Why, Where and How to buy Travel Insurance?

While buying Travel Insurance, some of the key questions come in mind such as “Why should I buy Health Insurance?” “How and Where to buy Travel Insurance?”. This topic covers the answers of these above-mentioned questions. Just have a look below:
 
Where and how to buy Travel Insurance?

Process of buying Travel Insurance is hassle-free now-a-days. It can be purchased same as other insurance policies. A person can visit trusted insurance broker directly to its office or can browse online.

Today everything depends on internet, so getting online insurance is also very easy. Customer can get policy easily at competitive rates from top insurers and get best-suit premium plan in just few clicks.

Why to buy Travel Insurance Online?

1)  Instant Booking

If customers go to a broker’s office, it can be clumsy, time consuming and complex process. Buying travel insurance online is stress-free and fast procedure. Online process is also error-free as software develops for online insurance has been processed under all types of testing. 

2)  Comparison of premiums :

While visiting online, customer can easily compare the policy plan from various insurers and can get best-suit insurance online with quickest process.

3)  Hassle Free Online Registration:

Online process is quick; searching for any information can be available in few seconds. While, going to an insurer office and doing all process manually is again very time-consuming. Register yourself online on an insurance website and filling a simple form is fast and easy process. With swift services, end-to-end assistance, 24X7 customer support and more facilities, customer can find a best-suit policy.

4)  Flexible Payment Options

Online payment option is completely secured. Buyer can make payment procedure easily. The person can use own credit or debit card or make payment through online/net banking. Buyers can also use EMI option for their convenience.

Trip journey with your family or friends covered by Travel Insurance will definitely be enjoyable and risk-free. Click to know the list of IRDA approved trusted brokers.

How to Get Best-Suit Travel Insurance Plan?

When a person plans for a trip to another city or country, he/she hopes that everything will be fine. But sometimes, unwanted circumstances such as theft, loss of baggage or some health emergencies may cause major problems. Customers can safeguard themselves from these problems by opting best-suit travel insurance plan.

1)  Research for insurance plan before buying

Before buying travel insurance, it is advisable to research in advance. Now, types of travel insurance, premium plan, best-suit insurer and other information are easily available on internet. One should know all the factors, so that he/she can easily judge for their best plan. Travel insurance plan includes annual multi-trip insurance, senior citizen travel, international travel etc.

While selecting plan, customer can compare benefits offered by various insurers. They can even get a competitive quote from various insurance companies as most of the portals provide this service. Customers can also call to the customer support for any enquiry or for any special offers by company.

2)  Customer should consider more on Travel Insurance coverage benefits than the policy price 

If the customers look on the money factor, the policy in that price may not cover the benefits they are looking for. Customer should first view the plan, the coverage and should decide accordingly.

It is advisable to select a policy, which covers:

a)  Loss of baggage

Baggage includes electronics gadgets, jewellery or valuable carry, sometimes causes the major loss in case of misplaced. Travel insurance covers these all. Some insurers also cover loss of passport and provide duplicate one and related expenses that are incurred.

b) Medical Emergencies Coverage

If any emergency causes while travelling, Travel Insurer give coverage for that.

c) Trip Cancellation Coverage

In case, if the customer wants to cancel travel ticket, airline can often charge some cancellation fee or non-refunds. Travel insurance plays great role in providing booking fee.

d) Interruption Coverage

Interruption such as whether related setbacks and delay in flight is also covered under the policy.

3) Check, what is not covered in Travel Insurance Policy

Policy plan from various insurers is different. They have different type of coverage. So it is advisable that customer should read the document carefully and make sure all terms and conditions are set in it.

4) Make clear the terms with the claim settlement process

If a customer knows each point of coverage, he/she can make use in emergency smartly. One should also follow the deadline of renew the policy in order to get benefits.

Check all the factors while buying travel insurance policy and enjoy safe and tension-free journey.

Get IRDA Booklet for Travel Insurance

List of General Insurance Companies in India

General Insurance Company

List of Non-Life Insurance Companies in India

1. Agriculture Insurance Co. of India Ltd.
2. Apollo Munich Health Insurance Co. Ltd.
3. Bajaj Allianz General Insurance Co. Ltd.
4. Bharti Axa General Insurance Co. Ltd.
5. Cholamandalam MS General Insurance Co. Ltd.
6. Cigna TTK Health Insurance Co. Ltd.
7. Export Credit Guarantee Corporation of India Ltd.
8. Future Generali India Insurance Co. Ltd.
9. HDFC ERGO General Insurance Co. Ltd.
10. ICICI Lombard General Insurance Co. Ltd.
11. IFFCO Tokio General Insurance Co. Ltd.
12. L&T General Insurance Co. Ltd.
13. Liberty Videocon General Insurance Co. Ltd.
14. Magma HDI General Insurance Co. Ltd.
15. Max Bupa Health Insurance Co. Ltd.
16. National Insurance Co. Ltd.
17. The New India Assurance Co. Ltd.
18. The Oriental Insurance Co. Ltd.
19. Raheja QBE General Insurance Co. Ltd.
20. Reliance General Insurance Co. Ltd.
21. Religare Health Insurance Co. Ltd.
22. Royal Sundaram Alliance Insurance Co. Ltd.
23. SBI General Insurance Co. Ltd.
24. Shriram General Insurance Co. Ltd.
25. Star Health and Allied Insurance Co. Ltd.
26. Tata AIG General Insurance Co. Ltd.
27. United India Insurance Co. Ltd.
28. Universal Sompo General Insurance Co. Ltd.
29. Kotak Mahindra General Insurance Co. Ltd.

