Annual or Single Trip Travel Insurance which one Should you Buy?

There are two types of travel insurance plans available – annual trip and single trip. See what most suitable for you as per your travel needs and buy accordingly.

When you plan a trip abroad, a travel insurance plan is a must. The international travel insurance is of two types  – annual or multi-trip and single trip insurance. By the end of this article, you will know which one should you choose and why? Take a look.

What is a Single-trip Insurance Plan?

A single trip insurance plan is issued for a one-time round trip. The plan is usually available for a maximum of 180 days. It starts after you board your flight from India and ends after the duration specified in the policy document i.e.180 days or when the policyholder’s trip ends, whichever happens, earlier. Since the cover is available for a shorter duration, this type of plan works.

Who benefits from a Single Travel Insurance Plan?

A traveller who is travelling only once or twice in a year should opt for a single trip insurance each time. There is no need to buy an annual plan unless you are confident of travelling multiple times in the same year.

What is a Multi-trip Insurance Plan?

An annual or a multi-trip insurance plan is a kind of travel insurance where you can make multiple trips in a year under a single policy. This means that you don’t have to buy individual plans for every trip you make. The multi-travel plans often work out to be cheaper for frequent fliers. If however, you don’t plan to make multiple plans in a single year, this type of plan may not be suitable for you.

Who Benefits from an Annual Travel Plan?

As the name suggests, a traveller who makes multiple trips in a single calendar year benefits from an annual travel plan. Whether you have to make many official trips or you simply have a long list of vacations planned out, taking an annual travel plan will considerably bring down your insurance costs.

Things to Consider When Buying Travel Insurance

Now that you know what differentiates the two types of travel insurance, you have to choose your plan carefully before you start your journey. Some of the points to consider are:

  • Duration of the stay: If you are going on a long trip, which may last more than 180 days, then a single travel plan may not suffice. In that case, you have to look at the annual plans to see if you get coverage for a longer period.
  • The number of trips: This is quite obvious. You have to see how many trips are lined up. Buy the travel plan accordingly.
  • Costs: Calculate the costs of the travel plans. If you have just two or three short trips to make, calculate the costs of two or three individual plans and equate them against the cost of an annual plan. Obviously, go for the more economic option.

Getting an Appropriate Travel Plan

It is very important for you to choose the correct kind of travel insurance plan right at the offset. Some journeys are spontaneous and unplanned and we can’t do much about those in advance. However, most major foreign trips are pre-planned and if you have proper knowledge about your travel schedules, buy insurance accordingly. Getting the right kind of travel insurance will not only save you a lot of money, it will also make your travels more safe and secured. So go ahead and see which type of plan you need. Then run a quick online comparison to find the most economic option. Once that is done, pack your bags and get set to enjoy your trip to the fullest!

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