Comparison of various travel insurance option available in India

Travel insurance is a very important aspect that must not be sidelined during overseas trip for business, vacation or higher studies. But to choose the right travel insurance policy from the various options available in the market is a difficult task. Here we try to decipher the maze for you. Basically there are three types of travel insurance available in India namely, single trip, multi-trip and family travel insurance.

Single trip Travel Insurance

This is typically suited for an occasional traveller, as the name suggests. The maximum coverage provided under this type of travel insurance policy do not exceed more than six month.(limit may change company to company) These types of plans are tailor made for businessman, individuals and families who want to travel overseas on special occasions. Most commonn covers offered under Single trip travel insurance plans are accidental death, emergency evacuation, medical expenses, disablement benefit, and delayed departure & baggage.

Multi trip Travel Insurance

Especially made for people who frequently travel overseas. Typical multi-trip travel insurance is valid for one year and the customer gets to choose from 30, 45, 60 and 90 days as the duration of their trip. This type of travel insurance policy helps the flier to save considerable money and time. As the flier has to pay the premium once and be covered for the entire trip irrespective of the number of trip he/she undertakes during the entire year when the policy is valid. Flier has to pay the premium once for the entire year, irrespective of no. of trips he/she undertakes during policy period.

Family Travel Insurance

Family Travel Insurance, also known as family floater plan provides comprehensive financial coverage to the entire family who wishes to travel overseas for a single trip. All family members are covered under a single policy with single premium. Here, the sum insured is shared among family members.

Additionally, a few international travel insurance policy also cover robbery and burglary for the flier’s home in India during their trip abroad.

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