Multi trip travel insurance: Why it's a must for frequent travellers

TomorrowMakers ™

Multi trip travel insurance: Why it's a must for frequent travellers

10 November 2017
Travelling abroad frequently can leave you needing more cover than other people. This is where multi trip travel insurance comes in handy.
 
 

Jet setting around the globe, seeing new places and travelling multiple times a year, does sound like a dream. So, if this is your reality, you’re one of a handful of lucky people. But it also means you sometimes must be more careful than others. For this reason, people are encouraged to buy travel insurance when travelling abroad.

Importance of travel insurance 
In many countries around the world, medical costs are usually sky high for travellers who do not have insurance. In today’s times, terrorist attacks and natural calamities can occur just about anywhere. For frequent travellers, an annual multi-trip (AMT) travel insurance makes much more sense than buying a travel insurance policy every time you leave the country.

 

Related: Types of travel insurance coverage in India

What is multi trip travel insurance?
Multi trip travel insurance is the kind of insurance that covers you for all future trips taken within a specific period, with the same level of cover. For instance, if you buy an annual multi trip travel insurance plan, you will be covered for any and all trips you go on during that year. You can also get cover for adventure sports such as skiing or diving, depending on the terms and conditions of the insurer you are buying it from.
An annual multi trip travel insurance policy offers cover for three or more international trips in a year. Additionally, the cover period is usually offered for up to 31 consecutive days of travel for each trip. This cover period, however, can be increased for an additional amount and depending on the insurer’s offerings. Depending on the insurer, multi-trip travel insurance can cover you for specific countries, continents (for e.g. Europe) or even worldwide.

What does multi trip travel insurance cover?
It generally covers the following:

  • Medical expenses
  • Cost of trip cancellation
  • Lost or damaged baggage and passport
  • Personal accident cover
  • Legal expenses
  • Facilitating with emergency cash
  • Flight delay

Related: Foreign currency options to consider when vacationing abroad

A multi trip travel insurance policy can be bought anytime you need it. Ideally, it is best to buy this insurance a few days before leaving for a trip. This ensures you remain covered right from the moment you need it. 

Benefits of buying multi trip travel insurance

  • You and your family members are covered in case of medical expenses relating to death, injury or sudden illness when travelling internationally. It could also cover emergency evacuation expenses and even compensation for death or permanent disability. 
  • Enables you to take up last-minute travel as you don’t have to bother about travel insurance, especially if you don’t have the time to arrange for an insurance policy at the last minute. It also saves you extra costs of buying travel insurance each time you travel.
  • In case of any cancellations, the policy will cover you for expenses related to flight tickets and hotel bookings. Additionally, if your cover is extensive, the policy could also cover other expenses like pre-paid excursions.  
  • It also covers personal liability cover for any damage or loss caused by you to a third party.
  • With this insurance policy, expenses related to baggage that has been damaged or lost in transit are also covered. It is important to carefully consider the total cover amount as it could also cover costs for any damage or loss of valuables in your bags such as laptops, money, camera etc. 
  • Expenses related to obtaining a new/ duplicate passport in case you lose your current one, while travelling is also covered under this policy. 

Related: USA? Europe? Kerala? 5 Ways to take that vacation this summer!

What does the policy not cover?
Although multi-trip travel insurance covers you under several circumstances, there are certain exclusions to this policy. This includes pre-existing medical conditions, circumstances caused by nuclear threat or war, expenses for medical treatment abroad, and expenses arising from anxiety, depression, HIV AIDS, suicide, drug and alcohol abuse venereal diseases, self-inflicted illnesses or injuries etc. 

Like all insurance policies, there are certain things you need to be aware of before opting for multi trip travel insurance.

  • Ensure you disclose pre-existing medical conditions (if you have any). This will make the claim process smoother 
  • Any lost or stolen item must be reported to the police within 24 hours of the incident taking place, before making a claim
  • You can also consider getting a backpacking policy if your travel plans include visiting several countries. 

Related: 5 Reasons why the new budget lets you travel more

Also, ensure you check the policy carefully for exclusions or extra charges that could affect the overall cover.

Insurers offering multi-trip insurance are:

  • Aegon Religare Travel Insurance
  • TATA AIG
  • ICICI Lombard
  • Future Generali Insurance
  • MaxBupa Travel Insurance
  • Bharti AXA Travel Insurance
  • SBI General Travel Insurance
  • Reliance General Insurance
  • Bajaj Allianz General Insurance
  • HDFC ERGO
  • Cholamandalam MS
  • IFFCO-TOKIO
  • Apollo Munich Travel Insurance
  • Royal Sundaram Travel Insurance
 
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