Single-trip insurance is a cost effective form or travel insurance if you do not travel much in a year because you just pay for the number of days that you travel; whereas a multi-trip covers for multiple trips in a year. However, it is not that buying a multi-trip plan will be worthwhile only if you travel 4 to 5 times a year. Buying a multi-trip plan is cheaper than the cost of buying two single-trip plans, especially if your spouse or children are travelling with you.
Investing in a multi-trip insurance plan keeps you all set for a year of short trips without applying, paying and worrying about arranging travel insurance each time you plan to travel.
If exploring new places is something that you really enjoy, travel often because of business need, or if you are staying away from home and frequently visit your family, buying a multi-trip insurance plan would best suite your requirements.
Before you buy a multi-trip insurance plan, you might want to know the detailed benefits of choosing a multi-trip plan over a single-trip plan. Here is the list:
Annual travel insurance plan can save you money
Buying a comprehensive travel insurance plan is a necessity as it covers for the medical emergencies or other unexpected events during your trip. If you're planning a couple or more trips in a year, you can cover them all for an amount which would be much less than the cost of buying 3 separate single-trip plans.
NOTE: Look for a plan that offers coverage for medical emergencies, travel delay or trip cancellation, and illness or death of a family member. Also, keep in mind that most companies have a coverage limit for trip interruptions and cancellations.
Long Coverage Period
The coverage in a single-trip policy starts from the day you begin your journey and ends on the last day of your trip. So, basically a single-trip plan covers you only for your exact trip duration, while a multi-trip travel insurance plan offers covers you right from the day you buy the policy till the next 365 days (one complete year).
Keeps you prepared for last minute trips
It might happen that the adventurous bit of your soul suddenly wakes up and you plan to leave for a trip immediately or may be the next morning; or may have to leave due to an emergency (business or personal) situation. In such circumstances you eventually travel without a travel insurance. A multi-trip insurance plan comes into play during such situations and covers you for any unexpected or last minute trips you might want to take.
Multi-trip insurance is useful for business travelers
If your business is such that it requires you to travel very frequently, then a multi-trip insurance plan is a must for you. A lot of things can go wrong while you are travelling, such as flight delays and misplaced luggage; a sudden trip delay or cancellation or loss of an important file. It may cost you a lot and leave you at a loss. Buying a multi-trip insurance policy designed for business travelers can cover you even during your instant business trips, economically.
NOTE: Look for plans especially designed for business travelers and that offer coverage for special situations, such as rental car collision, business equipment coverage, and business concierge assistance.
Things are simple with multi-trip insurance
Travel insurance policies can be complicated at times. Each time you buy a policy, you need to read the fine print carefully, so as to exactly understand what you're buying, what is covered, and what is not; and not face issues while making a claim. Buying a multi-trip travel insurance plan acts as a protective gear against the hassles you would have to face while buying each single-trip plan.
NOTE: Make sure you read through the policy documents carefully before buying, because not all plans offer the same benefits and coverage.
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