How to Calculate Travel Insurance Premiums Online

Travel insurance doesn’t just protect money; it also protects your time. Imagine losing your passport and being stranded in a foreign country. Without insurance, it will take days to sort out the issue, but with a travel insurance policy in hand, you get emergency assistance services and the required help. It saves precious travel time, something money can’t buy back.

If you are travelling to a distant place, it is important to get an international travel insurance policy from Bajaj General Insurance to protect yourself from unanticipated events.

What is a Travel Insurance Premium Calculator?

Suppose you are planning your trip to Italy, France, and Spain. You are budgeting the costs for your travel, including the cost of accommodation, stay, and travel. At such times, it is also necessary to understand the cost of insurance because travel insurance is mandatory in these Schengen countries.

A travel insurance premium calculator helps you find out the amount you will need to pay to your insurer for the purchase of a travel insurance policy. It is easy to use and you do not need to share any personal or sensitive information. The details that you need to input are:

• Travel dates and duration – Enter the date when you are planning to leave and for how many days you will be holidaying.
• Destination – It is the country or region you plan to visit, such as Schengen countries, worldwide, or the USA/Canada.
• Traveller’s age and number of travellers – Input your age and whether you are travelling alone or with your family members and enter their ages as well.
• Purpose of travel – Provide the purpose of your travel, is it for leisure or is it for business or educational purposes.
• Preferred sum insured – Mention the total coverage amount you want under your policy.

Once you enter all the details, the travel insurance premium calculator shows the estimated premium amount you need to pay.

Benefits of Using an Online Calculator

The travel insurance calculator is an important tool to manage your travel-related expenses. Following are its benefits:

• Provides quick results: The tool gives you results instantly in a matter of seconds.
• Aids in quick decisions: You do not have to wait for the agent to inform you about the premium amount, nor do you need to calculate the amount manually. As soon as you enter your details, the tool displays the premium amount and helps you to make quick decisions.
• Helps in budgeting: As you know the premium cost from the beginning, you can adjust the coverage amount according to your needs or purchase additional cover or add-ons.
• Provides convenience: A travel insurance premium calculator helps you calculate the travel insurance cost right from the comfort of your home. There is no need to visit the office of your insurer or call customer support. You can get the clarity you need by just entering the details.
• The entire process is transparent: The entire process of calculation is transparent as you can see the premium amount, inclusions and exclusions. The policy terms are clearly stated, so there are no hidden costs later. Thus, you can buy the policy with confidence as you know what you are paying for.

What Are the Factors That Influence Your Premium?

When you use an online calculator, you will notice that the cost changes based on the details you enter. The factors that influence the premiums are:

• Destination where you plan to travel

The destination that you plan your trip to is the biggest factor that influences your premium. If you visit countries like the US, Canada, or Europe, the insurance cost is higher than the cost you will need to pay if you visit nearby countries like Thailand and Indonesia. This is because of the difference in the medical treatment and hospitalisation costs.

• Duration of the trip

If you stay for many days, the premium cost will increase accordingly. So, a trip of 45 days will cost more than a trip of 15 days.

• Age of the travellers

If you are young and have a family with kids, the premium amount is less as compared to someone who is old or has certain pre-existing conditions.

• The trip type

If you travel solo, you will need to pay a higher premium amount as compared to a group or a family who is travelling, as the risk is spread among several people.

• Sum insured

Sum insured is the amount the insurer will pay in case you land in any emergency due to medical reasons, or flight delay, or loss of baggage and passport. If you choose a higher sum insured, the premium amount will increase as you are receiving more protection.

• Add-ons and optional covers

Bajaj General Insurance provides add-ons and choosing these covers will increase the premium cost.

Step-by-Step: How to Calculate Travel Insurance Premiums Online?

Follow these steps to calculate travel insurance premium online:

• Step 1: Access the Travel Insurance Premium Calculator: Visit the website of a reputable insurer like Bajaj General Insurance for travel insurance premium calculator online on their portal.
• Step 2: Basic Trip Details Need to Be Entered: You will need to enter the basic details, your travel dates, destination, age, gender, etc.
• Step 3: Choose Sum Insured & Add-Ons: Select your preferred medical coverage limit and optional benefits or add-ons.
• Step 4: View the Premium Estimated by the Tool: The tool generates premium quotes. It will help you understand the amount needed for your travel insurance.
• Step 5: Finalise the Policy as Per Your Needs: Once you find a plan that fits your needs, you can purchase the policy online by paying the required amount. Once the payment is successful, you will receive a digital copy of your policy.

Conclusion

A travel insurance premium calculator is a quick way to estimate the travel insurance costs and plan your trip effectively. Explore trip insurance online from Bajaj General Insurance and travel confidently with peace of mind.

FAQs

1. Is using an online travel insurance premium calculator free?

Yes, the travel insurance premium online calculator is free to use for calculating and comparing premiums.

2. Can the calculator help me compare multiple plans?

Yes. You can compare different plans and select the best one that suits your needs.

3. Does the travel insurance premium calculator show the final price?

The calculator gives you an estimated premium amount. The final price may be slightly different based on optional covers or specific details added while buying the policy.

4. How accurate is the online travel insurance calculator?

The tool is accurate as it uses real-time insurer data and the information you enter. However, the final price may be slightly different depending on the final policy details you choose.

5. What if my trip duration changes after using the calculator?

If your trip duration changes after using the calculator, you can re-enter the updated travel dates in the calculator and get the new premium estimate.

*Standard T&C apply

**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.

***Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making any related decisions.