Single Trip and Annual Travel Insurance – Comparative Analysis Report

When you are still starting to get into the process of planning your only holiday vacation, or your holiday vacations, applying for travel insurance such as a single trip insurance policy is something that you must always keep in consideration. This is because you would never know what will happen with your belongings, the event that you’re about to attend, the unexpected closing of the resort for your winter sports, or even to you and your family. Preparing for unexpected setbacks is why you should get an insurance policy. In line with the purpose of preparing for the unexpected, another thing that you have to consider is that whether travel insurance policy you are applying for is best suited for your needs. In getting a travel coverage policy, there are generally two types of policies that you may apply for: a single trip and an annual travel insurance. Sometimes, it is better for you to buy an annual travel coverage policy than to get single trip insurance. Yet, sometimes, the opposite happens. Now, the question is that what would be the better policy? And another question is when and how?

In comparing the two, the first thing that we have to look at is the coverage of the policy against its price. In a single trip insurance policy, the following items are covered: curtailment, emergency medical repatriation, personal accidents. In terms of a delayed travel, the abandonment of a trip within 24 hours is not covered; only missed departures are included in the travel coverage. There is also a limitation in the personal possession. Such items that covered under the personal possession category include single articles and other valuables, while the delayed baggage and spectacles and sunglasses are not included. Yet, the price range for this kind of insurance policy is still not bad if and only if you are going for a trip only once or twice a year for about 31 days. Although the time covered by the insurance policy could be extended up to 45 days.

On the other hand, an annual travel insurance policy is basically great for those who travel for more than once, or at least more than twice every year. For most of the time the cost of an annual travel insurance policy would be twice or thrice when compared to the price of single trip insurance. But before you think that it’s too expensive, you may first want to take a look on the coverage of this kind of insurance policy. The time covered by annual travel insurance per trip would range for even up to 120 days and down to 60 days or 31 days for ages 66 to 71, and 71 to 74 respectively. All items are being covered by this insurance policy, from personal possessions, to health, and even the winter sports are insured. You may even afford to go for comprehensive travel insurance, which is almost the same as an annual travel insurance policy but has a duration of up to 15 months and trips outside the Europe would even be covered. Remember, though, that if you’re sure that you’re going to travel only once in a long period of time, it’s better to purchase single trip travel insurance.

What Kind of Travel Insurance Do You Need?

Is a simple single trip travel insurance policy the best option for your travels? It seems to be an easy question to answer correctly, but many people tend to get it wrong.

The truth is, many people decide too late into their travel preparations on whether or not to get cover: something that leads to rushed, uninformed decision-making that in turn results in either paying too much, redundant policies or, worse yet, the most common – insufficient coverage.

Ask yourself these few questions if you’re going to travel soon, and find out which policy is best for you!

Am I Already Insured? Does It Include Travel Eventualities?

If you already have health, life and accident cover, it pays to check inclusions, as well as the locations where your existing plan is applicable. While many plans exclude plane crashes and the like, some of the things that may happen during a trip may be covered by your current policy. What’s more, many global health plans such as BlueCross and the like ensure coverage for medical assistance and treatment in case of accidents and sickness in many countries all over the world – so having those inclusions in a single trip travel insurance policy may be redundant.

Still, just because you are already insured for sickness and accidents shouldn’t mean you shouldn’t get any kind of policy at all. You will still need to get coverage for instances such as trip cancellation, lost luggage and other possibilities not included in your regular plans.

How Often Am I Travelling This Year?

If the answer is more than two times, then annual cover might be the better option, rather than single trip travel insurance. There are many options for annual cover that cost less than, say, three separate policies. Like many package costs, the price per trip goes down depending on how often it comes into play. Still, you should investigate specifics, such as where you are going and what (and where!) is included in the annual policy. And it is always a good idea to check travel advisories issued by embassies and professionals before making plans.

What Kind Of Trip Is It?

Business trips are often insured by the company, but may be limited to the areas and dates covered by the business trip. For instance, if you are travelling to another country to attend a convention you are covered for the entirety of the trip, from departure to arrival. Should you decide to extend your trip on your own to sightsee, however, many companies will not include those dates and places. Check very carefully in case you need to arrange for additional coverage with a single trip travel insurance policy.

Travelling With Children – Travel Insurance Can Save The Day!

Among the many reasons to book single trip travel insurance, taking children away on a holiday may just rank at the top.

As any parent knows, when you have children, particularly small ones, there are always surprises in store. Even a simple single trip travel insurance policy for your family can help make sure those surprises are only pleasant, or at the very least, inexpensive.

Travelling With Children

Many people may think traveling with children in tow is way too much trouble, but the truth is, it’s one of the best things you can do for your child. It not only expands their horizons and helps them learn while having fun, it’s also good for you. Having children along with you on your journey instils you with their energy, enthusiasm and sense of wonder – which more than makes up for the exhausting pace of running after them and taking care of them for the duration of your trip.

Child-Friendly Policies

The good news is that many single trip travel insurance policies are child-friendly. Many allow coverage for children aged 0-14 as long as they are with an insured parent or grandparent. In fact, there are even some family policies that include children up to the ages of 16 and even up to 18. Other policies for families aren’t free, but only charge a minimum per child – but often, those include extended cover for other eventualities normally excluded in regular policies. You will, however, want to make sure about just what (and who) is covered in your policy.

What To Look For

Often, the best policy is one that offers broad coverage for many of the things that occur even without children, and a few more that do. These may include coverage for the following.

Medical Emergencies. Medical bills are troubling enough, but face the issue overseas and that becomes compounded. Add to that the problem of language barriers with doctors and nurses in areas where English is not the norm, and it can be quite daunting. However, with unlimited medical and hospital cover, as well as unlimited emergency assistance, a huge load will be taken off your shoulders, and you are assured that any trip to a foreign doctor will not be a financial burden. Interpreters can even be arranged.

Cancellations. The problem with making travel plans with children involved is that if they get sick or hurt in the days leading up to your big trip you may just have cancel the whole thing. Besides the disappointment this may cause, it can also be quite costly in terms of cancellation fees and lost deposits without a good policy in place.

While airlines and other companies may sometimes reimburse costs when it’s due to weather or political disturbances, they may not if it’s due to personal emergencies. Single trip travel insurance with comprehensive coverage means that you get unlimited cover for cancellation fees and lost deposits, in any case you need to cancel your big trip.

Lost luggage, gadgets and more. When travelling with small children, the pain of lost luggage and equipment like cellular phones and tablets seems to be that bit more painful: for one, there are many more clothes (and equipment) to replace, plus they aren’t the most patient travellers. A good policy can ensure you won’t have to make do without clothes or toiletries for the family just because they ended up somewhere other than your destination.