Everyone craves for vacations to take pleasure from some quality time using their loved ones and Indians are no exception. The outbound travel sector of India saw a strong growth in 2010 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 visit travel. However, the rate of availing travel insurance to guard the trip is still dismal among Indian travelers.
Young generations prefer to visit to international destinations annually at least. According to a survey, 90% of the travelers take advantage of their own savings for overseas trips and don’t consider travel cover. Quite surprisingly, here is the mindset of young internet savvy generation as ICICI Lombard conducted the survey in the age bracket of 25-35 among 1049 people across six metro cities in India who had international trips in the previous year.
In the event that you compare travel plans designed for couples who wish to visit UK, keeping the same criteria for trip duration, sum insured and age of the traveler, Religare provides the very best plan. The premium of the plan is Rs. 1537.
For a trip in countries like Singapore, Thailand within Asia which has been the utmost effective travel destination of 2015, a couple has to spend even less for a journey insurance policy. In the event that you compare travel insurance plans that cover Asia, you are certain to get the lowest premium of Rs. 1218 from Explore Asia plan given by Religare.
The positive part of the survey could be the increased awareness among Indian travelers. Significantly more than 90% of young generation is aware of the travel insurance which is really a significant rise from last year’s 80%. One of the major provider of travel insurance plans in India; ICICI Lombard underwritten a total travel insurance premium of Rs 100 previous year, it’s possible to expect the premium to increase by 5-10% in this year. The thing is not with the awareness; it’s having less understanding about the huge benefits associated with one of these travel covers.
27% of the full total respondents in the survey choose to not avail a vacation insurance plan simply because they were beneath the wrong conception that such plans cover only accidents, lack of baggage and theft but don’t provide medical coverage. That is definately not being the facts as the whole break-up of Titanium plan by HDFC ERGO shows extensive coverage for medical emergencies.
25% surveyed people didn’t buy any travel plan simply because they thought such plans are costly but it’s not so. The buying price of all plans for person mentioned listed below are about significantly less than Rs. 100 to significantly less than Rs. 140 for every single day of a 10 days trip. Travel insurance policies for couples are even cheaper as they cost in the product range of significantly less than Rs. 65 daily per person to less than Rs. 125 per day per person for destinations like US, UK and all countries in Asia including popular destinations like Singapore, Thailand.
Indians love to spend their holidays in international destinations. An international travel insurance plan doesn’t cost much and provides a lot in return. If you’re also a vacation freak, you should insure the full total duration of the trip so that you can enjoy your holiday with complete peace of mind.