Which Should You Pick - Multiple or Single Trip Insurance?

If you plan to travel abroad, you will need to sign up for either single trip insurance or its multiple trip counterpart. The question, however, is which type of policy will work best for your purposes? Here’s a quick list of factors that can help you decide between one and the other.

1. Frequency – The first and most obvious factor is the number of times you intend to travel within 12 months. If you foresee multiple trips, then chances are that you’ll save a lot more on insurance premiums if you sign up for a annual policy. Single trip insurance, however, is more practical if you plan to make one or just a handful of trips throughout the year or if your current journey is brought about by external events beyond your control or foresight. 2. Distance – If your destination is far away from your home country you may find yourself more effectively covered by a single trip insurance plan (in some cases). Some annual policies only cover you for domestic or regional travel, with others limiting you to a certain distance from your home country. Nabbing a similar plan for long-distance international travel will cost significantly more if you don’t plan to stay abroad for weeks on end, making it sometimes more practical to just purchase a one journey policy.

3. Duration – Speaking of time, the length of your planned trips can be a factor that will influence your final decision too. A trip is defined as the period of time you spend abroad, and is immediately considered ended once you return to your home country – even if you stay for just a few hours. If you plan to stay abroad for a prolonged period of time with no plans to return anytime soon, a single trip insurance plan comes highly recommended. If you are unable to determine the longevity of your stay yet want to be prepared just in case you need to come back home on short notice, a multi trip plan is more practical.

4. Variety – This factor is closely tied to both distance and duration, yet it is still worth discussing in greater detail. It might sound like a good idea to choose an annual policy if you plan to travel to several countries all over the world, but this is not always the case as you may find yourself limited by the distance restrictions of the plan.

5. Activities – Last but not the least is the nature of your trip. Many multi trip insurance policies only offer the basic medical and evacuation coverage – not death, sporting, vehicular or property insurance. If you plan to engage in activities that put you at greater risk, you may be better off with a tailored single trip insurance package that clearly and unequivocally covers your planned excursions.

As with anything, being able to make an informed choice is your best option. Read up on the details and restrictions of your proposed policy to ensure it really fits your individual needs.

Patrick Chong is the Managing Director of Insuremore. We provide low cost travel insurance and offer a range of policies including single trip insurance, annual, multi-trip and family cover. For all your travel cover needs, Insuremore can help you in the quickest and most cost-efficient way.

Writer and Online Marketing Manager in London.