One way travel insurance, as is quite evident, is travel insurance that covers just a single journey. In other words, it will either cover the trip to, or from the destination.
There is nothing strange or weird about one way insurance . Just as the old adage that proclaimed, “whatever goes up must come down” does not hold much water now, a person traveling to a destination need not necessarily come back to his/her port of departure from it soon enough.
Take for instance, a student who goes abroad for higher studies, or a columnist who is relocated to some Middle Eastern country for a period of 3 years. They need only one way travel insurance to cover the journey. Covering both ways would be honestly, quite meaningless.
Such an insurance plan will cover for emergency medical transportation or help, a sudden declaration of insurgency in a foreign country and the aftermath, terrorist attacks, state of seize in a terror stricken country and others like this. The policy will also cover medical expenses if you have to be hospitalized while you are away traveling. In fact, there is hardly a difference between a regular travel insurance policy and one that provides coverage for just a single way.
How It Works
Your one way trip travel insurance will become effective as soon as the insurance company receives your application. Let us suppose that you made the payment at 12.01 am. The coverage will begin earliest at 11.59 pm on the following day. But do ensure that you are not traveling before you actually get your policy.
Benefits of One Way Insurance
For those who are going to settle down in a foreign country for sometime, the benefits of one way insurance could be many. First of all, since it is a one way coverage, the premium you will have to pay, will certainly be lesser as against a round trip. This will save you money.
And secondly, any medical emergency or exigency in a foreign country, or even in the same country, and also the expenses incurred because of the emergency, can be taken care of by the insurance company.
Quite frankly, why would you opt for the conventional travel insurance and pay more for it, when you already know that you will be traveling just one way, and don’t intend to come back soon enough. When you return, you can buy another one way trip insurance. This is indeed the smart move.