Blog

Safeguard Your next Trip with the 5 Best Travel Insurance Plans for 2017

Well said- traveling will leave you speechless and then, turn you into a storyteller.

Who doesn’t like to travel? Give yourself a break from the daily hustle- Excel files, emails, con calls, commute, etc. and fasten your seatbelt, pack your bags and head for a trip to a new place of your choice, to a place that nobody has ever been to. A memorable trip can make a world of difference to your life by giving you a perspective. Traveling lets you discover yourself- the inner you. It creates experiences and memories from the adventures and events which are remembered for the lifetime.

Although, with all the fun, excitement, and exploring it has to be assured that you are physically well protected. No matter what- your physical well-being comes before anything. We want your trip to be risk-free and as much fun as you have been anticipating.

However, of all the possibilities, there may be one wherein a misadventure may occur leading to a mishap. It could be anything- an accident or falling sick due to foreign climatic conditions, or you might as well lose your luggage. Possibilities are endless.

It well could be a trip of your life. Therefore, we have to ensure that it is hassle free and you return safely and happily. Travel insurance plan is quite handy during such circumstances which will cover you during the trip. Let’s deep dive!

A travel insurance- what precisely is it?

Travel insurance is an insurance plan that is proposed to vouch for various expenses incurred during a trip. The set includes trip cancellation costs, medical coverage, flight accident (God forbid), lost luggage, and many further losses acquired while traveling.

A majority of potential financial losses are insured by the insurer which is predefined by the company. While they charge a little, the benefits are comparatively greater.

Travel insurance can be made at the time of the booking of a trip to cover exactly the duration of that trip. Travel insurances plan this day not only cover the trip within one’s country but also internationally.

There are different types of policies offering varying degrees of expenses. Few policies offer higher and lower medical expenditure options. The quotes are merely based on the destination of the trip.

Travel insurance plans are not mandatory in India. However, for international trips many countries require such plans by approved companies. Best international travel insurance is offered by various companies.

Why a travel insurance plan is necessary!

If you have prepared for an adventurous trip, it is needless to say the importance of a trip insurance plan. Otherwise, too, it is important as it covers a plethora of expenses, just in case, incurred during the trip.

A minor mishap in the foreign country might hit your years of savings for a trip big time. You would not want to go through that, right? Having a legit travel insurance plan ensures the coverage of a set of expenses which otherwise, might burn a hole in your pocket.

Following is the list of the most common risks that are usually but not necessarily covered by travel insurance companies.

  1. Medical emergency
  2. Curtailment, cancellation, and interruption of the trip
  3. Repatriation of remains
  4. Return of a minor
  5. Trip cancellation
  6. Trip interruption
  7. Accidental injury, death, or benefit of disablement
  8. Funeral expenses overseas
  9. Stolen or lost baggage, travel documents or personal effects
  10. Baggage Delayed
  11. Flight connection missed because of airline schedule
  12. Travel delays caused by weather conditions
  13. Hijacking

With the raging disposable income, people are more open to spending. The frequency of the trips will increase in a given period. Correspondingly, the travel insurance companies too are going to rake in money. Also, with the increase in the internet penetration inside the country, people are getting aware of such services. That too contributes to the industry, big time.

So, looking at the benefits, you have decided to opt for a travel insurance plan. Admittedly, you have taken a wise decision.

What follows next is the million dollar question- How to choose the best travel insurance plan?

Quite obvious is the question being a layman. Save yourself some trouble and the dilemma of choosing the best travel insurance policy, as we get you the best of the lot of 2017.

Choosing the best policy

Just like the majority of Indian sectors where there is stiff competition, the insurance industry is no exception to it. Almost all the companies offer their service at a cut-throat price, creating a dilemma among consumers.

Following is the list of top 5 travel insurance companies offering their best plans in 2017.

