10 Questions to Ask Before Buying Travel Insurance

Written By Mani Karthik

I share everything I learned in life on this blog. Everything from personal finance tips to life hacks that'll make you a smarter person. Founded BackToIndia - on a mission to help NRIs move back to India.

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 to choose the right travel plan.

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 the 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 cover for 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 for medical emergencies, trip cancellation, trip interruption, trip delay, 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.

  How To Choose a Good Travel Insurance Plan

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 comments.

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