What is Multi-Trip Travel Insurance?
With the rise of affordable vacations thanks to homestays and home swapping, there has been a rise in the number of vacations and trips individuals make over the course of a year. No longer is a trip just about the annual family vacation anymore. Short getaways and breaks are also gaining in popularity, with everyone from students to pensioners jet setting off on a whirlwind trip every once in a while. The number of people travelling for business has also seen a rise, contributing to a significant chunk of revenue for the travel industry.
Whether you’re travelling for business or pleasure, you would want your trip to go off without a hitch. Flight delays or cancellations, lost baggage or accidents could mar even the best-planned trip. To avoid having to run around and shell out a small fortune to rectify these issues, you could opt for travel insurance. By signing up for it, the burden of cost for such mishaps would fall on the insurer, so you can focus on just the purpose of your trip.
For frequent travellers, annual multi-trip travel insurance would be the ideal solution. Every trip taken in the year would be covered under the plan, a convenient alternative to taking out a travel insurance policy each time you travel.
Features and Benefits of Multi-trip Insurance:
- Unlimited number of trips: multi-trip insurance would provide you will coverage for an unlimited number of trips in the given year.
- Cost saving: Even if you travel only twice or three times a year, taking out a multi-trip travel insurance would be a better option as you would not have to pay for travel insurance twice or thrice.
- There are chances you could fall ill while on your trip, resulting in you needing to visit a doctor or a hospital. Medical costs abroad are prohibitively expensive, and your entire budget could be spent on paying medical bills. With travel insurance, certain basic medical expenses are covered, so you would not have to pay a hefty amount to be treated.
- In case of loss of passport, the insurer would cover the cost of a replacement.
- If your checked-in luggage is lost by the airline, you would be compensated the total cost.
- The insurer would compensate in the event of death or permanent disability arising out of an accident while travelling aboard a common carrier.
- You would be reimbursed the expenses you incur if you miss a connecting flight as a result of a delay of more than 3 hours.
- If you lose your money while travelling, insurers would provide you with access to funds.
- If a trip is cancelled or postponed because of medical reasons, due to the airline, natural disasters or reasons arising for personal employment factors, the insurer would reimburse you expenses incurred.
- Insurance in the event your home is burgled while you’re abroad on travel.
- If your trip is delayed by more than 12 hours due to natural disasters, the airline, personal employment reasons or medical factors, you would be compensated for expenses you incur.
- Costs incurred due to transportation of the insured’s mortal remains in the event of his/her untimely death while travelling.
- Expenses incurred during an emergency medical evacuation to India.
- Some insurers allow you to club your family’s travel insurance under a comprehensive plan, thereby reducing the cost of insurance premiums.
- In the unfortunate incident that your plane is hijacked, you would receive compensation from the insurer for the distress caused to you.
Note: The above features are indicative of the various covers offered by travel insurance companies, and are subject to inclusion/exclusion depending on the policy and insurer chosen.
Best Multi-trip Travel Insurance Companies:
- Reliance General Insurance
- Tata AIG
- Bajaj Allianz General Insurance
- HDFC ERGO
- ICICI Lombard
- Cholamandalam MS
- Future Generali Insurance
- Bharti AXA Travel Insurance
- Apollo Munich Travel Insurance Plans
- Royal Sundaram Travel Insurance
- SBI General Travel Insurance
- Max Bupa Travel Insurance
- Aegon Religare Travel Insurance
Multi-trip Tavel Insurance Policy Eligibility Criteria:
The eligibility criteria for multi-trip travel insurance varies from one insurance company to the other. Travellers can choose a annual multi-trip travel insurance policy if they are between the ages of 3 months to 70 years. However the eligibility differs for certain countries. For example, Schengen countries allow a multi-trip travel only for travellers up to 50 years of age. Those above 50 years of age who wish to travel to those countries would have to purchase a single-trip travel insurance policy.
Multi-trip Travel Insurance Plan Exclusions:
There are a list of exclusions that would not be covered under a travel insurance policy, which are listed below:
- Pre-existing medical conditions and claims arising out of them are not covered.
- Expenses due to suicide attempts or self-inflicted injuries, mental disorders, HIV/AIDS, anxiety or depression.
- Expenses incurred as a result of alcohol or drug abuse
- Treatments like naturopathy, Ayurveda or homeopathic treatments.
- Expenses incurred when travelling to receive medical treatment.
- Travelling against medical advice
- Nuclear threats or a state of war in the country being visited.
- Any lost property that has not been reported to the local police.
- Partial loss or damage to checked-in luggage.
- Expenses incurred due to participation in potentially harmful or hazardous activities.
- Sport activities
Multi-Trip Travel Insurance Claim Process:
- In case you have to undergo medical treatment while travelling, it is advisable to check if it would be covered under the policy you opt for.
- In the event of theft or your property being stolen, lodge a complaint at the local police station and keep a copy of the report. The insurance company will require you to submit it while filing your claim.
- Call the insurance company as soon as possible. Most insurers can be reached through toll free numbers or you could also file your claim by email, the details of which would be mentioned on the policy. Some insurers have tie ups with global firms to settle claims overseas.
- Generally the insurance representative would take some basic details about the incident and send you a claims form to be filled out. It is advisable to stick to the truth when filling in the form and provide supporting documents wherever necessary. In the case of theft, you will have to submit a copy of the police report, for lost baggage this would be the “property irregularity” form from the airport.
- On sending the claim form and additional documents, the company would assess the claim. This process takes around 15 working days, and you will be notified as to the status of your claim by the company.
- If you have chosen a policy by Reliance Insurance, for example, and you have misplaced your passport or it has been stolen, you will have to file a complaint at the nearest police station, and report to the Indian embassy. You should also notify the company immediately. You would also be required to submit copies of your air tickets as well as the police report, after which Reliance would cover the cost of expenses incurred to issue a new passport.
Multi-trip Travel Insurance Plan FAQs:
- What medical emergencies are covered under the medical claims?
Generally, in-patient and out-patient services are covered under the travel insurance policy, if they cannot be deferred until a return to India. Any treatment recommended by the doctor at the hospital such as X rays, tests, and other diagnostic tests are covered. Ambulance and transportation to the hospital charges will be covered as well.
- What are the medical exclusions under the policy?
- Pre-existing medical conditions
- Treatment that can be delayed until the policyholder is back in India. This would be decided by the physician and the insurance company.
- Cancer treatment costs, unless they are emergency measures necessary to save the policy holder’s life or relieve pain.
- Pregnancy or childbirth related expenses.
- Cosmetic or plastic surgery expenses.
- Expenses related to recuperation at a resort or spa
- Can I file a claim once I return to India?
Yes, you can also file a claim on returning to India, provided it is filed within 30 days of your return or the end of the particular trip under your multi-trip insurance policy.
- How do I find the best multi-trip travel insurance policy?
You could visit a site like BankBazaar to compare and get the best quotes on multi-trip travel insurance policies.
- Can I apply for an insurance policy online? What is the procedure?
Yes, you can apply for a travel insurance policy online. You would have to provide details on your trip, listing the countries you would be travelling to, along with your contact details such as name as per passport, date of birth, mailing address, Indian telephone number as well as passport number.
- What is the limit on the claims I can make while travelling?
Since every insurance company would have different limits, for a list of the maximum amounts that would be reimbursed for a claim, you should refer to the guidelines in the policy document.
- If I extend my trip, would I be able to extend my travel insurance?
Yes, you can extend your insurance in the event of your trip being extended. You will be required to submit an “Extension Form” a few days prior to the scheduled end of the particular trip and your insurance will be extended for the specified period.
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