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5 simple tips to find the right low cost travel insurance plan

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Published on February 22, 2010 | Est Read Time: 3 min

The excitement of the upcoming vacation should not derail you from taking the necessary precautions before venturing out. This includes safeguarding yourself and your belongings from any unwanted circumstances by opting for travel insurance.  A comprehensive travel insurance plan is an important travel companion that offers financial protection to the policyholders in case of medical, baggage or journey-related emergencies.
However, most of us shy away from taking travel insurance. Why? Two reasons – ignorance and extra cost. In this article, we share ways to overcome the high costs associated with travel insurance.  Whether you are getting travel insurance online or through an agent, these handy tips will guide you in selecting the right, low cost plan best suited for your vacation.

Tips to find a low cost yet appropriate travel insurance plan

1. Look for the right coverage:

Is your visit planned for a destination that is very costly? Or are you visiting family abroad? In the first case, it would be wise to take a travel insurance plan that covers medical emergencies if you do not want your savings to dry up. However, in case of the latter, you can avail of a travel protection plan instead as you already have a support system in the place of visit. So the cost of travel insurance can be brought down if you opt for the appropriate cover that will be suitable for your trip.

2. Compare different insurance plans:

Suppose you are booking a holiday package from a travel company, they are likely to offer their own travel insurance plans. Do not opt for these blindly! There are chances that you can avail of cheaper or much more comprehensive plans at the same price from other insurance providers. Instead, shortlist a few and compare their costs and benefits. Also, read the fine print of different policies carefully and choose one that best matches your requirements and pocket.

3. Calculate the level of cover you require:

This point is connected to the first one. Selection of the optimal insurance plan requires you to understand and calculate the exact amount of coverage you require. This depends on the type of trip you are going for, the age of the travellers, and the activities you plan to do there.

For instance, if you are a senior citizen, it is advisable that you choose a plan that will cover the associated risks. On the other hand, if you are heading for a honeymoon, you can take a simple plan that covers basic risks instead of paying extra for the services you may not have to avail.

4. Take multi-trip policy:

If you travel abroad often for work or leisure, taking a multi-trip travel insurance policy will prove to be an economical option. You can take an annual multi-trip policy and save money. This plan covers multiple trips abroad and each can be for a maximum duration of 30-45 days.

Also, if you are planning a trip with your partner or family, go for a bundled travel insurance policy and save more. This will also save you from the hassles of taking separate travel insurance for everyone.

5. Check for security against airline or travel agent failure:

This is important for your peace of mind during work and leisure trips. When taking travel insurance, make sure you read the policy fine print carefully to ensure your journey and holiday is covered. In case your flight gets cancelled or your travel agent ceases to trade suddenly, your insurer should provide the necessary assistance. Hence, keep these scenarios in mind and choose an insurance plan according.

Conclusion:

Taking suitable travel insurance is a crucial part of planning a trip. A policy that covers flight delays and cancellations, medical expenses, and baggage loss can save you from a lot of mental as well as financial stress. If you are going on a vacation any time soon, take travel insurance online and stay covered. We offer different plans for individuals, families as well as frequent flyers with extensive coverage. You can quickly check and compare different plans online and apply for a suitable one with minimum documentation.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.