the long run.

Additional Reading: Why Multi-Trip Travel Insurance Is A Good Option

Choose A Policy That Covers Your Destination

Yep, you don’t want to randomly pick a policy only to discover that the country you’re visiting is not covered under it! That’s just a waste of money. This basic check is implied, but it cannot be missed out.

Luggage Coverage

How many of us have endlessly waited by the baggage claim counter only to realise that our bags haven’t made it? This can be an unsettling situation, no doubt! You don’t have control over such situations, but you can always get a Travel Insurance plan that covers you in case of luggage loss. Some policies also offer specific cover for your valuables like jewellery or your passport, so make sure you read the offer terms thoroughly before making a decision.

Additional Reading: Purchasing Travel Insurance

Are Your Gadgets Covered Too?

It’s almost impossible to imagine travelling anywhere sans an electronic gadget, and of course, there’s always a chance you may lose your smartphone or laptop anytime during your trip. If you’re very particular about having your gadgets covered, you may want to look for a policy that provides this coverage. Note that cover for electronics is not too common.

Planning To Do Anything Adventurous?

Be sure to check if a policy covers activities you’re likely to engage in and may cause you an injury (we don’t wish that, of course) when you’re on a holiday. For instance, some policies cover bike accidents or sporting injuries sustained during your trip, so be sure to do your research, and no, we’re not being paranoid, it’s just for safety sake.

Additional Reading: What You Need To Know About Travel Insurance

Cancellation Coverage May Help

Emergencies can happen when you least expect them. If you need to cut short your vacation to tend to an emergency back home, it makes sense to be covered under a Travel Insurance policy that factors in cancellation costs.

Claim Amount

Another factor to take note of the claim amount offered by a Travel Insurance policy. Each plan has its own specific limits, so it makes sense to be aware of the extent to which you’re covered under the insurance plan. This way, you’ll at least be financially prepared to handle any cost that goes beyond the specified limit.

Do keep in mind that while we’ve addressed some rather unpleasant scenarios above, these are only to be seen from the point of view of coverage – we do wish you a happy and safe trip! In fact, staying covered under a Travel Insurance policy can give you peace of mind wherever you go.

Looking for other types of insurance coverage?

 

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.

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