Traveling to foreign soil for the first time is a very challenging task when you are unaware of the surroundings. The primary reason to get travel insurance is to overcome the situations such as theft, personal accidents, illness, personal liability, and other travel-based issues while visiting a new destination.
Also, there are sometimes when you have to travel by taking a travel loan and any trouble can ruin the enjoyment of the entire journey.
However, finding the right travel insurance partner is not easy when you are surrounded by dozens of choices.
10 Best Travel Insurance Companies
So, here we are bringing to you some of the top travel insurance companies that provide the best insurance policies in 2022.
- TripMoney – Started within the MakeMyTrip Group in 2018, intending to provide users with easy travel credit lines and EMIs. By partnering with a top bank like NBFCs, and other Fintech companies, it is a 100% subsidiary company of MakeMyTrip Group. Not only does it provide travel loans but also offers insurance for travelling.
As TripMoney is partnered with Capital Slot (NBFC), IDFC Bank, Just Money, and Kist (NBFC) banks that means the insurance will be issued by them. It covers benefits like treatment for injury, outpatient medical expenses, repatriation, bounced booking, emergency hotel accommodation for an immediate family member, home burglary, hotel cancellation, cost of return travel due to trip interruption, medical evacuation, and personal accidents.
- Tata AIG – Established in 2001, Tata AIG General Insurance Company is an MNC that provides travel insurance for domestic and international trips through 4 travel insurance plans namely.
- Student Guard plan – Best for students that are willing to travel abroad for study purposes.
- Travel Guard Plan – Overseas insurance plan that is designed for international travelers.
- Asia Travel Plan – Provides travel insurance to travelers who want to travel within Asia.
- Domestic Travel Plan – This is especially for the people who want to travel within India through air, road, or rail.
Tata AIG aims to safeguard people who want to travel for business purposes or leisure by providing cover in case of accidents or sickness, loss of luggage, flight delay or cancellation, dismemberment, loss of passport, or other emergency evacuation, etc.
- Apollo Munich – This is another travel insurance company that came into existence in 2007 which is a joint venture between Apollo Hospitals & Germany based Munich Health, Apollo Munich Insurance Company Ltd. It provides travel insurance cover with its Easy Travel plans including Individual, Family, Senior Citizen, and Annual Multi-Trip Plan.
The individual plan protects travelers against theft, sickness, and other such contingency situations. The family plan covers a family of four which include 2 adults and 2 children. Under senior citizen policy, it covers the age group of 71 to 80 years.
Any type of medical treatment, repatriation of mortal remains, loss of important documents, accident, loss of luggage, trip delay, or cancellation are covered under these plans.
- Bajaj Allianz – Established in the year 2001, Bajaj Allianz Insurance Company is a joint venture between Bajaj Finserv and German financial services company, Allianz SE. It crates both foreign and domestic travelers with several policy schemes for students, individuals, family, business travelers, and business travelers. The travel insurance plans are categorized into 3 categories:
- Travel Companion Plan
- Travel Elite Plan
- Travel Prime Plan
Policy plans for individuals & families cover medical & health cover, repatriation of mortal remains, compensation for loss of baggage for international travelers.
Beyond this, the company also provides customized student insurance plans for those who want to go abroad for higher studies.
The Bharat Bhraman Plan is for individuals who want to travel within different regions of India for business or holiday purposes.
- SBI General Insurance – The SBI General Insurance was launched in 2009, which is a subsidiary of India’s largest public sector bank, SBI. One of the best things about SBI travel insurance is that it can cover up to $5,00,000 medical insurance and requires no pre-medical examination to avail of the benefits. The policy period of a single trip travel insurance policy ranges from 1 day to 180 days. However, the policy period of multi-trip travel insurance can be extended up to 1 year.
It provides cover for medical expenses including expatriation and evacuation, personal accident, travel support like loss of passport, luggage, home burglary insurance, trip cancellation, emergency cash advance, and hospitalization expenses.
An Indian person traveling abroad for business or leisure purposes or any foreign national working in India is eligible for SBI Travel Insurance Plans.
Travel insurance companies provide great benefits and advantages. All the insurance companies have unique offerings that can compensate for the loss of the user.
You can go with any of these insurance companies as all of them provide great benefits and cover those claims that are necessary and uncertain during the trip.
TripMoney is a great travel loan company that not only offers loans for traveling but also provides insurance for the trip to safeguard the journey.