Travel insurance is an integral part of the modern-day list of travel requirements. The insurance not only covers for the person but also every essential and auxiliary element attached to the travel.
Hence, through the right choice of travel insurance firms, it becomes easy to manage a secure trip all the way. The best travel insurance company in India would assuredly take care of every safety and security aspect for the person or the group.
While the initial trend for travel insurance was cumbersome, it is now highly simplified through online procedure. Meanwhile, certain names are preferred by professional travel firms while others are suggested by individual users. Almost every major travel insurance provider has an online presence nowadays.
The final discretion is upon the utility of the insurance features for the concerned traveler. However, an understanding of some prominent names can make the task relatively easy. Not only is it important to have a careful selection but also the right understanding of the procedures involved.
Table of Contents
Factors to Understand for Choosing a Travel Insurance Plan
For choosing the right travel plan, a lot of variable factors need to be understood. Some of these depend upon the user choice and purpose of the trip, while others depend on the features of the individual provider. Hence, a careful assessment and thorough comparison can be highly helpful.
While choosing the best travel insurance company in India for individual use, some users can be reckless. This might cost them a significant extra fee due to overcharge and also lesser features on their plans. Moreover, certain aspects can be critical for the trip and still lack proper attention.
The important points and factors to reckon with while choosing the right travel insurance plan can be briefly summarized too.
Purpose of trip
If the trip is official or holiday, it does not include essential extra risks. However, if the trip is destined to be a tricky or adventurous one, the result can be different. Not many travel insurance plans cover such situations, hence it is suggestible to seek through carefully. Higher risks might incur higher costs too.
Length of trip
The lengthier the stay is, the higher will be the initial and variable prices involved. Some insurance service providers have fixed plans, while others tend to fluctuate with respect to the trip length. Charting the trip well in advance can prove to be useful for the individual as well as the service provider.
It is also important to highlight if the journey has single or multiple destinations. Due to the difference is region-wise plans, the prices are generally variable. Hence, the idea of charting and informing a clear travel plan and destination itinerary is important, ethically as well as technically.
Type of Service
Each trip is different and so is the plan related to it. For instance, the trip can involve students or a tour or senior-citizens on a holiday. It can be a solo traveler simply globetrotting or a couple on their honeymoon. It becomes necessary to consider the type of travel before finalizing the final plan.
When choosing for the best travel insurance company in India, never stop at a single glance. It is always important to weigh each option and also compare them with each other. This will fit each feature against the ones from the other plan and also give the right idea.
Age of Travelers
Another important aspect is to understand the age of the travelers and plan accordingly. Some plans are more favorable for the seniors while others for middle-aged people. Right selection and decision can be helpful to prevent future interventions or problems.
When comparing the same payment and installments, the final covering amount can be different. Hence, it is necessary to be aware of the final amount that a user is supposed to avail of. In case of an unfortunate occurrence, this can be of major importance and needs careful thinking.
Prior ailments for an applicant play a significant role in the decision of travel insurance. Each firm has its individual choice when covering the aspect, so users need to be careful and assess accordingly.
A modern-day travel routine involves more than just the usual health and physical aspects. With a large amount of luggage, precious items, dispensable goods, and precious ornaments involved, each item needs consideration.
The insurance cover for these items is fluctuating in nature so it is important to compare options. While doing so, the primary idea of traveler preservation should not be compromised either.
Certain important features pertaining to the various segments of the travel should be emphasized. A few items that need to be remembered are:
- Admission into hospitals without prior cash
- Flight and transit baggage policies
- Damage policy for luggage
- Criminal loss cover
- Missed flight or delayed journey cover
Comparison Table for Frontrunner Travel Insurance Providers
An explanatory display of some of the frontrunner options can assist the users in figuring out the pros and cons. These options also feature among the list of the best travel insurance company in India.
|Name of the Provider||Major Parts of Services||Missing Elements of the Services|
|Bajaj Allianz||Baggage loss claims are covered. Passport loss claims are covered. Theft loss coverage. Quick solution and settlement to claims.||No cover for any previous ailments STD’s is not included. Any adventurous activity injuries and losses are not covered.|
|Reliance||Quick admission into the hospital without cash. Fast solution for settlements. Security and terror attack are insured too.||STD’s are not included. No existing ailments are covered. No claims if the visit is not recommended by treating doctors.|
|Religare Insurance||Both the in-house as well as outside treatment costs are covered. Cover against cancellation of trips due to operational reasons. Services for evacuation and admitting on an urgent basis.||No coverage for any STD’s is provided. Any cases of abuse due to alcohol or drug overdose is not covered. Any external injuries due to self-harm or carelessness are not covered.|
|HDFC travel insurance||Cash withdrawal and availability for emergency issues. Cosmetic (dental) coverage also provided in the plan. Delayed or canceled trips are not covered.||Any criminal charges or expenses are uncovered. Certain specific medical travels are not covered as per the provider’s decision.|
Prime Contenders for the Best Travel Insurance Company in India
Some of the big names, including but not limited to the ones mentioned above can be commonly found. The providers vary each among their services and surcharges and it needs prior attention from consumers for sorting out.
