Undoubtedly, international travel can be quite exciting. However, it is also important to prepare for unforeseen circumstances, like flight cancellations, medical emergencies, or lost luggage. This is where international travel insurance comes into the picture.
With this type of insurance, you are financially protected and can enjoy the trip without apprehension.
Tips to Consider Before Buying International Travel Insurance
It is a known fact to buy travel insurance is of utmost importance before going on an international trip. However, before you opt for any plan, make sure to consider the following points:
- First and foremost, assess your purpose of travel i.e., whether it will be a leisure or a business trip. Notably, determine the travel duration and frequency so that you can choose between single and multi-trip insurance plans.
- Knowing about coverage is another significant factor. Check for key aspects like medical expenditures (including coverage for pre-existing conditions), flight cancellations, luggage loss, travel delays, etc.
- Before shortlisting an international travel insurance plan, don’t forget to check for premium costs and deductibles.
- If your leisure trip includes high-risk activities, such as scuba diving, skiing or hiking, opt for plans that cover adventurous activities.
- Choose a plan that offers additional benefits. These may include 24/7 emergency assistance, travel delays, medical contingencies and lost/stolen documents.
- Check the policy limits, apart from checking the terms and conditions.
Advantages of International Travel Insurance:
A comprehensive international travel insurance plan provides cover for diverse issues. So, whether you are planning a vacation to a top honeymoon destination outside India or a business trip is on the cards, buying travel insurance online is worth every penny.
Here are some advantages:
- In case of any medical emergency, including hospitalisations, minor accidents or evacuation services, travel insurance plans have got you covered.
- Issues like stolen/misplaced baggage or lost passports are common during trips. Overseas travel insurance policies cover such mishaps, which is another major advantage of purchasing the plan.
- Travel insurance plans cover unforeseen circumstances such as flight misses, delays, and cancellations.
- Another significant benefit of buying travel insurance plans is that they provide financial assistance for food, accommodation, and other necessities during travel delays.
Now that we have a fair idea about why travel insurance is important and how you can choose the best plan, let’s look at single-trip and multi-trip travel insurance in detail.
What is Single-trip International Travel Insurance?
This type of travel insurance, valid for a single trip, is popular among travellers planning occasional overseas trips. Some policies also offer 24/7 assistance, such as travel advice, emergency medical assistance, and help with lost documents.
What is Multi-trip International Travel Insurance?
As the name suggests, buying multi-trip international travel insurance covers various trips undertaken within a specific period. This option is best for frequent flyers. The coverage period is usually one year, which is why it is also known as annual travel insurance.
Key Differences Between Multi-trip vs Single-trip International Travel Insurance
Before you proceed with any overseas travel insurance plan, know the differences to make an informed choice. Here are some of the key differences between both types of insurance plans. So, keep reading and find the perfect coverage for your business or leisure trip.
| Features | Single-trip Travel Insurance | Multi-trip Travel Insurance |
| Convenience + Cost Effectiveness | Convenient and affordable for single trips | One-time purchase makes it convenient and cost-effective for frequent travels |
| Policy Period | Only valid for single trip | Valid for multiple trips taken during the coverage period |
| Customisation | Can be customised for every trip | Can only be customised once i.e., at the beginning of policy purchase |
| Suitability | Occasional travellers, family vacations | Frequent flyers, business professionals |
| Premiums | Quite low | Premiums can be higher as the policy is on an annual basis |
| Coverage Period | Usually valid for 180 days | Typically, valid for one year |
The bottom line is that both multi-trip and single-trip travel insurance plans come with their own set of features and benefits. Before opting for a plan, assess your travel needs and frequency and decide which plan best meets those needs.
Choose the right international travel insurance plan for a memorable and safe journey.
