How do you pick the right Travel Insurance Policy?

Whether it is the serene glacial lakes of Banff National Park in Canada or the vast snowcapped landscapes of Patagonia in Argentina, certain places in the world are on everyone’s bucket list. But as you prepare for your next trip, do not forget about a crucial tool to aid you on your journey: travel insurance.

Choosing the right insurance not only adds to a peaceful travel experience but also aids in planning your finances prudently. This article will explore some critical factors to assess when selecting a travel insurance policy.

What Is Travel Insurance?

Before choosing the right insurance policy, it may be essential to understand what travel insurance is in the first place. Travel insurance is a safety net offered by insurance providers to protect the traveller from various risks. Sometimes, the policy starts from the trip’s start (i.e., leaving the country/starting city). Still, depending on certain coverages like trip cancellation, they can also begin before leaving the country/starting city.

Let us explore some of the critical coverages one can expect when opting for an insurance policy:

• Loss of checked-in baggage
• Missing connecting flight
• Trip delay, interruption, or cancellation
• Personal accident
• Personal liability
• Medical emergencies

These are some risks a travel insurance policy often covers, offering financial protection and safeguarding your and your family’s well-being.

WHAT ARE SOME KEY FACTORS IN THE RIGHT TRAVEL INSURANCE POLICY?

1.    Coverages offered

Considering the various coverages offered in a particular insurance policy is essential. These are the specific scenarios that will be covered and for which compensation will be provided.

2.    Exclusions

The general and specific exclusions of a particular policy are certain scenarios the insurer does not cover. And any injury or loss incurred due to participating in them will not be offered a settlement.

3.    Sum insured

Depending on your travel destination, choosing an appropriate sum insured is essential. For example, the cost of treatment in the USA is very high, and having a higher sum insured which covers medical emergencies can reduce your liability to pay.

4.    Ease of claim

Checking the ease of requesting a claim is essential when choosing a particular insurance provider. A complicated claims process can lead to a negative experience when impacted by covered risks.

5.    Reliability of the insurer

The reliability of an insurer is an essential factor when choosing a particular provider, as an unreliable insurer can lead to more anxiety than the peace of mind an insurance promises.

HOW TO BUY THE BEST TRAVEL INSURANCE POLICY?

In 2024, buying travel insurance in India is very easy and convenient. However, due to the number of options and choices, it often becomes difficult to rely on the policy, and it always feels like we are missing out. Referring to the previous section, you can make an informed decision, choose the right insurance provider, and plan for your needs. Once you have identified the insurer, you can visit their website and purchase the travel insurance policy online.

Here are the steps to follow to purchase a policy from Niva Bupa, an insurance provider trusted to offer the best policy:

1. Visit the ‘Travel Insurance’ page on Niva Bupa.
2. Fill out the form requesting travel destination, duration, type of travel, and phone number.
3. After clicking “view plans”, input the traveller details and click next.
4. On this page, you can choose one of the three plans they offer for that particular trip, an option to change the sum insured, and a box to select any add-ons if applicable.
5. Once done, click ‘next’ to complete the medical declaration and other formalities to purchase the policy.
6. The policy will be shared on your email once you do.

Conclusion

Stepping into 2024, travellers today have more options for international travel insurance than ever before. This offers an incredible opportunity for travellers to explore the various possibilities and decide based on their specific needs, whether it is the cost of the policy, the sum insured, coverage for adventure sports, or the claim settlement ratio of an insurer.

By referring to the key factors stated above, you too can choose the right policy and travel the world with the confidence of travelling in your own country.

So start striking off your bucket list and explore all this beautiful planet has to offer!