Annual and Single Trip Travel Insurance – The Great Debate

Travelling around the world is definitely an exhilarating experience. No one can deny the fact that travelling to foreign land has some risks. It doesn’t matter if you are travelling for a business or leisure; you certainly need much planning before the trip. Moreover, even after the vigilant trip planning, you cannot ignore the risk of mishaps such as medical emergencies, natural catastrophes, terrorism, theft, and damage. This is why it is advocated to get an annual or single trip insurance to stay tension free.

Both types of trip insurance will provide legitimate cover on the listed mishaps on the insurance deal. However, it is important that you must conclude which type of insurance is beneficial for you. The annual trip insurance provides legitimate cover for multiple trips in a year. On the other side, if you are not a frequent traveler and travel only on holidays then single trip travel insurance is there for you.

However, it is advocated that if a person or a family travel more than twice in a year then annual travel insurance is more cost-effective, since it is cheaper and provides more benefits than single trip coverage. For instance, in the UK, the single trip travel insurance would cost £42 for the two-week trip to the United States. Whereas, the annual multi trip insurance would cost £65 for a multi-trip to the United States giving an extensive list of benefits (such as winter sports insurance) for a small fee or free of charge. Moreover, this type of insurance offers legitimate cover of £10 million on medical expenses, £1,500 on baggage protection, and £3,000 on the cancellation of the holiday which is more than if taking single trip coverage.

Additionally, the annual trip travel insurance also provides insurance cover for the trips of family members during the insurance period. The annual trip travel insurance offers greater cancellation and medical cover, which lacks in single trip travel insurance. Also, it is beneficial for the people whose travel plan is uncertain and they require last-minute insurance deals. With the annual trip travel insurance, you don’t have to worry about the insurance coverage on the trip. You can travel at any time with the assurance of being covered on your travel.

The Benefits of Single Trip Travel Insurance

Often, you will want to take a single, short trip and need travel insurance. Buying long term is not necessary and will often cost more, so you may find that purchasing single trip insurance is a better option.

In general, annual trip insurance, while it covers more than one vacation or business trip, covers just the basics. With a single trip insurance policy, you can easily set up your own specifications, depending on the provider. Various options are provided and you can mix and match them quite easily with a single insurance policy.

The ideal candidates for single trip insurance are elderly couples heading out on a cruise, the honeymoon couple taking a break from their jobs to celebrate their union in Hawaii and teens doing a missions trip in Africa, just to name a few. Basically, if you know this is going to be a once in a blue moon thing, leaving the country, you will want to make sure that you only purchase insurance for one trip. This saves you cash that you can easily spend while on your vacation.

Here are a few of the benefits of choosing a single trip travel insurance policy.

Pricing: Single trip travel insurance will be cheaper than multi trip. For anyone who has no plans to take more trips in a year, going with the single one is the best choice.

Trip Cancellation: Your trip may be canceled for any number of reasons, including bad weather, riots, death in the family or any other issue that arises and forces you to cancel. This could be disastrous if you don’t have travel insurance. Single trip insurance can cover this problem and you won’t have to lose all your money on tickets that were canceled. Check with your provider to help you understand all your options in this area.

Medical Evacuation: If you suddenly become ill while on a cruise or traveling elsewhere, you can be evacuated to the nearest competent hospital if needed. For those who are traveling outside of their home country, this can be very useful since hospitals in other countries may not be up to our medical standards. With single insurance, this should be covered for you, but check with your provider, of course, to get all the details.

Lost or Stolen Luggage: Unfortunately, it’s all too common to arrive at your destination and discover that your suitcase has gone to Timbuktu. Rather than losing everything, make sure to purchase a single trip travel insurance that will cover the loss of luggage and make sure that you can replace valuable items like your laptop or iPod.

Lost or Stolen Passport: As you can imagine, it can be pretty bad to lose your documents, such as a passport, overseas. Your insurance will help cover the costs involved with getting a new passport, particularly if it has to be a rush job or a temp passport due to travel timing. This way you won`t have to stress out as much about the cost of new documents.

Single trip travel insurance is ideal for anyone who doesn´t leave home more than once a year. If you are just heading out for a week or so, taking a cruise, attending a business convention elsewhere, etc. you can save quite a bit of money and customize your insurance options with single trip travel insurance.

