Does It Really Matter What Travel Insurance I Get?

What is the Most Important Part of Travel Insurance?

While any travel insurance plan is made of different components, undoubtedly, medical coverage is the most important part of any travel insurance. This is because there is hardly any emergency more painful and expensive than falling sick abroad.

Especially for countries with sky-high healthcare costs, medical expenses are one of the biggest expenses. Wealthy nations in Europe, the US, Canada, Australia and several other countries charge you 3 to 5 times more than what you’re used to paying in India.

Many countries have made it mandatory for foreign visitors to have travel health insurance policy before they visit. While some countries only need a simple travel medical insurance policy, countries like Germany, Qatar, Thailand etc. need you to meet specific coverage. These range from the minimum sum insured, medical evacuation & repatriation, coverage for COVID-19, and other more.

Still, you should try to buy a travel insurance plan that not only provides you medical benefits but also other journey and flight-related benefits.

How do I Choose a Travel Insurance Policy?

If you’re buying insurance for your trip for the first time, getting confused because of the options is normal. Travel insurance companies in India offer various plans to meet your requirements, so buying just any plan won’t be good enough. While picking the travel insurance plan ideal for you, keep in mind the following:

Purpose of Travel

The first thing anyone should notice, simply eliminate all other plans based on your purpose of travel.

Are you going for a multi-country tour across the world? Then a simple Schengen plan won’t work in non-Schengen regions. Here, multi-trip insurance will be better without any pause in your coverage.

Similarly, if you’re going to work abroad, then you will need to buy a travel insurance plan for employment abroad. You may also be covered by a group travel insurance provided by your employer.

Trip Duration

When you buy travel insurance online, most sellers first require some info from you. This usually includes your age, dates of travel and location you’re travelling to. The trip duration is a very important factor which can increase or decrease the cost of your premium.

The longer your trip, the higher will be your insurance premium. This is to provide continued protection to you throughout your journey. For trips less than 180 days, a single trip insurance policy is common. However, if you’re a student going abroad to study, then you will need to buy a student travel insurance policy which provides coverage for a year or more.

Traveller’s Age

If you’re over 65-70 years and want to meet your kids in the US, then senior citizen travel insurance for the US will be right for you.

We are susceptible to illness and injuries as we age, so it is only obvious that your trip insurance will get expensive as you age. Insurers are taking on a risk by insuring a middle-aged person or senior citizen as they may already have pre-existing diseases or be prone to accidents or falling sick.

To meet these risks, your travel insurance premium will cost more. Generally, people can buy travel insurance for people aged between 3 months and 60 years.

Additional Requirements

Suppose you have hypertension but you need to travel abroad. Your doctor has approved your journey but your insurer has listed your condition among pre-existing conditions. In this case, you will either need to buy an optional for your pre-existing condition or look for a plan that offers coverage for it.

If you buy a trip insurance policy without considering these, then your claim can be rejected and there will be no point in buying insurance.

Location

Most travel insurance companies in India offer different plans for different countries. For example, if you’re going to Switzerland then you will probably end up buying a Schengen travel insurance policy.

If you’re going to Japan, then you will need to buy travel medical insurance. Similarly, many countries across the world have made it mandatory to have travel health insurance before they will approve your visa. Thus, you will need to buy a suitable trip insurance plan that meets all the requirements set by that country.

Wrapping It Up

Hit by the pandemic, many people turned to the insurance sector for some relief. While any kind of travel insurance is better than no insurance, you should take your time while buying one. Many people blindly opt for the cheapest plan, but in reality, each plan has varying benefits and can affect your entire trip during a crisis.