This is the ultimate guide you’ll ever need when looking for travel insurance in India, or for international travelers. After the pandemic, the world has opened up again for travel, and many people are traveling for work or vacation to various international destinations. However, as you know, once you step into another country, your basic health insurance may no longer be applicable, and having travel insurance becomes essential to protect yourself from any health problems or medical emergencies.
Many of us get everything ready before traveling, but we often overlook getting travel insurance. Yet, it is one of the most important parts of traveling. The concept of travel insurance was first introduced to me by IRCTC, where they used to charge INR 0.50 for travel insurance. From there, the concept of insurance has advanced significantly, especially regarding insurance for foreign countries.
Previously, the idea of insurance was that if there were 100 users paying INR 100 each, totaling INR 10,000, even if there were a loss of INR 1,000 for three customers, the insurance company would still end up making a profit.
Why Do We Need Travel Insurance?
Whenever we step out of our homes for any reason—whether for work or vacation—travel insurance is a must-have. This is because not everything always goes according to plan.
What Can Go Wrong?
- Cancelled flights
- Delayed flights
- Luggage damage
- Stolen luggage
- Lost passport
- Medical emergencies
Many countries nowadays require everyone to have travel insurance along with their visa. However, it’s always recommended to buy travel insurance online or offline before you travel.
Here Are 3 Major Reasons Why You Should Get Travel Insurance:
- Financial LiabilityMost travel insurance companies cover your financial liability in case of any mishaps. So, with travel insurance, you can be protected from things like theft, medical emergencies, and even damage to your luggage in a foreign land.
- Immediate and Reliable Source of HelpWhen you’re in a foreign country, your travel insurance company can be a reliable source of help in case of an emergency. Often, we don’t know many people while traveling, making it difficult to get assistance in situations like accidents or theft.
- Peace of Mind While TravelingHaving insurance gives you the peace of mind that whatever happens, it’s not your financial liability. This allows you to travel and enjoy your trip, focusing on what’s important.
What Is Covered in Travel Insurance?
Different policies cover different things, but I will summarize the basics to give you a broad understanding.
Things Covered in Travel Insurance:
- Medical emergencies, whether due to illness or accidents
- Hospital allowance in case of hospitalization
- Sum insured in case of death or permanent disability
- Loss of baggage
- Loss due to flight delays
- Repatriation in case of death
Tata AIG – Travel Guard Plus Gold
- Medical Expenses: $250,000
- Loss of Passport: $250
- Baggage Loss: $300
- Premium (₹): 4,108
- Pros:
- Refund of Visa Fee Add-on: This is a unique feature allowing you to claim a refund of your visa fee if your visa application gets rejected.
- Comprehensive Coverage: Suitable for travelers looking for a well-rounded plan.
- Cons:
- Higher Premium: The premium is on the higher side compared to others offering similar or better benefits.
- Limited Baggage Loss Coverage: Only $300 for baggage loss, which might be inadequate for travelers carrying expensive items.
Niva Bupa (formerly known as Max Bupa) – Travel Assure
- Medical Expenses: $250,000
- Loss of Passport: $300
- Baggage Loss: $750
- Premium (₹): 2,294
- Pros:
- 100% SI Coverage for PED in Critical Condition: Ensures that pre-existing diseases are fully covered if they become critical during the trip.
- Lower Premium: Offers a competitive premium for the coverage provided.
- Better Baggage Loss Coverage: $750 for baggage loss is one of the highest among the options.
- Cons:
- Lack of Global Assistance Services: There is no mention of global assistance, which could be a drawback in case of emergencies abroad.
Reliance – Travel Care Individual
- Medical Expenses: $250,000
- Loss of Passport: $300
- Baggage Loss: $1,200
- Premium (₹): 2,917
- Pros:
- Adventure Sports Add-on: Ideal for travelers planning on engaging in adventurous activities.
