Trip insurance company in India. Travel insurance provides comprehensive coverage against the unexpected that you encounter while traveling. India these eventualities result in a financial loss against which a travel insurance plan provides compensation. As such, many people prefer to secure their trips with travel insurance when they travel. Considering the advantages offered by travel insurance, there are many travel insurance companies in India which offer different types of travel insurance plans. Among dozens of travel insurance companies in India, selecting the best is always a difficult task. This is why here is a list of the top 10 travel insurance companies. You can choose the best travel insurance plans from these companies below.
What is Life Insurance Policy?
A life insurance policy is an agreement between an insurance company and a policyholder that provides financial coverage under which the insurance company guarantees to pay a certain amount to the named beneficiary in the unfortunate event of the death of the insured person during the life of the life insurance plans. In exchange, the policyholder agrees to pay a predefined sum of money as a premium either regularly or in the form of a single premium. If covered by the policy, coverage will also be offered for critical illnesses.
Since it offers improved insurance coverage, it attracts an improved insurance premium.
Top Travel Insurance Companies in India
Universal Sompo General Insurance Company Limited
Universal Sompo offers two types of travel insurance policies. One is the travel plan for covering overseas travel while the other is a domestic travel insurance policy. Moreover, student travel insurance policies are also allowed by the company for students going abroad for pursuing higher studies. The international travel plan covers all the basic features and also provides coverage for hijack distress allowance, missed flight connections, burglary of home contents, compassionate visits, etc. Sum insured up to USD 500, 000 is offered and the premiums are affordable.
Bajaj Allianz General Insurance Company Limited
Bajaj Allianz is one of the most reputed names in the insurance industry, both life, and general. Its travel insurance plans come in all possible variants. You can buy a plan for self, family, senior citizens or students. Moreover, corporate travel insurance plans, domestic travel policy and a policy for Asia trips are also offered by the company. The Travel Ezee feature of the plans allows the company to keep the customers informed about any flight delays and eligibility for making a claim. Thus, the company allows a variety of travel plans with various value-added services and is one of the best travel insurance companies in India.
Tata AIG General Insurance Company Limited
TATA AIG provides four types of travel insurance policies covering international trips, Asian trips, domestic trips and trips taken for higher studies. The company has a good tie-up with international service providers ensuring a quick settlement of your travel insurance claims.
Reliance General Insurance Company Limited. Travel Insurance Company in India
Reliance’s travel insurance policies are varied. You can buy both single and annual multi-trip policies for international travel whether it is Asia, Schengen countries or other countries. The policies are issued instantly without medical check-ups and minimal documentation. Moreover, you can also claim cashless hospitalization worldwide.
HDFC ERGO General Insurance Company Limited
HDF Ergo issues travel insurance policies covering every country of the world. Claim settlement is easy through a dedicated 24*7 helpline assistance provided by the company. Moreover, the company has been rated AAAA by ICRA which denotes the high claim paying ability of the company.
Apollo Munich Health Insurance Company Limited
Apollo Munich is a standalone health insurance company that also offers travel insurance plans. Its Easy Travel Policy is issued in different variants covering individual, family, senior citizens and also as an annual multi-trip plan. A student travel plan is also offered by the company with exhaustive coverage features.
Cholamandalam MS General Insurance Company Limited
Chola MS also offers different types of travel insurance plans covering overseas travel, domestic travel, and student travel. The company does not require medical check-ups before issuing the policy, provides 24*7 call assistance and offers cashless settlement of your claims. Premiums are reasonable and the coverage is inclusive.
Bharti AXA General Insurance Company Limited
Bharti AXA’s travel insurance plans provide you an easy settlement of claims because of the company’s coverage across more than 130 countries. You get round-the-clock assistance in any part of the world and no medical tests are required till 70 years of age. Moreover, the company offers flexible plans which suit your needs.
SBI General Insurance Company Limited. Travel Insurance Company in India
Travel insurance plans offered by SBI offer you coverage up to half a million US Dollars. A single policy is available for international trips taken for business or holiday. A comprehensive scope of coverage is provided which does not include pre-entrance medical tests. Worldwide protection is allowed with a quick and transparent claim settlement process.
If family members or relatives travel from India to the United States, you should ask yourself whether you should purchase visitor insurance from India or the United States. Well, an insurance company based in India could offer a cheaper policy; however, you need to consider several other issues when purchasing medical insurance for visitors from an India based company.
In the case of a disputed claim filed in the United States, there could be a problem of regulatory jurisdiction. Indian insurance regulators may not recognize your dispute. On the other hand, insurers based in the United States, being fully regulated, can take into account any dispute that may arise.
You may have to pay in advance if your hospital or doctor in the United States does not recognize your insurance. Then you can file the reimbursement request with your insurer in India. However, a treatment request in India could cause time administrative difficulties when working with the insurance agency.
If you need immediate assistance, connecting with customer support from an Indian insurance provider can be difficult, as it may not be available in the US time zone. This can cause delays when needed when you need help or need to file a claim.
Most Indian insurers do not offer renewable policies. Make sure you know all of the conditions of the policy. Find out if you can renew the insurance if a family member extends their trip.
Almost all Indian visitor insurance providers offer limited coverage plans, which do not have much choice over the selection of plans.
Indian insurance regulations may not be able to protect your rights when you are under US jurisdiction.
An insurance company based in the United States may be a better choice as it is regulated by American insurance regulations.
Since some Indian insurers are new to the field, they may not be able to provide you with the assistance they so badly need.
Many Indian plans are neither cancelable nor refundable. This means that you may not be reimbursed if you have an emergency and need to return to India earlier.
At VisitorsCoverage, we strongly recommend that you purchase travel insurance in the United States, an economical option that will give you peace of mind. Also, while traveling in the United States, you will want to enjoy your trip by traveling rather than worrying about travel-related medical emergencies and their costs.