If you are planning to embark on a trip, then an insurance is as important as packing your bags. Travel in India can go rough sometimes and that is where an insurance will cover you. Insurance also takes care of any tragedy that can take place (touch wood) and lets you forget any tensions about your family if something should happen to you.
But which company gives you the best cover and which is the most reliable company to buy insurance from? Which company is known to have the highest claim settlement ratio?
Presenting you a list of the top 10 travel insurance companies in India.
#1. Tata AIG Travel Insurance Company in India
#2. Apollo Munich Travel Insurance Company in India
#3. Bharati AXA Travel Insurance Company in India
#4. Bajaj Allianz Travel Insurance Company in India
#5. SBI General/ Travel Insurance Company in India
#6. Royal Sundaram Travel Insurance Company in India
#7. HDFC ERGO Travel Insurance Company in India
#8. Reliance Travel Insurance Company in India
#9. Religare Travel Insurance Company in India
#10. ICICI Lombard Travel Insurance Company in India
1. Tata AIG Travel Insurance Company in India
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When it comes to trust, Indians always have an extra bit of faith towards the Tata Group. The company was formed due to a joint venture of Tata with the American International Group. Whether you are looking for domestic or international travel, this company can provide you with both.
The 4 insurance plans provided for travel are Student Guard Plan, Travel Guard Plan, Domestic Travel Guard Plan and Asia Travel Guard Plan.
Travelling within Asia? Get yourself an Asia Travel Guard Plan. Students who want to travel abroad for higher studies can opt for a Students Guard Plan. The insurance plans either cover domestic travel by road or rail or cover international travel by air.
Most claims settled for these plans are due to sickness during travel, loss of baggage and cancellation or delay in flight.
2. Apollo Munich Travel Insurance Company in India
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Munich Health and Apollo Hospitals have made a joint venture to enter the insurance sector in India. They are now a big name among the travel insurance companies in India. The plans they provide include Easy Travel – Family, Easy Travel – Individual, Easy Travel – Annual Multi-Trip Plan, Easy Travel – Senior Citizens, Educare – Student Travel Insurance Plan.
An individual plan covers only a single person while a family plan covers self and spouse with up to two children. If you are a person between the age of 71 and 80, then a senior citizen plan can provide you with double the cover of a single plan. The annual trip plan is designed for frequent fliers who travel often.
Most plans start from a sum insured of 25000 and go up to 500000. The claim settlement is very easy. If you are thinking of a hassle-free plan, then this company is the one for you.
3. Bharti AXA Travel Insurance Company in India
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The Bharti group is a leading telecom giant and settled in agri-business and finance business. The AXA group on the other hand has been in the asset management and insurance sector for a long time. The joint venture company established in 2008 catering to General Insurance needs is a mix of these to known as Bharti AXA. The company certainly ranks among the top 10 travel insurance companies in India. The company provides different plans for solo and multiple trips in both domestic and international sectors. Whether it is baggage loss or a missing passport case, the company has everything covered. Claims regarding medical expense and other emergencies are also covered.
Another really good factor about this insurance company is that it provides pre visa insurance to customers on 26 states in the Schengen area of European Union. So, if you are travelling to any of these countries, then you know where to go to.
4. Bajaj Allianz Travel Insurance Company in India
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Bajaj is a known name in the Indian market since many ages. They have been known to make two wheelers for the average middle class Indian. The company made their way to the general insurance sector in 2001 and since then have been one of the top travel insurance companies in India.
They have three distinct plans for insuring your travel plans. The Travel Elite Plan, Travel Companion Plan and Travel Prime Plan. In the student section, three other plans namely, Student Elite Plan, Study Companion Plan and Student Prime Plan.
The company has been providing both individual and group insurance plans for a long time. Baggage loss and medical health cover are some of the common claims settled by them.
The company received the best travel insurance company award from Outlook India and is one of the most trusted companies that provides Govt schemes too.
