A travel insurance may not be a good fit for everyone. You will have to look at the variants and choose the one that is right for you. The worst nightmare a traveller can have is cancelled flights, lost luggage, medical emergencies abroad, stolen passport, etc. If you have the right travel insurance plan, you will not have to worry too much.
Factors to look out for when choosing the right travel insurance plan
Following are the factors that you must consider while taking a travel insurance plan:
- Type of trip:
You can take a travel insurance for a single trip or for a multi trip. If you are choosing a single trip travel insurance plan, you can customise it based on the type of holiday you plan on taking and you can take on the cover that you require.
You can choose multi trip if you travel frequently. The multi trip travel insurance is purchased on an annual basis. The plan covers all the multiple trips that you take over the course of the year. If you are a frequent traveller, multi trip travel insurance is the best plan for you as you get a better value for money. It also eliminates the need for you to apply for a policy every time you travel. If you have decided to take a multi trip travel insurance plan, you must check the policy terms carefully and check for the limit on the number of days a single trip can take, check the geographic coverage, and the coverage for adventure sports.
- Who the plan is for?
The travel insurance can be for an individual and family. If you are going on holidays with your parents, spouse and children, then a family travel insurance plan will work out for you. It will also be cheaper than taking a separate individual plan for the family members who are travelling. There are many plans offered in the market that come at a nominal cost for children under the ages of 16. Some companies do not charge any extra for coverage for children below the ages of 16. You must compare the plans before you take one.
- Grades of travel insurance cover you need:
The travel insurance provider will offer different grades of travel insurance cover. They will offer basic plans as well as advanced plans. Advanced plans will have a higher coverage and you will also be in a position to choose from the add-ons. If you are adventurous and love participating in winter sports, water sports, etc. then you must consider opting for add-ons.
Additional Reading: 5 lesser known Travel Insurance covers
Some insurers will also provide add-ons for terrorism extension, worldwide coverage, golf cover, and more which are optional. You can choose the ones based on what you need. You must at all times compare the travel insurance plans and choose the one that best suits your needs. Before you start comparing the plans, you must make a note of the things you wish to get a cover for as well, this makes it easier for you to shortlist the travel insurance plans.