Factors Determine the Cost of Health Insurance

Insuring yourself to secure health through Health Insurance is the best way for everyone. Each person should know how health insurance cost is calculated. 

Mainly two categories are considered under Health Insurance 1) Individual Health Insurance 2) Group Health Insurance.

Individual Health Insurance is based on individual‘s health and lifestyle. This is assured between the buyer and the insurer. Some insurers give this type of insurance for buyer and its family.

Group Health Insurance is insured by the employer and employees group selected by human resource department of the employer. Health factors of the whole group are calculated under this policy.

The major factors, which determine the cost of the health insurance:

1) Person’s Insurability

Under Group Health Insurance, health factor of the whole group is taken into consideration in order to determine the cost.  While under Individual Health Insurance, the cost of insurance is evaluated on the basis of the person and his/her family. For this, an application form is filled out to cover the plan including some questions regarding health concern.

Under individual health insurance policy, some insurer may deny insuring the person who has pre-existing health problems.

2) Person’s Health Condition

If a person is getting covered under Health Insurance, company inquire and dig ups health history of the person. Laboratory test, urine, blood sampling etc. has been done under this process. In case, if the diseases such as Blood Pressure, Cancer, Heart Disease or any other major cause found, it will affect the premium plan of the insurance policy.

If a person is inspected using tobacco, smoke, drink, he/she will pay an additional cost based on their habit of using these products.

Generally maternity is not covered under individual health insurance. If a person wants this plan, it will also cover complication of pregnancy and many other issues.

3) Choice of Insurance Plan

Coverage also depends on the choice of plan. This will affect the premium cost. The plan is summed up by the term “Out of the Pocket Maximum”. This depends on the maximum money; a person would pay for co-payments and deductions.

4) Location of the Person

Location where the person lives such as country, city, zip code etc. will be used to determine the premium cost. In general, urban places are more expensive than rural places.

5) Age and Gender

Premium cost also varies from age-to-age. The older the age, the more premium will cost for the health of the person. The reason behind is as a person gets older, more health problems occur, in results of more visit to the doctor.

Also, premium cost also varies from gender-to-gender. Men of the same age of Women have lower premium cost. It is considerable from the facts that women are more likely to go to the doctor than men at the younger age.

When a person understands these factors in determining premium cost of health insurance, it will easier to find the best-suit plan as per person’s choice.

Get more information on Health Insurance here

How Health Insurance is Different from Other Insurances?

Health Insurance provides coverage for medical and surgical expenses incurred from sickness, disease, injury or pays to the care provider. The insurance covers total coverage related to health such as Pre-hospitalization, Post-hospitalization, In Patient hospitalization, Day Care Treatments, Room charge, ICU charges, Health Check-up, Ambulance Cover, Domiciliary hospitalization, Organ Donor cover and more. This insurance is different from all other insurances such as home insurance, fire insurance, theft insurance, travel insurance.

“How health insurance is different from other insurances?” This topic covers the information for this question. Mainly two parties are involved in other insurances such as:

1)  Insurer

Insurer is the one who provides insurance. Generally, insurance company comes in this category.

2)   Insured

Insured, who is covered under certain risk policy example: life, health, travel insurance etc.

Third Party in Health Insurance

While in Health Insurance, there is one more party “The Healthcare Provider”. The provider decides and provides the clearances for medical benefits and expenses claimed by insured to the insurer. In the absence of provider insured losses all benefits. The Healthcare Provider evidences:

• Which type of the health services is used by policy holder or insured?
• How long the medical services are used?
• How much the cost is covered in using medical services?

Let’s discuss Third Party role in Health Insurance by an example:

A person named Sunil met with an accident while going to another place via car and had serious injuries. Sunil was hospitalized for eight days in a XYZ hospital.

He was not worried for paying heavy medical expenses to the hospital at the time of discharge. The reason behind is health insurance. Sunil has covered with health insurance policy earlier.

When he claimed his expenses to the insurer, they (insurer) said Sunil that it will take some time to get processed Sunil’s claim. The reason is that they will inquire the details from Sunil’s healthcare provider (XYZ hospital).

The XYZ in this case is the third party other than Sunil (insured) and insurance company (insurer). Third party i.e. XYZ will provide all the details to the insurer about the services used by Sunil, Duration and Cost of the services. This evidences become the basis for the insurer to clear the claim filed by Sunil.

