Aug 24 2016
We expect everything to go our way while planning a trip to another country or city. However, chances are there that we might be caught up in the midst of unforeseen losses caused by theft, health hazards or loss of baggage. All of us will need to determine the best travel insurance deal, but we have to analyze certain factors before we choose one.
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Travel Insurance cover must be considered, not its price
The policy pricing often proves to be the deal breaking factor in your attempt to pick the right travel insurance policy. The deal is certainly not right for you if it doesn’t cover the key scenarios that might arise during your trip.
Your travel insurance policy must cover the following scenarios:
A small dental emergency might cost you up to 80,000 INR. This seems critical as there’s a real possibility that you might undergo a medical emergency.
Loss of baggage
You may acquire protect against loss of baggage under your travel insurance in the event you’re carrying electronics, jewelry and other valuables. The loss of passport is also covered under some policies. Such insurers will provide you with the expenses that you incur with your duplicate passport.
Interruption and cancellation of trips
Certain emergencies might compel us to opt for last minute trip cancellations. Airline tickets might not be refunded or might levy a cancellation charge. Travel insurance plays a crucial role over here. Claiming a reimbursement is possible as per the policy clauses.
Check for What is Not Covered in Travel Insurance
Insurance Claims are meant to be covered under a few listed events. Being a policyholder you’ll need to go through the exclusions and inclusions mentioned in the policy papers very carefully. You’ll also need to consider all situations under which the policy remains active. There are instances wherein you might decide on travelling against the advice of your physician. For such instances, your policy may not cover medical expenses that you incur (directly or indirectly) while travelling.
Get acquainted with the claim settlement process
You must prepare yourself for filing a claim in the event of an emergency. It’s in your best interest to acquire more knowledge on the claims settlement process. While applying for reimbursements, you’ll need to make sure that you adhere to all necessary documentation and meet the deadlines.
Check the refund policy of Travel Insurance
You might need to cut your trip short if your travel plans change. Under such circumstances, you might obtain a refund that’s calculated on the basis of pro rata or any partial refund. All you need to be sure of is that your policy is still valid and that you hadn’t filed for any claim earlier. Also make sure that the contact information of the insurer is still there with you.
You must pick the best travel insurance plan for your needs. Be it your international or domestic trip, you’ll have a plethora of options available to you. A yearly overseas coverage might just seem more economical for those that travel more frequently. Prior to signing the dotted area of your policy paper, you must check the duration of your policy. Enjoy a safe and pleasant trip by investing in the right travel insurance.