Who doesn’t like travelling? Almost no one! But we surely can’t ignore the fact that travelling might be dangerous as well for ones who love adventures and even others. This is because while travelling one ventures out into domains that are unknown to them, which might be hazardous to their life if precautions are not taken. In addition, there are chances of losing possessions that are extremely valuable. In such cases, one doesn’t want to lose their hard-earned money. Therefore, there are travel insurance plans that not only cover the things carried during travel but also provide life insurance to those who might be at risk of life due to underlying medical conditions, age, or other such reasons.
Reasons Why Travel Insurance Plans Are Important
For various reasons, travel insurance plans are essential when one chooses to travel abroad. However, these also imply to those who are undertaking a domestic journey. These reasons have been explained in brief in the points below.
- You might get sick during the journey or in case of adventures, you might injure yourself heavily. In such situations, having travel insurance for health is important to mitigate such issues.
- In case you need to change the travel plan or cancel it due to any possible reason, having insurance for the same would deter you from incurring unexpected losses. An international student travel insurance is essential for deterring them from these losses.
- If your baggage is lost or delayed at the airport then the insurance money would cover the loss for you. However, the loss of documents might require special attention.
- When the passport is considered, which is an important document for abroad travel, the insurance company will bear the expenses and hassle of getting you a new one. This will save you time and you need not wait for days for the same thing.
- When you experience a delay or cancellation of a flight and need to reschedule, all your bookings in the destination would be affected. You might end up paying for services you didn’t enjoy. Having a travel insurance plan would prevent that.
5 Best Travel Insurance Plans In India
The travel insurance plans that should be considered in India have been discussed below. The list contains various plans that offer distinct services. Therefore, go through them thoroughly before filtering out the one you think is the best for you.
1. Care Insurance International Travel Insurance
The Care Insurance International Travel Insurance plan is eligible for a wide age range and covers both single and multiple trips. There is no bar for the minimum age requirement as even a 1-day baby is eligible to be registered under this plan. However, the maximum age bar is 70 years, which might be a drawback for those who are looking for plans for senior citizens aged more than that. In contrast, it is one of the best travel insurance plans for senior citizens as it covers the implications of pre-existing illnesses (if any).
- Provides cover for pre-existing medical conditions
- Enables reimbursement of fee paid on visa if it is rejected with any fault or negligence by the insured.
- Loss due to war isn’t a part of the plan.
2. Tata AIG Travel Guard
The Tata AIG Travel Guard policy is another plan that is available for both single and multiple trips and covers international travel as well. It provides coverage for accidental death and even dismemberment. In addition, medical costs are borne by the policy that covers any sickness during travel. Those who pay an additional premium are also entitled to loss due to theft or burglary.
- The minimum age for the policy is 6 months for single trips and extends for a lifetime. The multi-trip policy is for adults aged between 19 and 70 years old.
- It offers urgent and immediate cash transfers through various modes such as credit cards, banks, hotels, and even the Western Union.
- It doesn’t provide any renewal services.
- The insured sum of money can be increased only at the time it is renewed with no claim filed or paid under the plan.
- Accidental death and dismemberment coverage is only 10% of the principal insurance sum if the insured person is 17-year-old or below that.
3. Universal Sompo Travel Worldwide
The Universal Sompo Travel Worldwide insurance policy hosts a number of plans to choose from that include covering international travel and students’ and corporate executives’ needs. Therefore, it can be considered as an international student travel insurance that one should go for. It is very helpful in case of emergency situations like deteriorating medical conditions. In addition, it covers a person’s expenses to return to their country. Moreover, personal accidents and losses that are incurred during the travel like loss of baggage are insured under this policy.
- It automatically extends the policy for up to 7 days when needed.
- It offers a wide network of hospitals around the globe that will ensure cashless treatment.
- The policy does not cover any damages that are incurred due to the confiscation of passports by customs and authorities like the police of the country one is travelling in.
4. Bajaj Allianz Bharat Bhraman Insurance Policy
The Bajaj Allianz Bharat Bhraman Insurance Policy is one that only applies to travel insurance plans in India and covers travelling expenses that are very small as well. It provides relief to almost every transport expenditure as it covers expenses spent on public transport like trains or buses. It even bears air travel costs. In addition, the private vehicle (car, scooty, etc) expenses are also borne by it, which is a great thing.
- The personal accident cover ensures death and permanent disability during travel and offers a sum of ₹10 lakh for it.
- Additional premium payers can get insurance against loss due to theft.
- There is no minimum or maximum age restriction, which makes everyone in the family eligible for it.
- It does not cover any travel abroad.
5. ICICI Lombard Overseas Travel Insurance
The ICICI Lombard Overseas Travel Insurance policy is one of the most unique overseas travel insurance plans as it offers the pay-per-day option to the existing members of the policy. This means that they will cover the extended days of a trip (indefinitely) and would charge on a per-day basis. Its protection against viral diseases like Swine Flu and H1N1 influenza might prove to be extremely beneficial in case of sudden epidemics or pandemics during travel. It also covers the expenses of delays and cancellation of trips, which is a bonus of course.
- This overseas travel insurance plan provides cashless medical treatment in hospitals worldwide.
- Pre-existing medical conditions are protected against in case of life-risking emergencies.
- Existing policyholders can extend the duration of the plan based on a pay-per-day scheme.
- The policy doesn’t extend to some countries like China, which might be a drawback for businesspersons venturing out there.
- Sporting activities during travel are not insured.
An Insured Wrap-Up!
Well, now you know why travel insurance plans are important and we did mention the best of them to you for further assistance. Therefore, if you enrol on any of these do let us know in the comment section below. However, it is important to research the plans and policies before registering for them as all of them cover different kinds of expenses and losses. So, thorough research is necessary before choosing any one of them as a wrong plan would land you in trouble. And yes, ones looking for travel insurance for health should scrutinize the policies properly before signing up.