Cheap Medical Travel Insurance
Cheap Medical Travel Insurance or Cheap Worldwide Travel insurance are travel insurance plans which offer reasonable coverage for the lowest available premium to the traveller. These plans can be availed is one is looking for a mandatory insurance plan like Cheap travel insurance for Schengen Visa where the coverage is fixed at €30,000. Here the traveller is availing travel insurance only because the visa will be issued only on proof of insurance coverage. But is this the ideal way to be insured when one travels abroad? The answer may not be an easy “yes”.
If one does a review across all insurance players for a similar set of benefits, the premium will typically be in the same price range with a variation of 5-10%. Websites like
www.eindiainsurance.com provide detailed tables of comparable insurance plans that will be helpful to the traveller to decide on the optimum coverage/premiums for their travel. The website also provides options for Cheap Annual Travel insurance for frequent travellers or Cheap Single Trip Travel insurance for those who travel once or twice a year. One must be aware that when one opts for the cheapest premium option, there could be a compromise one makes in terms of coverage under the chosen plan and this limited cover could become an obstacle if an unfortunate and unexpected claim situation arises.
Ideally, it is strongly recommended that the traveller first decides on the benefit coverage they would like to have for their trip and subsequently review the premium to make a final decision. Having a satisfactory coverage is most critical when faced with any emergency abroad, be it medical or non-medical. The traveller must be aware that as far as travel insurance is concerned “cheap overseas travel insurance” most definitely means a limited coverage for the insured. Assuming, one opts for a limited coverage of $50,000 while travelling to USA, in the event of an unfortunate hospitalisation due to an accident or sickness where in the insured needs a surgery and spend multiple days in hospital, this coverage will not be sufficient to take care of the medical expenses and the traveller will end up spending the remaining expenses from their pocket, which could be a sizeable amount. In an ideal scenario, the traveller should have first considered their destination country (USA in this case) and the cost of healthcare locally there and should have opted for a coverage between $250,000 and $500,000. Then using the comparison table, they should have chosen the most competitive premium for a coverage of $250,000 or $500,000. The incremental premium payable to purchase a comprehensive cover will not be significant when compared to the emergency situations that can occur and their potential financial impact
Similarly if the traveller is going for a holiday to Asia and proposes to take a cruise hoilday, they should ensure their insurance plan has non-medical coverages like
Trip Cancellation,
Passport Loss,
Flight Delay,
Missed Connection, Personal Liability and Cheap Cruise Travel insurance since these are risks associated with the holiday being planned.
Multi-trip Travel Insurance
