Planning to go for a holiday? Have you made a plan to cover any serious medical illness or accident during your stay? Well, with the rising cost of medical expenses all across the globe, it is very important to get a health insurance cover for yourself before you plan to travel abroad.
Well then does the travel insurance cover your medical expenses only? No that’s not the case, as the travel or holiday insurance, apart from providing you relief from your huge medical bills, also provides you with a cover against lost luggage; Also covering your personal belongings such as passport and money as well. It also covers expenses borne by you in case of delayed or cancelled flights, or the third party damage, if any, caused by you. Therefore, because of the reasons given above it almost becomes mandatory to go for a comprehensive travel insurance policy.
However, after knowing the benefits of taking travel insurance, you may be wondering as to how much does it cost and where to get it from? Both these factors are directly related to each other. For example, the insurance cover you get from an insurance agent will cost you more when compared to the insurance cover you take online after doing a proper research on the subject. Also, sometimes the insurance is also offered as a part of some travel package and mostly has some hidden cost behind it. But not all cheap travel insurance plans are good too. So when buying a travel insurance policy, one must be very careful.
Let’s now understand the different types of insurance policies.
While the annual trip insurance policy covers you for all the trips you take throughout the year, the single trip insurance cover is applicable for even a single trip. The annual trip insurance policies are far more economical than their counterpart, which need to be taken for every single trip. As they need to be booked only once a year, they are far more convenient than looking for an insurance agent each time you travel. However, remember to choose the date of policy very carefully as it is applicable for full one year.
As the name suggests, the Family travel insurance policy provides the insurance cover for the entire family rather than for a single family member. When covering a bigger family consisting of a number of children, it is always advisable to go for a standard insurance policy that charges the same premium for the entire family irrespective of the number of children in the family. A child will be someone who is below 18 years of age.
Next let’s look at the business travel insurance, provided on an annual basis as any businessman would make multiple business trips throughout the year. Not only does it cover standard things detailed above, but also provides an insurance cover against PDFs and Laptops, and even golf equipment in certain cases. You can also opt for a colleague replacement cover, where the policy will then cover your colleague travelling on your behalf in case of an emergency.
Therefore when selecting a travel insurance policy online, be sure to use a policy finder to find the best insurance quotes that suit your requirements perfectly.