While traveling to new places and enjoying new experiences can be pure bliss, a foreign place can be intimidating in an event of an emergency. Although while paying the travel insurance premium we hope that we never get to use it, in unprecedented misfortunes on foreign land, good travel insurance comes to the rescue. Travel insurance provides us peace of mind that is priceless and at times solutions to grave problems while traveling.
Why do you need to buy travel insurance?
Unlike popular belief, overseas travel insurance products not only provide cover in case of medical emergencies but also, in case of other unforeseen and unavoidable expenses such as cancellation or change of flight. Travel insurance even extends to medical evacuation to home country in cases where the patient needs immediate medical care.
How to buy travel insurance online?
Choosing the best travel insurance plan that suits you, out of the array of overseas travel insurance products can be quite intimidating. Knowing how to select the perfect overseas travel insurance plan online can make all the difference. And here are a few steps on how you can buy travel insurance online with ease:
1. Check with existing policy providers
It is advised that you should always check with your existing insurance provider before purchasing a new plan out of the various overseas travel insurance products available online. Being an existing customer, the new plan could be at better rates or with increased inclusions. Also, you would have the first-hand experience of the policy providers’ services. Therefore, the first and foremost step would be to check if any of the overseas travel insurance products offered by your policy provider suit your needs.
2. Who to include your policy
If traveling with family, it is critical to include all members of the travel insurance and make sure that each of them gets maximum coverage. This step is crucial, as some policies require special paperwork and process in case of minors traveling abroad.
3. Coverage restrictions
It is pertinent to review and analyze the inclusions and exclusions while purchasing the travel insurance. For instance, some insurance plans offer extensive coverage such as inpatient and outpatient costs while some plans offer reimbursement till the patient is discharged. It is always advised to read and understand the coverage restrictions in depth.
4. Relevant medical history
Certain insurance providers require that you disclose any pre-existing medical conditions while purchasing an overseas travel insurance plan. You can be asked for a medical checkup or past medical records. This can affect or delay your coverage, hence always check what are the terms of a potential travel insurance plan towards pre-existing medical conditions.
5. Apply at least one week ahead
It is important that you purchase an overseas travel insurance plan well ahead of time so that all the bookings you make towards your trip. But a week before the trip it becomes absolutely necessary to get an overseas travel insurance plan. This is because certain insurance providers run background checks and verifications before putting the cover in action, this could at times take 2-5 business days and maybe more, hence it is crucial to purchase the travel insurance at least one week before your departure date.
6. Travel Destinations
While choosing the correct overseas travel insurance product, it is pivotal to include all your travel destinations, even cities your flights are scheduled for a layover. This would ensure complete coverage for you and your family (if applicable) at all time during the trip.
7. Adding Types of Travel
The terms and conditions for certain insurance policy are different for various types of travel, some factors would be included if you are traveling by air while that might not be the case for traveling by road. For instance, if traveling by air, your loss of luggage could be included in the insurance cover. Therefore it is vital, that you include all modes of transport relevant to your trip.
8. Email Confirmation
Once these steps are taken care of and you have made the purchase, do not forget to take an email confirmation from the service provider specifying the terms and stipulation of the policy contract. It is also advised that you carry a printed copy of this policy while traveling to ensure hassle-free claims and/or cashless services in the time of need.
Tips to keep in mind while buying travel insurance online
1. Plan Ahead
If you plan well ahead of the trip, not only would you have time to compare various overseas travel insurance products but you can also have all your bookings and payments included in the coverage.
2. Understand the product
As with all insurance and investment products, it is strongly advised that you must read and understand your travel insurance document before leaving for the trip so that you are equipped with the necessary information.
3. Identify Who and What to insure
While it is the first instinct to insure everyone and everything in the insurance cover, it is not a viable option as that could mean skyrocketing premium prices, hence you must be sure to include only yourself and the family members along with the most essential and valuable articles.
4. Check all points of consideration
It is always reiterated that you check all points of consideration such as the lists of inclusion and exclusion while purchasing an overseas travel insurance product.
5. Annual Policy vs. Single Trip policy
If you are a frequent domestic or foreign traveler, it is more practical to opt for an annual policy whereas if you travel occasionally you should select a single trip policy.
While buying the travel insurance from an insurance agent, he/she is present to address your concerns; it is not possible while purchasing the plan online. But, if you buy overseas travel insurance plan online, you get to choose from a plethora of different products and compare them. As far as how you should buy travel insurance online, these few steps and tips should not be missed.
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