Single Trip vs Multi Trip Travel Insurance

Everybody loves to travel to foreign countries. Some travel once and some are frequent travelers. Travel insurance is the last thing that comes to the mind of not so frequent travelers. If you are a frequent travelers, you must be aware of how important travel insurance is and how it can come to your rescue during emergency. You can be financially secure against medical emergencies, flight cancellation, baggage loss etc. This gives you a reason for, "Why to have travel insurance".

Travel insurance are of two types -

1. Single Trip Insurance
2. Multi Trip Insurance

A Single Trip is when you are leaving home, traveling for a time, then returning home. It doesn't matter if you will be going to multiple countries. This is still considered to be a single trip, as you will be leaving home and returning home only once.

Multi-trip coverage is purchased on an annual basis. These policies cover you for the period of one calendar year beginning on the effective date you enter when getting a quote or purchasing coverage. They provide protection when you leave home and return home multiple times over the course of the year.

	Single trip travel insurance	Multi trip travel insurance
	It covers an individual and his family for a single trip. The insurers don’t consider it a multi-trip if you are traveling to multiple countries consecutively. They will count it a single trip if you leave home and return home only once.	It covers the insured on any number of trips during the time span of one year.
	It is suitable for individuals who travel overseas once in a year. For example: Traveling for holidays.	It is suitable for frequent fliers who embark upon multiple trips during the course of a year. For example: Traveling for business purposes
	Premium is low if you have one trip once a year but can be expensive if you have more than two trips in a year	Premium is more as it is covering you for one complete year.
	The maximum limit for a single trip under the single trip travel insurance policy is 180 days.	The maximum limit for one trip under the multi trip travel insurance policy can range from 30 to 45 days.
	The coverage is initiated from the day insured commences the journey and spans for the entire duration of the trip or policy ended whichever is earlier.	Multiple trip travel insurance covers the insured from the starting day of the policy till the next 365 days.
	This policy allows you to customize the plan to match the needs of your every trip.	Same plan has to be used for different trips in a year.
	You need to search best policy each time by reading the terms and conditions.	You don’t have to go through the process of registering for the insurance, as a multi trip travel insurance policy takes care of travels throughout the year.
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Benefits of Single Trip Insurance Policy

Single trip insurance comes with numerous benefits, which include:

• The premiums of this insurance type are usually cheaper than multi-trip insurance.
    
• Some companies may provide refund related to single trip insurance if you cut short your trip.
     
• The maximum number of days in one trip is usually higher than that of multi-trip insurance.
     
• They are more specific. This means if the nature of your trips varies substantially, you can go for single trip, as you can customize the plan to suit your journey.
     
• You don’t have to worry that your premium will be wasted if you are unable to go for subsequent trips.
     
• The restrictions related to minimum and maximum eligible are less.
    

Benefits of Multi Trip Insurance Policy

There are numerous benefits that make multi-trip insurance so popular:

• You stay prepared for trips that may take place due to personal or business emergency.
    
• You don’t have to go through the complicated process of selecting the insurance plans and reading their comprehensive brochures each time you go for a trip.
     
• This insurance becomes economically feasible if you have to travel abroad regularly for work-related purposes.
     
• Some policies even cover for adventurous activities, such as paragliding and skiing.
     
• Some insurers, like Reliance General Insurance, give you coverage for trips that may extend up to 365 days.
     

When purchasing single trip insurance, it is only necessary that you list the country you will be in the longest, or if you are traveling somewhere that is considered a restricted country, you would want to list that to make sure you will have coverage. For example, if your are traveling to South Africa (longest stay) and Nigeria (small stay) than list Nigeria, as some policies consider it as a restricted destination.

After deciding the type of travel insurance you need, go online to check the plans of different insurers to finalize the best one with maximum features and benefits.

Happy and safe travel!!!