Annual Multi Trip Travel Insurance: Coverage, Claim & Exclusions

Updated: 29-08-2023 05:11:53 AM

Frequently travelling abroad for work or for leisure is quite common these days. To be safe during these trips, consider getting an annual multi trip travel insurance. For a frequent flyer, this type of travel insurance helps to cover emergency medical and non-medical expenses you might incur overseas.

What is Annual Multi Trip Travel Insurance?

An annual multi trip travel insurance is meant for people who travel overseas multiple times in a year either for work or on a holiday. The coverage starts from the day you start your trip till the next 365 years. However, each trip has to be limited to either 30 days or 45 days, depending on the provider and the plan chosen.

Types of Annual Multi Trip Travel Insurance

Individual Travel Insurance Plan: It offers financial compensation for emergency medical and non-medical situations which an individual might face in a foreign land.

Family Travel Insurance Plan: This travel insurance covers the entire family under a single plan. It provides protection against unexpected medical and non-medical expenses.

Eligibility Criteria 

An annual multi trip travel insurance policy is meant for:

• Individuals between the age of 18 years and 70 years
• Number of trips ranging from 3 to 5
• Travel duration ranging from 30 days to 60 days

What all Annual Multi Trip Insurance Covers?

The level of coverage differs from insurer to insurer. Listed below are some common coverage provided under annual multi trip travel insurance:

• Emergency hospitalisation expenses
• Loss of baggage/passport
• Compassionate visit
• Total loss or  delay of checked-in baggage
• Financial emergency assistance
• Home burglary
• Trip cancellation and delay
• Missed connection

Claim Process for Annual Multi Trip Travel Insurance 

• The insured or the beneficiary on the behalf of the insured needs to contact the emergency service provider (TPA) in case of any emergency assistance
• In case of hospitalisation, TPA will provide a guarantee to the hospital and the insurance company will directly make the payment as part of cashless claim facility
• In case of non-medical assistance, such as loss of checked-in baggage, passport, the insured needs to report the same to the police. Submit the original bills to the insurance company for reimbursement
• After verification, if approved, the claim amount is provided

Documents Required for Claim Process

Following are some of the common documents required for claim process:

• Duly signed in claim form
• Original ticket/boarding pass indicating the travel dates
• Original bills, receipts and prescriptions
• Copy of police report or FIR
• Physician’s report
• Property Irregularity Report (PIR) from the Airline in case of loss/delay of baggage
• Copy of the new passport in case of loss of passport

Note: This is not an exhaustive list and an insurance company might ask for other documents, if required

Time Taken to Settle Claims

From the date of receipt of all the necessary documents, it will take around 15-30 working days for the final settlement of the claim, if found satisfactory. In case there is any delay in payment, the insurance company will be liable to pay the interest. 

Exclusions under Annual Multi Trip Travel Insurance

An annual multi trip travel insurance provides comprehensive coverage, but it does not cover certain situations. These are called exclusions. Here are some events for which claims are not entertained.

• Pre-existing conditions
• Suicide, attempted suicide and self-inflicted injuries
• Travelling against the advice of a physician
• Mental disorders
• Stress, anxiety and depression
• Sexually transmitted diseases and HIV AIDS
• War, nuclear threat and war-like operations

Insurance Companies Offering Annual Multi Trip Travel Insurance in India

Below are some of the insurance companies offering annual multi trip travel insurance in India:

• Religare Travel Insurance
• HDFC Ergo Travel Insurance
• Bharti AXA Travel Insurance
• TATA AIG General Insurance
• Reliance General Insurance
• ICICI Lombard Travel Insurance
• Shriram Travel Insurance
• Royal Sundaram Travel Insurance
• HDFC ERGO Travel Insurance

Renewal Process

The insured can easily renew their Annual Multi Trip Policy. However, if you are above 60, insurance company might add loading charges on your policy.

Important Aspects

• Disclose your pre-existing medical condition, if any, before buying the policy
• In case of any loss, inform the insurer within 12 hours
• Extension of the policy is possible only on notifying the company 30 days before the due date
• Maximum liability of the insurer cannot exceed the Sum Insured (Cover amount you have chosen)

Advantages of Annual Multi Trip Insurance Plan

• Saves both time and money of buying new policy every time you travel overseas
• Provides coverage against medical emergency and hospitalisation expenses
• Most of the insurance companies provide cashless claim settlement in case of hospitalisation
• Some insurers offer home burglary cover which insures your home against theft, burglary when you are travelling

FAQs

Q1. I won’t be able to go on my trip due to some reason. What will happen to the ticket I booked?

In case you are not going on a trip due to some reason, you can cancel your flight tickets and claim the amount from the insurer.

Q2. Does it cover adventurous sports? 

An annual multi trip travel insurance plan does not cover adventurous sports and claims arising from such scenarios. However, if you are planning a sky diving or car racing during your trip, purchase a rider to ensure coverage for these situations.

Q3. How will this policy help if I lose my passport?

This policy will reimburse the expenses incurred in obtaining a duplicate passport.

Q4. What is deductible in my travel Insurance policy?

Every travel insurance policy comes with a deductible. In case of claim settlement process, deductible is the amount which the insured pays first. The claim amount is decided beyond the deductible amount.

Q5. Will I get a refund if I am not going on a trip? 

Yes. In such a scenario, the insured first needs to cancel the policy. After this, the full refund of the premium will be credited to the account of the insured.

Q6. What do we mean by personal liability?

In case you get involved in an accident or become legally liable for an injury to the third party, personal liability provides coverage to the insured in such cases.