While you may love travelling within your state or outside the country, you can never underrate the value of travel insurance. When you are at home, you are covered by your medical or life insurance against a number of risks and perils. However, only a few insurance policies cover their clients for international travelling. Therefore, it is important to include travel insurance in your budget when you plan to go overseas.
How to choose travel insurance: Tips
You can consider the following tips while choosing your travel insurance:
- Multi- trip
The multi- trip insurance policies cover the entire trips you make in one calendar year, but there are restrictions on the duration of each tour. If you travel frequently around the world, you can choose this kind of policy to save money and unnecessary hassle. You can take the insurance policy for worldwide trips or particularly for some of the countries or continents as you find suitable.
- Multiple cover
You can buy a single insurance policy to cover each member of your family to save money. Such policies are usually harder to look for, but you can make some effort to find one. Do not forget to read the fine print.
- Destination cover
You must check your insurance policy for the destination it covers. While you may think that taking a travel insurance policy is enough, but many people forget to ask about the destinations covered under the policy. You should also check the sub- limits and other details of the policy. You may have to pay higher premiums if you plan to travel to a high risk nation along with stern restrictions.
- Medical Cover
Read the clauses of your travel insurance policy for the coverage of medical insurance. In addition, you must declare your pre-existing health conditions and check whether they are covered under your medical cover. In case you fall severely ill during your journey because of pre- existing health conditions, the insurance company will not reimburse for it if you have not made any declaration beforehand.
- Personal belonging/ luggage cover
Your luggage may be lost in transit or be stolen at your travel destination. This is a common situation with thousands of people all around the world. That is why; it is important to check that your insurance policy covers all your needs for loss or theft of luggage. In addition, you must check the kind of luggage covered under the policy. Many insurers do not count hand luggage under the insurance coverage.
- Coverage for valuables
It is common for travelers to lose their valuables while they are traveling abroad or within the country. You must make sure that your valuables such as jewelry, wallet, passport, etc. are covered under your policy. Your travel insurance policy must provide you financial assistance or arrange a new passport for you in case of an emergency. If you lose your wallet, your travel insurance must arrange cash for you. In case you lose your jewelry, your policy must reimburse your for it.
- Coverage for Electronics
The travel insurance policies usually do not provide insurance coverage for electronics such as cameras, mobile phones, and laptops. You can check your policy for such clauses and ask your insurer about the same.
- Curtailment or cancellation
You may have to curtail or cancel your trip because of several financial or personal reasons. Usually, the insurance policies cover the curtailment or cancellation of trip up to a certain limit in case you or your closed one falls severely ill. However, you may not be reimbursed if your friend falls ill.