What is multi trip travel insurance?

Some people, for various reasons, go away more than once a year. This may be due to work sending them away regularly or at least frequently. This could also be due to having family spread around the world, or maybe just an ability and a willingness to go away a lot! The point is that if you do go away a lot, and get single trip travel insurance every time - it can really add up, and be almost economical. Seeing this as a problem, it was Columbus Insurance who, in 1994, came up with a multi-trip insurance policy where you pay at the beginning of the year, and you are then covered for an unlimited number of trips. There are some restrictions to this, which we will cover later, but lets look at the benefits of multi-trip travel insurance.

Firstly, the hope is that you get cover which is better value per trip than single trip cover for each trip. This is assuming you take the time to shop around for the most competitive deal. Some multi-trip travel insurance policies will make the assumption that one of your trips will be skiing, in which case they will include automatic cover for winter sports. Check your policy for this - as if you are not likely to undertake winter sports then buying a multi-trip policy with cover for winter sports will make you over-insured, which can be a waste of money. On the other hand, should you know you want to go skiing or undertake winter sports, you must make sure that your multi-tip travel insurance policy includes it, or you will be underinsured, which is far worse than the other way around.

The next benefit is that you should be able to take an unlimited number of trips during the year that you are insured with multi-trip insurance. However, this may be limited. For one thing, there is often a limit on the length of one trip, which may be 90 days or 60 or 30 days for one trip. The other possible limit is that you can only take a certain number of days away in total covered by your one travel insurance policy. This is just to make sure that the risks that the insurer is taking are manageable.

You should also look into other benefits which come with the multi-trip travel insurance policies for maybe an extra added premium. These could be motoring assistance within Europe, cover for business travel, cover for a 2nd adult who may be travelling separately sometimes but on the same policy, maybe some increased personal luggage cover should you need to take valuables with you, an extension of winter sports cover duration, and an option to not pay an excess.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

© AskFinancially.com 2008

Travel Insurance

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> Overview
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