What Impacts Your Travel Policy’s Premium?

What Impacts Your Travel Policy's Premium? 1

If you’ve traveled, you know it’s one of life’s most beautiful and memorable experiences. However, despite meticulous planning, it carries several risks. You are getting help to overcome unforeseen financial setbacks while traveling can be one of the important benefits of travel insurance. Check out Bajaj Allianz travel insurance plans online before buying your policy.

Travel insurance premiums can be crucial, but other factors must be considered. Travel insurance should provide maximum coverage at a reasonable price. Low-cost travel insurance with limited coverage would be the same as no insurance.

What Impacts Your Travel Policy's Premium? 2


Things that affect travel insurance premiums

Online travel insurance products vary in price. See what factors affect travel insurance premiums:

  1. Pre-existing health issues: Travel insurance premium amount depends on pre-existing diseases. Most travel insurers don’t cover pre-existing conditions. If they do, the premium may increase dramatically.

Before getting travel insurance coverage, mention pre-existing medical issues. If you fail to declare a pre-existing disease, your claim can be fraudulent and your policy worthless.

Your medical history might get surveyed when you disclose a pre-existing disease in your insurance. It could be asthma, diabetes, or cancer. Your insurer may cover expensive medical procedures if you disclose a pre-existing ailment before traveling. *

  1. Insured traveler’s age: Age determines travel insurance premiums. Older passengers pay more since they might be more likely to get sick or injured. Most travel insurance firms charge less for those under the 60s. The premium would rise slightly for those between 60 – 65 years of age and significantly for those beyond 70. *
  2. Duration of travel: Travel insurance companies assume you’ll become sick or wounded the longer you’re abroad. Thus, lengthier trips cost more. Regardless of length, travel insurance is essential. Buy a Bajaj Allianz travel insurance policy to get your trip covered today. *
  3. Time-sensitive: Many travel insurance firms provide additional perks and savings to customers who pay for their policies within 10 – 30 days of booking, which can be an excellent reason to invest as soon as possible. *
  4. Destination: Travel insurance premiums also depend on vacation destinations. Insurance premiums rise with distance from home. International travel insurance costs substantially more than domestic. E.g., travel insurance for Germany might cost more than travel insurance for Kashmir. Your insurance will be higher if you go to a remote or risky place *
  5. Maximum sum assured: Many insurers offer budget-friendly coverage. Travel insurance premiums increase in proportion to the sum assured. High premiums may seem like an extra expense, but a promised high sum would safeguard against significant losses. *
  6. Coverage: There are two types of coverage. One provides medical-only cover, the other comprehensive. Due to its wide scope, comprehensive travel insurance costs more than medical-only policies.

Alternatively, some insurers also offer customized insurance plans that you can tailor to reflect the requirements of your trip. These can be based on the destination’s reputation or an adventurous vacation. *

  1. Adventure sports coverage: Some insurers provide high-risk add-ons for adventure sports. Additional coverage can raise your travel insurance premium. *

* Standard T&C Apply

As explained, many factors affect travel insurance premiums. Thus, getting travel insurance based on pricing might not be wise. Before buying travel insurance online, review policy coverage, exclusions, terms & conditions, claim settlement, customer service, etc., and for renewals, check out the Bajaj Allianz travel insurance renewal policies online.

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.’

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