  1. Apollo Munich
  2. Tata AIG
  3. Bajaj Allianz
  4. ICICI Lombard
  5. HDFC ERGO

Undoubtedly, there has been a fierce competition among these companies over the years. The top spot has changed each year based on the package and the coverage insured.

So, let’s have a closer look at all of these and their policies to evaluate the best buy.

  1. Travel insurance Apollo Munich

Apollo Munich has been successful in carving out a niche in travel by providing some exclusive deals in the industry. It follows the tagline “Let’s Uncomplicate,” and indeed it does by offering simple and easy travel plans. It covers comprehensively by providing five types of travel policies, each having a set of benefits.

  1. Easy Travel – Individual

Quite simple and easy to understand is the individual plan. Have a solo trip in find? You do, don’t miss out on us.

Coverage

Medical coverage, dental care, trip cancellation and curtailment refunds, lost connection, hijack allowance, accident, repatriation of mortal remains, loss of passport, baggage loss, trip delay, and personal liability.

  1. Easy Travel – Family

Family outings are the best outings and the moments captured for a lifetime. Here is a snapshot of coverage for your family

Coverage- The policy covers all the expenses mentioned above except trip cancellation and missed a connection.

  1. Easy Travel – Senior Citizen

Age doesn’t matter when it comes to traveling. So, let the inner you come out of the closet and do some funky dance.

Coverage

The policy covers more or less the expenses as that of Individual travel

  1. Easy Travel – Annual Multi-Trip Plan

A quarterly trip sounds cool. That way, annually you will have more trips and more number of moments and stories to portray.

Coverage

The policy covers precisely the same expenses as of individual travel plan.

  1. Educare- Students travel insurance plan

For parents- it is a must need plan. Let your children be fully insured while traveling and studying globally.

Coverage

In addition to the individual travel plan, the policy covers few expenses more.

Medical coverage for trips back in India, felonious assault, study interruption protection, maternity benefit, childcare benefit, treatment of the mental and nervous disorder, Examination emergencies, HIV and cancer cover, and drug dependency.

  1. Travel insurance TATA AIG

Tata AIG is another leading travel insurance plan provider in the industry providing four different types of policies.

  1. Travel Guard
  2. Student Guard- Overseas Health Insurance Plan
  3. Asia Travel Guard Policy
  4. Domestic Travel Guard Policy

Let’s explore each plan.

  1. Travel Guard

Coverage- Accident and sickness, baggage loss, loss of passport, hijacking, flight delay, death, dental expense, legal assistance, emergency travel, and, repatriation.

  1. Student Guard- Overseas Health Insurance Plan

Covers all the above benefits, and also it includes assault, special extensions, maternity benefits, child care, treatment for mental and nervous disorders, physiotherapy, cancer screening, study interruption, sponsor programs, fraudulent charges, trip delay, and bail bond.

  1. Asia Travel Guard Policy

Coverage- Accident, medical emergency, baggage loss, loss of passport, and personal liability.

  1. Domestic Travel Guard Policy

Coverage-

Accident, medical reimbursement, missed departure, loss of tickets, personal, and responsibility.

  1. Travel insurance Bajaj Allianz

The company has customized travel plans travel cover called Travel Asia. It includes in the following situation:

  1. Medical Expenses, Evacuation
  2. Repatriation
  3. Emergency dental pain relief
  4. Loss of Checked Baggage
  5. AD & D Common Carrier
  6. Delay of Baggage
  7. Personal Accident
  8. Loss of passport
  9. Personal Liability
  10. Hijack
  11. Emergency Cash Advance

Apart from this, the company offers a host of travel policies

  1. Individual Travel Insurance Plan

Medical Expenses, dental pain relief, Loss of Baggage, Accident, Loss of passport, Hijack, Personal Liability, Trip Delay

  1. Family Travel Insurance Plan

Costs of hospitalization, loss of baggage, disbursement of claims, trip cancellation, trip curtailment and, burglary of your home

  1. Senior Citizen Travel Insurance Plan

Costs of hospitalization, loss of baggage, trip cancellation, and trip curtailment

