Demand for Overseas Travel Insurance

Imagine this situation; you have planned an adventurous trip around Europe with your friends. Unfortunately, you have an accident and have to be rushed to a hospital. The hospital bills of this foreign country are through the roof and you do not know what to do. In such a situation having an insurance policy could actually save your life. If you have travel insurance, all you have to do is give the hospital bill details to the insurance company which will contact the hospital and you may be able to avail of a cashless treatment. But this type of insurance does not just cover medical emergencies and accidents. If you are traveling with expensive items, especially high-priced gadgets, this insurance covers you if your baggage gets damaged while travelling. If your baggage gets lost and you have to buy new clothes, save your bills and submit them to the insurance company along with the claim form. You will also have to submit a property irregularity report from the airline and a copy of your passport. These expenses will then be compensated.

A travel insurance policy protects you from the high costs caused by a trip being cancelled or delayed. Due to unforeseen circumstances, a trip may have to be cancelled or postponed. Without insurance, you will lose a lot of money as the cost of cancelling and re-booking tickets are quite high. You are covered by travel insurance policies if your travels plans get changed. Either you could make the changes in the travel plan or your travel plans could be altered by the airline. Regardless, you will be covered for the cost of the changed plane route and all the unplanned hotel stay costs.

There are various conditions which you must consider before you pick an overseas insurance policy. You need to identify if the trip will be an adventurous one or a restful and relaxing one. If activities like trekking, paragliding, skiing etc. are a part of the trip, you will need special coverage insurance. Your destination will also determine the size of the cover. If the travel duration is longer, the premium will be higher. A frequent flyer could save money by choose for annual multi-trip policies. You must compare the policies and the plans, in order to choose one which is most appropriate for you.

It is very easy to get international travel insurance and the process can be finished in about a day. Travel plans and vacation trips are never made with the expectation of things going horribly wrong. Instead of worrying about the unforeseen elements it is wise to take an insurance policy to cover you when you are overseas. As they say, it is better to be safe than sorry.

Making Travel and Car Insurance Tax Friendly

Over the last few years, technology has advanced in leaps and bounds. There has been a great improvement in the automobile industry. Although a relatively small portion of the Indian population owns a car, the percentage is slowly increasing. At the same time, a far larger portion of the population owns at least some sort of vehicle. Many who cannot afford a car own vehicles such as a scooter, a motorcycle, etc.

With the growing of the Indian middle class and the relatively affordable travel fare, travelling has become easier. More and more people have begun roaming the world. This calls for an increased demand for travel insurance. This is because no event is devoid of blunders. Luggage can be lost, flights and trains missed, accidents are not unheard of. Unfortunately, not everyone is able to afford this along with their travel expenses. Travelling internationally can be especially expensive and international travel insurance even more so.

On the other hand, car insurance is one of the more popular insurance policies opted for in India. This is because it is mandatory. Anyone who owns a car needs an insurance policy on it. As a result, buying a car incurs multiple other costs along with it. Its insurance policies are extremely costly and can dissuade people from buying a car altogether. In 2007, less than 1% of India’s population owned a car. Yet, the rapid increase in the car owning population shows the increased investment in this insurance policy. This can be seen as 4.7% of India’s population owned a car/jeep/van in 2013.

Today, as we stress on advancement, we must also look to the people. We need to discover better ways to aid them. Investing in motor insurance and international travel insurance is often the deterrence needed for putting people off of buying vehicles or travelling internationally. As a result, in order to facilitate the growth of such policies, it is important to make them more advantageous.

For why would people invest in an extremely expensive travel insurance policy? It is true that blunders are not unheard of, but they are not extremely common either. Many may consider it a waste of money. But there would also be some among these who have repented this decision. Almost everything in most places abroad, ranging from hotel stay to public transport, is more expensive.

Hence, in order to encourage people to spend on such useful policies, we need to make an effort. Making such policies tax friendly allows people to discern their advantages. The hesitation they suffer in the expense can be avoided in the advantages the policy proposes. This would be for the benefit of the people themselves as such policies offer a valuable back up.

Tips For Selecting Reliable International Travel Insurance

If you plan on traveling abroad, for any reason, you need to make sure that you have good, reliable international travel insurance.  There are many risks involved with traveling overseas, and as such you need to make sure that you’re well prepared to deal with whatever may come your way.

Some risks involve accidents and illnesses, while others are more financial in nature, like lost luggage and stolen wallets.  Plus, you never know when your plans need to be changed or even cancelled. Anything can happen from now until then, and even if your plans are still on schedule, anything can happen during the flight or while on vacation.  Until the time that you return back home safely, any number of events can happen, so you’ll need international travel insurance to cover and protect your needs. 

When comparing policies, there are a few factors you need to take into consideration.  If you only plan on being away for a short period, then you may be able to obtain a low-cost, low comprehensive plan.  However, if you plan on being out of the country for awhile, then you should get a detailed international travel insurance plan.

Your destination itself also needs to be taken into consideration.  If you’re going to be out in a remote location, away from civilization, then you should get international travel insurance that covers the costs involved with searching, rescuing, and emergency evacuation.  Even if you already have medical insurance, not all health care plans cover international travel.  So conduct research and compare all the different policies out there to find one that best suits your individual needs at an affordable price.