Increasing number of travelersabroadfor leisure & business has increased awareness & importance of travel insurance policy for protection against unforeseen emergency situations. But with the presence of several travel insurance plans in the market, it is important that the customers make the right choice. While selecting a travel insurance policy, it is important to judge the travel insurance company on below mentioned aspects:
Coverage offered by the policy –
When on a trip overseas, there are several risks you could run into. Hence, you need to ensure that the travel insurance policy you choose offers sufficient coverage for you &your family. Most of the travel insurance policies offer 3 tiered coverage plans which let a traveler choose an optimal cover. Following are few essential components which must form a part of overall cover–
Medical emergency support – It can be difficult to handle a medical emergency in a foreign land, so you need to make sure if the policy offers assistance in such a situation. Policies not only cover cost for the medication but also help in the various formalities you need to complete. Check if the travel insurance company offers advanced medical help like an arrangement for medical evacuation in case condition worsens, cashless facility,financial aid in case of accidental death or dismemberment of organs etc.
Trip delays coverage – Factors like inclement weather or any other disturbances may cause flight delays or cancellations. A travel plan should cover you for such a situation so that you are not left stranded at the airport.
Cover for loss/ delay of luggage and travel documents – The travel policy should cover for any loss or delay of checked in baggage and loss of travel documents. Providers generally offer compensation for lost baggage, reimbursement for a change of clothes and toiletries in case of baggage delay, cover for re-issue of travel documents and other required support.
Distress allowance – Threats like terrorism may pose a major challenge for travelers. This is why insurers today provide cover for the distress caused due to hijacking of the common carrier in which the insured had travelled. Make sure your travel insurance policy offers you this benefit.
Claim settlement process –
The moment of truth for every insurance policy holder arises when it’s time to settle claim. This is one process which if handled well, can make a policy holder loyal to the insurance company. So, before opting for a travel insurance policy, make sure that the company has a well laid out claims mechanism &holds a good claim settlement record. Go through the FAQ section and try to search unbiased reviews on various websites to get a firsthand feedback. It may also be helpful to call up the customer service to check if the company is fully prepared to handle claims.
Online Process –
As time poses as a major constraint for us especially when preparing for a trip, online process of buying a travel insurance policy helps immensely. So you need to check if the company you wish to avail a travel plan from offers you the facility online or not. Now-a-days most of the travel insurance companies offer clients with the facility to complete the required formalities online and buy the policy they want in a matter of minutes. This is a hassle-free and time saving process.
Also, make sure you go through the list of exclusions mentioned in the policy. Some common aspects thatare not covered by travel policies are –
• No medical cover in case of pre-existing diseases, pregnancy related treatment, mental disorder treatment, travelling against doctor’s advice, if treatment was the sole purpose of travel etc.
• Personal liability cover ceases if the insured commits an unlawful act, consumes drugs etc.
• The policy does not cover situations like loss of a baggage with perishable items, confiscation of travel documents by Custom Officials or Public Authorities etc.
The above mentioned exclusions are a few situations that are not covered by a travel insurance policy. However, every company has its own list of exclusions.
Need to check while selecting a travel insurance company