Single-Trip Vs. Multi-Trip Travel Insurance

Single-Trip Vs. Multi-Trip Travel Insurance

When one plans for travelling abroad, travel insurance is usually the last thing that comes to mind. Well, if you are a frequent traveler, you must be aware of how important this form of insurance can be. You become financially secure against unforeseen events like medical treatment, trip cancellation, or loss of baggage. It’s like taking a trusted friend with you that keeps you secure from every possible danger.

There are various factors to examine before choosing travel insurance online for your next trip. One such factor is, choosing the insurance type from single trip and multi-trip.

Table of Contents:- 

Single Trip Travel Insurance Policy

When To Buy Single Trip Insurance Policy?

Multi-Trip Insurance Policy

When To Buy Multi-Trip Travel Insurance?

Conclusion

Single Trip Travel Insurance Policy

As the name suggests, single travel insurance covers an individual and his family for a single trip. The cover includes holiday cancellation, loss of baggage, theft of money, emergency repatriation. The insurers don’t consider it a multi-trip if you are traveling to multiple countries consecutively. They will count it a single trip if you leave home and return home only once.

Benefits of Single Trip Insurance Policy

Single trip insurance comes with numerous benefits, which include:

The premiums of this insurance type are usually cheaper than multi-trip insurance

Some companies may provide refund related to single trip insurance if you cut short your trip

The maximum number of days in one trip is usually higher than that of multi-trip insurance.

They are more specific. This means if the nature of your trips varies substantially, you can go for single trip, as you can customize the plan to suit your journey.

You don’t have to worry that your premium will be wasted if you are unable to go for subsequent trips.

The restrictions related to minimum and maximum eligible are less.

Additional Reading: Know About Medical Travel Insurance Plan

When To Buy Single Trip Insurance Policy?

If you are travelling abroad for the first time, choosing a single trip insurance policy is a good option. If you visit different countries once a year with your family, such as during summer vacation with your children, then also you should opt for it.

As discussed above, single trip policies are ideal if you there is a huge variation in the nature of your trips. For example, one trip might be a business-related tour to Dubai, whereas the other can include rifle hunting in Africa. In both of these trips, your requirements will be different. You can modify the plan with add-ons for each trip.

Multi-Trip Insurance Policy

A lot of travelers prefer investing in multi-trip insurance policy that offers coverage related to travelling for a whole year. It doesn’t matter when you go out for a trip; the policy gets activated immediately and stays valid throughout the year.

Benefits of Multi-Trip Travel Insurance Policy

There are numerous benefits that make multi-trip insurance so popular:

You stay prepared for trips that may take place due to personal or business emergency.

You don’t have to go through the complicated process of selecting the insurance plans and reading their comprehensive brochures each time you go for a trip.

This insurance becomes economically feasible if you have to travel abroad regularly for work-related purposes.

Some policies even cover for adventurous activities, such as paragliding and skiing.

Some insurers, like Reliance General Insurance, give you coverage for trips that may extend up to 365 days.

Read: Everything You Need To Know About Travel Insurance

When To Buy Multi-Trip Travel Insurance?

These insurance policies are tailor-made for business travelers who have to visit different locations regularly. In fact, there are some plans, especially designed for business travelers. For those who love to explore the world alone or with their travel buddies, multi-trip policies are ideal choice for them.

Major Differences Between Single Trip Insurance And Multi-Trip Travel Insurance