Travel insurance is a type of insurance which covers financial losses and medical expenses incurred while travelling nationally and internationally. The insurer bears most of the cost with the traveller bearing co-pay. Having a travel insurance ensures that one does not have to pay out of the pocket in an adverse environment.
Travel insurance can be bought online or from a travel agent. The insurance costs differ depending on the age, health, length and destination of the trip. Insurance can be bought by investing non-refundable pre-payments as premium against a fixed amount of money.
Companies like Tata AIG, ICICI Lombard, Royal Sundaram are some of the leading insurance providers in India. Most companies offer coverage to single people as well as families.
The premium or the cost of the insurance depends on the duration of travel and other travel associated risks. Most insurance providers cover common risks like theft or damage to personal possession, delayed baggage, medical expenses, trip curtailment or cancellation.
The best way to buy a travel insurance policy is to buy it online after comparing the quotes forwarded by different companies. The insurance costs can differ depending on one’s age, the destination one is travelling to, length of the trip, etc. However one can even buy a good travel insurance policy through a travel agent.
The two most popular types of travel insurance policies are trip cancellation insurance and Trip interruption insurance because these cover losses that are generally not covered by most tourists' existing coverage. While travelling to Koh Samui it is good to have insurance policies covering elephant treks and other risky activities like scuba diving and snorkelling.
In case a claim needs to be made one needs to contact the policy provider. Claims typically need to be made within 28-31 days.
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