Before embarking on a trip, securing the right insurance plan is as important as booking the right hotel and packing appropriate clothes. When researching policies, you will see two kinds of travel insurance plans: single trip and multi trip travel insurance.
A single trip travel insurance covers one trip, domestic or international, while a multi-trip plan covers multiple trips annually. Read on to discover the features and benefits of these policies to choose the best insurance policy for your expeditions.
What is single trip travel insurance?
Single trip travel insurance covers a single journey. Your policy begins on the first day of your trip and concludes when you return home. Insurance for single trip is ideal for people who only travel once or twice in a year, whether it's for holidays, a business visit or other reasons
A policy like this covers many travel-related risks, such as cancellations, flight delays, medical emergencies, loss of baggage and more. Many policies provide optional add-ons so that you can tailor the cover to your travel requirements.
The coverage duration varies, depending on your insurer and the terms and conditions of the policy.
What is multi trip travel insurance?
Multi-trip travel insurance covers multiple trips within a fixed time period, usually one year. It is best for frequent travellers, such as working professionals and travel enthusiasts. With one policy that covers every trip you take, you can enjoy convenience, cost savings and comprehensive coverage without having to acquire a new policy for each trip.
Typically, the coverage is valid for 365 days and the maximum stay limit is 180 days per trip.
Difference between single trip & multi trip travel insurance
The table given below highlights the important differences between single-trip and multiple-trip insurance.
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Features
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Single trip insurance
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Multi trip insurance
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Coverage duration
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Covers a single trip
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Covers multiple trips within a fixed time period (typically a year
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Best for
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Occasional travellers
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Frequent travellers
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Premium payment
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Paid separately for every trip
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Typically paid annually (covers all trips in that time period)
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Flexibilty
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Limited to one trip only
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Flexible for multi trip travel
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Renewal
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No renewal needed. A new policy is required for each trip
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Generally requires annual renewal
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Emergency coverage
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For emergencies during the insured trip
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For emergencies across all trips in the time period
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Cost
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Usually lower for infrequent travellers
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More economical for those who travel often.
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Annual or single-trip insurance: what to choose?
Choosing between the single trip and annual travel insurance depends on how often you travel.
The single trip policy is suitable for occasional travellers; each journey has unique requirements and a new policy must be bought for each journey. On the other hand, the multiple trip policy works well for frequent travellers as it covers all trips within the year and ensures continuous protection.
Things to consider when buying a single or multi trip policy
Here’s what one should consider when buying a single trip travel cover:
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Duration of travel and destination
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Trip cancellations or delays
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Policy cost for the specific journey
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Add-on options for extra cover
Things one should consider when buying an annual multi trip insurance:
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Number of trips planned in a year
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Maximum stay allowed per trip
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Affordability of the annual premium
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Convenience of one-time purchase vs. acquiring multiple policies
Conclusion
The different types of insurance policies offer unique benefits. A single trip policy works well for people who travel 1-2 times in a year, while a multi trip policy is a convenient alternative for frequent travellers.
International travel insurance provides support by covering medical emergencies, trip delays and baggage loss overseas. Buying travel insurance online makes the process seamless so you can spend time planning an itinerary and ensuring you pack all travel essentials.
Reviewing your travel frequency, destination and costs ensures you select a policy that matches your requirements and offers reliable protection during every journey.
FAQs
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Who should opt for the multi trip travel insurance?
It is suitable for frequent travellers who plan several trips within the year.
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How long does coverage last under a single-trip policy?
It lasts from the start of the journey until you return. The coverage time limit varies depending on the insurer.
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Can trip cancellation be covered under both trip policies?
Yes, both can include cancellation coverage, but only when the trip is within the policy period.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the topic featured in the article. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.