Topic: Choosing a Travel Insurance Policy

I am from Hyderabad. I frequently travel abroad with my wife to various countries in Europe, Americas and South East Asia. How does one choose the best coverage which at the same time is cost effective?

Hi,
The best plan for you is the international travel insurance from Future Generali. They have the following plans that you can select from:-

1) Single trip plans
2) Annual multi trip plans
3) Asia travel plan and many more

As per my experience they settle claims quickly as compared to other companies also they have good global services and hospital network across the world. For further details visit their site.

In India few of the companies provide the services of the travel insurance and thus you may select the best that suits you if you regularly goes outside with family then annual trip plan with family will be the best choice.

You can visit www.apnipolicy.com and check the travel section. You can compare features and premiums of various policies there.

Bhushan
9967280006

I suggest you take an international travel insurance plan by Royal Sundaram. You can select their multi trip plan and avail health cover, personal accident cover, automatic extension of the policy, cashless hospitalization abroad and much more. You can get their policy within 5 minutes, without documentation or medical tests, online. My friend has recently purchased their policy and is quite happy with the on-goings of the policy. I hope this helps.

Travel insurance is mostly not cost effective, secondly it also depends which plan do you choose.

Choosing a Traveling insurance
Here are some tips to get your search started:

Research your current coverage by checking with your existing health insurance provider and your credit card provider. American Express offers travel insurance to card members.

1 Ask your travel agent. REI Adventures recommends Travelex.

2 Explore the web.

3 Access Your Needs

Several factors will determine which insurance policy is best for you:

. the length of your trip
. your destination
. participation in high-risk sports (e.g., mountaineering, climbing)
. your general health

Compare Features

Weigh your needs against the types of coverage offered. Remember to read all the fine print. Consider:

what's covered, and what isn't
the cost
the deductible

Choosing a policy

Step 1: You’ll need different levels and types of cover depending on where you’re going. For example, if travelling to the US where healthcare is expensive, we recommend you take a policy that has ‘unlimited’ medical cover.

Step 2: How do you travel - backpacker or first class?

Luggage and personal belongings: will you be taking expensive items or will you be travelling light?
Activities: will you be skydiving or bungy-jumping, hiring a car, or backpacking and picking up work as you go?
Family, needs and health: do you have special medical needs, are you travelling with children or do you have relatives that may become ill while you are away?
Advance bookings: are you booking fares, accommodation and tours in advance? If so, consider cover for cancellation, additional expenses and delays.

Step 3: How to save $$$

Buy online if you can find a discounted policy that suits your needs.
High commissions leave plenty of room to negotiate with agents.
If you travel overseas several times each year, annual multi-trip policies may work out cheaper overall.
Some companies (for example health insurers) give discounts to members.

Step 4: Start shopping for a policy. Contact at least 3 insurers and read their policies to decide which one suits you best.

Travel insurance policies have a wide variety of conditions, exclusions, and levels of cover so before you choose Travel Insurance Direct ask yourself the following:

1. What type of insurance do you need?

A backpacker going overseas for a year or more has very different insurance needs from a family holiday to Italy for 3 weeks where you need a much more comprehensive package of benefits such as cancellation and delay cover.

Check out our Easy Guide for more information on the sections of a policy to find out what suits you and always read the policy wording carefully.

2. Where are you going?

Medical and legal costs as well as the quality of medical services, can vary widely between countries with the USA, Canada and japan typically being the most expensive. If you required emergency medical evacuation what would the likely costs be?

3. How old are you?

Older travellers simply may pay more and you might be required to complete a medical report for certain pre-existing conditions (but they do get cheaper car insurance). Travel Insurance Direct can cover people less than age 81 at the time of departure.

4. Do you have any existing medical conditions?

Pre-existing medical conditions are usually defined as any medical or dental condition for which you've received treatment or advice within a specified time prior to the policy being issued. Some minor medical conditions are often covered free of charge but other more serious conditions may be covered but you probably have to apply and pay additional premium. If you are pregnant, cover is limited to less than 26 weeks into the pregnancy.

5. What will you be doing while you are away?

Will you be taking a laptop or expensive camera or will you be travelling light? Will you be skiing, canyoning or bungy-jumping? Almost all policies exclude mountaineering using ropes and professional sports. Check the Product Disclosure Statement in detail if your trip is 'unconventional' and always ask before you buy if you still aren't sure.

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