Know everything about Travel Insurance before booking your next trip.

My first article for this year revolves around a resolution I've committed to make when it comes to travel. It's a simple yet profound pledge to give extra time to research and meticulously secure reliable travel insurance. My 2023 travels included trips to Dubai, Goa, Jaipur, and Kerala, and they were all enjoyable experiences devoid of any significant discrepancies. But talking to a few of my friends recently made me realise how important travel insurance is. So, I decided to learn more about it.

During a casual gathering, the topic of travel insurance surfaced, and while I had no or less (reminding you of my previous story of losing an expensive camera in Egypt) unfortunate tales to contribute, my friends shared their narratives highlighting the invaluable safety net that travel insurance provides, particularly when journeying abroad.

A trip might become unpleasant due to various reasons, whether it's you or anyone in your family falling seriously ill, encountering lost luggage, or experiencing trip cancellations. Reasons for potential disruptions are many, underscoring the important role of travel insurance in safeguarding you against such eventualities. Before giving you ultimate tips on choosing the right travel insurance, I want to reason why one needs travel insurance. Below are two instances that made me want to stick to the right insurance plan for all my future travel plans.

Anvehsa and her Lost Luggage Dilemma:

One of my friends, Anvesha, had been eagerly waiting for her trip to Europe for months. However, upon arrival, she faced a traveller's worst nightmare – her luggage was nowhere to be found. Despite filing a report with the airline, days passed without any sign of her belongings. Thankfully, Anvesha had opted for comprehensive travel insurance by ACKO, which included coverage for lost baggage. With the assistance of her insurance provider, she was able to purchase essential items and clothing to tide her over until her luggage was located. The insurance also reimbursed her for the lost items, ensuring that her trip wasn't marred by this unforeseen setback.

An upset tummy can wreak havoc, especially when you travel:

Rajiv, an adventurous traveller, decided to venture beyond the borders of India and explore the exotic landscapes and cultures of Indonesia. Armed with his curiosity and a sense of wanderlust, he set off on his solo journey, eager to soak in the beauty of this Southeast Asian gem. However, his journey took an unexpected turn when he fell seriously ill during his stay in Bali.

It started with a mild stomach ache that gradually escalated into severe nausea and debilitating weakness. Rajiv knew something was seriously wrong and sought medical assistance immediately. With the help of locals, he was rushed to a nearby hospital, where he was diagnosed with a severe case of dengue fever, a common mosquito-borne illness in tropical regions like Indonesia.

Despite the discomfort and uncertainty, Rajiv found solace in the fact that he had wisely invested in comprehensive travel insurance before embarking on his journey. With ACKO’s travel insurance, he knew he was covered for medical emergencies, including hospitalisation and treatment abroad.

Their team sprang into action, coordinating with the hospital staff to ensure Rajiv received the best possible care. From arranging specialised treatments to providing round-the-clock support, the insurance company took care of everything, alleviating Rajiv's worries during this challenging time. The insurance covered all his medical expenses, including hospital bills, medications, and doctor consultations.

Once he got back, he told us the importance of international travel insurance, especially when exploring unfamiliar destinations. It was a valuable safety net that not only provided financial protection but also ensured peace of mind during unforeseen circumstances. Even I believe having the right insurance can make all the difference in turning a potentially disastrous situation into a manageable one.

Here are a few ways to choose the right insurance plan :

Amidst the multitude of insurance options available, it's essential to equip yourself with the knowledge to make informed decisions. Allow me to present an ultimate guide to selecting the ideal travel insurance tailored to your needs.

By following these steps, you can embark on your journey with confidence, knowing that you've taken the necessary precautions to ensure your safety and security while travelling.

Before you start, you need to assess your needs: Assess your needs by considering factors such as where you're travelling (e.g., a remote jungle versus a bustling city), the length of your trip (e.g., a weekend getaway versus a month-long expedition), the activities you plan to engage in (e.g., hiking, scuba diving, or skiing), and if you may require specific coverage or accommodations.

Know more about the Types of Coverages: When exploring coverage options, prioritise policies that encompass medical assistance, trip cancellation safeguards, baggage protection, travel delay compensation, and emergency evacuation provisions to ensure comprehensive coverage for your journey.

Compare Plans: Check coverage limits, exclusions, deductibles, and network providers. Look for reviews and ratings of insurance companies and their policies from reliable sources. You are comparing the plans to home down into one fine plan that fits just right for your needs, and for that, you need to understand policy terms, claim procedures, and cancellation policy.

Price vs Coverage: When considering the value-for-money aspect of travel insurance, it's crucial not to solely focus on the cheapest option available. Instead, prioritise policies that offer comprehensive coverage tailored to your specific needs and potential risks. Explore potential discounts that may be available to you, such as those for seniors, students, or families, which can significantly reduce the overall cost of coverage. Furthermore, if travelling with a group, take advantage of group policies and inquire about potential discounts or special rates, maximising savings while ensuring adequate protection for everyone involved in the journey.

Purchase Early: Purchase insurance as soon as you've booked your trip to maximise coverage, especially for trip cancellation benefits.

Review Before Travelling: Confirm coverage details and keep emergency contact information handy.

Update Accordingly: Inform the insurer of any changes to plans or circumstances and extend coverage if needed. If your trip is extended, inquire about extending your coverage.

Emergency Preparedness: Last but not least, save emergency contact numbers in your phone and carry a hard copy. Keep copies of your insurance policy, passport, and other important documents safely.

The travel plan that I use: If you're new to frequent travel or have never purchased travel insurance before, a great starting point is exploring the various options offered by ACKO. Their team will guide you through your requirements, understand your specific needs, and assist you in selecting the ideal plan for your travels. As my experience attests, having travel insurance from ACKO ensures peace of mind and is the perfect companion for your journeys.

How much is travel insurance?

Travel insurance can vary greatly depending on how much coverage you’re getting and the cost of your trip. For an average person, travel insurance plans cost between 4 to 10% of the total trip cost. So, if you’re spending around 4 lakh rupees on a European tour, your insurance could be anywhere from 16,000 INR to 40,000 INR. (This info.is as per a CNBC news report.)

Of course, there are budget plans out there that could cost (and cover) less. You could also shell out for premium coverage to take advantage of a “cancel for any reason” policy. Whichever plan you choose, make sure you read the fine print so you understand what you’re paying for.

Choose the perfect insurance plan for your travels to enjoy worry-free adventures. Buy insurance early, understand your coverage, and be ready for emergencies. Look into reliable providers like ACKO for easy navigation through travel insurance. It's not just a precaution; it's a smart move to guarantee a fun-filled journey, not a stressful one. Also, let me remind you, travel insurance is mandatory in some countries.

If you are interested, you can read more on ACKO and understand.