(content by Alex H)
Given the technology and domains hosting a number of websites, the internet is flooded with information. Sorting out the necessary from a seemingly indefinite pool can be mind boggling and tiring. Apply this to travel insurance, well, the market is flooded.
Worry not, take a breather. We’ve compiled just the right steps to reach your desired destination.
Depending on your preferences, there are three types of coverage levels:
– The insurance company involved with your purchase
– Your travel insurance plan
– Your deductible’s size
Important factors to keep in mind before browsing through insurance
· Coverage extent
· Amount of premium
· Pay-out time and requirements (supporting documents alongside
the claim)
· Upgrades
Coverage Extent
Some of the coverage areas you should consider are:
– Medical Evacuation
– Pre-existing Medical Conditions
– Trip Cancellation
– Medical Emergency
– Hazardous Sports
– Natural disaster
– Terrorism
– Bankruptcy or layoffs
– Rental vehicle coverage
– Delays
– Accident or death
– Baggage loss
- Theft
- Airport baggage loss
- Electronic goods
- – Destination
- – Traveller type
- Senior citizen
- Frequent traveller
- Single trip
- – Assistance services
- – Value of goods
- – Risk aversion
- – Renewal policy
- – Money back guarantee
* For domestic purposes check with your healthcare insurance provider.
*Always purchase your insurance 14 days in advance to your departure
Exclusions
Make sure you record these, activities mentioned below would not be compensated in any manner. Check with the company if they provide protection for any of these.
- – Medical Expenses Due To Unproven Treatment:
- – Illegal Activity
- – Cosmetic Surgery
- – Self-inflicted Injury/Harm
- – Participation In Warfare
- – Performing Professional And Risky Sports
- – Non-Allopathic Treatment
- – Treatment That Could Be Delayed Until Return
- – Limitations In Medical Expenditure (declare any pre-existing medical conditions. Failure in doing so may result in nullification)
Ways to reduce premium
Here are a few suggestions to cut down on the premium:
1. Always buy online and direct
Skip out on the staggering commission charges by buying travel insurance online.
One such online platform, trusted through years is Bharti AXA. With a wide coverage according to your needs, their tailor made insurance gets you covered holistically. Check out their online domain.
2. Check your general policies
In case of any overlaps, you can skip that out from your travel coverage. Especially in case of domestic travel.
3. Group travels
In case of group travels, buy a single policy instead of getting individual ones. This saves a lot of money and might come with benefits depending on the provider.
4. Customer loyalty
In the instance of a previous insurance investment from a company, they might provide you with additional benefits.
After the purchase
- – Get a soft copy of the confirmation mail
- – Review the policy, description of coverage and certificate for verification.
- – Go through the Exclusions (the Free Look Period is for reviewing and can get you a refund before a claim or kick start of your trip)
- – Go through the Exclusions section.
- – Contact your provider in case of any query or claims
*We wish you smooth sailing with your travel insurance. Safe journey reader!
Just to add a personal note to these recommendations. I traveled for years without travel insurance, thinking that I could cover or recover lost reservations, luggage, etc. but friends’ experiences made me realize that the medical and evacuation coverage is the real key.And then, a few years later we had an unexpected three-week hospitalization in Europe that ended with a medevac flight back to the U.S. The hospital bill was over $30,000 (much less than it would have been at home), and half was covered by the travel insurance (we had picked a $15,000 cap) and it also covered the medevac including a nurse and doctor with us. All told, that would have cost a fortune.Our insurance was with AIG, also known as TravelGuard; I highly recommend them. Throughout the three weeks of uncertainty, and then through the billing complications, their agents kept in touch with us, made calls and arrangements, and made the whole process far less stressful.One note to add to the advice in the article: the author suggests buying fourteen days in advance of departure; most insurers who sell in the U.S. limit what you can buy if you don’t apply within fourteen days of making your first payments for trip arrangements.