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Rediff.com  » Getahead » How to get the best deal on travel insurance

How to get the best deal on travel insurance

By Naval Goel
February 24, 2016 09:36 IST
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Keeping this in mind you can easily get the best travel insurance policy for yourself and your family. It is advisable to do some research before making any decision.

Usually travel insurance offers financial protection for your trips. It allows you to enjoy your trip without worrying about the several issues that can arise during the journey. A good, reliable travel insurance policy will make sure that you enjoy your holidays completely and can get the required financial assistance whenever you need it. But getting the best deal seems to be a daunting task.

To get the best deals on travel insurance, you should understand its concept, its pros and cons, and much more. Let us understand them all one by one.

What is covered in travel insurance?

  • Trip cancellation: It works majorly when you have bookings that are non-refundable
  • Trip interruption: This policy will compensate you for the costs incurred
  • Medical emergencies: This is one of the major benefits that a travel insurance policy offers. It assists you in dealing with the prohibitive cost of looking for healthcare in a foreign country or fly back home for the required treatment.
  • Loss of baggage: Under this you will get the required financial coverage in case of loss of baggage. It is really helpful when you are carrying valuables like electronics or jewellery.

What is not covered?

Many of the travel insurance policies will not offer coverage in a few cases such as:

  • Terrorism/political instability: If you are travelling to a volatile region, then your insurance policy will not provide the required coverage against trip cancellation, interruption because of political turmoil or terrorist activities.
  • Accidents while drinking: The insurance company will not provide coverage for medical expenses incurred though the person was under the influence of alcohol.
  • Pregnancy: A coverage under this category is available but only when the baby is born premature. Otherwise the insurer will not be liable to pay any compensation for the same.
  • Psychological sickness: A trip cancelled because of a nervous breakdown or injuries that are self-inflicted will not be liable for any coverage.

Additional coverage

There are few companies that offer additional coverage to their consumers.

  • Adventurous activities: Few adventurous activities such as trekking, scuba diving, etc. are not covered under standard plans. If you wish to perform such activities and want cover for the same, then you must check insurers that can provide the desired coverage. You can compare travel insurance online that will help you in getting the best travel insurance policy.
  • Extended trips: Standard multi-trip travel insurance policy may offer coverage for 30 and 60 days per trip. If you need a cover for a longer time period, then you will have to compare travel insurance for getting the best that offers the extended trip features.

Things to keep in mind while buying the best travel insurance plan:

  • It is necessary for you to always compare the benefits and disadvantages of the plan. Don't rely on the cost of the plan. Instead you should check features to get wider coverage for your trip.
  • Don't forget to check the exclusions and keep the same in mind while filing the claim as it can save you from any unwanted problem.
  • Understand the claim settlement process and remember the toll free helpline number which hopefully you would not need, but it is better to at least know the procedure.

By keeping the above mentioned points in mind you can easily get the best travel insurance policy for yourself and your family as well. It is advisable to do some research before making any decision. You can take help of an online insurance web aggregator that helps you to compare travel insurance and choose the best with the help of free quotes.

Photograph: chiaralily/Creative Commons

Naval Goel is CEO and Founder, PolicyX.com

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Naval Goel