Don't overlook the benefits of annual travel insurance

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by: bythesea
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Word Count: 473
Date: Wed, 26 Jan 2011 Time: 6:55 PM
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When getting ready to go away, it's common for holidaymakers to seek out a good deal on single trip travel insurance without really giving a thought to whether or not it might be better to opt for an annual policy instead. It's easy to see why: single trip policies are naturally the cheaper option at first glance. However, if you're likely to take two or more trips over a 12-month period then it may well be more cost effective to look at annual cover.

It depends on your individual circumstances, of course, but generally speaking if you're a relatively regular traveller then you'll be out of pocket if you choose to take out a single trip policy every time you get ready to pack your suitcase. Cost isn't the only benefit, either; by having an annual policy in place, you'll be saving the time it takes to fill out the paperwork every single time you choose to take out single trip insurance. You pay your one-off fee and fill out your details at the outset -- and you're good for the rest of the year, leaving you free to concentrate on other things in the build-up to subsequent trips.

For those reasons, annual travel insurance is perfect for those people who enjoy being spontaneous as all they need to do is book their transport of choice and accommodation at short notice before jetting off to their chosen destination without the worry of organising the relevant cover over and over again. This type of cover is also idea for people who travel abroad on a regular basis for business meetings, those who visit family abroad on a regular basis and those who own holiday homes.

Of course, annual cover isn't for everyone. If you're absolutely sure that you'll only be taking the one holiday over the coming year then it clearly makes sense to opt for single trip insurance and the lower cost that entails. But if there's a chance that you'll be going away again at some point in the not too distant future get some quotes for both single trip and annual cover -- you might be surprised at how reasonable the latter can be.

Whichever type of cover you choose, be sure to disclose all relevant information when taking out the policy. Recent research suggests that more than 500,000 UK-based travellers went abroad in 2009 without disclosing certain pre-existing medical conditions that could have jeopardised their chances of making a valid insurance claim. Don't make the same mistake; it's just not worth the risk of leaving off a condition in the hope of securing a lower premium as it will quickly come back to haunt you if you are unlucky enough to have to make a claim.

About the Author

If you take a lot of vacations, annual travel insurance may be for you.