Travelling offers relaxation from your hectic schedule and takes you away from the din and bustle of your routine life. A travel insurance plan is extremely useful in such a scenario. These plans provide adequate support against unexpected medical and non-medical emergencies. Travel insurance is an absolute necessity and can handle any unexpected eventuality, when you are on a vacation. Your finances can be majorly affected if you do not have sufficient coverage and support of travel insurance.
However, before finalizing the travel insurance plan, you must research about the various available policies.
There are two types of travel insurance plans:
Single-trip travel insurance
It provides financial protection against any unforeseen circumstance or exigencies for a single trip, whether domestic or international. It provides financial protection against any unforeseen circumstances or exigencies for a single trip, whether domestic or international. You will be covered for only one single holiday. Even if you travel to different destinations in a single trip, it will still be considered as one trip. The plan begins once you board your flight when travelling domestically and ends once you return to your destination or when the policy ends, whichever is earlier. The duration of coverage may vary for different insurers. If you are travelling once a year it is an affordable option. This particular plan offers coverage for expenses associated with hospitalization, loss or delayed baggage, passport, personal items and travel documents.
Multi-trip insurance plan
It provides financial protection against any unforeseen circumstance or exigencies for multiple trips taken annually, whether domestic or international. A multi-trip travel policy is valid for a specified duration and not for a specific journey. It provides financial protection against any unforeseen circumstance or exigencies for multiple trips taken annually, whether domestic or international. This plan provides coverage for emergency medical expenses, loss of passport, loss of baggage trip cancellation, etc. The multi-trip travel insurance plan covers cash support for a specified time, typically for a year. With this plan, you can travel as many times as you want. However, some plans have limitations on the duration of trips in a year, varying from 30-70 days.
Benefits of purchasing annual multi-trip travel insurance policies
It is a convenient and a flexible tool for frequent travellers
Multi-trip travel insurance policies are feasible for those who are on the move the entire year and every stay is a long one
Whether you travel for business or on a vacation on a regular basis then it is advisable to opt for a multi-trip travel insurance
It provides far-reaching coverage that includes trip cancellation and interruption, emergency travel and health services among others
It is cost-effective and helps save money as getting insurance policy for each trip in a year will cost more
Multi-trip travel insurance normally includes coverage for individual along with a family. Thus your family can benefit from this and it also covers two adults and two children below the age of eighteen.
How to choose the right travel insurance plan
Single trip travel insurance plan is perfect for people who go for long trips, for instance more than 90 days overseas once a year.
When you book a single-trip insurance plan, you get coverage for multiple countries.
People who travel occasionally can benefit from this plan
The biggest advantage of a multi-trip insurance plan is that it starts the day you buy this policy and continues for the entire year
This type of travel insurance is ideal for people who travel repeatedly in a year
So, if you are sure that you will travel on a frequent basis and hop from one place to the other in a single year then multi-trip insurance plan is a more convenient option and save a lots of money and offers complete peace of mind.
Buying a travel insurance plan? Factors to consider
Number of destinations you will cover
Duration of the trip
Valuable items like watches, laptop, jewellery you are carrying
Any cancellations or loss of baggage, etc
Medical expenses that may occur due to sporting or any other adventure activities
Limits of an insurance plan
Exclusions if any
To conclude we can say that buying an appropriate travel insurance plan is extremely significant before you hop on to a voyage that is safe and hassle free. You can get it customised according to your preference and affordability. There are several multi-trip and single travel insurance plans available from the insurance providers. Buy a plan that meticulously suits your needs whether your trip is short or long.
You should purchase a travel insurance plan that fits your type and frequency of travel. Both the insurances offer similar coverage except the duration of your travel. The chief reasons why you should opt for one insurance plan over the other would depend on the number of trips you will take in a span of one year and long the trips are. So, choose wisely and have a wonderful and peaceful travel experience.
