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Travel insurance is your safety net, protecting your health, finances, and peace of mind, whether you are travelling for fun or business. To choose travel insurance by health, age, trip type, destination, trip duration and compare plans for specific medical coverage and check policy exclusions and claims service before buying.
By the end of this guide, you’ll clearly understand how to choose a travel insurance plan based on these key factors before your next trip.
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Steps to Select a Travel Insurance Plan According to Age, Health and Travel Purpose
When you are buying travel health insurance plan, your first priority should be to get health coverage as per your age. Then you can optimise as per your trip type. Here is a detailed understanding.
Health Factor
- Medical care can be very expensive, especially in countries like the USA. Hence, when travelling to European countries, it is best to choose a sum insured amount of $100,000 or $250,000.
- You should also check for your insurer’s policy for PED and other features, such as emergency evacuation and availability of network hospitals at your destination.
Age Consideration
- If you are a young individual and feel healthy, you can opt for a $50,000 sum insured for travel within Southeast Asia. However, make sure to buy it from a reputable insurer.
- Senior citizens above the age of 60 should opt for a senior citizen travel insurance policy. These policies offer comprehensive medical coverage and flexibility in additional emergency stay or trip extensions, and more.
How to Choose Travel Insurance Based on Trip Types?
Different types of trips pose different kinds of risks for the insurer. Let us know about the requirements for travel insurance by trip type.
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Single-Trip Travel Insurance
Choose single-trip travel insurance if you travel rarely, prefer a budget-friendly plan, plan trips in advance, and need customised coverage for one specific itinerary, such as a holiday, leisure, or occasional business trip.
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Multi-trip Travel Insurance
Choose multi-trip travel insurance if you travel frequently, want year-round protection, need coverage for sudden business or leisure trips, prefer convenience over repeated purchases, and seek a cost-effective option for multiple short journeys.
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International Vacation Trips
If you are planning an international vacation, opt for a travel insurance policy that offers comprehensive coverage. Ensure it includes protection against medical emergencies, trip delays or cancellations, loss of passport or baggage, and missed flights. This helps you handle unexpected expenses or disruptions abroad without stress.
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Business Trips
For business travel, your insurance needs are slightly different. Choose a policy that covers essential gadgets like laptops under Gadget protection, along with benefits for delayed or missed flights. It’s also important to have general health coverage to manage any sudden medical issues during your trip.
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Adventure or Sports Trip
Adventure trips involve higher risks, so select a travel insurance plan with robust coverage. Look for high accidental and medical protection, emergency evacuation benefits, and coverage for injuries or equipment damage. Consider adding adventure sports add-ons and ensure the policy covers loss of baggage and personal belongings.
The Bottom Line
Knowing how to choose travel insurance becomes simple when you consider three key factors: your health, your age, and the type of trip you are taking. Once you know your insurance requirements after considering these factors, you can choose a trustworthy and affordable insurer to finally buy your travel insurance policy from. Make sure you always read the policy wording carefully and understand its terms before purchasing the policy.
Frequently Asked Questions
1. Which travel insurance is best for senior citizens?
Insurance plans that include pre-existing disease coverage, high medical limits, emergency repatriation and low or no co-pay are ideal for senior citizen travellers.
2. Do I need travel insurance for domestic trips?
Travel insurance for domestic trips is not mandatory. However, buying one offers safety from unforeseen threats like theft, loss of baggage, etc. Moreover, domestic travel insurance is especially required if travelling to remote areas or carrying expensive gadgets.
3. Does travel insurance cover adventure sports?
Yes, insurance companies cover adventure sports as part of a travel insurance policy. However, you can get this coverage as an add-on, as it is not a part of the basic plan.
4. Is travel insurance mandatory for Schengen countries?
Yes, travel insurance is mandatory for Schengen countries. To get a Schengen visa, your travel insurance plan must fulfil its coverage requirements too. This includes a medical coverage of €30,000.
5. Can I get insurance coverage for pre-existing diseases?
Many insurers provide pre-existing diseases as an add-on or with specific conditions. You can get this coverage for an additional cost. However, you must check the policy wording carefully to understand the conditions of coverage.
