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Which is better: single trip travel insurance or an annual policy? There are a couple of key factors to consider when trying to decide. Work out how many times you’ll be on holiday this year and how much a single trip travel insurance policy would cost for each trip. If you’re travelling to the United States, or plan to take several foreign holidays this year, then a multi-trip policy will probably be of benefit to you. However, if you’ve only got one European trip and another weekend break outside of the UK planned, then single policies will most likely be better for you. How Covered Do You Need to Be? It will simply be a case of sitting down and working out how much a few single trip policies will set you back compared to an annual one, depending on your needs. Do be careful, though, as not all annual policies are comprehensive enough to cover you for every eventuality. While there are a plethora of super cheap insurance policies out there, you have to make sure that they’ll provide everything that you need. Are you going outside of Europe? Check that your destination is covered by the policy. Will you be skiing or diving? Does your policy protect you for this sport? Think about the level of medical expenses cover that you may require, as well as having adequate cover for cancellation, baggage protection and your personal belongings. Individual Circumstances Anyone with an underlying health condition needs to make their insurer aware, and this is the case for both annual and single trip travel insurance policies. These days, there are plenty of policies for everyone; it’s just about finding the cover that’s right for you. Honesty is the best policy, and by declaring all medications and medical conditions, your cover will be tailored to insure you as best as possible. If you scrimp on the details, however, you may find yourself without any insurance at all. Retirement and Insurance For those of you lucky enough to be enjoying your retirement, you may very well wish to spend some of it exploring the world. While some providers are of the opinion that the risks are higher due to your age, you still can find good insurance that offers additional medical and emergency cover. Carefully read the terms and conditions of any policy before buying it, and don’t hesitate to call the insurer if you’re not clear about any of the points. Be aware of your budget and your own travel plans: will a single trip travel insurance policy be better value if you’re not travelling later on in the year? Look out for any extras that you may want to add to your policy. Do you think that you’ll be golfing? Then check that you can add that on. Some policies even let you add children and grandchildren to your policy, if you want to bring them along for the trip. Do the Maths and Ask an Expert Although it can be quite tedious, sitting down and working out the pros and cons of annual and single trip travel insurance could end up being of real value to you in the long run. For peace of mind when travelling, it’s well worth the investment. So what are you waiting for? Author Plate Patrick Chong is the Managing Director of InsureMore, an award-winning team of specialists in global, annual and single trip travel insurance policies. Besides offering great deals on travel insurance, Patrick also collects and shares the best free travel competitions to help his clients get the most out of their holidays.
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