With service across every major city and state across the country, Bajaj Allianz is one of the trusted options. The company has a well-established name in every department with Bajaj being the dominant force.
It was in 2001 when the license and authority to provide insurance services to the needy users were given to Bajaj Allianz. Since then, it has been one of the major names to be the best travel insurance company in India. The group provides a lot of major and discreet services:
- Travel insurance policy and facility for individual travelers
- Travel insurance policy and facility for group travelers or families
- Special travel insurance features for the senior citizen
- Insurance facilities for student and corporate travelers
The company includes a set of the traditional list of documents that are mandatorily required to be provided for insurance.
- Passport details
- Valid and authenticated copy of VISA
- Ticket proof and luggage proof details
- Additional ID proof for special cases (student, elderly, etc.)
- Proof of medical records/prior ailments
The company tends to every major and minor incident and losses that are covered within its documentation. The services include the coverage for:
- Lost or soiled passport during travel
- Loss of travel or other substantial documents during the trip
- Medical sickness or ailments occurring during the trip
- Baggage and other key elements getting lost or stolen
- Serious cases such as hijack or attacks
- Any incidents or accidents related to the flight or travel methods
For interested users, the services are completely present online and can be easily accessed. The documentation and payments too are taken care of through automated processing and it saves a lot of time and troubles.
HDFC ERGO Travel Insurance
One of the dominant forces in the field of travel insurance is the name of HDFC ERGO facilities. With the wide array of banking and service experience of ODFC and the insurance expertise of Munich firm ERGO, the combination is a dream one.
HDFC ERGO has been the revolutionary force and has come up with new ideas all throughout its existence. From being the first users of the online technology to the use of “easy insurance” HDFC ERGO has gone the distance for its users.
While each scheme is discreet, so are the advantages and covers within the scheme. The versatility and solidity make HDFC ERGO one of the main contenders for being the best travel insurance company in India.
- The team asks for the minimum set of documents prior to the commencement of the travel insurance process.
- One of the unique features provided by HDFC ERGO is a 24X7 claim process in any part of the world.
- Cashless transactions that can cover up to an amount of 5 to 8 lakhs.
- Day-wise payment facility to keep the trip flexible and the payment methods equally easy.
Some of the common insurance facilities provided by the group are:
- A single person or individual insurance facility: Can be availed by people from the age of 6 months to as much as 70 years old. The policy can be easily customized depending upon the destination with a cover between 50,000 to 500,000 USD. The insurance stays valid for trips as long as 6 months.
- Student Travel Insurance: The policy cover is between 50,000 to 500,000 USD and is valid for over 6 months. It can be availed by individuals up to 35 years old and with valid student ID proof.
- Family Insurance: Individual aspects such as baggage loss and much more are easily covered. The claim amount and the cover term remains the same as the previous schemes.
Reliance Travel insurance
With General Insurance under its larger scheme of things, Reliance is a stalwart of the travel insurance department. The fact that it is a multi-billion dollar establishment with a huge reputation from other services also plays an important part.
Reliance provides a host of additional features, such as the highest age limit for travel insurance. The claim settlements are quick and it also utilizes their wide international networking skills. The firm has an on-call feature for solutions to every query and 24-hour settlement scheme for any medical or other claims.
Most of the features under the Reliance travel insurance are online in the present day. No mandatory medical tests, quick access, and easy payment, the service is highly compatible for every prospective traveler.
- Easy claim and travel insurance facility for individuals up to 90 years of age
- Essential cover for a list of previously evident ailments, given they are declared and documented
- Travel insurance schemes that revolve around the nature and destination of travel
- No extra formalities on paper, prior to or during the trip
- Connectivity facilities through international sim and calling cards provided as a part of the package
The various insurance types and facilities that are commonly provided and availed under Reliance schemes are:
- Student travel insurance: Provided for international students who are looking for long educational trips. The scheme covers up to 2 years of total length with further easy extension features available.
- Location–Wise Travel Insurance: Features such as Schengen travel insurance, Asia travel insurance, and much more are provided. These help to customize the duration and the facilities, based on the travel destination and nature.
- Elderly Travel Insurance: For individuals up to 90 years of age, travel insurance is provided. The package does not need any previously conducted medical tests and only needs the proof of pre-existing ailments.
