Know How to Use a Travel Insurance Premium Calculator to Plan an Affordable Trip

We know that you need to tick off many things on your travel checklist while planning your trip. From packing all your essentials to having a solid itinerary, you need to take care of every possible aspect of your trip to avoid any unpleasant situations while away.

However, don’t forget to use a travel insurance premium calculator to find out just the amount you’d need to get yourself the protection of a travel insurance policy. Moreover, this will help plan your travel budget successfully.

A travel plan is essential to protect yourself against any emergencies that may arise during your trip, especially medical ones. When you are in a foreign country, the chances are medical bills will be heavier on your pocket then back home. For instance, if you look at some data on healthcare costs in the US, you will find that only a doctor’s consultation can cost anywhere between USD 200 to 300, which roughly amounts to Rs 20,000. Therefore, buying a travel policy is imperative, and a travel insurance premium calculator will make the calculations much easier. 

How Does the Travel Insurance Premium Calculator Work?

Generally, insurance companies have an easy and customer-friendly travel insurance premium calculator on their website. You can follow these steps to use it:

1) Explore and browse the chosen insurance company’s website.

2) Look for the travel insurance tab and select it.

3) Enter the required information such as your age, destination, date of travel, and other required information.

4) Select the frequency of the trip you plan to take, such as single trips or multi-trips.

5) Fill in the details about your health condition, if needed. 

6) Then, click on the proceed tab.

7)Next, you may have to fill in personal details like name, mobile number, and email. 

8) Click on the get quotes tab.

9) You will get the premium rates of the different plans available using the travel insurance premium calculator.

Let’s look at some factors that might affect the premium rate:

• Age: Your age plays an essential role in determining the travel insurance premium amount. If you are a senior citizen, then the insurance premium would be higher than for a younger person. 

• Travel Destination: The price of the travel insurance plans may vary depending upon the duration of the trip, and an international country will be comparatively expensive.  

• Duration of Trip: The price of the travel insurance plans may vary depending upon the duration of the trip.

• Frequency of the Trip: The frequency of your trips also influences the travel insurance premium.

• Coverage: You must remember that coverage is the most important aspect of your travel insurance policy, and the premium cost is mainly evaluated based on coverage features.

• Sum Insured: The chosen sum insured will have a direct impact on your travel insurance premium.

• Add-on Cover: If you purchase any add-on covers or riders, the premium cost of your travel insurance policy will increase depending on the plan’s terms & conditions. 

How Much Does Travel Insurance Cost? 

Travel insurance is not one size fits all, so the price & the conditions of a plan will vary. However, it may be useful to understand pricing guidelines to plan for your travel insurance purchase. Travel insurance premium calculators are extremely helpful to calculate insurance costs as well. For example, if you purchased a trip with a total cost of Rs 5,000, travel insurance policies available to you will likely range in price from Rs250- Rs 500, depending on variables.

What Should Travel Insurance Cover?

Your travel insurance should always include the cover as follows:

1) Medical expenses and the cover for medical evacuation if you’re injured or fall ill while abroad. 

2) Personal injury & cover for accidents and permanent total disability. In addition, cover for lost or damaged items like passport and checked-in baggage.

After using the travel insurance premium calculator and preparing the budget for your trip, look for trusted insurers like Care Insurance that offer flexible and affordable travel policies.