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Better be safe than sorry. Buying an inappropriate travel insurance (not fit for the kind of trip one is looking forward to) is equal to having no travel insurance. One has to be very careful while buying travel insurance. If bought correctly then it can prove to be a savior, or else if wrong decision is taken then it can prove to be a catastrophe. One thing that can be done is to call the insurance agent itself and ask him to advice the appropriate policy of travel insurance depending on your plans about the trip. There are some points which need to be considered while buying travel insurance. However, the basic point is the type of trip you are planning to go. For e.g. If trip is typically ‘short and sweet’ then a travel insurance with minimum coverage would do. Apart from this there are few more points that have to be considered irrespective of whether one is buying travel insurance online or offline .Below are a couple of points to be taken care of: • Claims: insurance that won’t make good on one’s claims is of no use. Thus settlement of claims should of elementary concern for the buyer. • What all is included in the insurance? If the possible losses that can occur are not covered by the insurance, then buying such insurance is not beneficial. The basic losses that travel insurance should cover include emergency medical expenses, medical evacuation, trip cancellation, bankruptcy protection, lost or robbed luggage etc. • Cost: the cost of the policy of travel insurance can vary depending on the insurer. It is important to make sure that the policy that one buys should cover most of the losses as well as costs what its worth. • While selecting the policy that fits best to your plan, one should, along with monetary coverage, also look for one that offers travel assistance. As a part of the travel assistance the customer is provided with a 24 hr helpline number. On this number one can find everything including a translator as well as a reputed local doctor. • Before buying travel insurance policy always make it a point that u understand the deductible as well as the coverage limits. • Compare different policies available and also its prices to decide what suits your plan the most. • While buying the travel insurance make it a point to confirm that there are no destination restrictions. Also at times countries have there are own rules and facilities for tourists. It is advisable to be well informed about such rules and facilities too. • See to it that you obtain complete details about what hazardous activities your policy covers as well as what activities it does not cover. • Buy the travel insurance atleast two weeks before embarking on a journey. Hence this enables you to get maximum coverage. • While interacting with your agent, be honest to him about your travel plans so that he could advice you right about the policy that suits your requirements. Author Profile: Pranav Sharma is an insurance agent based in Mumbai; Pranav assists individuals and corporates in purchasing the right travel insurance policy online & often shares his insights about the general insurance industry on internet.
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