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What coverages should a travel insurace provide?

​Deciding on the right travel insurance​​​ does not take weeks, however, it definitely requires some serious consideration. In this article Arundhati Singh writes about some of the main factors that one should consider while picking his/her trip insurance.

While planning a foreign trip, you would definitely like to buy a travel insurance which would protect you against every possible situation that you could face while traveling. Planning a travel insurance policy for your foreign trip requires proper planning of your budget as well. Most of us would prefer to opt for the least expensive plan as the best one.

Best international travel insurance policy is very relative, as it totally depends on one’s personal requirements and choice. In addition, factors like where are you traveling, the tenure of your tour or vacation, whether you are travelling alone or with family, etc. play an important role in determining the best travel insurance plan for you and/or your family.

International travel insurance, also known as trip insurance, covers the cost of unforeseen crisis like events when you are on a foreign land. For instance, loss of checked-in luggage, an accident, a delayed flight is mostly considered as unforeseen emergencies by all travel insurance policies.

Picking the right trip insurance does not take weeks, however, it definitely requires some serious consideration. Read on to know about some of the main factors that you should consider while squaring down on a travel insurance policy for you and/or your family.

Factors you should consider to buy a travel insurance policy -
Most of the travel insurance policies offer coverage against expenses incurred towards delays or cancellations of your trip. Irrespective of how much this coverage costs, it would be a wise decision to opt for this coverage in your travel insurance policy.
Often it has been observed that in event of a trip cancellation, if the airline declines to pay for the tickets, the travel insurance takes care of the same. Similarly, if due to trip cancellation you incur losses towards hotel bookings, then you can check with your travel insurer, for your travel insurance policy might reimburse you even on that front.

If you are flying international, you should definitely opt for checked-in luggage coverage under your travel insurance policy.
Also, while travelling abroad, one should always consider buying a comprehensive travel insurance policy. Comprehensive travel insurance covers the expenses incurred towards emergency cases like your medical care, possible dental care, trip delays, checked-in luggage delays, personal accident, etc..

If you are planning a long trip, then the chances of you getting sick during the trip automatically increases. Therefore, having a medical coverage in your travel insurance policy is very essential.

What to expect from your travel insurance company?
On the face value, almost all travel insurance companies appear to be same in most of the aspects. However, when you do a comparative study of the features, benefits and prices of the policies offered by these companies, you would find a mark-able difference.

You may come across some general insurance companies who offer travel insurance policies, but you may not find many promotions from them regarding their services and products. While you are hunting for a travel insurance policy, ensure to check the company’s financial ratings to verify that it is financially stable.

Factors that would determine the cost of your travel insurance policy -

Your age, number of people insured under the travel insurance policy, pre-existing, purpose of travel and trip duration are some of major factors that would determine your travel insurance premium.

One of the best ways to decide a budget of your travel insurance policy is using a premium quote tool. You can visit different websites of the different travel insurance providers and create your travel insurance premium quote by filling in few details in a form. This will provide you with comparative premium rates offered by different companies. In addition, will also give you an idea about the benefits and services you will be offered. Taking these two aspects into consideration – premium rates and benefits & services – you can make your choice of the travel insurance policy that suits your need the best way. There is no compulsion that if you are using quote tool, you will have to buy the travel insurance policy from that particular company.

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