Top 3 Reasons You Need Single Trip Travel Insurance

Many people forego the purchase of even a single trip travel insurance protection in the mistaken belief that such coverage is an unnecessary luxury. While many people could perhaps get away without having such coverage (but it is certainly ill-advised to do so), there are three critical conditions that it a “must-buy”.

Poor Health

The worst thing someone in poor health condition can do is embark on a physically taxing (and sometimes emotionally draining) journey abroad without getting at least a single trip travel insurance policy. Proper cover can protect you in terms of shouldering the cost of emergency medical procedures, should the need arise. What happens if you go to the emergency room in a foreign country and you don’t have enough money with you? Going abroad without sufficient coverage is extremely foolish-if even normal situations at home tend to trigger your asthma attacks, for instance, consider what awaits in a place you are unfamiliar with. Moreover, if you have a condition like vertigo, any sudden attack can endanger you and other people on the road (should you be driving a rental car). While an insurance policy does not make your health improve, it can certainly protect you from having to outlay a huge amount in an emergency medical situation.

Travelling to Dangerous Places

Here’s a true story: a couple travelling to Peru-a country whose government barely holds it together on the best of days-decides to get a single trip travel insurance policy. It was a precarious time when the dreaded swine flu was at the centre of every health advisory, but the couple chose to get insurance against the possibility of cancellation ‘for any reason’. As it turned out, their much-awaited trip would not be botched by swine flu, but by civil unrest; getting the cover they did significantly helped them swallow the frustration at their loss-at least, it was not as financially painful as it would have been if they didn’t have the extra cover. The point is if you’re travelling to other countries, especially those under certain risk advisories issued by your embassy, it pays to consider these risk factors when purchasing your policy.

Limits in Pre-existing Coverage

You may already have pre-existing single trip travel insurance coverage from your health insurance provider (some companies also includes travel cover even if your main policy is, say, health or home insurance), and you’re probably thinking, “why get another policy, right?” Wrong. Check the terms of your existing coverage carefully and you just might discover how limited the terms are. You have to be utterly frank about your needs and compare these to the things covered by your existing policies. If it is limited, it’s probably as bad as having no cover at all.

Multi Trip Travel Insurance And No More Worries

Traveling to foreign countries implies many risks but for those who enjoy travelling there is no reason to despair as multi trip travel insurance can provide all the necessary coverage to be protected from those risks. Multi trip travel insurance is an insurance product that has been tailored to meet the needs of frequent travelling customers that would otherwise need to pay for separate travel insurance products.

This unified multi trip travel insurance provides the same coverage as an individual travel insurance product but provides protection for multiple trips and more. Moreover, comparatively, the costs of these individual products would be a lot higher when added together. The combined multi trip travel insurance provides a cheaper solution for those who are frequent travelers.

What Does It Cover For?

As simple travel insurance policies, multi trip travel insurance covers for illnesses and accidents occurred during the trip and reimburses the medical expenses that such unexpected events imply. The difference is that you do not need to purchase insurance for each trip you take. Instead, multi trip travel insurance covers all of your trips in exchange for a single and lower premium than the premiums of all the other insurances combined.

Moreover, multi trip travel insurance policies also cover for theft (whether it is money or personal belongings), mugging and also loss. If you loose your luggage or documentations and need legal assistance, multi trip travel insurance will also cover these eventualities and all the costs and fees necessary to solve such situations which can be very stressing due to being on a foreign country.

Coverage For Emergency Flights

An interesting addition, given the current situation of the commercial flight business, is the inclusion on the policy of the following protections: Multi trip travel insurance will cover for emergency evacuations (due to internal problems in the foreign country or weather disasters), flight cancellations and flight delays (that often happen and make you lose connections).

The above additions are interesting given that not all travel insurances include these protections and it is smart to add them because you never know what may happen. Handling these situations on your own can be extremely stressing and costly, you cannot always count with the aid of the consulate or national authorities and being on your own with these problems on a foreign country is something you can definitely do without.

Where Do I Get Multi Trip Insurance?

More and more insurance companies are offering these policies and therefore you will not have difficulties getting one. You can visit the insurance companies’ online sites as many of them advertise these and other travel insurance policies online. You may also be able to request an online quote by filling a form specially designed for travel insurance on their online site.

Moreover, there are insurance brokers that will help you decide which insurance is best for you and can show you multiple quotes from different insurance companies to let you decide which product best adjusts to your current needs. Remember: doing some research and comparing quotes will guarantee that you get the best deal available and will save you hundreds of dollars.