Want to know more information, click Health Insurance Policy

How Does Car Insurance Keep Safe During Heavy Rain or Flood?

If a person, living in a city where heavy rain or flood causes major loss, or there is always a chance of flood. People and their vehicle majorly suffer from this. Flood can damage a car, its engine or electrical system. These losses make car-insurance a must-have factor for everyone.

Get Coverage from Car Insurance

Comprehensive insurance policy covers harms or damages caused due to natural disasters such as cyclones, frost, floods, earthquake, tempest, storm, whirlwind etc.

Majorly engine and accessories damages happened by flood. A car’s engine may have damaged partially or completely. Replacing damaged engine costs a big expense. Covering this loss through Car Insurance is one of the best solutions. One should make sure the damage coverage due to flood is included in the plan as most of the insurers do not provide this coverage.

Add-ons to the car insurance policy

 Investing a small amount with more coverage option is more fruitful. Let’s have a look below the benefits of add-ons in car insurance:

 1)  Quick Roadside Assistance

Sometimes, driving a car in a flood affected area and getting stuck due to engine damage or other problems create aching experience. Roadside assistance services give comfort zone of repairing on-road damages, lugging the car to the nearest garage etc.

2)  Zero Depreciation

Opting for this ad-on, gives complete coverage of any type of damage occurred without considering depreciation as a factor.

3)  Engine Guard and Electronic Circuit Coverage

While parking car in water-affected area, may cause engine or circuit damage. This add-on can protect from such situation.

Safety Tips to Follow

Some safety tips, which every car owner keeps in mind while driving:

1)  If trapped in water, do not start car’s engine even after the water removes. In such case, disconnect the battery and tow the car to a nearest workshop.

2) If water comes into inner part, do not switch on the start. It may cause short circuit in the electronic circuit and may cause major loss to the person and vehicle.

3)  Check car brakes after exiting the water-logged area.

4)  Keep tools such as hammer in order to break window glasses of the car, if door locks gets blocked due to water.

Also read

IRDA - You and Your Motor Insurance Policy: FAQs

Know Benefits of Motor Insurance – Car/Two Wheeler

Motor Insurance is a must-have factor for all. It can protect hard earned money spent on vehicle in case of theft/damage or loss due to any unwanted circumstances. Though it is considered taking motor insurance as an additional cost on your wallet, but it protects financially from major damages or losses incurred in case of vehicle.



One should take truthful facts of the chosen plan to get more out of it. So that he/she can easily get the best-suit motor insurance policy by comparing premium plans offered by various insurer companies online.

Basically, Motor Insurance is available in two types 1) Comprehensive and 2) Third Party Liability plan.

Third Party Liability plan offers the coverage to the third party only against any accident caused by owner’s vehicle. This insurance policy does not cover for any damage or loss of the vehicle. However, it also offers coverage on PA (Personal Accident) to the owner or driver. As per the Motor Insurance Act, it is mandatory to have this insurance policy.

Comprehensive Plan also covers the damage/loss incurred on the vehicle. So in India, it is advisable to buy the comprehensive cover in order to get complete protection.

Here are some benefits every policy buyer must know while purchasing Motor Insurance:

Covered risk

Motor insurance covers your vehicle against damage or loss from unwanted natural disasters such as earthquake, flood, frost, cyclone, storm, land/rock slide etc. This insurance plan also covers risk from man-made disasters such as theft, burglary, malicious act, accident, fire and more.

Insured value

In Motor Insurance, Car/Two Wheeler is insured for a value called IDV or Insured Declared Value in policy terms. The IDV is based on the brand manufacturer’s price of the vehicle minus depreciation as per the vehicle age. This IDV gives an estimate to the Insurance owner to cover from vehicle damage in terms of financial protection.

Premium of the vehicle will include the factors such as type of the vehicle, where owner stays, age, claim experience etc.

Premium saving options

One largest benefit to save premium on Motor Insurance is NCB (No Claim Bonus). Under this benefit, insurance owner get a discount on premium for a claim-less year.

This NCB benefit will increase by the year and it can go high up to 50%. This advantage is given after a year, so it is better for insurance owner to avoid small claims, which have negligible financial effects. Owner can use this bonus for paying the premium or can adjust the same at the time of new purchases.

Note: One should be careful for this bonus as if the policy lapses and policy holder don’t renew it within 90 days, it will not be considered as beneficiary.

Portability 

If policy holder wants to change the insurance company, he/she can do without losing the benefit of NCB claim for which the policy holder is entitled.

Add-ons

Policy holder can get surplus benefits by adding add-ons against risks which are not covered under normal policy plan such as Zero Depreciation, No Claim Bonus protection, Accidental Hospitalisation and more.

Points to note

In digital marketing era, lots of IRDA approved insurance service brokers offer facility to compare premium plan among insurers online. Customers can browse direct to get best-suit premium plan from these insurance and get covered in a few clicks without any hassle.

If you want to know more about Motor Insurance, click IRDA FAQ Motor Insurance.