Traveling abroad without travel insurance cover? Stop! It can be an expensive affair

Traveling abroad, for most people, has always been an exciting and pleasing experience. But it’s also obvious that you may fall prey to any unprecedented incidence which can ruin your entire trip whether you are on a business trip, adventure, vacation or any other tour. And, medical costs incurred out of any emergencies when you’re on a foreign trip, is multiple-folds expensive than what incurred in your home country. Think! You are abroad with no family members, kin or friends near you, and meet any unfortunate incident. Who’ll look after you? How’ll you manage the unexpected contingencies? Questions are unlimited but answer is one. That’s a travel insurance policy.

Considering the facts, travel insurance policy is a must buy financial product for people flying abroad. Right?

How does a travel insurance policy protect you?

Remember! A health insurance policy bought in your home country doesn’t provide coverage while you’re traveling or staying overseas; it’s meant to cover your medical expenses incurred in your home country only. But, a travel insurance policy covers all your medical expenses incurred out of any medical emergency or accident while you’re abroad. Besides, it also covers non-medical contingencies such as-loss of passport, loss of checked-in baggage, trip delay, trip cancellation, emergency medical transportation, rental car damage etc.

There is also a student travel insurance policy especially designed to cater to the need of students staying abroad for long time in order to pursue studies.

So, it’s learnt that a travel insurance policy is an effective tool to ‘burry your travel worries’.

How to pick a good travel insurance policy?

Like other insurance products, you must check for the reputation/brand of the insurance company while buying a travel insurance policy. Besides, you should also check for the claim settlement ration, claim process and time taken to settle claim. Since, you’ll be staying abroad, it’s important to have company’s toll-free number to which you can call during an emergency.

Also, you should choose the policy that best suits your needs like individual, family floater if traveling with family, your travel zone -worldwide (including USA/Canada), worldwide (excluding USA/Canada), Asia or Africa. Zone specific buying can save you on premium.

How to purchase a travel insurance policy?

Purchasing a travel insurance policy is a hassle-free affair. Although for some countries, it’s mandatory to have a travel insurance policy, and is provided with the visa. But for other countries, you need to purchase separately which is as simple as buying any other products. Most ticketing websites/agents have their tied-ups with different insurers. You can buy the same while booking tickets.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

Leave a Reply

Your email address will not be published. Required fields are marked *