Travelling to a foreign land is an exciting experience, but it is vital to ensure that you prepare for the worst-case scenario with single trip travel insurance.
Those who travel often ensure that they have a backup plan if anything goes wrong, but for single-trip travellers, this might sometimes be the last thing on their minds.
Insurance coverage is essential whenever travelling overseas because it ensures that your medical expenses, hospital stays, trip cancellations, and emergency medical evacuations are all taken care of.
If you are planning your next destination trip, here’s what you need to know about single-trip travel insurance.
What Is Single Trip Travel Insurance?
This is the type of coverage you would need if you plan to go overseas. It covers a single trip that lasts up to a month.
Travellers can purchase a single-trip policy ahead of their vacation, but fewer insurers may be prepared to provide coverage if they do so with more than a year to go.
Whether you choose a solo, couple, group, or family policy, you can find a single-trip travel insurance plan that meets your needs.
If you are traveling to the United States, you should be aware that you may need to obtain a US B1/B2 visa in order to enter the country; you should consider the cost of US B1/B2 visa too.
The Pros and Cons of This Type of Insurance Coverage
If you are wondering whether this is the right travel insurance plan for you, you might want to take a look at the pros and cons.
- You’ll be covered for the duration of your stay for medical costs, adventurous activities, delayed luggage, and more
- Single-trip insurance is generally more affordable if you only go on holiday once a year
- This type of plan can be tailored to suit the unique needs of your next vacation
- Cover starts immediately, so if you need to cancel the trip, you can get up to $5000
- You can get coverage for your family or a travel group with one insurance plan
- It might not an ideal option if you intend to travel frequently in a year
- There’s more risk with single-trip insurance than with an annual plan since you may not be able to claim cashback if you bought the ticket before obtaining insurance coverage
- An extended trip could mean taking a new policy
What Does Single Trip Travel Insurance Cover?
When you are away from home, it’s easy to feel overwhelmed, especially when things go start going south. Fortunately, when you have travel insurance, you’ll have a backup plan to cover you while you’re away.
With this type of travel insurance, you’ll be covered for the following expenses:
- Medical care and hospital expenses
- Adventurous activities
- Baggage and travel delays
- Trip cancellation
- Emergency medical evacuations
Single Trip Travel Insurance Alternatives
When choosing a travel insurance plan, you’ll need to explore all your options to ensure that you have a suitable policy that offers the best value for money, so what are some of the alternatives you can look at?
A yearly travel insurance policy is an alternative to a single-trip policy. The vacations you’ll be taking will determine whether it’s a suitable option for you. It will likely be less expensive to purchase customized single-trip protection for every trip rather than a global annual plan if you wish to mix it up and travel to several different places.
Also, keep in mind that each trip during that year often has a maximum duration.
This means that each vacation you take cannot be longer than the number of days your insurance provider allows, usually 31 days. If you know that you will stay longer, you’ll need to look for a single-trip insurance plan that offers an extended stay.
Annual Travel Insurance Versus Single Trip Travel Insurance: Why One Should You Choose?
Suppose you travel overseas more than twice a year. In that case, purchasing annual travel insurance can be more cost-effective than buying two separate insurance plans. However, single-trip insurance can be more affordable if you only take a single vacation each year.
Get Travel Insurance with Bubblegum Singapore
Bubblegum Singapore is the company created by MoneySmart, and we have designed insurance plan that are affordable and well-rounded. To find out more about our single-trip travel insurance options, contact us today, and we’ll be happy to provide you with more information!