Travelling is a great hobby for many Indians. This is because the idea of exploring new places, learning new cultures, and tasting local cuisine is exciting and thrilling. But in that excitement, many of us usually forget to secure ourselves against any unforeseen events in our journey. These can range from luggage loss, flight cancellations, accidents, etc. Hence, before setting off on your journey, one must buy travel insurance online regardless of what type of travel they are indulging into.
Therefore, the next steps will be to do comprehensive research on the various approaches available in the market to find the one that best suits your needs. Broadly speaking, there are two types of travel insurance policies available in the market for international travelers. These are single and multi-trip travel insurance policies. Before picking either of the two, you need to understand the basic difference between them.
Single trip travel insurance
As the name suggests, a single trip travel insurance policy only provides coverage for one trip. Even if someone is taking a single trip, they might visit multiple destinations or multiple countries altogether. Despite this, the insurance policy would consider this as a single trip. The duration of the policy ends when the policyholder returns home.
The policy cover starts from the time a person travels by air from his home country to a foreign destination and is valid until the return date or the policy’s expiration date, whichever happens to be earlier. The insurance policy comes with the option of extending coverage and boasts having an option for quick travel insurance claim resolution. Single trip insurance can be purchased as soon as anyone wants to leave. Such policies usually cover hospitalization costs, emergency dental care, lost check-in luggage, and so on.
For those who travel intermittently but for a long duration, single trip travel insurance is the right choice. Moreover, this type of travel insurance is not costly as you only need to pay for exactly as long as the trip is. All insurance companies have a limit on the number of days that can be counted as a trip. Generally, a single trip plan covers about 180 days.
Multi-trip travel insurance
While single trip travel insurance is purchased if and when the policyholder has to go on a trip, multi-trip travel insurance plans are purchased on an annual basis. The term of the policy, which is applicable for a period of 12 months, starts from the date of its purchase. All trips undertaken during the year are covered under a single policy. Multi-trip travel insurance policies usually cover passport loss, emergency medical expenses, trip cancellations, etc.
The cover is basically 365 days, during which a person can go abroad as many times as they want. If someone goes on several official or unofficial tours in a year, this is the best choice for them. Some multi-travel plans have a limit on travel duration, which can vary from 30-70 days per trip. Therefore, it is always advisable to read the fine print. To qualify for multiple-trip travel insurance, one must have a domestic health insurance policy in their home country.
Which should you choose?
Single trip insurance policies are designed for people who take only one or two vacations a year, whether it is a short trip to Maldives or a four-week trip to Italy. Multi-travel policies, on the other hand, are for those that tend to partake in more than two trips a year. These policies often have better value for money than buying a single trip cover for each particular holiday. Multi-trip policies allow unlimited travel for one year. Additionally, most policies limit the length of each trip, but it is better to double-check any details before purchasing.
The two plans have different uses and benefits. When it comes to which one you should select, the right choice depends on your specific coverage needs and the level of service that a particular insurance provider offers. For example, if an insurance provider offers a travel insurance app, you should explore their single trip and multi-trip policy options and then select the one that fits your requirements best.
For all your insurance & wellness needs, download ICICI Lombard’s ILTakeCare App, from Playstore & Appstore today.