- Claim Assistance Anytime, Anywhere: Support team available for emergency claims via WhatsApp, which adds convenience.
- Highest Baggage Loss Coverage: $1,200 for baggage loss is the highest among all compared plans.
- Cons:
- Limited Medical Expense Coverage: Despite decent overall coverage, the policy might be insufficient for destinations with high medical costs.
Care Health – Explore Gold (Including US & Canada)
- Medical Expenses: $200,000
- Loss of Passport: $300
- Baggage Loss: $750
- Premium (₹): 3,565
- Pros:
- Specialized for US & Canada: Designed for travelers visiting the US & Canada, where healthcare costs are extremely high.
- Competitive Pricing: Offers a good balance of cost and coverage, especially for high-cost destinations.
- Cons:
- Lower Medical Coverage: $200,000 for medical expenses may be inadequate for travelers to the US & Canada.
- Slightly Higher Premium: The premium is slightly higher than some other plans offering similar coverage.
Bajaj Allianz – Travel Ace Lite – Gold
- Medical Expenses: $250,000
- Loss of Passport: $300
- Baggage Loss: $750
- Premium (₹): 5,630
- Pros:
- Global Assistance Providers: Access to a wide network of assistance providers worldwide, which is crucial during emergencies.
- 24/7 Support Helpline: Offers round-the-clock support, enhancing the convenience and reliability of the policy.
- Cons:
- Highest Premium: This plan has the highest premium among the options, which might not be justified by the additional features.
- Limited Baggage Loss Coverage: Similar baggage loss coverage to less expensive plans.
DIGIT General Insurance – Happy Traveller – Double Secure
- Medical Expenses: $250,000
- Loss of Passport: $250
- Baggage Loss: $750
- Premium (₹): 3,618
- Pros:
- Extensive Coverage: Offers comprehensive coverage for travelers, including reasonable baggage and passport loss.
- Competitive Pricing: The premium is competitive given the coverage, making it a good option for budget-conscious travelers.
- Cons:
- Lower Passport Loss Coverage: Only $250 for passport loss, which might be inadequate for replacement costs in certain countries.
- Higher Premium Compared to Similar Coverage: Slightly higher premium compared to plans with similar coverage.
Royal Sundaram – Travel Secure – Leisure Trip
- Medical Expenses: $200,000
- Loss of Passport: $250
- Baggage Loss: $500
- Premium (₹): 2,634
- Pros:
- Affordable Premium: This plan is one of the most affordable, making it a great choice for budget travelers.
- Leisure-Specific Coverage: Tailored for leisure trips, which might include coverage for less rigorous activities and needs.
- Cons:
- Lower Medical Coverage: $200,000 might not be enough for destinations with high medical costs.
- Limited Baggage Loss Coverage: Only $500 for baggage loss, which might be inadequate for travelers with expensive items.
Kotak General – Kotak Smart Travel – Gold
- Medical Expenses: $250,000
- Loss of Passport: $300
- Baggage Loss: $500
- Premium (₹): 4,522
- Pros:
- Reliable Brand: Kotak is a well-established brand with a reputation for reliability in the insurance sector.
- Comprehensive Coverage: Good overall coverage with a focus on essential travel needs.
- Cons:
- Higher Premium: The premium is higher compared to similar plans with better baggage loss coverage.
- Limited Baggage Loss Coverage: Only $500 for baggage loss, which is less than other plans with a similar or lower premium.
Recommendations
- Best Overall Coverage: Niva Bupa – Travel Assure offers comprehensive coverage at a lower premium with good benefits.
- Best for Adventure Sports: Reliance – Travel Care Individual is suitable for those who need adventure sports coverage.
- Best for High-Cost Destinations (US & Canada): Care Health – Explore Gold is designed for travelers to high-cost regions like the US & Canada.
- Best Budget Option: Royal Sundaram – Travel Secure – Leisure Trip provides adequate coverage at an affordable price.
