Top 5 Travel Insurance Companies In 2016 In India

Travel insurance plans are not yet mandatory in India but effectively they are because if you want to make an international trip most foreign countries require travel covers by approved travel insurance companies in India for visa procedure of the travelers. Apart from the travelers, travel insurance policy is essential for those who visit foreign countries on work visa and those who travel abroad for studies.

Benefits of Availing Travel Insurance Plans

Unplanned expenses are common occurrences during a trip. We all are aware of it and carry additional money to cope with it. While you can manage extra spending in the form of buying a fancy stuff or dining in a stellar restaurant, expenses due to loss of valuables documents or even worse; for medical purposes can be fatal. This is where a travel insurance policy comes to your rescue. Medical expenses in countries like US, Germany, UK, Australia are extraorbitant compared to Indian standard. A minor illness in these countries can make a dent on your years of savings. But, with a valid travel policy, you can have these expenses reimbursed by your insurer once you get back to India. A travel plan can also be used to avail immediate assistance in the moment of need and you can always extend the duration if you need to prolong your trip.

Best Travel Insurance Companies in India

Having understood the importance of having a travel insurance policy, you must be looking for a quality travel insurer to grab a comprehensive travel cover. In India, there is no dearth of travel insurance provider but you need to find a reliable one to invest your hard-earned money. Here is a list of top 5 travel insurance companies in 2016 in India.

1. Apollo Munich

Apollo Munich is not only known as a standout health insurance provider but the insurer has also gained importance in the niche of travel by dint of its comprehensive travel insurance policies. In total, Apollo Munich offers 5 types of travel policies such as;

  • Easy Travel – Individual
  • Easy Travel – Family
  • Easy Travel – Senior Citizen
  • Easy Travel – Annual Multi Trip Plan
  • Educare (Students travel insurance plan)

Plan >

Easy Travel – Individual

Easy Travel – Family

Easy Travel – Senior Citizen

Easy Travel – Annual Multi Trip Plan

Educare

Key benefit

Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Trip Delay, Hijack Daily Allowance, Trip Cancellation and Curtailment, Missed Connection

Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Trip Delay, Hijack Daily Allowance

Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Hijack Daily Allowance,

Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Hospital Daily Cash, Personal Accident, Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Financial Emergency Cash, Personal Liability, Trip Delay, Hijack Daily Allowance, Trip Cancellation and Curtailment, Missed Connection

Medical Treatment, Assistance & Evacuation, Dental Care, Repatriation of Mortal Remains, Medical Cover for Trips Back in India, Balance Period of Policy + 30 days, Personal Accident, felonious assault Total Loss of Checked Baggage, Delay of Checked Baggage, Loss of Passport, Study Interruption, sponsor protection, compassionate visit(2 way), Bail Blond,

Personal Liability, Maternity benefit, childcare benefit, Treatment of Mental and Nervous Disorder; Including Alcoholism and Drug Dependency, Medical Expenses for Inter-collegiate Sports Injuries, Cancer Screening and Mammography Examinations, Emergency Financial Assistance, HIV Cover.

Source: Apollo Munich

2. TATA AIG

The owner of CNBC Awaaz Travel Awards 2012,2013, Tata AIG is another leading travel insurer in India. The provider offer 4 types of travel policies to cater to the needs of all types of travelers such as;

  • Travel Guard
  • Student Guard- Overseas Health Insurance Plan
  • Asia Travel Guard Policy
  • Domestic Travel Guard Policy

Plan >

Travel Guard

Student Guard- Overseas Health Insurance Plan

Asia Travel Guard Policy

Domestic Travel Guard Policy

Key Benefits

Accident & Sickness Medical Expenses

Checked Baggage Loss

Baggage delay

Loss of Passport

Personal Liability

Hijacking

Flight Delay

Automatic-extension of the policy

Accidental Death And Dismemberment

Sickness Dental Expense

Pre-Departure Services

Emergency Travel Agency

Emergency Cash Transfers and Advances

Legal Assistance

Medical Assistance, Evacuation and Repatriation

Accidental Death and Dismemberment including Felonious Assault

Accident & Sickness Medical Expenses

Reimbursement

Special Extensions

Coverage for Pre existing Conditions

Maternity Benefit

Childcare benefits

Treatment for mental and nervous disorders, including alcoholism and drug dependency

Cancer screening and mammography examinations

Physiotherapy

Sickness Dental Relief

Emergency Medical Evacuation

Continuing Treatment (following Medical Evacuation to your Country of Origin)

