Get travel insurance cover for your summer trips well ahead

MUMBAI: Summer is round the corner and so is the much-awaited holiday season. Most of us have a bucket list of places to visit. Some of us may have even spent time and resources planning to tick some places off the list. Looking up for cheaper roundtrip fares and economy hotels is usually a top agenda while planning a trip. What we tend to overlook is the need for a travel insurance cover. Thanks to increasing awareness and availability of products, the concept of travel insurance is a bit established, though it will be a while before it becomes mainstream. But if you are yet to firm up your travel plans, here’s why you must factor in travel insurance.

Prices vary for various products and opting for the cheapest option sounds economical, but may not be the wisest decision. At the same time, choosing the priciest option too may not serve your actual purpose. Though a lengthy and time-consuming process, it is advisable to use online comparison sites to look for variation in prices and features offered by multiple players and weigh in for pros and cons. While it is tempting to make a last-minute purchase based purely on price, what matters is for you to know what your policy covers and when you buy it.

It is a folly to buy your travel insurance when you book your trip. Instead, you should buy it well ahead of the trip as it helps cover for any costs associated with delays and trip cancellations due to natural calamities like a cyclone or other factors that can ruin your holiday. Financial advisors, also insist that customers declare existing medical conditions to be on the safer side.

It is important to note that disclosing pre-existing diseases, even minor ones like high/low BP, won’t increase the price of your insurance policy. But not doing so may invalidate your travel insurance cover in the worst-case scenario. Almost all airlines now include a travel insurance policy for a paltry sum while you book your air ticket. But do not mistake it for a regular travel insurance. It takes care of your transport insurance, not the entire trip.