Travel insurance is a protection for travellers that covers any loss of baggage, delays, flight cancellations, medical expenses and third party liabilities. It ensures the safety of travellers and belongings they carry during their trip. Yes, indeed travelling is fun! Only if it is done worry free.
Whether you are going for work purposes, leisure, or studies, you surely will want to save the moment. Travelling to a foreign land is a challenging activity. Thus, you need to equip yourself with necessary gear like a best travel insurance plan. This will keep you prepared to encounter any unforeseen expenses or loss smoothly.
How To Choose The Best Travel Insurance Plan?
If you are worried about which plan is right for you, check out the following essential points that will help you choose the best possible plan according to your requirement and budget.
Look For Comprehensive Policy
While buying travel insurance, understanding policy coverage is essential. A good policy covers wide and comprehensive covers that includes all the possibilities of loss, damage, and emergencies. Look out for a comprehensive travel insurance plan as it is one type that offers extensive coverage including medical support and emergency assistance. Furthermore, you can opt for add-ons according to your requirement during the trip.
Always Check For Inclusions And Exclusions
It is better to be safe than sorry. Therefore, always remember to check inclusions and exclusions of the policy. While checking the policy inclusions, see if your requirements are all listed under it or not. Furthermore, check what exclusions are there and accordingly make informed decisions for your trip.
Consider Duration Of Policy
Another important factor is to check the duration of policy, as it ensures that it will cover the entire duration of your trip including potential delays or extensions. If you have multiple trips planned, your plan should cover each trip. This such case, you should opt for a multi-trip policy, as it will be the best travel insurance plan for you.
Decide Adequate Sum Insured
Sum insured is the maximum amount of money that your insurer will pay to cover your expenses under policy. Set your sum insured high, as it protects you financially against medical expenses, trip cancellations, and other unexpected events like loss of baggage or theft. While deciding adequate sum insured, assess your needs and policy terms and conditions. With high sum insured, you need to pay high premiums.
However, choosing a high amount that covers all your potential travel threats is necessary. If your sum insured is insufficient, you may face financial burden at the time of crisis, as you will have to pay an exceeding amount from your own pocket.
Choose Affordable Premiums
Premiums are decided on factors like sum insured, what is your age, where you are going on trip, your medical conditions, your itinerary, and what luggage you are carrying. Do not burden yourself with high premiums. Choose the plan that is affordable with maximum benefits, and you can ask your insurer for monthly, quarterly, half-yearly, or yearly payments.
However, there are many cheap online travel insurance policies, but not all are efficient and ideal options. Choose the best travel insurance that provides all necessary coverage and efficiently covers your entire journey.
Opt For Claim Settlement Process
A right travel insurance plan offers a seamless and efficient claim settlement process. Claim settlement process needs to be fast enough to resolve your queries and claims at the time of need. For example, if you accidentally get injured and get treatment in a hospital nearby, and if your insurer does not quickly respond or settles your claim, you will have to pay from your own pocket, leading to financial burden on a foreign land considering you are not in a good state of mind or body. Therefore, speedy claim settlement is necessary.
Look For Cashless Facilities
Cashless facility is offered by insurers wherein insurers have collaborations with their network hospital in the country you’re travelling to. Under cashless services, you can get treated in one of the network hospitals of your insurer in case of emergencies or accident without paying any upfront money out of your own pocket. Your insurer will handle the expenses directly with the hospital and will settle it against your sum insured.
Conclusion
Whether travelling with your family or alone, securing your trip is essential. It is indeed a lifesaver, and therefore while choosing the best travel insurance, you need to do some research, compare, and then make your decision. Always look for the type of policy, coverage plans, exclusions, premiums, and other benefits it offers.
Reviews and reputation of insurance companies extremely matters and thus ensure to check the past customers experiences and claim settlement history. Chola MS offers amazing insurance deals and offers transparency and flexibility to its clients. You can sign up to email newsletters, to be updated on insurance details.