Comparing Top Travel Insurance Providers in 2024: A Detailed Review

There is often nothing quite like travelling and exploring the world. Whether you travel without purpose or with intention, travelling is one of the most sought-after experiences worldwide. So much so that it has become an integral part of our lives, whether you are travelling domestically or internationally.

However, while there is much to look forward to when travelling, mishaps are around the corner and must be considered when planning your trip. This is where travel insurance is necessary and showcases its use in protecting travellers from dozens of risks.

This article will explore what is travel insurance, some of the best travel insurance providers in 2024 and compare them to help you choose the right policy for your needs.

What is travel insurance?

Travel insurance is a risk management tool specially designed to protect travellers from risks associated with travelling. By opting for the right insurance, travellers can protect themselves from the financial impact of dozens of covered medical and non-medical risks.

Numerous risks need to be assessed, whether it is a missed connection, trip cancellation, personal accident, or medical emergency. These risks range in severity and frequency; however, they are provided coverage by some of the leading insurers in the country.

What are the benefits of travel insurance?

When opting for travel insurance, travellers must consider the benefits and compare the offerings between various insurers to get the best policy for their needs.

Here is a list of some of the core medical and non-medical coverages provided under travel insurance:

1. Trip delay, interruption, and cancellation coverage
2. Missed connecting flight
3. Loss of checked-in baggage
4. Personal accident coverage
5. Personal liability coverage
6. Medical emergency coverages
7. Covid-19 coverage
8. Student-related coverages
9. Pre-existing disease coverage
10. Medical evacuation coverage

Foreign travel is expensive, and additional expenses can result in significant financial loss. However, travellers can travel confidently and safely with the right international travel insurance coverage.

Who are the top providers of travel insurance?

• Niva Bupa

Niva Bupa is one of the country’s leading travel insurance providers. Their Travel Assure policy is a specially designed international travel insurance policy to cover the varying needs of Indian travellers.

Features of Niva Bupa Travel Insurance

1. Single-trip and student travel insurance
2. Coverage up to $250,000 for single-trip and $500,000 for student travel
3. Extensive coverage, including trip cancellation, loss of checked-in baggage, personal accident, pre-existing disease coverage, etc.
4. Covid-19 coverage
5. Cashless in-patient claims settlement
6. Three levels of plans with varying degrees of coverage

• Tata AIG

Tata AIG is one of the leading general insurance providers in India. Their Travel Guard policy covers various risks and offers a convenient claims process.

Features of Tata AIG

1. Single, multi-trip, and student coverage
2. Coverage up to $500,000
3. Covid-19 coverage (Standard hospitalisation expenses)
4. Specialises in domestic travel insurance

• Care Insurance

Care Insurance is also one of the leading providers of insurance in India. They offer a good mix of medical and non-medical coverages and have one of the highest sum insured among peers.

Features of Care Insurance

1. Single, multi-trip, and student coverage
2. Coverage up to $1,000,000
3. No pre-policy check-up
4. Covid-19 coverage (Standard hospitalisation expenses)
5. Paperless insurance process

• HDFC ERGO

HDFC is another trusted name in the general insurance industry, featuring diverse products and a convenient way to pay premiums daily.

Features of HDFC ERGO

1. Single trip and student coverage
2. Coverage up to $500,000
3. No pre-policy check-up
4. Premium is payable on a per-day basis
5. Paperless insurance process

• Royal Sundaram General Insurance

Royal Sundaram is a renowned provider of general insurance in the country. Along with Care Insurance, Royal Sundaram also features a high claim limit of $1,000,000.

Features of Royal Sundaram

1. Single, multi-trip, and student coverage
2. Coverage up to $1,000,000
3. Cashless in-patient claims settlement
4. No pre-policy check-up

Conclusion

Choosing the right travel insurance provider can be the difference between inadequate and complete coverage. These are some of India’s top travel insurance providers, and by considering their offerings, you can ensure a smooth and hassle-free journey. With extensive coverage options and varying policies, these insurers can cover most of your needs, allowing you to travel confidently and with peace of mind.