Annual Multi-Trip Insurance

What is Annual Multi-Trip Insurance?

Also known as annual travel insurance, those travellers who need to make frequent trips abroad can save both time and money using these plans. Unlike single trip plans that offer protection only for a fixed duration, there isn't any restriction on the number of trips taken and the traveller is offered coverage under the multi-trip travel insurance.

These policies are suitable for people working in a multinational company or with a business of their own that requires frequent travelling. Other than necessary expenses such as flight tickets, accommodation and food, securing oneself under a travel insurance plan is equally important. They will offer all-around coverage and offer help in case of any medical or travel-related emergencies.

Why Choose Annual Multi-Trip Insurance?

Here is a list of advantages of annual multi-trip insurance:

• Provides cover for any or all the trips throughout the year. Last-minute trips can be opted for without hesitation as all uncertainties will be covered.
• Provides an automatic cancellation cover for all the trips in a given year. This means that if a trip is cancelled due to any reason, the insured can claim the cost of missed flights and hotels from the insurer.
• It saves extra cost and hassle of buying travel insurance during each trip.
• It covers overseas medical emergency expenses and reimburses for lost or damaged baggage.
• Offers easy renewability, financial support and clearance of documents.
• Provides several add-on optionals like adventure sports cover, etc.

Know More About Benefits of Annual Multi-Trip Travel Insurance

Features of Annual Multi-Trip Travel Insurance

There has been a steady increase in people travelling frequently for work and leisure. Many countries require visitors to have a relevant international travel health plan to ensure their safety and well-being in case something goes wrong while they're abroad. For people going on trips frequently and often urgently, buying a plan may only be a burden.

This is where an annual multi-trip insurance plan will come in handy. Take a look at some of their features:

• Covers Flight-related Contingencies: In case a flight gets delayed or a connecting flight gets cancelled, the insurer will offer compensation for the inconvenience.
• Free Look Period: This feature is only available with annual plans; in case of any objections to the policy the insured person can cancel the policy within the first 15 days of buying the policy.
• All-round Coverage: From medical expenses to evacuation costs, the policy will cover everything to keep the insured safe.
• Personal Liability: In case the insured needs to compensate the third party because of some accidental damage or harm caused by them, the insurer will cover these costs.
• Grace Period: Another special feature of the annual multi-trip insurance policy, is if the insured is unable to pay the due premium on time for renewal. They are usually offered 30 days after the due date to continue getting covered under the policy.

Fast Facts: Annual Multi-Trip Travel Insurance

Annual Multi-Trip Travel Insurance Eligibility Criteria

Annual multi-trip travel insurance is designed for the people who travel thrice or more in a year. Commonly the cover period ranges from 20 to 30 days of consecutive travel per trip. However, a few insurers offer extended periods of travel up to 60 days or more, but that might be applicable to some extra costs.

Any Indian citizen who needs to travel abroad more than 2 or 3 times a year can opt for this policy to avoid buying individual plans before each trip. These plans also offer worldwide coverage to people between the age bracket of 18 and 70 years. However, the eligibility may vary as some insurers also offer these plans for minors who may need to travel abroad frequently.

Things to Consider Before Buying Annual Multi-Trip Travel Insurance

Both single-trip insurance plans and annual multi-trip insurance plans have their specific benefits. Keep these things in mind before buying an annual travel insurance policy:

• If it is beneficial if the individual needs to travel often to different places
• If the individual has several numbers of days to travel
• If the individual will require worldwide coverage and unpredictable travel plans abroad
• If the person wants to save time and minimise documentation
• If the insured person wants simple and easy procedure in case of claims

Coverage under Annual Multi-Trip Insurance

The level of coverage varies from plan to plan and insurer to insure. However, on a general basis, the policies include medical cover, loss of baggage cover and cancellation cover. There are a few more covers in the form of comprehensive plans such as cover for valuables, holiday money, personal accident/liability cover, legal expenses cover and scheduled airline failure insurance.

Medical Cover

It covers the medical expenses incurred by the insured or their family members in case of any emergency due to any sudden illness, death or injury while travelling abroad. Expenses made for emergency evacuation to India in case of a medical issue are also covered by the insurer.

Expenses incurred for transporting the mortal remains of the insured back to their home or burial expenses abroad in case of an untimely death; anaesthetic dental surgery due to injury; injury due to accident; and compensation for permanent disablement or death while travelling as a passenger in the common carrier are all covered under this insurance.

