Can I buy annual travel insurance?

Some people travel a lot each year. It could be because their job involves a lot of travel. Others may have family abroad and go and visit them more than once a year. Some people like to take lots of short trips rather than one long holiday. And some people…. well, some people just like taking a lot of holidays and go away a lot.

The thing is that regular bog-standard travel insurance is normally for a single trip, where the insurer knows where you are going, for how long, and usually what you will doing, and can quote accordingly. But for those taking more than one trip annually, and in particular those who don't actually know how often they will be going abroad in a year, it will work out less costly to buy annual travel insurance that to purchase a number of individual policies.

The way it works on annual policies is this: you pay one standard fee, and this covers you for as many trips as you make in the following year. This saves you two things. The first is money, and the second is time and probably hassle, because once you have arranged annual cover, you don't need to arrange it again after the first time that year. In general, the cost of an annual travel policy is about 2.5 times that of a single trip, so if that works out better for you, then you should go for it.

Annual travel insurance is referred to frequently as multi-trip insurance as the insured people can take as many trips as they wish to yet still be fully insured. However, there are limitations on this, as UK travel insurance policies tend to insist that a trip or holiday can not extend beyond a determined time limit, which is normally 90 days. Also, some holidays that you might go on in that year could involve dangerous activities, and it is unlikely that these will be covered by a standard annual travel insurance policy. You must thus discuss with your insurer any special requirements that you have regarding your cover.

Annual travel insurance policies are quite cheap, relative to the cover that they provide. This is because it is actually quite rare that they are claimed upon. It is therefore important that you make sure you shop around as much as you can to find the best policy for you. Comprehensive travel insurance automatically covers you for personal liability, medical insurance, business trips and even rock-climbing and skiing. But before you pay money to the travel insurance provider you should make sure that you think very carefully about exactly what you want to cover with the policy before you set about trying to get it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

© AskFinancially.com 2008

Travel Insurance

Ask About

> Overview
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