How to Choose a Good Travel Insurance Plan

Given the number of natural calamities, terrorists attacks, medical emergencies and more taking place across the world, buying travel insurance is no longer a luxury, but a necessity today. Moreover, with the increasing cost of plane tickets and accommodation, travelling internationally isn’t cheap either. So, which international travel insurance should you choose? A good international travel insurance plan not only provides you with medical coverage if you get sick or injured while overseas, it offers you compensation in case your luggage gets stolen, while also compensating you for flight cancellation or interruption. Although having travel insurance doesn’t reduce the probability of something unfortunate occurring, but it certainly reduces the amount of stress and expenses you need to bear.

5 Tips to Choosing the Best Plan for Your Next International Trip

1. Consider Your Destination: When choosing a travel insurance plan for an international trip, it is very important that you do thorough research about the medical costs in that country. It helps you determine the amount of cover or the required sum insured. For instance, in a country like the US and Canada, you’ll require the highest sum assured and need to pay higher premiums for this, since health care costs in these countries are extremely high, when compared to other parts of the world.
2. Duration of the Trip: If you are planning to stay long, the premium you would end up paying for a single trip policy would be higher. However, if you are a frequent flyer, opting for a cheaper, annual trip policy, which is usually valid for a year, tends to be a judicious choice. These policies cover all trips made during that year, where each trip can extend for as long as 30-45 days.
3. Buy Travel Insurance Instantly: Many people commit the mistake of delaying the insurance purchase to the last minute. However, it is always advisable to purchase insurance before you make your first payment towards the trip, such as buying flight tickets, to enjoy instant coverage. There are many countries, such as the US and the Schengen countries, where having travel insurance is a necessity to obtain a travel visa for that country, only adding to the urgency of buying a policy.
4. Read Between the Lines: Insurance policies tend to use technical jargon, which could make understanding the fine print the most annoying part of the purchase. However, it is important to read the policy terms carefully, so that you are aware of what all is covered by your policy and what isn’t. You should know that the best plan would cover basic things like medical emergencies, trip cancellation/interruption, emergency evacuation, lost luggage and property theft/damage.
5. Know What Your Policy Doesn’t Cover: Many times we tend to focus on coverage but pay little attention to what’s excluded. For example, almost all international travel insurance policies cover for medical emergencies, but many do not cover for pregnancy related issues, pre-existing conditions, and injuries caused due to high risk activities, such as scuba or sky diving, skiing, etc.

If your trip includes any adventure sports or risky activities, it is better to opt for a policy that offers you coverage for these. Following the above mentioned steps will help you choose a good international travel insurance policy, assuring a peaceful journey.