Decide whether an annual or single-trip policy would be just the ticket for your upcoming holidays.
You can easily compare both options to find your perfect pairing.
Annual travel insurance, also called multi-trip travel insurance, covers you for numerous holidays throughout a 12-month period. You don’t have to worry about purchasing a new policy every time you’re packing your suitcase because you’ll already have one in place.
You can take as many trips as you want within the year the policy is active, but there’ll usually be a limit on how many consecutive days you can spend abroad. Generally, this is around a month, after which you must return to the UK.
When you purchase an annual policy, you’ll need to choose which countries you want to be covered for:
If you travel to a destination that isn’t included on your policy, you won’t be covered and you’ll be unable to claim.
The benefits of getting an annual policy are:
But you should also consider:
As the name might suggest, this type of policy covers one specific trip.
You’ll need to have a start and end date for your holiday when purchasing this type of policy and there’ll be a limit on how long your trip can be, usually around 90 days.
Cover will start from the date you buy the policy and it’s possible to purchase add-ons to ensure you have the right level of cover for your vacation - for example, you may want to take part in winter or adventure sports while you’re away.
Just like with an annual policy, you’ll be required to choose the countries you’ll want to be covered for. Worldwide, including the USA, Canada, and the Caribbean, will usually be the most expensive option.
You may want to choose a single-trip policy because:
But watch out for:
If you have any pre-existing conditions, it’s extremely important to let the insurer know during your application.
If you don’t, you may find you’re not covered for any claims that are a result of your condition.
Also, some insurers may completely exclude medical conditions from their cover. It’s important to know where you stand before deciding on a policy, so if in doubt, contact the insurer.
If you have a serious pre-existing medical condition and are struggling to access cover, you may need to find a specialist insurer. Alternatively, you could take a look at the government’s MoneyHelper travel insurance directory.
Initially, a multi-trip policy will cost more than a single-trip policy. However, if you’re taking more than three holidays within a 12-month period, multi-trip insurance will usually work out cheaper.
Compare them against each other before taking the plunge to see which will save you the most money overall.
Before picking a policy, you should think about:
Both types of policies usually include cover for:
Typically, you won’t be covered for:
Always check policies to see what is covered and what isn’t.
Remember there will be limits on how much you can claim for each situation and more comprehensive policies will offer a higher limit. Although it will likely mean that you pay a higher premium, it can prove invaluable if you have to claim for a large amount.
It completely depends on whether you’re certain you’ll take more than three trips within a year. If so, explore multi-trip options. However, it’s always worth comparing against single-trip policies to make sure you’re getting the most for your money.