Here’s How to Choose an Affordable Travel Insurance Plan

Posted on: May 4, 2022 | | Written by:

Here’s How to Choose an Affordable Travel Insurance Plan

How to Choose Affordable Travel Insurance

Are you planning for an international trip? Apart from flight and hotel bookings, it is advisable to check out the best travel insurance cover which meets your requirements. A travel insurance policy secures the trip and provides coverage for loss against any unforeseen events. Also, travel insurance is mandatory when travelling to Schengen countries and many other nations. However, even if it is not mandatory, it is safe to buy a travel insurance cover to get reimbursement for any medical emergency, luggage delay, or other unwanted situation during the trip. However, it is essential to be wise while buying a travel insurance cover, as small mistakes can lead you to pay higher premiums. Now let us see various ways by which you can buy an affordable travel insurance plan for yourself.

Ways to Choose an Affordable Travel Insurance Plan

1. Check Your Requirements as Per the Destination

Knowing the risks, you’re most likely to face abroad will help you prepare for them. The location, climate, weather situations etc., all come in handy while picking a plan. For instance, if you’re used to a tropical climate but going to an icy country, then falling sick with cold or climate changes are high. Similarly, if your itinerary includes participating in some adventure sports, it is best to have a plan covering adventure sports. If your parents are travelling with you, opt for a family floater plan that provides them with the appropriate coverage. You need to do your research and assess all the risks you’re likely to encounter before looking for a suitable insurance plan.

2. Research & Compare Different Plans

Numerous travel insurance companies in India offer varying plans to suit the needs of different travellers. From country-specific plans to plans catering to only medical expenses, you will find a variety of benefits and coverage options at varying costs. Therefore, it is best to have an upper limit up to which you can browse different plans online. Then, depending on the insurer, you will be able to find the ones with maximum coverage suited to your needs without exceeding your premium budget.

3. Opt for Annual Multi-Trip Plans

If you’re a frequent traveller and travel more than two or three times a year, you’re better off with an annual plan. These plans are not only less costly than single trip plans but also offer a lot of benefits that are not available with other plans. These plans are also valid for a longer time, usually a year, so you can also save a lot of time that would have been spent purchasing a new plan before every trip.

4. Confirm the Deductibles

Before blindly going for the least expensive insurance plan, don't forget to check the excess mentioned in the policy. Also known as deductibles, these are the expenses that the policyholder must pay, after which the insurer will pay the remaining amount. Deductibles are to be paid yourself and can't be reimbursed. Thus, you should check the exact benefits and ensure that deductibles are not too high. This will defeat the purpose of buying a less expensive plan.

5. Avoid Add-Ons

Add-ons coverage can offer you certain benefits as per the requirement of your trip; however, if it is not necessary for your trip, it should be avoided. Add-ons or riders are extended coverage otherwise not offered by standard plans. These can be bought at an extra premium which may not seem a lot but add ups to a significant number if you buy more than one or two options.

Conclusion

Buying a travel insurance plan is indeed an important thing for your trip. When there is a Ukraine-Russia crisis going on and coronavirus cases are still occurring in many places, there are possibilities for any unforeseen incident that can lead to losses during the journey. Hence, you need to buy a travel insurance cover for the journey smartly by following the above-mentioned tips that will help avoid you paying a higher premium. With HDFC Ergo travel insurance policy, you get a vast network of one lakh plus cashless hospitals.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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