5. SBI General/ Travel Insurance Company in India
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The most trusted name in banking also provides general insurance through its sister concern. The company began its operations from 2009. The best part of this company is that it provides insurance without and medical examination.
You can get both one way and multi trip insurance from the company. And the sum insured can go up to INR 5,00,000 if you are ready for it.
Loss of baggage or passport and home burglary with trip cancellation are common claims settled by this company.
While the single trip is valid for 180 days, the multi trip insurance has a validity of 365 days. Any Indian person travelling abroad for leisure or work and any foreign national staying in India is eligible for an insurance from this company.
6. Royal Sundaram Travel Insurance Company in India
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Chennai based Royal Sundaram is again a joint venture among the companies Sundaram Finance Group and Royal and Sun Alliance plc. A travel insurance plan for both international travelers and domestic can be availed.
leisure trips, students, multi-trip, senior citizens, the Travel Secure plan has it all. With a sum insured going all the way up to 1 million, you are sure to be worry free on all your journey. The company also makes tailor made insurance plans for people above 71 years of age. The senior citizen package is much better than a normal package when consulted for the right plan.
The company settles baggage loss claims, medical expenses and also offers daily cash allowance if someone needs to be hospitalized. The company obviously ranks among the top 10 travel insurance companies in India.
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7. HDFC ERGO Travel Insurance Company in India
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When the Indian bank with the highest market cap made a venture with Ergo International AG based in Germany, HDFC Ergo General Insurance Company was born. After its formation in 2002, this Mumbai based company catered to all kinds of general insurance. The travel insurance section of this company is also really strong.
The International Student Suraksha Plan by the company is made specifically for the students who go abroad for their studies. medical expenses in cases of emergency, dental expenses in cases of emergency, body repatriation, medical evacuation, permanent disablement and accidental death is covered by the company. In cases of checked in baggage loss or loss of passport, the company settles all claims too.
You can also be secured by the company if you face any personal liability, study interruption due to ill health, death of sponsor etc.
8. Reliance Travel Insurance Company in India
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The Reliance General Insurance Company founded in 2000 is an Anil Ambani owned company. If you are thinking about any travel plans, then the company can cater any need you may have. The company sells travel insurance for Indian nationals travelling all over the world.
If you are planning on a solo trip, then the you can opt from the standard, silver, gold or platinum plan. The sum insured for the same starts from INR 50,000 and goes as high up as INR 5,00,000. The family insurance ranges from INR 50,000 to INR 1,00,000. Just like the other companies, cover for loss of passport, medical expenses incurred during travel, loss of checked-in baggage, compassionate visits, missed connections, trip cancellation or delay, financial emergency assistance, etc. are all covered.
The company also has two senior citizen categories, one in the band of 60 to 70 and the other between 71 to 90. The hospitalization for the senior citizens can match any world class company.
9. Religare Travel Insurance Company in India
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After its formation in 2012 by the Union Bank of India and Corporation Bank, another travel insurance company was born to cater world class services in the field of general insurance.
The insurance covers medical benefits like emergency hospital coverage, accidental hospitalization insurance with double sum insured, pre-existing ailment coverage etc. There are several benefits that are non-medical. They include coverage of passport loss and baggage which has been checked-in. Trip cancellation, delay or interruption, personal liability cover and medical evacuation are also available.
The medical section of coverage is very strong. So, if you are worried about falling sick, you know where to go to.
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10. ICICI Lombard Travel Insurance Company in India
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ICICI Bank and Toronto based company Fairfax Holdings Ltd founded ICICI Lombard in 2001 and since then, the company has been operating as a full-fledged general insurance company.
The travel insurance sector caters to a very diverse group of clients. The company has need based products for every section of travelers. The sum insured varies from INR 50 000 to INR 5,00,000 and just like the other insurance companies, can insure medical and non-medical claims. The best part about the company is that there is no need for a medical checkup if the age of the insured is within 85 years. You can find both single and multi-trip insurance here.
So, the next time you are travelling somewhere, remember to insure yourself and then have a worry-free time of your life.
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