You must be gaping whether which one between annual travel insurance or single trip insurance would work on your favour. Deciding out which plan you to get, however, is a matter of understanding what you need to safeguard on your travel.
Which Is Cheaper?
This is based on how many times you’ll take a trip within a year. If you’re certain to go for one or two holidays overseas, then a single trip policy will suit your needs.
However, if you plan to take several voyages overseas then an annual multi-trip policy could be more affordable for you. It can help you cut travel insurance costs.
Single Trip Travel Insurance
It is a travel insurance policy that covers you for a single trip abroad. This requires you to confirm your destination, set off date, and the end date of your trip. This will only can cover you on your specified destination within the set period.
Pros
Cheaper than annual cover
Cover-specific based on your trip
Can hold a higher maximum age than annual cover
Cons
Can be expensive if taken per trip
Shorter-term cover
The policy is just for one time travel
Annual Travel Insurance
This type of insurance is also referred to as multi-trip travel insurance, which covers you each time you travel in a set period that is usually 12 months. When applying for an annual cover quote you are required to confirm your destination. You ‘ll also be provided with choices between:
Europe
Worldwide excluding USA, Canada and all Caribbean islands
Worldwide including USA, Canada and all Caribbean islands
Your cover also includes travel to countries in those areas. For instance, if you preferred Europe and progressed to Asia you would NOT be covered. Also, it can cover any domestic voyages you take within the UK.
Each trip has a certain limit in terms of the number of days you can stay. Several policies will cover an exclusive trip of up to 31 days. This means you would be covered for a couple of trips of 31 days or less but not exceeding 32 days or more.
Some offer terms of 10 days or up to 90 days; so, review the policy thoroughly before you get it.
Pros
Can be cheaper per trip when travelling several times
You don’t have to get policy each time you travel
Covers your trips in the UK
Cons
Has lower maximum age most often
Your cover would not be specific per trip
It can be expensive if you only travel once or twice
What Can Single and Annual Trip Travel Insurance Cover?
Similarly, these two types of travel insurance policy can cover:
Medical expenses
Cancellation
Repatriation
Baggage or belongings
Personal money
Review each policy thoroughly since not all insurance providers covers the standard needs. Also, compare how much you are covered for.
Check our guide to travel insurance to know more and compare best deals here.
Other circumstances to consider :
Winter sports: Adding winter sports to an annual policy could make it costly than single trip policies, particularly if you ‘ll just do it once.
Pre-existing medical conditions: You must disclose any health conditions when you apply. Annual cover with medical conditions covered can be costly, so check to see if it is cheaper to get an individual single trip.
Your age: Several insurers will not offer annual travel insurance for travellers past 75 or 80 years old, so you will necessitate getting single trip policies which do not have any age restrictions.
Should I Get A Single Trip Or An Annual Policy?
Deciding whether to get a single trip or annual trip travel insurance policy depends on your circumstances. If you only have to travel once or twice within a year then you should get a single trip policy. But if you’re travelling with your family, a family policy or annual trip travel insurance cover will work for you.
If you’re looking where to get your travel essentials all in one go, check our Travel Insurance Offers.