Apart from the dollars spend by travelers another comforting factor that is giving way to more and more travelers is the appreciating stature of currency in the country. So, just imagine if the Indian currency becomes more strong, the premium is surely to come down say experts.
Apart from the dollars spend by travelers another comforting factor that is giving way to more and more travelers is the appreciating stature of currency in the country. So, just imagine if the Indian currency becomes more strong, the premium is surely to come down say experts.
The backing and continuing idea to the above is, it has been noticed that the claims collected by various insurers is in rupees and, in case of any outbound traveling the amount is paid by general insurance companies in foreign currency. Due to this drastic difference between the rupee and foreign currency, insurance companies are today feeling the heat because the value of rupee has worsened ever since its fall in 2011.
Luckily and in fact the New Year bought some amount of increase in value of rupee as compared to the older years which was surely a very good sign. The proof to this statement is the point when the value of rupees was much more than dollar and that too this state could be experienced after long years.
The financial market expects the state of rupee be maintained so that the burden of rupee over dollar be reduced to a great extent. Many insurers are extremely happy with the appreciating value of rupee and such an appreciation in currency is surely the best comforting factor.
The basic claim in times of travel that the insurance companies experience is during emergency medical expenses. So, the situation and the market scenarios is closely observed, so when need be the rates will be re-looked say experts from insurance companies.