Repatriation of Remains

Baggage Loss and delay

Loss of Passport

Personal Liability

Study Interruption

Sponsor Protection

Compassionate Visit

Visit by Student

Visit by Immediate Family

Member

Fraudulent Charges

Trip Delay

Missed Connections/Departure

Hijack Cash Benefit

Bail Bond

Personal Accident

Accident and Sickness Medical Expenses

Emergency Medical Evacuation and Repatriation of Remains

Checked Baggage Loss

Loss of Passport

Checked Baggage Delay

Personal Liability

Accidental Death and Dismemberment Benefit

Repatriation of Remains

Emergency Accident

Medical Expenses Reimbursement

Missed Departure (Rail / Air)

Accommodation charges due to trip delay

Loss of Tickets

Emergency medical evacuation

Personal Liability

Source: Tata AIG

Top 5 Travel Insurance Companies In 2016 In India_Body

3. Bajaj Allianz

Bajaj Allianz already bagged the coveted CNBC AWAAZ Travel Awards as the best Travel Insurance Company in 2010, 2011, 2014. The provider enjoys a robust presence in the India’s travel insurance space by virtue of its comprehensive travel policies. Here is a list of travel covers on offer at Bajaj Allianz.

  • Individual Travel insurance Plan
  • Family Travel insurance Plan
  • Senior Citizen Travel Insurance Plan
  • Student Travel Insurance
  • Corporate travel Insurance

Plan >

Individual Travel Insurance Plans

Family Travel Insurance Plans

Senior Citizen Travel Insurance Plans

Student Travel Insurance Plans

Corporate Travel Insurance

Key benefit

Medical Expenses,Evacuation and Repatriation

Emergency dental pain relief

Loss of Checked Baggage

Delay of Baggage

Personal Accident

Loss of passport

Personal Liability

Hijack

Trip Delay

Emergency Cash Advance

Golfer Hole-in-one

Covers expenses of hospitalization, loss of baggage and other incidental expenses

Quick disbursement of claims

Covers you against trip cancellation, trip curtailment and burglary of your home(in Travel Elite plan only)

in-house international toll-free numbers and fax numbers to offer you assistance anytime

Covers expenses of hospitalization, loss of baggage and other incidental expenses

Covers you against trip cancellation, trip curtailment and burglary of your home*

Quick disbursement of claims

Covers expenses of hospitalization, loss of baggage, accident to sponsor, family visit and other incidental expenses

Covers you against bail bonds and tuition fee (available only in Student Elite Plan)

Covers you against loss of passport (available only in Brilliant Minds)

Covers you for emergency dental pain relief

(available only in Study Companion and Student Elite)

Quick disbursement of claims

Medical Expenses, Evacuation and Repatriation

Emergency dental pain relief

Personal Accident

Loss of Checked Baggage

Delay of Checked Baggage

Loss of Passport

Hijack

Trip Delay

Personal Liability

Hospitalization Daily Allowance

Source: Bajaj Allianz

Travel Asia plan

Aside from these 5 types of travel insurance plans, Bajaj Allianz have also come up with a customized travel cover called Travel Asia. Like other categories, this plan also has variants in terms of the coverage amount. Asia Flair and Asia Supreme plans come with coverage amount of US$15,000 and US$ 25,000 respectively. The plan offers coverage in the following situations;

  • Medical Expenses,Evacuation
  • and Repatriation
  • Emergency dental pain relief
  • Loss of Checked Baggage
  • AD & D Common Carrier
  • Delay of Baggage
  • Personal Accident
  • Loss of passport
  • Personal Liability
  • Hijack
  • Emergency Cash Advance

Another USP of Bajaj Allianz is they boast of in-house international toll-free numbers and fax numbers to offer you assistance anytime.

4. ICICI Lombard

ICICI Lombard won the prestigious CNBC Awaaz Travel Awards 2015 for the “Best Travel Insurance Company” in 2015. ICICI Lombard have gone from strength to strength ever since its inception in 2001. Two chief reasons behind the increasing popularity of ICICI Lombard travel cover are, availability of coverage for people up to 85 years of age without any need of medical help and cashless facility worldwide for cashless facility. ICICI Lombard offers 3 types of travel policies in the likes of;

  • Single Round Trip
  • Senior Citizen
  • Gold Multi-trip

Plan

Single Round Trip

Senior Citizen

Gold Multi-trip

Key Benefits

No medical test up to 85 years of age

Sublimit plan not available Schengen Countries

Cashless hospitalization facility is available worldwide

Quality health care guaranteed through United Health International

Original policy for 180 days and it can be extended for another 180 days

Coverage for total loss of checked baggage including handbag

Medical Concierge, Automotive Assistance, Lifetime services for dependents back home