Personal Liability

Personal liability coverage provides protection against liability towards any loss caused to a third party. This cover is especially beneficial for people travelling with kids.

Cancellation Covers

This cover helps in saving flight expenses and hotel bookings in case a trip gets cancelled. However, the cover amount should be so decided that it easily covers all the expenses, including the cost of prepaid excursions.

Cover for Lost Passport

This covers the cost incurred for obtaining a new or a duplicate passport in case the insured loses their passport.

For an additional premium, the policy can be customised by choosing cover options for:

• Sports cover for adventurous and risky activities like skiing, skydiving, paragliding, ski run-walking, and snowboarding. This also includes extra cover against injury and damaged or stolen equipment used for participating in the activity.
• Excess waiver covers so that the insured doesn’t need to pay any part of any claims that are made. In case of an injury happening as a result of voluntary manual work, the excess waiver option will not be applicable.
• Opting for the 60-day cover benefit is the most advantageous option as it offers an extended period of cover. Under these trips, up to 60 days or more are covered.

What’s Not Covered in Annual Multi-Trip Insurance?

Along with knowing the coverage options under an annual multi-trip insurance plan, it is very important to know and understand the exclusions as well. Here are a few examples of what is not covered under the annual multi-trip policy:

• The insured wouldn’t be covered for any pre-existing medical condition, unless it is a very serious or life-threatening disease
• Any expense arising out of the following situations will not be covered
  • Suicide or attempt to suicide
  • Venereal diseases
  • Self-inflicted injuries or illnesses
  • Stress, depression, or anxiety
  • Any mental ailment
  • HIV AIDS
  • Alcohol or drug abuse
• Any eventualities if travelling against the advice of the doctor
• Any expenses will not be covered if travelling to get treated abroad
• No coverage will be provided if the insured is suffering from a terminal disease
• Any expenses incurred due to theft or loss of passport due to carelessness or negligence or if the loss or theft is not reported to the local police.
• Coverage will not be provided for the circumstances arising out of war or nuclear threat in the country where the insured is travelling
• Any expenses related to any kind of emergency after the insured has returned to India, will not be covered under this insurance

Annual Multi-Trip Travel Insurance Claim Process

Raising a claim under annual multi-trip insurance is easy, be it abroad or once the insured is back to India. All the insured needs to do is to keep the relevant documents handy and stay in touch with their insurer so that they can navigate through these emergencies.

Most companies take 15 to 30 days to settle a claim, however, in the case of cashless hospitalisation or payment post-approval, they are settled abroad once all the documents have been received and assessed by the Assistance Service Provider.

If raising a claim after returning to India, don't forget to do so within the stipulated time frame. This is usually 30 days from the date of return of the insured, after which the claim may be rejected.

In case of loss, theft or other situations requiring compensation, it's necessary to lodge an FIR and inform the insurance provider at the earliest. Before making a claim, make sure to have reported the lost or stolen item to the police within 24 hours of the loss or theft.

How to Choose/Buy Annual Multi-Trip Travel Insurance?

Here are some important tips to use before taking out a policy:

• Always disclose any pre-existing medical conditions (if any) while buying the policy, and also any new medical complications faced during the policy term. This will avoid any rejection of claims later and give a proper estimate of the travel insurance premium.
• To get the full benefits out of the cancellations cover, buy the policy in advance, and check if there are any exclusions or excess on the policy.
• Don’t forget to compare different travel insurance plans online on Policybazaar.com to get the right plans under a budget.
• Ensure fact-checking such as the reputation of the insurance provider, claim-settlement ratio and customer reviews before the purchase
• Use a travel insurance premium calculator online to know the approximate premium cost
• Do consider a backpackers’ policy if planning to travel for a long duration of time or visiting several countries

Why Buy from Policybazaar?

Buying a policy online is not only easier but saves a lot of time as well as money. Browsing annual multi-trip insurance plans online can be easily done on Policybazaar.com where several insurance plans can be compared along with their coverage. Take a look at some of the reasons to buy from Policybazaar:

• Buying online from Policybazaar.com is cost-effective as costs spent on intermediaries and distribution is completely avoided
• The policies can be bought almost instantly, within a few minutes.
• Easy comparison of policies offers travel insurance plans sold by travel insurance companies in India, all in one place
• Buying from Policybazaar.com comes with several automated benefits like reminders, sale notification and toll-free assistance