Whenever you’re travelling there is one term that will constantly pop up in your forms and papers: travel insurance. This is insurance that will cover for the costs of losses, medical bills, and delays or cancellations during your trip. However, there are usually two options: one-time travel insurance and year-round or annual travel insurance.
Differentiating the Two
Differentiating annual and one-time insurance is pretty easy: the prior will cover all of your travels in a year’s time while the latter will only cover you for a single trip. The little details between them are what separates them and is why many people find it hard to choose which one works the best.
Costs of Each Insurance Plan
One-time travel insurance is cheaper since it will only cover you for a single trip. For the sake of example, you can say that it will cost you £35 for your travel package. If you were only going to travel once throughout the entire year then this might be the best plan for you.
When you look at a one-year travel insurance plan you’d be shocked to see the high £125 fee. It covers just about the same details that a one-time insurance policy does but if you travel several times then you’d actually be paying less with this than to keep paying a one-time policy each time you travel.
If you took an annual plan and travelled five times a year then you’d only pay £125. If you took a one-time plan each time you’d be paying £175 in total just for travel insurance.
Benefits of Annual Travel Insurance
Does this automatically mean that getting annual coverage is the best? In many ways it does but there are many irrefutable benefits to get annual insurance. Here is a look at just some of them:
1. It’s cheaper if you travel a lot – this was discussed above and the benefit multiplies if you tend to travel with your friends or family.
2. Annual insurance can include additional coverage options – if you need specific coverage, like pre-existing medical conditions insurance, then it is much easier to secure if you go with an annual plan.
3. You get discounts – paying the premium for an annual insurance policy will grant you discounts on travels and extra coverage options, especially if you are going to pay for travel insurance for kids.
4. Convenience – you don’t need to keep filling up the same insurance forms every time you travel when you’ve an annual plan. It makes it easier and faster to finalize travel documents.
Get Annual Travel Insurance Before You Go
Before you finalize your travel plans it would be wise to secure annual travel insurance first, especially if you are travelling in a group. It will be much cheaper for the whole year, you may get numerous discounts and additional coverage, and it is far more convenient in the long run. You want to enjoy your vacation, not impede it with paperwork, so getting annual travel insurance early on will give you the freedom to just have fun.