Travel smart with insured travel

Travel insurance is a safe haven for guarding against any financial loss which can be caused by conditions like accidents, illness, missed flights, canceled tours, emergency evacuation among multiple others. Quite commonly, travel insurance is a neglected term for many people. The common perception is that most of the travel insurance companies charge high prices considering the days a person is spending when he or she is travelling. When you come across a few fundamentals of choosing the right travel insurance package, you will find that travel insurance is not another formal legal document; rather, it covers many aspects of your travelling days and makes them secured and hassle-free. However, choosing the appropriate travel insurance package is not always an easy taskIn order to choose the right travel insuarance package so as to minimize your financial risks while traveling, paying heed to some fundamentals would be helpful.

Check out the covering area of your insurance policy

Medical expenses while travelling can be a tricky job; an Indian citizen in the USA can land in trouble in case he is not insured. If you are yet to get insured, you will have to bear high traveling expenses because of the difference in the rates of the respective currencies. Also, make sure to check the expenditure limits attached to your health insurance cover. If you are purchasing some cheap policies, you might end up paying from your own pocket, because the amount of the promised cover may be on a lower side.

Annual or single trip

Planning to take three holidays or more in the next year? Get yourself an annual policy and you'll almost certainly save some cash. Check the maximum number of days covered in a single trip, though — some policies will provide cover for 45 days, some for just 21. If you're going backpacking, we recommend choosing a specific backpacker's travel insurance policy

Check out the real value of your luggage before opting for a luggage cover

Imagine a film shooting crew travelling abroad for shooting. They will carry all those expensive equipments with them and this is where it is required from your side to pay an extra attention. Your insurance cover for your luggage should fetch the real value of your luggage, otherwise it is like a 'null & void' for you to have a cover over your luggage insurance. Keep your eyes and options open when you are searching for various insurance covers; try to go for a flexible scheme where they are keen on going part-by-part while discussing the deal with you.

The cancellation policy is yet another tricky area

When your travel plans are altered at the last minute due to some mishap, then many things can strike you at the same time. You need to spend extra bucks on a provisional place of stay; you are required to book your travelling arrangements all over again. Now, these few things can bother you majorly and cost you some financial losses. It is important for you to pick up an insurance cover wisely if you wish to secure yourself from these conditions. Have an insurance cover and have it to safeguard your interests. It should not be yet another travel formality like a visa or a passport. It should be treated as a long-term contract between the two parties, because if something goes wrong, then the matter of dispute settlement can take a long time.

Research before you ride

Do not just go for travel insurance as many tourist agents promote it; go for a prudent choice instead. The right travel agent can help you select the best insurance cover choice in accordance with the places that you are planning to visit. It is important to check out this list with great caution. Suppose, you are out for multiple country trips, then this type of an observation can secure your interests well and serve the real purpose of the insurance policy well.

The writer is co-founder and chief experience officer, CurrencyKart.