Single Trip Or Annual Travel Insurance?
Published: 18 October 2011 By Peter Thompson Leave a Comment
Half term is almost here and many families will head off on holiday, but travellers are being warned to make sure they have the right travel insurance in place.
A holiday is of course an exciting time and it’s perhaps all too easy to forget to sort out the travel insurance or indeed the holiday travel money.
When it comes to insurance, research from MoneySupermarket.com found families who are regular travellers should take out an annual policy rather than opting for single trip cover.
This really applies to those taking two or more trips a year, or those going on a long haul holiday. Taking around three trips a year would typically cost 15% more than using annual cover*, even when comparing the cheapest available policies.
The research shows that levels of cover, particularly for medical expenses, baggage and cancellation, tend to be more generous on an annual policy.
Bob Atkinson, travel insurance expert at MoneySupermarket.com said: “It’s essential to make sure you and your family are fully covered before you go.
“Many people leave travel insurance to the last minute and often overlook the finer details such as the varying levels of cover available, only to be caught out later on if a claim needs to be made.
He added “Holidaymakers need to think carefully about how often they plan to travel per year and if it is more likely they will travel to a long haul destination such as the USA, then it is definitely worth paying for an annual policy.
It also gives flexibility if they decide to go on any last minute holidays or trips such as weekend city breaks abroad or in the UK, as they will already be covered.”
As an example, a family of 4 heading to the USA for a week can buy a comprehensive single trip policy for £26, providing £5,000,000 of medical cover, £3,000 cancellation and £1,500 for baggage.
For just another £12.98 you could get an annual policy. This would give you additional cover on your medical expenses (to £10,000,000) and give you an excess of just £75, compared with the £150 on the example single policy.
The end result would be that for less than £13 more you would have cover for multiple trips throughout the year and more comprehensive cover.
MoneyHighStreet comments: “As with any insurance, when you buy travel insurance you need to ensure you get the best cover to suit your needs. It makes sense though to carefully think about the number of trips you are likely to take in a year and if need be consider buying annual cover.
“Even though most do intend buy travel insurance, many delay doing so until near the time of travel. You should really buy it though at the time you book your trip – our article ‘When should you buy travel insurance‘ explains.”
*Based on a family of four taking three types of holiday trips in a year, one week long haul, two weeks European trip and one city break in the UK.