Types of travel insurance policy

As we are aware about the benefits of taking a travel insurance policy before going for a domestic or international trip, it also becomes necessary to understand the type of Travel Insurance policy you shall need to ask for.

Every time you travel, the purpose is different such as going out for business trip, heading for vacation or moving out to study abroad for a limited timeframe. Each type of Travel Insurance has its distinct benefits designed for that specific type of traveling reason so that you can get most out of your Policy when you go ahead for settling claim.

The different types of Travel Insurance fulfil the loss as the risk differs according to the purpose of traveling.

The different types of Travel Insurance are as follows as per the different purpose/types of Traveling:

  • Based on Number of Trips:
    • Single Trip Travel Insurance: If you are traveling solo for a single trip, you can opt for this travel insurance as it covers the duration of your single trip.
    • Multi-Trip Travel Insurance: In case you travel regularly throughout the year, then you can go for Multi-trip travel insurance which saves you from taking travel policy every time you travel. It also saves a huge amount of money on your premium. This generally comes with annual tenure.
  • Based on Travel location:
    • Domestic Travel Insurance: If you are traveling within your own country, you need to opt Domestic Travel Insurance. So, the next time you are traveling from Mumbai to Ooty or from Delhi to Ladakh, you need to go for this Insurance.
    • International Travel Insurance: If you are traveling out of your country, in our case, out of India, you need to opt International Travel Insurance. So, if you are on a World Tour, you can go for this insurance. This is recommended whenever you are leaving your country for traveling, honeymoon, solo trips etc.
  • Based on Purpose of Traveling:
    • Student Travel Insurance: These days, the opportunities of studying abroad has become very easy with globalization of education sector which sees the turn-out of many students leaving their country for study and educational purpose. This specific type of policy covers such students who are joining college, institute or university for academical or professional courses based in a foreign country.
    • Group Travel Insurance: These days, with the help of innovative travel agencies and the Groups formation on Social media, traveling to a distant place with people you never met or know is quite common and regular. In such cases, you can opt for Group Travel Insurance, either if you are traveling domestically or internationally, as it can save a huge amount on the premium.
    • Senior Citizen Travel Insurance: This Insurance is designed for senior citizens who have crossed 60 years of age. This policy helps Senior citizens to travel without the fear of any medical emergencies taking away huge amount of their budget away and hence, spoiling their trip. Generally, this Insurance Policy covers dental treatments, cashless hospitalization along with the usual benefits of a Travel Insurance policy.
    • Family Travel Insurance: This is the most popular Insurance type which sells as we generally want to make memories with our family than anyone else. The whole family is covered together in this with the coverages such as travel medical insurance covering hospitalization, any kind of baggage loss and other such expenses.
    • Corporate Travel Insurance: This is most popular with the organizations as they keep on sending their employees for projects out of the country quite often. Hence taking a Corporate Travel Insurance is recommended in these cases.

So, next time when you are about to travel, remember that choosing the right type of Travel Insurance is as important as your trip.

Best of Luck on your purchase of Travel Insurance Policy!