As our economy grows, people have started to travel more. In fact, Travel Industry is poised to grow by 14% annually over the next decade. People often try to find some time off from their hectic work schedules and head out for a nice trip with their family and friends. Travel helps them to unwind and relax away from the stressful work culture and strict work schedules. When you book a holiday trip, it is always better to choose travel insurance too. So, how do you choose the best travel insurance that works well for you? Read on to know more!
Answer These Questions First!
Before you decide the travel insurance, answer the following questions first. The answers to all these questions can help you in making the right decision:
- Who are all going for the trip? What is their age?
- Where are you planning to go? Is it nearby or far? Is it a dangerous place?
- How often do you plan to make the trip? Are you planning a regular trip to a place? In that case, you need to opt for a multi-trip cover
- What are you planning to do at that place? Do you plan to do any adventurous or sports activities? Such activities usually cost more amounts for insurance
- Do you have any existing medical conditions? What are your chances of falling sick at that place? If you are at a higher risk of illness, then obviously the insurance amount will also be costlier.
If You Travel Along with Someone Else
In case you are planning to go on a trip with someone else, then here are travel insurance choices you have:
- Couple Insurance: If you are traveling with your partner, you can opt for couple insurance.
- Single Parent Insurance: This travel insurance covers one adult and their kids.
- Family Insurance: If you are traveling as a family, you can opt for this insurance. It covers two adults and four kids that live along with the adults.
- Single Child Couple: If you have just one kid, then this one is a much cheaper variant of the family insurance.
Travel Insurance Cover
The choice of travel insurance also depends on the type of travel insurance cover you need. Most of the travel insurances cover the following criteria:
- Meets emergency medical and surgery needs that cannot be delayed at any cost.
- Meets the cancellation costs if the trip had to be canceled due to some uncontrollable reasons.
- Meets the expenses of delay or cancel in transportation due to difficult weather conditions or other uncontrollable external factors.
- Meets the expenses of a sudden need to travel back home due to some medical reasons.
- Meets the expenses of a lost, destroyed, stolen or damaged baggage.
- Meets personal liability expenses if you are held responsible for the damage to anyone else’s property or caused injury to someone else.
A Quick Look at The Options
Here is a quick explanation that can help you make the right decision:
- If you are planning to travel to a nearby, domestic and cheaper destination, yet outside the network of your health insurance; then a travel medical plan will be the apt choice for you. It won’t cover trip cancellations. But that won’t be an issue when you travel to a nearby place.
- If you are planning a grand trip, a once in a lifetime expensive trip with all your savings, then you could go for a package plan. This is also the best choice if you have budget restrictions and would rather save your money for the trip. Package plans comes with a complete cover for all risks involved in travel. It also takes care of trip cancellation charges.
- If you have an insurance gap and need a plan to cover it while you go on a trip, then you could opt for a special plan that covers your need. For instance, in case your medical expenses are already covered by your present insurance, then you just need to find a travel accident insurance plan.
Hence, always choose your travel insurance after a careful evaluation of your needs. Don’t blindly choose travel insurance just because your friend or relative chose it. Their needs may not be same as yours. You might have different needs and might even get less costly insurance for your exact needs. Hence, always study the options available. It would be a great idea to get in touch with an insurance company executive and explain your needs and concerns to him/her. They can direct you in choosing the best available travel insurance for your trip. A wise decision can help you in more than one ways! Make sure you make the best decision!