Religare Travel Insurance
Religare is one of the most prominent and well-established names when it comes to insurance as a whole. Among all its diverse services, the travel insurance facilities are highly customized and designed to cater to the users and their specific needs.
Among the plethora of services, flight delays, luggage miss, technical errors, severe attacks, and medical occurrences are covered. The firm does not need any processing time and all of the services are available online with easy access.
Direct hospitalization, clinical treatment, loss settlement, and many other aspects are covered. There are no prior processing fees levied by the company and the surcharges are minimum too. Among the various contenders for the best travel insurance company in India, Religare is one of the most experienced firms.
- Pre-existing health ailments of higher significance are all covered within the insurance
- Loss of documents and critical aspects such as passport etc. are all covered
- Easy settlement of claims through direct cashless transactions
- Settlement of claims arising due to accidental or other health causes on the trip
- Variable covering schemes for hospitalization and treatment in different parts of the world
- No restriction for the upper limit of age barrier for the traveling individuals
- The Asia travel insurance plan for every destination within the continent
- Schengen travel insurance schemes for the allied European countries
- The latest introduction of African travel insurance plan with various health and vaccine covers
- Special plans for students and also the elder citizens traveling abroad
IFFCO Tokio Travel Insurance
With a claim of having the highest rate of claim settlement and approval in the industry, IFFCO Tokio is a big name. The firm has always been an interesting one and holds the distinction of being among the first few to explore travel insurance.
With a wide range of schemes and auxiliary aspects covered, IFFCO Tokio is highly friendly for the clients. Most of their activities are conducted online and the firm also has a strong ground team for document and processing.
The group covers various travel modes and intentions including the group, solo, educational, medical, and other purposes. Moreover, IFFCO Tokio takes a lot of pride in keeping their services flexible for the interest of the variable client demands.
- The plan and the related premium installments are highly economical for all customers to avail
- The company claims to provide all-round assistance to its customers across the globe
- Each individual agent has one claim at a time policy to follow which makes it easier and more efficient
- The company takes quick care of most trivial issues such as personal accidents or any loss or harm to the baggage
- The firm also provides allowances such as daily hospital allowance and distress allowances under certain circumstances
- Individual cash and credit benefits for the pre-planned and secured users help them to avoid any trouble
- There is an option for single trip insurance as well as round or multi-trip insurance as per consumer needs
- Various individual plans are Gold, Silver, and Platinum travel insurance plans (payment fees differs)
- Special plans for domestic and local travels with lesser premiums
- No age barrier for individuals with a clear medical history and a simultaneous proof of it
Frequent Queries and Quick Answers
Q. Is it possible to compare the various travel insurance schemes through online tools?
A. Yes. Almost every major banking and third-party insurance sites have their own digital calculators. Some also provide a direct comparison for a few plans through tables.
Q. Can a person purchase an individual plan and then later change over to a group travel insurance plan?
A. Every company has its own set of rules and requirements when it comes to planning change flexibility. The final discretion for it is in the hands of the service provider.
Q. Who charges the lowest premiums among the various names for the best travel insurance company in India?
A. Almost every firm charges its own set of rates depending upon the scheme, duration, number of people, etc. IFFCO Tokio and Reliance are comparatively efficient in general, however other providers have better schemes too.
Q. Is it mandatory to have these plans for the purpose of visiting a foreign country?
A. Yes. Almost every carrier and the VISA authorities also need prior confirmation of travel insurance. Only then do they start with the ticket or VISA formalities.
Q. Do travel insurance plans cover for severe threats like hijacks or kidnapping etc.?
A. The criteria and the sector of coverage are already mentioned while availing the plan. Due to large insecurities and changing trends, these are mostly present in every plan as an integral aspect.
Through selective decision about the nature of the trip, destination, days of stay, and other factors it becomes easy to decide. While most companies are fair and square, some might have a few hidden costs and clauses. Hence, it is equally important to go through the length of the document in detail.
A few points that can be specially emphasized upon while availing these services for safe trips can be:
- Knowing the complete details of the policy and giving the document a read
- Consulting with people who have previously traveled about their experience with the firm
- Not expecting unrealistic benefits and being precise in the requirements
- No hidden agendas or facts while applying for the insurance as it might create future issues
- Having a brief idea if trip extension or cancellation is a possibility
- Deciding well in advance about the size of the plan you want to avail and pay accordingly
- Seek advice from help desks and also through online consultation for premium and fee calculations
Through this, it is completely safe to decide the right options for the best travel insurance company in India. Except for the names mentioned above, other firms such as Future Group, Cholamandalam, and Bharti AXA are also prevalent in the trends. A brief insight into their individual schemes can come in handy.