Annual Travel Insurance Vs Single Trip Travel Insurance: Which Is Better?
Posted on | November 28, 2009 | 18 Comments
Travelling and taking holidays can be a lot of fun, but it can also be scary. If something goes wrong, you may find yourself in a foreign land amongst foreign people with no idea where to turn for help. Travel insurance prevents this from happening by helping you through all of the unforeseen circumstances that may befall you on a trip. Travel insurance can help cover expenses if you become ill or injured, lose your luggage, have a car accident or have to change your plans due to weather or illness.
There are two basic types of travel insurance: annual travel insurance and single trip travel insurance. Annual travel insurance is purchased annually and covers all of your travels for the entire year. Single trip travel insurance is purchased at the beginning of each trip and is only good for that trip.
There are benefits and drawbacks associated with each type of travel insurance. The following two sections will address the pros and cons of each.
Pros and Cons of Annual Travel Insurance
When you purchase annual travel insurance, you pay a one-time fee. This fee covers the cost of the insurance for the whole year. If you travel a lot, this price is almost always less than you would pay for multiple single-trip policies. But the price for annual travel insurance is also more than you would pay for one or two single-trip policies. So you need to have a clear idea of how often you will use the insurance before you spend the money for it.
Annual travel insurance is ideal for people who travel a lot. Business professionals, people with family living abroad, and families with holiday homes usually benefit the most from such a policy. Students who have to travel back and forth from school may also benefit from this type of policy.
Pros and Cons of Single Trip Travel Insurance
Single trip travel insurance is the most cost effective way to purchase travel insurance if you only have need of it a couple of times a year. It is spontaneous. You can purchase travel insurance prior to any trip even if it is spur of the moment. It is also inexpensive. Single trip travel insurance normally costs about four to seven percent of the entire cost of any prepaid trip.
If you make a lot of spontaneous trips, however, you could end up spending more than you bargained for if you purchase a separate policy each time you leave town.
Both annual and single trip travel insurances offer the same coverage. The only real discrepancy between them is cost. Therefore, you need to choose the most cost effective way to purchase the insurance that best meets your needs. If you have any doubts, talk to a travel agent. They will be able to help you compare prices and coverage options. The most important thing is that you always travel while insured. You need to be prepared for everything that may happen.
Related posts:
- Annual Travel Insurance -for Whom, You are Waiting?
- Guide to Cheap Annual Travel Insurance
- Annual Travel Insurance Deciphered
- Single Trip Travel Insurance: Buy for Some Special Occasion
- Annual Travel Insurance: Do You Need It?
- Cheap Annual Travel Insurance: for a Safer Journey
- The Benefits of Getting Single Trip Travel Insurance
- Annual Travel Insurance: Enjoy Your Trips Without Any Worry
- Cheap Annual Travel Insurance: Get Insured Within Your Budget
- Benefits of Multi-trip Travel Insurance for the Frequent Traveller
Comments
18 Responses to “Annual Travel Insurance Vs Single Trip Travel Insurance: Which Is Better?”
Leave a Reply
November 28th, 2009 @ 10:03 am
lemme just say… you are my new hero.
November 28th, 2009 @ 10:09 am
hermosisimooooooooo !!!
November 28th, 2009 @ 10:52 am
I think that you will find a great deal on Moneysupermarket.com thats where I got my travel insurance, and they actually had to pay out on my policy as I ended up in a French hospital.
My insurance was about 40pounds, and it was for annual insurance! I think from memory you could go away for up to 94 days at a time, or 17days at a time if you included winter sports.
Hope this helps – just remember to read the small print about how many consecutive days away from the UK you are covered for! Happy Travels!
November 28th, 2009 @ 10:52 am
Try this site for a quick quote on travel medical insurance. TravelEx allows for pre-existing conditions. —> http://www.travelex-insurance.com/index.asp?location=07-0018
November 28th, 2009 @ 1:21 pm
There are some good travel insurance companies. Get ones that pay your expenses or pay you in cash. Dont get ones that make you take another trip or give you a voucher to travel again with them.
I only buy insurance if the trip is WAY more than I can afford to lose.
Read the fine print of the policies before you purchase.
November 29th, 2009 @ 12:19 pm
You are amazing!
November 29th, 2009 @ 2:56 pm
superb!!
November 29th, 2009 @ 8:27 pm
Beautiful video!
November 30th, 2009 @ 1:34 pm
November 30th, 2009 @ 5:10 pm
I always love your art. Now I love your music
November 30th, 2009 @ 8:28 pm
It could very well be true. Although they are different countries to where you are, we are in the UK and when we book to go to Ireland the company we book with insists on having our insurance details. Besides, as the first answerer says…they would be daft to travel without it as the cost of treatment is far more than the cost of the insurance. Accidents do happen…believe me, I broke an elbow last year, and a few weeks after that was healed I broke my foot…if I had been abroad I would have been in sh*t street without insurance!
November 30th, 2009 @ 9:54 pm
Here are some links-
I had a similar situation- I was living in the Caymans Islands, no longer a Canadian resident, and wanted to travel for the summer. But every policy required that Canadian citizens be insured in their home privince, which I no longer have as non-resident. IMG was the only one I found, but as you DO have Canadian insurance, this will be easy for you. There are lots of short-term plans.
https://www.imglobal.com/travelinsurance/index.cfm?show=&&CFID=1718830&CFTOKEN=d9392e2d0226f2d2-EC75C061-1143-EBE5-76B31862584AA777
http://www.internationalsos.com,
http://www.travelexinsurance.com,
http://www.ijet.com,
http://www.travelassistance.com,
http://www.wallach.com,
http://www.travelguard.com,
http://www.independenttraveler.com/resources/article.cfm?AID=48&category=8,
http://www.ricksteves.com/plan/tips/insurance.htm.
November 30th, 2009 @ 11:10 pm
You can get a refund if your insurance covers illness as a reason for cancellation. Different policies cover different contingencies. The way you would prove illness is by a note from your physician.
InsureMyTrip.com is one site that has comparisons among policies. I'm sure there are others.
December 1st, 2009 @ 5:10 am
hi all everybody plz watches in my videos and rating .. plz plz plz !!!!!
December 1st, 2009 @ 5:15 am
wow!
December 1st, 2009 @ 5:55 am
Checkout their theft rider, and the link for a free quote. http://www.travelex-insurance.com/index.asp?location=07-0018
December 1st, 2009 @ 8:42 am
Omfg, it just looks like a picture
December 1st, 2009 @ 9:40 am
healthquotes.awardspace.info – here is my health insurance plan. As I remember they can provide such a service.