Travelling is for fun and recreation. But it is not always fun, as there might be an occurrence of some unforeseen contingencies. Having travel insurance keeps you covered against all financial losses that might occur while you are travelling. But do you know how to select the best insurance? Here are the steps you need to consider to buy travel insurance online.
- The coverage offered
The first and foremost thing to consider while buying travel insurance is the coverage that the policy offers. Assess the plan and policy according to your travel plan, expenses, and requirements. Also consider the purpose and length of your travel and then choose the features of your policy accordingly. This includes considering the locations and activities that you plan on engaging in. If the plan includes adventure sports, you can choose your policy accordingly.
- Add-ons offered
Travel insurance policies offer extra add-ons which enhance your coverage in return of additional premium. By choosing the right add-ons you can avail extra coverage benefits and discounts which are not included under the normal policy. Through add-ons you can customize your policy plan according to your exact requirements.
- Type of plan required
Travel insurance plans are offered in different varieties. There are plans that cover specific geographical locations, like Asia, Schengen countries, domestic travel, etc. These policies also cover special plans for children, senior citizens, students, etc. You can choose the plan that is most suitable to you and make your travel experience stress-free and comfortable.
- The rate of premium
The rate of premium that you will be paying for your policy should be in accordance and commensurate with the coverage and benefits offered. Do not always opt for a policy that is the cheapest, without considering other factors. Consider doing an all round analysis of the policy and then choose the right one.
- Claim settlement ratio
You should always check the claim settlement ratio that the company and the specific policy have to offer. Having a high claim settlement ratio increases the probability of your claim being settled. This will prove to be favourable on your side in times of crisis and in need of raising a claim. This is an important aspect to be considered, but should not be a sole criteria.
- Members covered
While choosing a travel insurance for your family trip, you should consider a plan that covers all the family members. Problems and contingencies faced by any family member can be more traumatic and can make you feel helpless while in an unknown place. It would be the most ideal to get a comprehensive plan that covers all the members.
- Compare before final buying
Before buying a policy, always consider the above-mentioned factors and compare them for different companies and policies available in the market. It is only after doing a well-informed comparison that you must take the final decision.
Companies like Bharti AXA provide some of the best travel insurance policies in the market.