How Travel Insurance can prove to be helpful for you in difficult times. How its premium is decided and what you should keep in mind while buying an insurance plan. Know everything here.
If you are fond of traveling or are associated with any profession in which you often need to travel, then you must know about travel insurance. Travel insurance covers various risks during your travels and works to make your journey safe.
There are many different types of travel insurance. The kind of plan you buy, you are given the same facilities. Know how travel insurance can prove to be helpful for you in difficult times. How its premium is decided and what you should keep in mind while buying an insurance plan.
These are the benefits of travel insurance
- If your health deteriorates during the journey, then your travel insurance policy will come in handy. In this, your hospital bills, ambulance fees etc. are covered.
- If your luggage is stolen during the journey, then its loss can also be compensated through travel insurance. Even if you lose your passport or any important document, you get help.
- One advantage of travel insurance is that if you miss your connecting flight due to an emergency and it costs you money, you can file a claim for it under travel insurance with coverage up to $2000.
- Travel insurance can come in handy even if you lose your credit or debit card in another country but you are still getting the transaction information. With its help, the money withdrawn up to 12 hours before the first report of the theft incident can be returned.
- If you have booked a flight but you are unable to travel due to some urgent reason, then with the help of travel insurance, you will be reimbursed the money spent on the ticket.
If you are a victim of any kind of accident during the journey, then you can get help through travel insurance. Accidental Death, Permanent Disability is also covered in this.
How is the premium decided?
The thing to note is that these facilities are decided according to your plan. How many days is your trip, single trip plan, multi trip plan, students plan or senior citizen plan, according to all these plans, their premium is decided and different facilities are available. If you want, you can add additional cover to the travel insurance plan. But the premium for additional covers will also be higher.
How to choose a policy
If you have made up your mind to buy a travel insurance plan, then choose the policy according to your need. Tell the insurance agent about the coverage you need according to your needs and ask them to show you the plan accordingly. For example- suppose you travel to both India and abroad, then your plan should have coverage for both domestic and foreign travel. If you travel only within the country, there is no plan to travel abroad at the moment, then choose the policy accordingly.
Apart from this, you must ask the insurance agent questions related to all the doubts and apprehensions arising in your mind. Understand the terms and conditions very well, so that there is no problem later. Before buying the policy, be sure to know whether your premium will be eligible for refund or not if there is any change in the journey. Keep in mind that travel insurance does not cover things like pre-existing illness, war risk, suicide or insanity and dangerous sports.
