Do you travel abroad frequently? If yes, you should invest in a travel insurance plan. Your interest demands you requiring more cover as compared to other people. Most people jet set around the globe and love to see new places and travel many times in a year. Although this may sound like a dream, you need to be more careful than others.
Understanding Multi Trip Travel Insurance
Multi trip travel insurance is a type of insurance plan that covers you for any future trips taken within a specific period of time, (with same cover level). Investing in an annual multi trip travel insurance plan will be covered for any and all trips you take on during that specific year. The insurance will also cover you for adventurous sports such as diving, skiing etc. This depends on the terms and conditions of the insurer you buy it from.
The annual multi trip travel insurance policy will offer you cover for around 3 or more international trips in a year. The cover period covered is up to 31 consecutive days of travel for each trip. Buyer can extend the cover period for an additional amount (depending on offerings of insurer). As per the insurer’s terms and conditions, the insurance plan will cover you for specific continents, countries, or even all around the world.
The Benefits of Multi Trip Travel Insurance
– This insurance will cover you and your family members in the event of any medical expenses that may arise while travelling such as sudden illness, death. It may even cover emergency evacuation expenses and compensation for death or permanent disability.
– Allows you to make last-minute travel plan where you don’t have the time to arrange for an insurance policy. This plan will also save you additional costs of buying a travel insurance plan each time you travel.
– In case of any cancellations of trip, the policy will cover you for expenses associated with hotel bookings and flight tickets. Also an extensive travel cover will also cover other expenses including pre-paid excursions.
– The insurance plan will cover personal liability for any loss or damage caused by you to a third party.
– Having this insurance policy will cover you for expenses associated to baggage that has been lost or damaged in transit. Taking into account the total cover amount while investing in this policy is important as this may also cover costs for any loss or damage valuables in travel bags such as camera, laptops, money, etc.
– The travel insurance will cover expenses associated to obtaining a new/ duplicate passport in the event you lose your current one, while travelling.
The Cover – What does a Multi Trip Travel Insurance Policy Cover?
This insurance plan for travel covers the following listed:
– Delays in Flight
– Medical expenses
– Expenses related to trip cancellation
– Lost or damaged passport and baggage
– Personal accident cover
– Legal expenses
– Assisting with emergency cash
When to Buy One?
Individuals in India can buy a multi trip travel insurance plan anytime they need it. Ideally, the best time to buy this insurance is a few days prior to leaving for a trip. This is important to ensure the traveller remains covered right from the moment he/she needs it.
Exclusions – What does the Travel Policy NOT Cover?
A multi-trip travel insurance plan covers you under varied circumstances. However, just as with every insurance policy, there are certain exclusions to this one too. This includes the following:
– Pre-existing medical conditions
– Circumstances caused by nuclear threat or war
– Expenses for medical treatment abroad
– Expenses arising from HIV AIDS, anxiety, suicide, depression, drug and alcohol abuse, venereal diseases, self-inflicted injuries or illnesses etc.
What to Know before Opting for Multi Trip Travel Insurance?
Just as all insurance policies, there are a number of things you must be aware of prior to opting for a plan:
– Be true to the insurance company. You must disclose pre-existing medical conditions (if you have any). This is very important to make the claim process smoother and fruitful.
– It is of utmost importance to report any lost or stolen item to the police within 24 hours of the occurrence of incident prior to making a claim.
– A backpack policy is a good choice to add especially if your travel plans include frequent visits to several countries around the world.
– Make sure you check the policy carefully for any additional charges, exclusions that could affect the overall travel cover.
Some of the Reputed Insurance Companies offering Multi-Trip Insurance in India are:
– Aegon Religare Travel Insurance
– Apollo Munich Travel Insurance
– Bharti AXA Travel Insurance
– Bajaj Allianz General Insurance
– Cholamandalam MS
– Future Generali Insurance
– HDFC ERGO
– ICICI Lombard
– MaxBupa Travel Insurance
– Reliance General Insurance
– Royal Sundaram Travel Insurance
– SBI General Travel Insurance
– TATA AIG