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Annual Or Single Trip Insurance

  • Author :
  • TATA AIG Team
  • Published on :
  • 27/07/2022

The excitement that fills your heart when leaving for a trip is one of a kind. But sometimes, you may encounter an unfortunate event that may spoil your trip. This can be a medical emergency, an unexpected lockdown, a natural disaster, etc., leading to delays or cancellations. This is why a travel insurance policy is a must-buy before you plan to travel domestically or internationally.

Travel insurance provides a cushion against any unfortunate event on your trip. It also offers financial coverage for the following:

  • Trip cancellation or delays
  • Lost passport, luggage, cash, or other documents
  • Hospitalisation expenses in case of accident or medical emergency
  • Home burglary
  • Dental emergency
  • Personal liability
  • Evacuations
  • 24/7 assistance

Some of the items not covered under a travel insurance plan include high-risk activities, such as bungee jumping, rock climbing, accidents under the influence of illegal drugs, etc.

What is the Difference Between a Single Trip and Annual Travel Insurance?

Single-trip and multi-trip travel insurance are the two most common travel insurance policies available in the market. Understanding their differences can help you select the right one.

  • Single Trip Travel Insurance

If you are not a frequent traveller, then single trip travel insurance can be the ideal choice. Single trip travel insurance covers financial losses for both international and domestic trips. The plan offers coverage for upto 180 days beginning from the time you leave for the trip. But, the number of days covered may depend on the insurance provider. The coverage period in a single trip policy ends when you return to the country or your hometown.

  • Multi-trip Travel Insurance

It might be costly to buy a travel insurance plan every time you leave for a trip. You can consider buying a multi-trip travel insurance plan to save time and money. Travel insurance for multiple countries is designed for international travellers who travel often. The travel policy offers coverage for 365 days. The insurance plan covers you for any number of visits you make in a year. The coverage for a single trip under annual travel insurance is offered for 30 or 45 days. So, the plan may not be applicable if you wish to stay for more than 180 days in a single place.

An annual travel insurance policy is suitable for people who travel for business purposes and do not stay for long in one place. Instead of doing paperwork and research about travel plans every time, it can be better to pick an annual multi-trip travel insurance plan that lasts throughout the year.

Here is a quick list of differences between single trip and annual trip insurance plans:

Single trip insurance Annual or multi-trip insurance
Validity of 180 days. Validity of 365 days.
Suitable for individuals who travel once a year. Suitable for individuals travelling more than once a year.
Premium is usually low. Premium is higher as the policy is valid for a longer time.
Plan customisation option according to every trip. No choice of plan customisation. A single policy for the whole year.

Annual or Single Trip Insurance: What to Choose?

Now that you know the features of a single trip and a multi-trip travel insurance plan, you can consider buying either of the two based on your needs and frequency of travelling. Here are some points to remember while choosing a travel insurance plan for yourself:

  • How many trips do you plan in a year?

One of the essential things to consider is the number of trips lined up in a particular year. So, if you know you need to travel multiple times in a year, choose multi-trip travel insurance. But if you plan to travel only once, then go for a single trip insurance plan.

  • For how long will you stay?

If you wish to stay for more than 180 days, a single trip plan may not be the ideal choice. For trips of more than six months, you should consider buying a suitable annual insurance plan that will cover you for more than 180 days at a single destination.

  • What is the cost of each plan?

Whether you have a single trip or a multi-trip lined up in a year, you need to analyse the costs of all plans and move ahead accordingly. If you have planned multiple short trips, you must calculate the cost of single trip plans for each trip. Then, compare their cost with a multi-trip or annual travel insurance plan. The premiums for an annual plan are usually higher than a single trip plan. So, go with the cost-effective plan.

Conclusion

Choosing the right travel insurance policy is essential to face uncertain events without financial losses. Sometimes trips are planned spontaneously, and you might not get time to buy a travel insurance policy. But most of the time, the travelling schedules are pre-planned. So, prepare yourself for any risks and make your journey safe and smooth with a travel insurance policy. Analyse multiple factors of your trip and buy a plan that suits your needs. Also, ensure you compare travel insurance plans online and choose the most economical one.

Tata AIG provides a range of travel insurance plans with multiple coverage options. With single trip insurance or a multiple trip plan, you can opt for features such as comprehensive coverage, personal liability coverage, compensation for dental costs, etc. You can also buy a family travel insurance plan if you are planning a trip with your loved ones. Moreover, with an easy travel insurance claim process, Tata AIG provides customised travel plans for senior citizens and students, too. So, make sure to buy a suitable travel insurance plan before you pack your bags and head to your next travel destination.

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