How to Calculate Online Travel Insurance Premium?
Now, you can easily calculate the online travel insurance premium with the help of the premium calculator available on our website. It gives you a precise estimate of the premium to be paid to avail of travel coverage. With the below steps, you can estimate the right insurance premium and plan your travel budget accordingly:
- Enter your mobile number.
- Enter your email id.
- Your first name and last name.
- Select the country.
- Get a quote.
While using the travel insurance premium calculator, you can customise the policy. The premium amount will vary based on different factors.
While buying travel insurance online, you may encounter technical terms that may confuse you and distract your purpose of securing your trip. Below are a few terms you should know while buying travel insurance:
- Cashless Settlement: If you are eligible for cashless claim settlement, your insurance company shall directly pay for your losses to the third party. Travel insurance providers generally provide cashless settlement benefits in emergencies such as hospitalisation.
- Reimbursement: Under the reimbursement benefit, the insured member has to pay for the expenses first and can claim for the expenses later using the receipts.
- Sum Insured: The maximum amount the insurance company will pay during your trip is the sum insured by the travel insurance plan.
- Deductible: Deductible is a portion of your claim you must pay while the insurance company pays the rest.
- Sub-limit: Sublimit is a limited amount your travel insurance will pay for a claim. Claims incurred above the sub-limit shall be paid from the insured member’s pocket.
- Medical Evacuation: The arrangements made to port the patient to the hospital or the home country are known as Medical Evacuation.
- Annual travel insurance: Travel insurance designed for individuals who take multiple trips in a year is known as Multi-trip or Annual travel insurance.
- Missed Connection: Missed connection is used when you miss your connecting flight during an international trip. Under travel insurance, you get covered for a missed connection if you miss your connecting flight due to covered reasons.
- Personal Liability: Personal liability is usually incurred when you accidentally hurt or harm a third party. Your travel insurance shall cover your expenses for personal liability if it is caused unintentionally and does not include a breach of law.
- Co-payment: Co-payment is a travel insurance of benefit under which the insured member has to pay a certain percentage of each claim.
- Common Carrier: A commercial means of transportation that transports people and goods from one place to another. In travel insurance, aircraft are usually referred to as common carriers.
- Equipment Failure: Equipment failure is a condition when a piece of equipment does not function as intended. In travel insurance, equipment failure represents a failure of a part of aircraft.
- Free look-up period: Free look-up period in insurance is when you can read all the policy documents carefully and may cancel the policy if you do not find the plan’s coverage and benefits useful. A free look-up period in travel insurance can be utilised only before the trip start date. If you purchase travel insurance at the last minute, you may not avail of the free look-up period benefit.
- Immediate Family Member: Blood relatives and spouses are usually called immediate family members. Your immediate family members include your siblings, parents, children and spouse.
- Insured Journey: Insured journey is a term that refers to a trip that has been covered with a travel insurance plan.
- Insured Person: A person who can avail benefits of an insurance plan is known as an insured person.
- Medical Expenses: Expenses incurred while getting treatment at a hospital are medical expenses.
- Pre-existing Condition: Pre-existing condition in insurance is used to refer to illnesses that have been prevailing with the patient before the purchase of insurance.
- Travelling Companion: The person travelling with you on a journey is known as your travelling companion. Your travel companion may/ may not be your immediate family member.
- Inpatient Care: Healthcare facilities provided to patients within the hospital premises are categorised under In-patient care.
- Inclement Weather: Severe wet and cold weather is known as Inclement weather.
- Insured Periods: Insured period is the time period that is covered by insurance. For instance, if you purchase travel insurance effective from today to the next six days. The seven days in which the policy is effective is the insured period.
- Foreseeable Event: Any event that can be predicted or is known to happen is foreseeable. Travel insurance usually does not cover expenses incurred due to foreseeable events.
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