Tips to Compare Travel Insurance Online in India

Travel insurance protects you from the financial implications of flight delays, trip cancellations, and medical emergencies. That’s the reason why 9 out of 10 Indians plan to buy one for their next international trip. However, if you value the peace of mind that comes with travel insurance, it’s wise not to rush your decision. Instead, take your time and compare travel insurance plans.

A thorough travel insurance comparison on platforms such as PhonePe will help you pick the best policy for your unique requirements. And the best part is that you can compare travel insurance online in a matter of a few minutes. 

Here’s a guide to help you compare travel insurance online to find the best policy for your journey. 

How to Compare Travel Insurance Online?

Follow these steps when comparing travel insurance policies online:

Step 1. Assess Your Coverage Needs

First, you must understand the nature of your journey in order to pick an ideal plan. For instance, if you’re going on a peaceful vacation in a beautiful location, you can simply get standard travel insurance to cover flight delays, trip cancellations, lost luggage, etc.

However, if it is an adventure trip with high-risk activities like trekking and scuba diving, you’ll need specialised benefits like medical evacuation, accident cover, personal liability cover, and more. 

Step 2. Find a Trusted Insurer

You must not rely on unauthorised agents and unaccountable firms to find travel insurance policies. Instead, go online and find reliable insurers based on their historical performance and customer reviews. You’ll find various renowned brands from the insurance industry with numerous travel protection plans for you to compare and buy.

Step 3. Get Quotes from Insurer’s Website

Head over to an insurance provider’s website, where you’ll find critical information about policies and their coverage. In fact, you can provide your travel requirements on their website to get a custom policy tailored just for you, along with details like benefits and estimated cost. 

Step 4: Compare Travel Insurance Quotes

Once you’ve collected all the details about different plans, you can compare them based on their cost, sum assured, benefits, etc., to pick a plan that best suits your needs.

Factors to Consider When Comparing Travel Insurance Online

To find the best travel plans on the Internet, compare travel insurance policies based on these parameters:

1. Maximum Sum Assured: Consider the maximum sum assured offered by each travel insurance plan in your list. Compare how the compensation amount for various emergencies varies across policies to ensure you get adequate coverage on your journey. 
2. Medical Benefits: Make sure the policy you pick offers coverage for medical emergencies, including transportation to the nearest hospital, hospitalisation charges, and treatment. Additionally, prefer policies that also cover the cost of travelling back to India for treatment.  
3. Non-Medical Benefits: Issues like flight delays, trip cancellations, emergency transport and accommodations, lost/stolen belongings, etc., can prove to be costly in a foreign land and must be covered by the insurance provider. 
4. Exclusions: Generally, these plans don’t offer coverage for visits to danger zones, high-risk activities, pre-existing medical conditions, self-harm, etc. So, always compare travel insurance plans based on exclusions to ensure you get proper coverage.
5. Deductibles: It is the amount you pay out-of-pocket when claiming your travel insurance policy while the insurer covers the remaining cost of the claim. Always prefer a plan in which you can easily manage the deductibles without affecting your finances. 
6. Premium Amount: The premium is the cost of your travel insurance. However, low premiums may not always be beneficial, as such policies either have higher deductibles or miss out on key benefits. So, always prefer a plan that offers adequate benefits for the premium it charges.  
7. Insurer Reputation: Also, consider your insurer’s past track record to assess whether their services are reliable. You can look at reviews and testimonials to evaluate the insurer’s reputation. You should also consider details like the number of claims settled or rejected, the amount paid towards settlement, and the volume of complaints against the insurer.  
8. Claim Settlement Process: When faced with emergencies abroad, the last thing you want is to go through a complex procedure to file claims. So, make sure to review the insurer’s claim settlement process before buying their travel insurance plan.

Key Takeaways

You’ve probably heard the saying, “Look before you leap.” The same principle applies when shopping for insurance plans to safeguard you and your finances while on vacation. Always compare travel insurance online before purchasing one for yourself. This is the only way to make an informed decision and get complete protection throughout your journey.