The Annual Multi Trip policy is ideally suited for frequent travellers who travel multiple times every year. The insured can purchase a single policy for 365 days during which period he/she can travel as many times as they need to, without having to worry about the coverage for each trip. Most insurers offer an annual coverage with each individual trip having a duration upto 30 or 45 days, that the insured can choose from depending on their travel requirements.
The Annual Multi Trip policy is also an economical option when compared to purchasing individual single trip policies each time they travel. In addition to this, it offers the traveller complete peace of mind for the entire year, not requiring them to remember to purchase a single trip policy each time they need to travel. In terms of coverages also, the Annual Multi Trip plans offer the insured a comprehensive range of benefits to take care of any exigency (both medical and non medical) when they are traveling.
According to an Amadeus report in Asia Travellers with specific focus on the India Traveller, in terms of frequency of travel abroad, almost 55% of all travellers make atleast 3 trips abroad and 10% within this travel more than 8 times each year. This 55% are ideal candidates for an Annual Multitrip Policy.
Depending on the number of foreign trips that a traveller makes every year, they can opt for a single trip insurance plan or a multitrip insurance policy. An Annual multi trip insurance plan is an Annual policy issued to a frequent traveller and this policy covers the traveller for any number of trips that they make during this period of one year. The advantages of a frequent travelling opting for an Annual Insurance policy is:
An Annual Multi Trip (AMT) travel insurance plan is suited best for travellers who frequently travel for their business/leisure purposes. An AMT plan is typically issued for 1 year (365 days) and has options of capping each trip to 30/45/60 days.
This means that if the traveller opts for an annual policy with a 45 day trip capping, they will remain covered for each trip during the year upto a maximum period of 45 days. Once the applicable premium is paid by the traveller, an annual policy is issued and this covers the insured traveller for the entire period of 365 days irrespective of the number of single trips that he/she makes during this one year period.
The advantage of an AMT is i) it is more economical to the traveller than buying a single trip insurance policy every time they travel…ii) they do not have to remember each time their travel to buy an insurance cover and hence don’t risk being uninsured when abroad.
Here is a list of the salient features of the advantages of annual multitrip plan:
Some of the coverages included in the Annual Multi Trip policies include:
Coverage for in patient and out patient medical treatment for both sickness and accident related situations.
Shifting the insured to another hospital for treatment and Repatriating the mortal remains of the insured in case of death whilst travelling.
Compensation for reasonable expenses incurred, whilst overseas, for purchase of emergency personal effects like toiletries, clothing, medication etc. due to late arrival of checked in baggage on account delay or misdirection by the common carrier
This benefit will reimburse the insured for loss of checked in baggage in the custody of the common carrier subject to the policy limits in the chosen plan.
If due to an act of negligence or otherwise, any property damage caused by you to a third party resulting in the said party filing a suit against you, the said claim is payable under the Personal Liability section of the policy. Similarly, if as a result of an accident any bodily injury caused to a third party, resulting in a law suit, then the medical expenses incurred by the third party is paid for by the policy under the Personal Liability section, upto the policy limits specified in the policy.
This benefit will reimburse reasonable expenses incurred by the insured to obtain a duplicate passport from the Indian embassy abroad.
The Insurer will pay loss of deposits/advances (unused, non-refundable cancellation portion ) already paid to the hotel/airline/cruise etc if prior to the departure date, your trip is cancelled and you are prevented from taking the trip due to a sickness, injury or death to: you; your traveling companion; your immediate family member; or your traveling companion's immediate family member.
The insured will be reimbursed reasonable expenses due to Missed Connections/Departure by airline/train, on your return journey, during the course of an insured trip. The delay needs to be on account of 1) inclement weather or 2) strike by employees of a common carrier or 3) equipment failure of the common carrier.
The Insurance company will reimburse the insured the hotel booking / airline ticket difference if the same is bounced due to over booking. Wait listed booking will not be compensated.
|Annual Multitrip Travel Insurance Plan|
Insurance Companies offering Annual Multitrip travel insurance