A number of fliers take out a flight insurance which are normally related to a single flight. However, those who fly frequently on business especially, have the option to take out a Multi-Trip Travel Insurance which not only saves them time but also covers any worries they may have on unforeseen developments during travel.
Features of the Multi-Trip Travel Insurance for frequent fliers
A typical Multi travel insurance plan covers trips made for 365 days or one calendar year, although it is suggested that days spent abroad should not cross 180 days as required under the IT Act for resident Indians. The coverage is similar to those available for single journey travel insurance but there are savings both in money and time as a Multi trip policy covers any overseas trip also during the pendency of the insurance while there are some age restrictions for such coverage, this insurance is open to any traveller as long as he is in good health. Some of the risks covered are as under:
- Loss of checked in luggage, passport and costs incurred for replacement.
- Trip delay, trip cancellation, missed connections/Departures due to reasons not attributed to the insured.
- Hijacking benefit, political risk at the destination and personal liability due to any related points covered under the policy.
- Compensation for any medical emergency while on tour
- Medical coverage for any accident or injury due to accidents not caused by own negligence
- Repatriation of mortal remains in case of an unfortunate death of the insured.
- Emergency cash provided if loss due to theft while travelling.
- Compensation in case the traveller’s residence is burgled while on travel
While such travel insurance covers most risks, certain aspects are specifically excluded as under.
- Any pre-existing disease not disclosed at the time of taking the travel insurance.
- All matters related to suicide or self-inflicted injury
- Loss of any article or documents due to insured person’s negligence.
- Any travel against medical advice, resulting in hospitalization at the destination.
- Travelling to receive medical treatment abroad.
All travel Insurance should ideally be bought before departure. Although frequent fliers may opt for Multi Travel Insurance at any time, trips will only get covered after the date of insurance. Many insurers have prescribed a time frame within which claims for any of the permissible factors such as delayed or cancelled flights, and delays may result in refusal of the claim or more protracted enquiries, leading to delays in reimbursement.
The biggest advantage of a Multi Flier Travel Insurance is that it covers all flights both domestic and international with risk coverage of any permitted eventuality that may occur during the period of coverage. However, there is no coverage available for routine activities on return to the home of the insured.