Emergency Hotel Extensions

Trip Cancellation and Interruption

Compassionate Visit

Political Risk and Catastrophe Evacuation

Coverage for Swine Flu, H1N1 influenza

No medical test up to 85 years of age

Sublimit plan not available Schengen Countries

Cashless hospitalization facility is available worldwide

Quality health care guaranteed through United Health International

Coverage for total loss of checked baggage including handbag

Medical Concierge, Automotive Assistance, Lifetime services for dependents back home

Emergency Hotel Extensions

Trip Cancellation and Interruption

Compassionate Visit

Political Risk and Catastrophe Evacuation

Plan available up to 70 years of age

Cashless hospitalization facility is available worldwide

Quality health care guaranteed through United Health International

During a year, you can secure as many as 30, 45 or 60 days

Medical Concierge, Automotive Assistance, Lifetime services for dependents back home

Emergency Hotel Extension

Trip Cancellation & Interruption

Compassionate Visit

Political Risk and Catastrophe Evacuation

Coverage for Swine Flu, H1N1 influenza

Source: ICICI Lombard

5. HDFC ERGO

HDFC ERGO has come up with an array of general insurance products that encompass Health, Motor, Travel, Personal Accident and Home in the retail space. The company received iAAA rating by ICRA for paying highest amount of claim. As far as the travel policies are concerned, HDFC ERGO offers Single Trip, Multi-Trip, Asia plan(excluding Japan), Family Floater plan and a Student Travel Insurance Plan called Student Suraksha.

Plan

Single Trip

Multi-Trip

Asia plan(excluding Japan)

Family Floater plan

Student Suraksha

Key Benefits

Emergency Medical Expenses

Emergency

Medical Evacuation

Repatriation of remains

Emergency Dental Expenses

Hospital Cash

Accidental

Death and Permanent Total Disability Common Carrier

Personal accident

Flight delay

Loss of Baggage and Personal Documents

Loss and delay

of Checked Baggage

Personal Liability

Financial Emergency

Assistance

Contingency Travel Benefits

Hijack Distress Allowance

Emergency Medical Expenses

Emergency

Medical Evacuation

Repatriation of remains

Emergency Dental Expenses

Hospital Cash

Accidental

Death and Permanent Total Disability Common Carrier

Personal accident

Flight delay

Loss of Baggage and Personal Documents

Loss and delay

of Checked Baggage

Personal Liability

Financial Emergency

Assistance

Contingency Travel Benefits

Hijack Distress Allowance

Emergency Medical Expenses

Emergency

Medical Evacuation

Repatriation of remains

Emergency Dental Expenses

Hospital Cash

Accidental

Death and Permanent Total Disability Common Carrier

Personal accident

Flight delay

Loss of Baggage and Personal Documents

Loss and delay

of Checked Baggage

Personal Liability

Financial Emergency

Assistance

Contingency Travel Benefits

Hijack Distress Allowance

Emergency Medical Expenses

Emergency

Medical Evacuation

Repatriation of remains

Emergency Dental Expenses

Hospital Cash

Accidental

Death and Permanent Total Disability Common Carrier

Personal accident

Flight delay

Loss of Baggage and Personal Documents

Loss and delay

of Checked Baggage

Personal Liability

Financial Emergency

Assistance

Contingency Travel Benefits

Hijack Distress Allowance

Accidental Death

Permanent Disablement

Emergency Medical Expenses

Emergency Dental Treatment

Loss of Passport

Loss and delay of checked baggage

Personal Liability

Bail Bond

Sponsor Protection

Compassionate Visit

Psychological Coverage

Treatment for Expectant

Mothers

Screening and Examinations

Childcare Benefit

Source: HDFC ERGO

Conclusion:

Now that you are familiar with the leading travel insurers in India you can buy your travel policy from any of these providers as per your budget and requirement. There is no restriction about the time of purchasing travel cover but most people avail it a month or two prior to the beginning of their journey. You can choose from the above-mentioned providers and buy travel policy directly from their portals. But, it is always better to compare travel plans in terms of premium, coverage, exclusions, claim settlement record.

To make a detailed comparison without spending a lot of time on multiple travel insurers’ portals, you can resort to online insurance comparison portals like GIBL.IN where you can compare, select and even buy the travel insurance plan you want for your forthcoming tour. Here, you can rest assured of getting the best deal available and the much-needed assistance at the time of making a claim.

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