Everyone craves for vacations to enjoy some quality time with their loved ones and Indians are no exception. The outbound travel sector of India saw a robust growth this year travelresourcesonline because international travel destinations are highly sought-after among Indians in 2015. Obstacles like inflation, skyrocketing ticket price and depreciation of rupee couldn’t deter the wandering spirit of Indian travelers to travel around the world. Over 60% of Indians remain unmoved by the depreciating rupee and are raring to go to travel. However, the rate of availing travel insurance to safeguard the trip is still dismal among Indian travelers.
Young generations prefer to travel to international destinations once a year at least. According to a survey, 90% of these travelers make use of their own savings for overseas trips and don’t consider travel cover. Quite surprisingly, this is the mindset of young internet savvy generation as ICICI Lombard conducted the survey in the age group of 25-35 among 1049 people across six metro cities in India who had international trips in the previous year.
The survey further reveals that Singapore is the most preferred travel destination among young Indian travelers; the second and third places are held by US and UK.
Let’s take a look at the travel plans available and their prices for those who favor these destinations. Let’s start with Singapore.
Travel insurance plans available for Singapore trips
The following list of top 5 policy quotes in terms of lowest premium are for one 30 years old person looking for a single trip to Singapore. The trip duration is 10 days and the chosen sum insured is US$ 500000.
- Universal Sompo – Premium of Rs. 942
- HDFC Ergo – Premium of Rs. 1015
- Reliance – Premium of Rs. 1129
- TATA AIG – Premium of Rs. 1234
- Religare – Premium of Rs.1666
The lowest premium is Rs. 942 for a travel insurance plan for a 10 days trip to any Asian country such as Singapore, Thailand. This means one has to pay less than Rs. 100 per day to make his trip safe and secured. Indian travelers must know that travel plans are not only inexpensive but they also provide coverage for loss of baggage, passport, hijack and even emergency treatment.
Travel Insurance plans available for UK trips
The following list of top 5 policy quotes in terms of lowest premium are for 1 person looking for a single trip to UK. The trip duration is 10 days and the chosen sum insured is US$ 500000.
- Universal Sompo – Premium of Rs. 942
- Bajaj Allianz – Premium of Rs.991
- HDFC Ergo – Premium of Rs. 1015
- Reliance – Premium of Rs. 1129
- Bajaj Allianz ( Travel Elite Platinum) – Premium of Rs. 1139
Universal Sompo provides the lowest premium. The premium of travel insurance plan is also Rs. 942 for a 10 days trip To UK.
Travel insurance policies for US trips
The following list of top 7 policy quotes in terms of lowest premium are for 1 person looking for a single trip to US. The trip duration is 10 days and the chosen sum insured is US$ 500000.
- Universal Sompo – Premium of Rs. 1344
- HDFC Ergo – Premium of Rs. 1438
- Bajaj Allianz – Premium of Rs.1441
- IFFCO-TOKIO – Premium of Rs.1456
- Bajaj Allianz ( Travel Elite Platinum) – Premium of Rs. 1658
- TATA AIG – Premium of Rs. 1694
- Reliance – Premium of Rs. 1783
The lowest premium is Rs. 1344 for a travel insurance plan for a 10 days trip to US. Just imagine, you are getting all types of risks covered just by paying less than Rs. 140 for each day of your trip.
Best travel insurance plans in India in terms of baggage and medical coverage
The survey also made clear that 79% people buy travel plan to cover medical emergencies. Safety of baggage is the second most vital reason as 60% people behind purchasing travel insurance policy. So let’s find out best travel insurance plans in terms of medical emergency and luggage safety.
