Why multi-trip travel insurance is better if you're travelling frequently

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As the fear of terrorist strikes in major tourist destinations grows, taking travel insurance has become imperative. Recently, London suffered two terrorist attacks within a fortnight. At the beginning of the year, a similar incident happened in a nightclub in an Istanbul, Turkey.

For frequent travellers or those who holiday with family abroad two-three times a year, opting for an annual multi-trip (AMT) travel insurance makes more sense than buying a policy every time you travel. “The multi-trip policy comes out to be cheaper if the individual travels abroad two or three times a year,” says Anurag Rastogi, chief actuary and head–retail underwriting and claims, HDFC ERGO General Insurance Company.

The features offered in AMT travel insurance are same as those provided in one-time travel insurance plan. “The premium varies depending on the number of days a traveller stays abroad,” says Sasikumar Adidamu, Chief Technical Officer–Non Motor, Bajaj Allianz General Insurance. For example, if someone in the 41-60-year age group takes a $500,000 cover, the premium is Rs 4,700 for plans that limit the stay to 30 days for each trip, and Rs 5,100 for plans with a 45-day cap.

Business Standard

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