Traveling can give you a break from your daily monotonous routine but it can also put you at many risks, especially if you are traveling abroad. to buy travel insurance In such a situation, planning comes in handy. These plans generally provide substantial financial protection against unforeseen medical and non-medical emergencies abroad.
However, before finalizing the insurance, you should research about the various policies available. Generally, there are two types of travel insurance plans: Single-trip travel insurance and multi-trip travel insurance.
Single-trip travel insurance plan provides financial protection against exigencies for only one trip- domestic or international. It provides coverage up to 180 days. Even if you travel to multiple destinations in a single journey, it will still be considered a single journey. The plan starts once you take a flight from your home country (India) and lasts till your return home or the end of the policy term (whichever is earlier). The duration of coverage may be different for different insurers. Typically, single-trip travel insurance covers cash assistance for loss of luggage or robbery, loss of passport, hospitalization expenses, emergency dental coverage, protection against domestic theft, loss of luggage, personal items and travel documents. Is.
A multi-trip travel insurance plan provides coverage for a specified period of time, usually one year, in which you can travel as many times as you want under the same plan. Like single-trip insurance, this plan also covers emergency medical expenses, loss of passport, trip cancellation, etc. However, some plans have limits on the duration of visits in a year, which varies from 30-70 days. Hence, you must read all the terms and conditions thoroughly before buying one.
Which plan to choose?
Both the plans offer the same coverage except for the term. The primary reason to prefer one over the other depends on the number of travel trips you make in a year. It would help if you took into account the duration of those visits as well.
Sanjeev Bajaj, J.T. Chairman and MD, Bajaj Capital Limited said, “Single Trip Travel Insurance Plan is ideal for those who undertake long trips abroad (more than 90 days) once in a year. day and ends after 365 days, irrespective of the number of trips taken. This type of travel insurance is suitable for people who travel frequently in a year for work or business purposes.”
Take the mint: When buying travel insurance, keep a few factors in mind as the coverage of the plan varies from country to country. For example, you need to consider destination, vacation duration, cash and valuables in your possession, medical expenses (which may arise from any sports and adventure activities), trip cancellations, and insurance plan limits and exclusions. needed.
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