Traveling is a gratifying activity, but situations beyond our control, such as cancelled flights, lost luggage, medical emergencies, or even an incomplete trip, can potentially cause a financial burden. As the name implies, travel insurance helps everyone financially in case anything goes awful during a trip. There are various travel insurance providers, each with their pros and cons, which makes it perplexing. In this article we will, therefore, put some focus towards a few of the most reputable travel insurance providers in India.
Types of Travel Insurance
There are a number of travel insurance types available in India:
- Domestic Travel Insurance: Commonly referred to as health insurance, this cover is applicable for medical emergencies, trip cancellations, and lost baggage in India.
- International Travel Insurance: This cover is crucial for business and leisure travelers and includes medical expense, passport loss, trip delay, and evacuation emergencies.
- Student Travel Insurance: This is geared towards students who are traveling abroad for educational purposes and it covers medical emergencies, study interruption, and traveling issues.
- Senior Citizen Travel Insurance: To better accommodate older travelers, this insurance guarantees assistance with medic, hospital treatment, and general healthcare during their trips.
- Corporate Travel Insurance: This type of insurance if provided by corporate firms to employees. The travel insurance covers medic treatment, loss of luggage, and can also accommodate trip cancellations.
Best Travel Insurance Companies in India
Below are some of the top travel insurance providers in India:
| Insurance Company | Coverage Options | Claim Settlement Ratio | Key Features |
| Bajaj Allianz | Domestic & International | 98% | Medical Cover, Trip Cancellation, Baggage Loss |
| IFFCO Tokio | Domestic & International | 79.19% | Personal Accident Cover, 24×7 Helpline |
| SBI General | Domestic, International & Student | 95% | Emergency Medical Expenses, Lost Passport Cover |
| Reliance General | Domestic & International | 94% | 7 Add-ons, Quick Claim Settlement |
| ICICI Lombard | Domestic, International & Corporate | 96% | Emergency Cash Advance, Travel Assistance |
| Digit Insurance | Domestic & International | 75% | Trip Delay Compensation, Easy Online Process |
| Tata AIG | Domestic, International & Senior Citizen | 97% | 13 Add-ons, Cashless Hospitalization |
Insights About The 7 Leading Travel Insurance Companies in India
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- Bajaj Allianz Travel Insurance
One of the most reputed travel insurance service providers in India, Bajaj Allianz is known for trip cancellation, baggage loss, and medical emergencies. Their plans may be bought on both international and domestic travel. The company boasts a fast claim settlement ratio which helps ensure the claimants’ funds are delivered safely and swiftly.
- IFFCO Tokio Travel Insurance
IFFCO Tokio travel insurance provides accident coverage for protected individuals along with 24×7 customer care features. Difficulties in trips, passport loss or in some cases, even medical expenses are taken care of by the insurers. The company is well known for its fast response to emergencies.
- SBI General Travel Insurance
There are numerous travel insurace policies available such as student travel insurance and international travel insurance. Emergency hospitalization, loss of passport, and trip interruption are all covered. SBI General is a well-known insurance provider in the country with a claim settlement ratio of 95%.
- Reliance General Travel Insurance
Reliance General offers diverse travel insurance packages at cost-effective prices provided that a client can purchase seven add-ons. Claim settlements are also very efficient, allowing for greater customer satisfaction. Reliance General also provides insurance for trip cancellations, emergency evacuations, and loss of baggage.
- ICICI Lombard Travel Insurance
ICICI Lombard is a market participant offering travel insurance policies for domestic, international, and corporate trips. Their policies include emergency medical expenses, travel assistance, and emergency funds for unforeseen events.
- Digit Travel Insurance
People seem to like Digit Insurance because they can process claims online. Their travel insurance product covers trip interruptions, cancelled flights, and urgent medical treatment. It only takes a few minutes to purchase and file an insurance claim through the company’s website.
- Tata AIG Travel Insurance
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The company has comprehensive travel insurance policies that cover over cashless treatment and 13 other additional features. Tata AIG customizes plans for senior customers, international travelers, and those using domestic flights. They are one of the most dependable companies considering their higher claim settlement ratio.
What Should You Consider While Buying Travel Insurance?
For first-time purchases of travel insurance, it is most likely the case that these factors should be taken into consideration:
- Coverage Benefits: Baggage losses, medical problems, trip cancellations, and other vital elements. It is most recommended that one double-checks if their plan covers these.
- Claim Settlement Ratio: This ratio indicates how fast and hassle-free settling the claim becomes. Always select a company with a high score.
- Emergency Assistance: It is safe to go with a policy that allows for 24×7 contact and assistance from anywhere in the world.
- Add-on Covers: Additional options like compensation for trip delays, adventure sports activities, cash advances in emergencies are offered by many companies.
Which Travel Insurance is Best For You:
- Domestic travel insurance – this is the most ideal for those traveling within the boundaries of India.
- Those traveling abroad must purchase international travel insurance so that their medical illness and other such situations can be dealt with seamlessly.
- Travel student insurance – this is best for students studying overseas for covering health and studying expenses.
- Cashless hospitalization and extensive medical coverage for senior citizens are essential aspects of plans.
How to Buy Travel Insurance Online?
Purchasing travel insurance has never been easier. You can buy it directly online with just a few clicks.
- Go to the travel insurance provider’s site.
- Fill in the fields about your travel, that consists of the trip location and length.
- Check the offered options and choose the most suitable one.
- Pay online and get your insurance documents sent to you by email within minutes.
