Visiting new places is always an exhilarating experience, especially if you love learning about different cultures, trying different cuisines, and most importantly, pushing limits by participating in various adventurous activities. But do you know amid all these adrenaline-rushing exploration trips lay many threats? Have you ever wondered what will happen if you lose your passport or luggage on a trip? Or if you fall sick and need hospital admission while on a trip? Well, you can end up in a serious financial mess.
But before you start worrying, know travel insurance is here for your rescue. Today, we will go through the reasons why and when you should obtain your travel insurance policy.
Why should you purchase travel insurance?
- Personal accident
Going on a trip does not just mean exploring new places; it is much more than that. It also means exposing yourself to local conditions where the chances of being injured in an accident are high. In an emergency, travel insurance will reimburse you for the costs incurred.
- Passport loss
One of the worst things that can happen to you on a trip is the loss of your passport. It is a crucial document, and losing it will result in legal complications. In this case, travel insurance will assist you in obtaining your passport and covering the costs associated with it.
- Health cover
You are mistaken if you believe that your existing medical coverage will cover you if you become unwell while travelling abroad. Health insurance is only valid if you are receiving treatment within the geographical boundaries of India. Travel insurance can help in this situation. It will cover your medical expenses if you become unwell while on vacation.
- Dental procedure
Your travel insurance may cover things that your health insurance won’t. It will pay for your dental treatment if you face any tooth problems while on vacation due to whatever reason, making it another strong point to get a robust travel insurance plan in good time.
- Trip cancellation
One of the most common problems that travellers face is trip cancellation. There is always the risk that you will have to cancel or postpone your vacation due to a medical emergency or other unforeseen circumstances. In this case, the travel insurance will cover the financial loss incurred due to the cancellation.
How to buy a travel insurance policy?
Due to the multiple alternatives provided by travel insurers, purchasing a travel insurance policy is one of the simplest tasks. You can buy travel insurance in any of the three ways mentioned below:
- Online method: The insurer allows you to buy your policy at the click of a finger. All you have to do is go to your travel insurer’s website, enter your policy details and registered contact information, and pay the insurance premium. Your journey will be secured in minutes after you complete all of the requirements.
- Offline method: You can also buy your travel insurance policy by going to the insurer’s branch. There, experts will assist you with every step of the travel insurance buying process.
- Insurance agent: You can also buy your coverage through the registered agent of the insurer. Similar to the branch officials, they will assist you with the entire buying procedure.
Things to keep in mind when purchasing your travel insurance
- If you travel regularly, you might consider choosing multi-trip travel insurance. It will be less expensive, and you will no longer be bound by purchase policies every time you arrange a trip. However, if you only travel once or twice a year, purchasing single trip travel insurance is a wise decision.
- Do consider your destination when purchasing travel insurance. If you are travelling to an international location, more comprehensive planning is required. You will need to evaluate your sum insured as your existing medical policy won’t help you on foreign soil.
- When buying your policy, you must go through your insurer’s website to check the medical conditions they do not cover.
- You should also compare the policy’s coverage and exclusions with those of other insurers. In addition, the claim settlement ratio must be compared.
To sum it up
Travel insurance should be the first thing on your checklist if you are planning a trip. However, you must assess your requirements and compare various insurers before renewing or purchasing a travel policy.