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Commonly Asked Questions on Travel Insurance Part II

1. When is the right time to buy a Travel Insurance?

The earlier the better is the ideal way here. Simply speaking, there is no advantage in holding off when it comes to buying travel insurance.  Other than that this, it is recommended that you buy travel insurance or a travel medical insurance cover as soon as you make the trip deposit. In other words, a trip deposit date should be the date of reference for buying a travel insurance plan.

Let us understand what a trip deposit date is. Let’s say, Rohit wants to go to Europe for a vacation. He will need a robust travel insurance plan so that he is secure from any untoward incident while he is on the holiday. Once his schedule is finalized, he books his flight tickets for the trip. In this case, the trip deposit date for Rohit will be the day the tickets were booked. Thus he needs to make sure that he buys an international travel insurance policy as soon as possible. 

Essentially, the trip deposit date is the date a person makes the first payment towards his travel tickets. Additionally, the payment need not be a complete payment of the fees or charges. Even a part payment or deposit towards the trip fees will suffice.  

An important reason for buying travel insurance early is that it secures you from the risk of falling into the list of exclusions. Although it varies as per insurance companies, several coverages such as protection against a natural calamity require you buy a travel policy as soon as the travel deposit is made. Another risk of delay is that you may be compelled to travel without coverage for the initial days due to the fact the policy period kicks in only later.  So the next time you book your travel tickets, make sure you get the travel policy immediately.
2. Can you buy travel insurance after booking a flight?
As you might have already guessed, yes, you can. As discussed above, just make sure that you don’t delay it till the last to avoid a number of hassles during the trip. When it comes to the latest date by which you can avail a travel cover, generally it is either the day you undertake the trip or the day before it. Again, this is a scenario best avoided.

3. Where do you buy travel insurance?
You can buy a travel insurance policy through several modes. They include online, over-the-phone, as well as through an insurance agent. However, it is recommended that you buy it online since insurance companies offer a lot of lucrative discounts and offers online. Also, you may avail a cashback if you pay the premium via credit/debit card or an e-wallet such as Paytm. Do check out Reliance Travel Insurance that offers travel plans at an incredible starting price of just Rs. 306*/day.

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