10 Questions to Ask Before Buying Travel Insurance

Mani Karthik

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In my pursuit of getting better & smarter in life,
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Are you planning an international trip? When travelling to a foreign land, miles away from home, arming yourself with a good international travel insurance plan is a must. However, you need to ask yourself these 10 important questions before buying travel insurance.

When considering whether or not to purchase travel insurance, there are a few key questions you should ask yourself before making a decision.

What type of coverage do I need?

There are many different types of travel insurance policies available, so it’s important to figure out which one is right for you and your trip. Do you need medical coverage? What about trip cancellation or interruption insurance?

How much coverage do I need?

Again, this will depend on the type of policy you choose. Medical coverage policies will typically have different limits for different types of care, so be sure to read the fine print and understand what’s covered. Trip cancellation and interruption policies usually have a maximum benefit amount, so you’ll want to make sure that the policy you choose will cover the cost of your trip in the event that you have to cancel or interrupt it.

What is the deductible?

This is the amount of money you’ll have to pay out-of-pocket before your insurance policy kicks in. Be sure to choose a policy with a deductible that you’re comfortable paying in the event that you need to use your insurance.

Also read: Best Health Insurance Plans for Visitors to US

What are the exclusions?

All insurance policies come with exclusions, so be sure to read the fine print and understand what’s not covered by your policy. This is especially important with travel insurance, as there are often many exclusions related to pre-existing medical conditions, adventure activities, and more.

Is the company reputable?

When purchasing any type of insurance, it’s important to make sure that you’re working with a reputable company. Check out reviews online and make sure that the company is licensed to sell insurance in your state.

By asking yourself these questions, you can be sure that you’re choosing the right travel insurance policy for your needs.

Also read: Where to buy travel insurance from

What is my destination?

Your travel destination plays a very important role in the specific plan you buy.

For instance, if you are travelling to the US, where medical costs are skyrocketing, you are not left with any other option than to invest in a good travel insurance plan to save yourself a fortune in case you fall while in that country.

What will I do there?

Are you going to a particular country for business, to explore the destination or simply to relax? The purpose of your visit will largely determine the urgency for you to buy travel insurance. The more activities you intend to participate in while visiting a foreign land, the more you’ll expose yourself to risks.

Why do I need travel insurance?

In case of a medical emergency, where there is a need for overnight hospitalization or emergency repatriation, the emergency assistance team of the insurance company helps you make arrangements and approve costs so that you can focus only on getting the best treatment, rather than stressing about the costs and arrangements.

Do I need to assure adequate finances for my travel?

In case of day-admission to a hospital, you need to pay out of your own pocket. The amount will be reimbursed to you by the insurance company when you submit documents proving the expenses. So, yes, you need some readily available cash.

For how long will I be staying in the foreign country?

The duration of your stay in the destination country will determine the premium you’ll need to pay.

What kind of plan will suit me best?

Most insurers offer multiple plans, including single-trip, multi-trip, student and senior citizen policies.

For frequent flyers, opting for a cost effective annual multi trip plan would be a wise choice, which covers multiple trips within a year, where each trip can extend up to 30-45 days.

What should the insurance policy cover?

Your travel insurance plan should include various covers, such as medical emergencies, trip cancellations, trip interruptions, trip delays, lost or delayed baggage, repatriation, etc.

What is the policy’s maximum payable?

During an emergency, the bill can suddenly soar, especially if you are travelling in a country like the US. It is, therefore, recommended that you buy a policy offering a maximum of at least $1 million payable, to avoid facing money issues during an emergency.

Why should I compare various travel plans?

Due to the lack of awareness amongst a large number of travellers, travel insurance is still not a very popular product.

This compels insurance companies to offer competitive pricing for their policies.

Comparing various plans will help you find the best deal being offered.

When comparing, don’t just compare the sum insured and the premium, but also focus on their online services, PPO network, claim settlement record, payment options, etc.

Will I get reimbursed if a pre-existing medical condition flares up?

Unfortunately, most travel insurance plans do not cover for pre-existing medical conditions.

However, there are some that do. Learn more about this here.

Got questions? Please ask in the comments.

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