Travel Insurance Premium Calculator

What is Travel Insurance Premium Calculator?

A travel insurance premium calculator helps you to figure out how much money (premium) you need to pay for your travel insurance plan. Since there are a variety of policies and additional features available, there can’t be a flat price for those products. Your needs and budget also play an important role, which can be confusing for many.

By using a travel insurance calculator, you will have a cost estimate of your desired plan. This particular plan will include all the benefits you want, allowing you to select those options that will be ideal for you and your co-travelers. You can calculate the premium in just a couple of minutes thanks to this calculator. This calculator can be accessed any time from wherever you are.

Benefits of Travel Insurance Premium Calculator

Travel Insurance Premium Calculator helps you find accurate information within a few minutes, letting you make an informed decision. With the help of a travel insurance calculator, you can compare various travel insurance quotes and zero down the right travel insurance policy that suits your budget and other requirements.

While planning any trip a travel checklist is important, right from packing all the essentials to having a travel itinerary you plan for every possible aspect so that you have a memorable trip. However, uncertainties do not come knocking. Here are some advantages of a travel insurance premium calculator:

• Hassle-free: With the help of the calculator, you can plan ahead and buy the policy you want instead of settling for anything else without any worrying.
• Pick the Right Policy Available: You can easily compare different plans thanks to the travel insurance premium calculator and know which one offers you the most at the same price.
• Plan Expenses Effectively: Once you're sure about the expenses due to your insurance, you can plan all other expenses like hotel bookings, travel tickets, etc., according to your budget.
• No need for the Middleman: So many people can't find enough time to meet insurance agents. Thanks to the calculator, you can not only compare plans but also learn about any additional charges like hidden fees, add-on charges, etc. All this can be done in a few minutes without anyone's assistance!

Therefore, secure your trip with a travel insurance policy. A travel insurance premium calculator takes into consideration all the subtleties related to the policyholder’s trip to work out the premium of the selected travel insurance policy.

What Does Travel Insurance Premium Mean?

While buying any travel insurance policy the price or fees that you end up paying is referred to as a travel insurance premium.

It is wisely said that if you cannot afford to buy a travel insurance policy then you cannot afford travelling. Travel insurance policy is prudent as it protects you from any unwanted financial expense that, may incur due to any unforeseen event while you are travelling. Any medical or travel-related peril can easily ruin your trip. Therefore, regardless of whether you are travelling for a short period or a longer period, do not take off without a comprehensive travel insurance policy.

While buying travel insurance policy choose different coverages, which is important such as loss of passport, loss of checked-in baggage, medical expenses, trip curtailment/ cancellation, personal liability and much more.

In simple words, the cost you pay to the travel insurance provider while buying a travel insurance policy is known as travel insurance premium. The travel insurance premium needs to be paid once a year. Once the payment towards travel insurance premium is made, in case of any adversities you can benefit from the coverage opted for under the bought travel insurance policy.

How is Travel Insurance Premium Calculator Useful?

Whether you travel domestically or internationally, buying travel insurance policy should not be overlooked or missed. When buying a travel insurance policy, travel insurance premium does play an integral role.

The thought is to avail the maximum coverage as per the requirement at the minimal cost possible. However, that does not imply that you should select a travel insurance policy offering a minimal travel insurance premium.

It is better to buy travel insurance online and use a travel insurance premium calculator, that will help you to be aware and know in advance of the travel insurance premium cost that you will have to bear when buying the plan. Listed below are some key benefits of using travel insurance premium calculator online.

• Get to know the estimated amount of travel insurance premium that you will have to bear before the purchase of travel insurance policy
• Get to compare travel insurance coverage and premium cost provided by various travel insurance providers at one place
• The travel insurance premium calculator is an online tool so you do not need to visit the branch or the insurance agents/ broker
• Ease of accessing any information related to the travel insurance coverage and premium rate at any point of time from anywhere
• In case you wish to remove or add any cover you can do so and witness the change in the premium
• Last and not least, helps you to choose the right travel insurance policy

Which are the Factors That Affect Travel Insurance Premium?

Now, let us have a quick understanding of the factors, which affect the travel insurance premium listed below:

• Age of the Traveller: In case you are unaware of the fact that the age of the traveller does play an important role to determine the travel insurance premium. The travel insurance premium for a senior citizen would be higher compared to a college-going individual.
• Travel Destination: The travel insurance premium also differs from one destination to the other. For instance, the travel insurance premium for the USA will be different from that of Malaysia and so on.
• Trip Duration: The duration of your trip also affects the premium of your travel insurance policy. Various travel insurance plans are offered depending upon the duration of the trip based on, which the travel insurance premium also varies.
• Trip Frequency: Travel insurance premium is also influenced by the frequency of your travel. Besides, if you are travelling to a destination frequently you can avail multi-trip travel insurance policy or if you are travelling to the destination for once you can opt for a single-trip travel insurance policy.
• Coverage Opted: Travel insurance coverage is the most important aspect of your travel insurance policy. The cover you opt for will provide you with security for the same during your trip. Remember, the greater the coverage the higher will be the premium of your travel insurance.
• Add-on Covers: An add-on cover essentially enhances your travel insurance policy as it provides an extra layer of protection. Add-on covers come with an additional price, which increases your travel insurance premium.
• Sum Insured: In case you do not know, the sum insured amount you opt for has a direct impact upon the travel insurance premium. Clearly, the higher the sum insured the more you will have to pay for the travel insurance premium.

How to Use the Travel Insurance Premium Calculator by Policybazaar?

Policybazaar is an online insurance aggregator, which provides a travel insurance premium calculator and helps you in buying travel insurance policy in India.

Sitting at the comfort of your home or from your office, you can easily compare travel insurance premiums on Policybazaar.com

How to Use the Travel Insurance Calculator?

Following are the steps to use Policybazaar’s travel insurance premium calculator, which is easy and customer-friendly:

• Browse the website of Policybazaar
• Next, select travel insurance
• Complete the required information asked in the travel insurance calculator such as the age of the traveller, destination travelling and date of travel
• Choose if you will be travelling for a single or multi-trips
• Mention about your medical condition (if any)
• Click on the ‘proceed’ tab
• Submit your personal details- Name, Mobile Number & Email
• Click on the ‘Get Free Quotes” tab
• You will get travel insurance premium rate from different travel insurance providers

You can easily collate the premium charged by the different travel insurance policy calculated by the travel insurance premium calculator.