What is One Day Insurance and Benefits

There are situations where a constant insurance cover for a long term is of little value and seem financially unviable for example, if you do not own a car do you need to take a car insurance ? or if you are organizing a one day event, should you take an insurance? The answer in both case can be yes. You may need a car insurance even if you do not own a car but say when you borrow your friends car for vacation or relocation. Similarly even insurance can be safeguard interest in case of unforeseen dangers.

For this reason only there is one day insurance policies. One day insurance policies are applicable across many insurance types such as auto insurance, event insurance, etc.

Types of One Day Insurance

One day insurance represents a short-term insurance but it has vast diversification. Various types of one day insurance are as follows:-

One Day Event Insurance

Sometimes, people may need to go on a small trip along with their families and/or friends for one day. Moreover, there can be small function at home or in the office. Outside parties in hotels and other outdoor places can also be arranged. All these events are short in duration and may get finished in one day. At the same time, there are unforeseeable dangers associated with these one day events. Anything can go wrong with these events. One day insurance is required for helping people in overcoming these mishaps on financial basis.

There are differences between long-term insurances and one day insurance. There are long-standing advantages of long-term insurances but big things come in huge packages. Long-term insurance plans are quite costlier than one day insurance plans. Moreover, one day insurance can be purchased as per the requirement of the people. 

One Day Car Insurance

One day car insurance can play an important role if there are certain urgencies or friend borrowing the car and directly leading to an accident. Moreover, if car owners have more than one car and they do not drive that car on usual basis; then one day car insurance can come handy when that car is actually used.

Sometimes, people borrow cars from their friends and come across accidents. Afterwards, they become liable for reimbursing all the damages. One day insurance policy is also applicable for both the insurance holders who are either test driving the car or helping the driver during a long journey.

One Day Travel Insurance

One day travel insurance is applicable for people who go on a business trip or holiday for one day. This insurance can provide peaceful journey within affordable price limits. One day travel insurance provides short trip coverage within as well as beyond the country boundaries. People can either get it in the form of individual or family insurance. In one day family travel insurance, kids are covered for free.

One Day Insurance Benefits

Considering all types of one day insurance, there are certain common benefits for one day insurance. These benefits are:-

  • Instant coverage
  • Facility to add someone into the policy holder’s cover
  • Comprehensive coverage
  • Safe No Claim Bonus amount
  • Coverage from first to 28th day

However, there is specific variation in one day insurance benefits as per their categorized classification. We can broadly classify the one day insurance benefits as:-

One Day Event Insurance Benefits

One day event insurance provides specific accidental medical insurance for any event such as family picnic, parade, fundraise, pageant or school/college trip. For groups, there is substantial coverage for all the family members, participants and staff members. Along with medical coverage, there is specific coverage against particular loss and accidental death. One day event insurance benefits include:

  • no deductibles
  • dental injuries coverage
  • coverage for a specific period from one day to 6 months
  • coverage up to 3 years from the day of sickness or injury
  • economical premium rates
  • acceptance of electronic check and credit card payments
  • easy for completion insurance applications 

One Day Car Insurance Benefits

One day car insurance is activated when there is a sharing in driving, test driving of vehicle and temporary car for driving. There are certain advantages of one day car insurance which are:-

  • comprehensive cover
  • reasonable daily pricing structure
  • one day insurance policies for families and small plus large business groups

One Day Travel Insurance Benefits

One day travel insurance covers all the insurance holders all across the world. There are various benefits of one day travel insurance such as:-

  • free coverage for kids
  • lower premium rates
  • inclusion of various adventure sports
  • coverage for next 365 days after taking the insurance policy
  • exclusion of upper age limit
  • coverage for medical urgencies, lost/stolen belongings and travel delay reimbursements  
  • legal costing support and personal liability cover
  • trip cancellation coverage

Major One Day Insurance Companies

All the one day insurance companies do not cover event, car and travel insurance singlehandedly. There is a different insurance company for every category. These companies include:-

The Event Helper Inc

The Event Helper Inc. is around since 2009. Apart from organizing event, they have certain insurance brokers for providing one day event insurance to their clients. Their premium range begins at $75 and their comprehensive coverage extends up to $2,000,000. They carry out a complete event purchase program for eliminating the overheads related to the underwriting procedure. 

Berkshire Insurance

Berkshire Insurance covers insurance holders from risks associated with holidays and international trips. Berkshire Insurance offers following benefits:-

  • children travel insurance plans
  • students travel insurance plans
  • international travel urgency and medical assistance
  • coverage against the loss of baggage and passport
  • special insurance policies for senior citizens 

Visitor Insurance

Visitor insurance takes care of the one day travel plans of a nation’s residents in other nations. Under their policy guidelines, Visitor Insurance offers comprehensive coverage for assistance coverage, accidents, sicknesses and urgent medical evacuation. Visitor insurance is underwritten by financially highly rated firm named AIG. Visitor insurance provides coverage to visitors from USA, UAE, China, India and various other countries.