  1. Student Travel Insurance

Expenses of accident, hospitalization, loss of baggage, family visit and other incidental expenses, tuition fee and bail bonds, loss of passport, emergency dental pain relief

  1. Corporate Travel Insurance

Medical Expenses, dental pain relief, accident, loss of Checked Baggage, Loss of Passport, Hijack, Trip Delay, and Personal Liability

 4.Travel insurance ICICI Lombard

Bagging the best travel insurance company in 2015, ICICI Lombard has been successful primarily for two reasons: coverage for people up to the age of 85 and cashless facility.

It offers three types of plans

  1. Single Round Trip
  2. Senior Citizen
  3. Gold Multi-trip
  4. Single Round Trip

No medical test required till the age of 85 years, cashless hospitalization, coverage for baggage loss, Medical expenses coverage, Automotive Assistance, Emergency Hotel Extensions, Trip Cancellation and Interruption reimbursement, Compassionate Visit, Political Risk, Coverage for Swine Flu, H1N1 influenza

  1. Senior Citizen

No medical test till 85 years of age, cashless hospitalization facility, quality healthcare, baggage loss, Medical Concierge, Lifetime services for dependents back home, Automotive Assistance, Political Risk, Trip Cancellation and Interruption, Compassionate Visit, and Emergency Hotel Extensions

  1. Gold Multi-trip

Plan available till 70 years of age, Cashless hospitalization facility, Quality health care guaranteed, Medical Concierge, Automotive Assistance, Emergency Hotel Extension, Trip Cancellation, Compassionate Visit, Political Risk, and Coverage for Swine Flu, H1N1 influenza

  1. Travel insurance HDFC ERGO

HDFC offers a set of plans which are quite flexible for the consumers

  1. Single Trip
  2. Multi-trip
  3. Asia plan
  4. Family Floater plan
  5. Student Suraksha
  6. Single Trip

Medical Expenses and Evacuation, Hospital Cash, Accidental, Personal accident, Flight Delay, Loss and Delay, Loss of Baggage and Personal Documents, Emergency Dental Expenses

  1. Multi-trip

Emergency Medical Expenses, Medical Evacuation, Accidental, Hospital Cash, Repatriation of remains, Flight delay, Personal Accident, Loss and delay of Checked Baggage, Personal Liability, Hijack Distress Allowance, Financial Emergency, Assistance, Loss of Baggage and Personal Documents, Contingency Travel Benefits, and Emergency Dental Expenses

  1. Asia plan

Emergency Medical Expenses, Medical Evacuation, Loss and delay of Checked Baggage, Flight delay, Hijack Distress Allowance, Assistance, Accidental, Hospital Cash, Personal Accident, Personal Liability, Loss of Baggage and Personal Documents, Financial Emergency, Contingency Travel Benefits, Emergency Dental Expenses, and Repatriation of Remains

  1. Family Floater plan

Emergency Medical Expenses, Medical Evacuation, Accidental, Personal Liability, Personal Accident, Flight delay, Hospital Cash, Loss of Baggage and Personal Documents, Emergency Dental Expenses, Total Disability Common Carrier, Repatriation of remains, Hijack Distress Allowance, Contingency Travel Benefits, Financial Emergency, and Loss and delay of Checked Baggage

  1. Student Suraksha

Childcare Benefits, Accidental Death, Loss of Passport, Bail Bond, Personal Liability, Emergency Dental Treatment, Emergency Medical Expenses, Permanent Disablement, Treatment for Expectant, Psychological Coverage, Compassionate Visit, Loss and delay of checked baggage, Sponsor Protection, Mothers, and Screening and Examination

Well, that would have been quite a lot for you. Each company gives the different package of coverage.

So, now you have plenty of info to contemplate on and make a choice. You can compare online travel insurance quotes as well.

Hope you have a great and safe journey. Happy traveling.

38,487 total views, 1 views today

You May Also Like