Cost-Effective Travel Insurance Plans for Your Next Vacation

Nothing truly compares to the pure ecstasy that fills you up when you think about going on vacation. You get to relish in some scrumptious delicacies local to the places you’re travelling to and spend some much-deserved quality time with friends and family. And of course, you also have the opportunity to unleash your wild side and take the plunge, quite literally! Adventure activities are the perfect way to get some happy hormones flowing in your system and add some spice to a usually uneventful 9 to 5 life! 

And if you’re someone that waits and meticulously schedules to-dos for each getaway, pre-planning leaves to travel, then it is all the merrier! Now that we’re talking about travel, one very important thing that most people forget to pack before leaving is travel insurance! You see, while globe-trotting is certainly gratifying to the body and the soul on so many levels, it might, after all, come as a package deal, with a variety of risks and mishaps waiting to happen. So, before leaving for a memorable and eventful vacation, be sure to read this blog. 

Types of Travel Insurance Plans

1. Individual Travel Insurance  

This type of insurance scheme is ideal when you’re going for solo trips/ travelling alone. Plans like these mostly cover unforeseen circumstances such as missed flights, lost luggage, theft of your possessions, and much more. The Bajaj individual travel insurance scheme offers coverage for unforeseen mishaps like loss of passport, baggage loss/theft, medical emergencies, trip cancellations, etc.  

2. Family Travel Insurance

When you’re travelling with your family, the last thing that you want is the abovementioned incidents to ruin your vacation. Thus, you can handle such risks like a pro by always being one step ahead of them.  Just go for a comprehensive family travel insurance package beforehand. Under such schemes, all your loved ones going on the trip will be covered and entitled to reap benefits.  

3. Student Travel Insurance  

Are you considering travelling abroad for a short-term academic course this winter? Or maybe you’re a parent whose child wants to experience the same. Then, student travel insurance schemes are something you must purchase before leaving. They offer exhaustive coverage tailormade to suit solo-travelling students, for the entirety of their course duration.  

Incidents Covered Under Travel Insurance Schemes

In most cases, the following incidents are covered by the insurance scheme, with the specifics varying with what plan you hence purchase:  

• Hospitalisation 
• Losing your check in luggage 
• Personal accidents 
• Loss of passport 
• Medical expenses or evacuation charges 
• Accidental death and repatriation 
• Hijacks 
• Trip cancellation/delays 
• Personal liabilities incurred 
• Home robbery 

The Cost of Travel Insurance Depends on:

It can be said that all travel insurance plans are not made equal. Multiple factors impact the amount of premium that you’ll have to pay and the benefits that you can expect to reap. Some determinants include: 

• Age and health: Young people generally have to pay lower premiums when compared with senior citizens or those suffering from severe ailments.  
• Geographic location: If you’re visiting places that are prone to natural disasters like floods, earthquakes, etc., then you’ll be charged more. Also, when you travel to countries where healthcare and other services are expensive, then you’ll most likely be charged more as well.  
• The number of people travelling: It goes without saying that the more people you want to insure, the more your package plan premium is going to cost.  
• Trip duration: When the duration of your vacation increases, the premium rates increase.  
• Add-ons: Travel insurance plans generally don’t cover accidents incurred by participating in adventure sports like scuba diving, paragliding, etc. If you’re a thrill seeker who doesn’t want to compromise on such experiences, then you can purchase an add-on for getting adventure sports coverage as well.  

So, which travel insurance category are you going to pick for your upcoming vacation? Let us know in the comments! And wait, don’t forget to pick and choose your ideal travel insurance plan from the vast selection of schemes available at exclusively affordable premiums, only on Bajaj Markets!