If you are a frequent traveller, you might have an annual multi-trip insurance plan. But, does your travel insurance policy covers all the requirements for all your trips? The requirements out of travel insurance are different for every individual. Someone travelling for business purpose will have different requirements from someone travelling for leisure.
Also, many annual multi-trip insurance plans do not offer risk coverage for all or many destinations. However, people often tend to ignore such details and end up buying annual multi-trip insurance policies only to realize that they would need to buy an additional travel insurance policy for some specific trips. Hence, they dig into their pockets and buy a separate single trip cover plan.
In order to ensure you buy the right and the best possible annual multi-trip insurance policy, we would like to share some tips in this article:
Individuals who do a lot of business trips with expensive gadgets like laptop, notebook, etc. may need to opt for extra coverage for such items. Chances that the personal items cover, included in your annual multi-trip insurance, will be sufficient for such items are rare.
Before picking up any travel insurance plan, ensure the insurance provider offering that plan is regulated by the government.
Not all travel insurance companies in India offer annual multi-trip policies for domestic tours. Therefore, if your business trips are majorly within the country, then make sure your plan covers you for the same.
Find out about the deductibles or excesses involved in your. This is an amount insurance companies deduct before paying you.
Find out which all destinations does your travel insurance company covers and does not covers. There might be limitations followed by your insurance company on this front.
Read through the policy details to know what are the number of days allotted on each trip. Generally, travel insurance companies offer cover for 21 days to 60 days for single trip, choose the policy which meets your requisites the best way.
Know your payout ceilings. This is the maximum amount you would get from the insurance company towards your personal items. Also, find out about the limitation on each item.
Few insurance companies may ask you to mention about pre-existing medical conditions, if any. Check on this aspect and share the right details, as by not sharing the right information you may face problem at the time of claim.
It is generally considered wise to have trip cancellation cover in a travel insurance policy. During an uncertain situation your trip may get canceled or postponed, which if not covered may turn out to be heavy on your pocket. Therefore, check that the cancellation cover included in your annual multi-trip insurance policy is sufficient for all your trips.