Most people who have travelled in recent times may have heard about travel insurance
. Those who have faced hassles or mishaps during their travels may also have realised the importance of it. If you are taking a trip in the near future, especially an international one, you ought to consider travel insurance.
If you haven’t already heard of it, a travel policy is akin to having financial protection against some specific sort of accidents or unfortunate events happening during the journey. Having a cover for the duration of your trip may let you can focus on making the most of your time rather than stay worrying about something that could go wrong.
However, finding the right type of international travel insurance plan can be a tad baffling to several people, especially people trying to buy a plan for the first time. When looking for a policy online, you may be offered choices between multi-trip and single-trip travel insurance
Before you make a choice, it is advisable to take the time to understand both these types well and figure out which one suits your needs better. If you are a first-time travel insurance buyer, are unsure of what each of these types of plans has to offer, or simply want to understand the major types of travel policies available, here is a look.
Single-trip Travel Insurance
Before you decide on which type of international travel insurance
policy you should buy, you should take a look at what your travel plans are for the foreseeable future, e.g., the next 8-12 months. If you plan to take only one international trip during this time, a single-trip insurance plan may be right for you.
As the name suggests, this type of travel insurance plan offers coverage for a single trip. The coverage begins when you start your journey. It ends when you come back home from the trip.
When taking a single-trip travel insurance plan, it is important to remember that the coverage under this plan may last for a maximum duration of 180 days. Thus, if your journey were to extend beyond this duration, you may not be afforded the coverage you had.
If your trip lasts for less than 180 days, your coverage under this type of plan will cease once you have ended your trip. Thus, for the next trip, you may have to buy a new policy. This may be feasible if you do not travel as frequently.
However, if you do travel frequently, or already have your next few trips planned, rebuying these plans can prove to be a tad expensive. You may consider this type of travel insurance if you are looking for coverage for a single trip only.
Multi-trip Travel Insurance
If you have multiple trips planned across the year, or frequently take trips for work or business, you may want to look at multi-trip travel insurance. This is the sort of plan that would eliminate the need for you to take a policy every time you travel. Also, it reduces the chances of you being accidentally left without coverage on one of your trips.
One of the features of multi-trip insurance potential policyholders need to know is that it also comes with a duration limit. The overall limit of these plans is usually a year, i.e., 365 days. However, there are further specifications you should be aware of.
For every trip you take under the coverage of this policy, the total coverage offered is 180 days. For example, a couple of months after you buy this policy, imagine you take a trip to Kazakhstan. Whether you are there for business or leisure, you end up extending your trip and it lasts for over 180 days.
In this case, the policy coverage will cease after 180 days. That is, you are required to limit every trip to 180 days if you want full coverage from your plan.
Furthermore, you also need to understand the conditions of buying travel medical insurance. These policies may be available with an age limit for the policyholder. Furthermore, when buying travel medical insurance, you may need to be transparent about your pre-existing conditions.
Which Travel Insurance Type Should You Buy?
Once you understand the difference between single-trip and multi-trip travel insurance, it may be easier for you to choose. Single-trip plans are ideal for occasional travellers. They may take no more than a couple of trips in a year.
On the other hand, multi-trip plans may be right for frequent travellers. This could mean people travelling for work or business, such as travel bloggers, photographers, event coordinators, or consultants.
When buying a travel insurance policy, choose the one that suits you best. You can go through the webpage of the policy to understand it better and get details. You may also get in touch with the insurance company for further information regarding the same.
*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.