Single-Trip Vs Multi-Trip Travel Insurance — The One to Select When Travelling Abroad

When one sets out to travel abroad, one expects to experience new places, food, culture, and people. However, despite one’s best efforts to evade it, an unfortunate event can come anytime, too. This is more likely to be the case when you are at an international destination. Events such as an accident, medical emergency, loss of essential items, and so on can derail the entire trip. That is why, one must purchase a travel insurance plan as a part of the trip preparation.^ ^Claims are subject to terms and conditions set forth under travel insurance policy. Travel insurance can be broadly classified into single-trip and multi-trip insurance, with each serving different purposes. As a safe traveller, you might wonder which one would suit you and your travel type. To get the answer, let us first understand what single-trip and multi-trip insurance plans are.

What is Single-Trip Insurance?*

As its name suggests, a single-trip insurance plan is a type of travel insurance policy which provides coverage for one trip only. The coverage of the plan begins with the start of the trip and ends with it. Once you have arrived at your return destination, the coverage of the plan ceases to be active. A single trip does not have to mean a single destination only. It can mean multiple cities, regions, countries, and so on, as long as they come within the scope of one planned trip only and the insured returns to the country of residence. As compared to its counterpart, a single trip travel insurance plan is likely to cover long-duration trips. Most insurance companies have a limit on the number of days a single-trip insurance policy can cover. In most cases, the plan might extend to a few months. With this plan, you can get coverage for medical contingencies, personal accident liability, loss of personal belongings, loss of passport, trip interruptions and cancellations, home and burglary insurance coverage, and so on. You can increase the scope of your single-trip insurance plan by opting for add-ons at nominal rates.

What is Multi-Trip Travel Insurance?*

A multi-trip insurance plan is a type of travel insurance policy that covers an individual for multiple trips taken within one year. Rather than provide coverage for a long single trip, a multi-trip policy considers smaller trips taken for a short duration within the span of a year. Usually, the coverage period of a multi-trip travel insurance plan is valid as long as the policyholder is on a trip abroad. Each trip taken within the year might have a limit of a few days. This differs from insurer to insurer. The scope of coverage for a multi-trip travel insurance plan is similar to that of single-trip plans. Medical events, loss of personal belongings, trip and event cancellations, trip interruption, alternative travel expenses, and so on, are covered under the plan. Add-ons are also available with this type of travel insurance plan.

Single-Trip or Multi-Trip Travel Insurance - Which One Should You Buy?

As explained above, each policy type serves a specific travel purpose. However, if you are still wondering which one you should buy, then a look at certain factors may help you get to the answer. These factors include:

Travel type*

Are you a leisure traveller or a business traveller? A single-trip plan may suit a leisure traveller better since it covers a long duration within which you can travel to one or multiple places of your choice. On the other hand, since business travellers tend to take multiple short trips, a multi-trip plan would be a better option for them.

Destination/s and duration* 

Where you are going to and for how long should also be considered when buying a travel insurance plan. If you are the type of traveller who goes to more than two-three destinations as separate trips and prefers to stay there for shorter periods, then a multi-trip plan would be ideal for you. For instance, if you plan to visit Nepal at the start of the year and Indonesia at the end of the year, a multi-trip plan would work best. On the other hand, if you have a long trip planned, such as 10-12 weeks throughout Europe, then single-trip travel insurance would be ideal. The cost of a travel insurance plan can change depending on the days you plan to travel, your destination, and the scope of its coverage. Hence, you should also consider the budget. Also, remember that travel insurance comes in different types as well. Older individuals who may have unique needs can opt for travel insurance for senior citizens. Students planning to study abroad can select student travel insurance plans. Corporate travel plans are also available for business travellers. Conducting sufficient research and clearing queries with the insurer is always advisable before you buy any travel insurance plan.   *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.