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