Safe Travels With Proper Travel Insurance
If you have travelled before, you would be able to agree that there is nothing better than visiting new places, exploring amazing destinations, and experiencing the different cultures of the world. When you travel, you can leave the worries of daily life behind and can prepare for days filled with enjoyment and fun. While travelling to new locations has its own set of risks, proper travel insurance can help you face any untoward situation with ease. The best part about travel insurance is that it is available at very reasonable rates, which makes it accessible for everyone regardless of their budget. While the premium is one of the prime factors people should consider when choosing a policy, it should not be the only criteria; it is important to have adequate coverage as well.
Travel Insurance is Different for Different Travellers
Did you know that the premium you must pay for travel insurance is not a set amount for every type of traveller? There are several things that can affect the premium you pay for international travel insurance.
Here are the top factors that help decide the amount of premium you will have to pay:
Total Sum Assured
All international travel insurance policies have a maximum sum assured that can be paid out in claims or benefits. Different insurers offer various levels of coverage for the customer, which you can choose depending on the total cost of the trip and your budget. A higher sum assured will, of course, mean a higher premium. But the higher your sum assured is, the more will be the protection offered by the policy against potentially huge losses.
Pre-Existing Medical Conditions
When you buy travel insurance, insurers do not generally ask about your health conditions. Your medical history is not a determiner for the premium you must pay. However, if you have a pre-existing condition, your travel health insurance may or may not cover any situations arising because of the same.
When you opt for travel health insurance that offers coverage for pre-existing medical conditions, you can be sure that the premium will be higher. You will also have to ensure that you disclose the condition before you buy the policy. Upon disclosure, your insurer will ask you to provide a more detailed medical history, based on which the premium will be decided: -
The Age of the Insured
The age of the insured plays an important role in calculating the premium of the insurance policy. This is because older travellers are deemed to be more susceptible to health issues while travelling. Anticipating claims under the ‘travel health insurance’ part of the policy, insurers tend to increase the premium for older travellers.
Frequency of Travel
This is more about the type of travel insurance you choose. You can choose a policy that covers a single trip, or if you are a frequent traveller, you can choose a multi-trip policy which remains active for a set period of time regardless of the number of trips you take. A multi-trip policy will, of course, have a higher premium than a single trip policy.
Activities and Coverage
International travel insurance does not offer coverage for eventualities that may arise from partaking in high-risk adventure activities. In most cases, if you want this coverage, you will be required to buy an add-on cover for the extra premium. On the other hand, depending on the kind of trip you are planning, you can check the policy’s coverage and customise it accordingly. For example, if you have refundable flight tickets, you can opt for a policy without flight cancellation coverage; or if your regular health insurance covers international travel, you can opt for a policy without travel health insurance coverage, which would help reduce the premium.
Knowing about the factors that affect travel insurance premium can come in handy and help you save more when you travel.
If you are looking for a health insurance policy that offers you comprehensive coverage at the most affordable premiums, you should opt for international travel insurance by Care Travel Insurance (formerly Religare Travel Insurance) which is trusted by more than 5.38 lacs + customers and awarded as the claims leader of the year.