If you have plans of travelling abroad, the most prudent thing to do is to get yourself and your family covered by travel insurance. A comprehensive policy will cover all the financial and medical emergencies which may crop up when you are away from home. Make sure you buy a travel insurance even if the visa requirements don’t specify that. Most of the plans are available at wallet-friendly premiums which will not burn a hole in your pocket. All travel insurance products have a built-in medical cover for the duration of the trip.

The many benefits of travel insurance 

Travel insurance will also provide coverage to your family when you miss a flight due to a genuine reason. The insurance policy will cover your extended stay. In case you fall sick or meet with an accident, the insurer will take care of your expenses. These days, the airlines misplacing the baggage is not uncommon. In most cases, the insurer will provide coverage for the lost baggage. Once you are well-informed about travel insurance, the next question which arises is which travel insurance plan to choose. Similar to purchasing a health or life insurance, you can take the help of a free web aggregator which provides free quotes of the top insurance companies.

We have done a comparison with the help of policybazaar.com. We obtained quotes for travel insurance for a 30 year old’s trip to China for 10 days. According to the premiums, the travel insurance companies have been ranked in the following order:

Let’s take a look at the travel insurance companies in details:

Religare

The comprehensive travel insurance policy offered by Religare comes with unique features such as coverage for medical emergencies, no upper limit on age, attractive premium and automatic policy extension. The key features of the Religare travel insurance cover include;

• Cover for both in-patient and out-patient treatment when abroad
• Coverage for expenses related to loss of baggage
• Reimburses expenses for replacement of lost passport or getting a duplicate passport.
• Comes with personal accident cover
• Round the clock assistance and support
• Cover for treatment in home country
• Costs incurred for transportation of a policy holder to a medical facility

Reliance

The Reliance travel insurance policy is a comprehensive cover both for you and your family when you are on a globe trot. Combined with health insurance and a range of travel related covers it will ensure that your trip is stress-free. You can purchase the insurance plan online. Children placed anywhere in the world can purchase this insurance for their parents travelling from India. Take a look at the key features of this plan:

• No medical check-up is required till the age of 70.
• Tours for 180 days can be covered and can be extended to 365 days.
• You can extend the policy by filling a simple form.
• Hassle free and quick claim process
• Pays out expenses for emergency evacuation to India
• Expenses are borne if a trip is delayed for more than 12 hours or cancelled.
• Expenses are incurred for arranging a new passport
• Expenses are borne for loss of checked-in baggage
• Paperwork is not required for student travel insurance

HDFC Ergo

Two types of travel insurance plans are offered by HDFC Ergo; travel insurance and student Suraksha. As per the standard insurance policy you will be covered for unforeseen exigencies when you are out on a vacation. The overseas travel insurance will ensure that everything is in place when you are away from your home country. Let’s take a look at the basic features of the plan:

• You can buy the policy online.
• The company offers round the clock assistance to policy buyers.
• You will not have to undergo a health checkup prior to sanctioning of the plan.
• The travel insurance policy is available for all ages between 6 months to 70 years.
• Travel trips as short as 1 to 4 days can be insured
• The policy does not cover pre-existing diseases.
• Foreign nationals who work in India and draw salary in Rupees are eligible for the plan.

This sums up the top three travel insurance providers. Before you choose a plan make sure that you weigh the features and opt for one which suits your requirements.


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