Travel insurance is an integral part of your purchase if you are planning for a trip abroad. There is no doubt that it has come to be the saviour for travellers on numerous occasions, right from when baggage may have been lost, flights may have been delayed, or money may have gone missing. The question, however, remains if one should go in for multi-trip travel insurance, or single trip travel insurance. Here is a gist of things that you need to know about what these entities mean to travellers.
The multi-trip Travel Insurance
is popular as the annual option; in this case, you would be covered with travel insurance for as long as one year, with a maximum period of one or two months’ travel at a stretch. During this period, you would be covered for all aspects of your travel, as in the case of overseas travel medical insurance.
The single trip option, on the other hand, covers you for just one trip; you would still be covered for a maximum duration of 12 months that your trip could be extended to. However, if your trip were to get extended beyond the specified duration of 12 months, all it takes is to go in for an extension of the duration of your single trip travel insurance, which could be done online from wherever you may be.
Another aspect of difference between the two lies in withdrawal. If you were to withdraw your annual or multi-trip travel insurance before the period, the calculation of Premium
would be as if you had purchased single trip travel insurance
. That is because of the nature of your insurance, where any duration of less than one year would automatically convert it into single-trip.Which one should you go for, when it comes to choosing between the two?
The answer depends on your circumstances and the kind of travel that you have been planning for. With the single trip option, you could plan a travel that is as long as a year’s time; however, that would be applicable only if you are not a frequent traveller. If, on the other hand, you do travel more than once, multi-trip travel insurance would be a better option, since the premium that you would pay would work out less than what you may have to shell out for many single trip options.
For those travellers who would have their partners going with them, it may be wise to get single-trip travel insurance for them too. The cover would automatically extend to dependent children who may be included in the travel.