Annual Travel Insurance

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It is often said 'insure to ensure'. The unpredictable nature of life, the surrounding uncertainties make one ensure a safer future by investing in insurance policies. The umbrella for a rainy day be it in any sphere. Annual travel insurance, like other forms of insurance, is one such policy individuals look towards for coverage.  Flight insurance can be single or multiple in nature as well. Anyone who is a frequent traveler and travels abroad especially is advised to invest in the annual form of insurance which is long-term in nature and is valid for a year. For the infrequent traveler a single trip coverage should suffice.

Annual Air Travel Insurance

  Annual air travel insurance or flight insurance as it is commonly referred to is an insurance policy, that provides coverage for the policyholder, safeguarding him/her in case of any accidental death, loss of luggage, canceled flights, delays or maiming. In such scenarios, the traveler on board of a commercial flight is insulated for any unwarranted incidents. Single-trip insurances are short-term and one-time in nature and are only valid for the specific journey, during boarding until the deplaning. Once the journey is through the policy is nullified. In the event an accidental death happens, the benefits of the insurance policy i.e., the compensation is given to the person's nominees, who are his/her beneficiaries. However, private carriers do not have the option of insurance.

Importance of Annual Travel Insurance

  An individual who makes more than two-three international trips annually is advised to opt for an annual travel insurance plan rather than a single one. An annual policy is much more beneficial as it saves on time and money. Most insurance policies are affordable and are a boon especially when there are travel-related emergencies, most of which are unwarranted. The insurance policies offered by various companies differ in nature. When opting for a policy one should consider the basic requirements and analyze the criteria carefully to determine the needs. The coverage varies depending on the insurance company and the policies they have on offer. Therefore, whilst sifting through policies it is imperative that one ferrets out the personal criteria. A few pointers one ought to keep in mind while choosing an insurance policy include: the company's' policy for canceled flights, the countries which are covered within the policy, are hotels/accommodations covered for in case of cancelations, the protection offered in the event there is terrorism or civil unrest, the procedure for filing claims etc.

Top Annual Travel Insurance Companies

  Some of the companies have a comprehensive coverage whereas some have optional coverage allowing one to choose and pick specific components. Usually the comprehensive policy is less expensive than the optional one. The globally renowned Annual Travel Insurance companies which offer air travel insurance solutions and policies are Tata AIG., American Express and Columbus Direct.

  Columbus Direct Annual Travel Policy
They cater to most international and local destinations and their annual insurance policies start from 60 dollars per person depending on the location and the options availed. The insurance is valid for people up to 74 years and includes a medical coverage. The other benefits include legal assistance, hijack cover, personal accident coverage, baggage cover, cash and document loss coverage etc. Each coverage has a separate cost attached to it and varies from destination to destination.

  Tata AIG Annual Travel Insurance
Tata AIG has two insurance plans on offer namely ' gold and platinum which range between INR 8000 to INR 17000. These two plans have two trip length options as well. In case of loss of baggage up to 50% is reimbursable. Medical coverage, loss/theft coverage, hijacking, trip delay benefits etc are all covered by this multiple plan.  

  American Express Annual Travel Insurance Plan
American Express offers competitive rates in travel insurance. The service is available globally and there is a plan to fit every pocket. The Amex multiple insurance plan starts from 300 dollars and varies depending on the region one is traveling to. The policy covers medical as well has unlimited coverage for cancelations and overseas medical emergencies. Personal liability coverage, baggage cover, cash and document loss coverage etc. are also included in this policy. The claims are usually processed within ten business days from the receipt of the claim for. There are two card options ' the blue card and the platinum card. The blue card covers only accidents whereas the platinum card is valid for multiple-trip plans.

    To surmise, investing in annual travel insurance is a smart way to journey be it internationally or nationally. The benefits of insurance are many and safeguard one against unforeseen mishaps and come in handy during emergencies. Choose your policy smartly and wisely. Travel wisely to travel safe. 

Last Updated on 20/06/2011

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