Annual Travel Insurance Cover, or Pay per Trip

 

 

There are some people who know every year that they will be travelling an awful lot. Some people will be travelling for work, and others will have family abroad that they know they visit regularly. For these people, it is almost always cheaper to opt for an annual travel insurance policy than to take out separate travel insurance on each and every trip.

This will depend of course on where they are travelling to, how often they travel and for how long they are away from home, but by and large, if you are taking more than a couple of trips abroad each year, then it will begin to make sense very quickly, for you to take out annual travel insurance rather than a separate travel insurance policy for each trip.

On the other hand, if you know that you are going to make no trips abroad, or just one or two trips abroad in the year, then it will probably work out a lot cheaper for you if you take out a separate travel insurance policy for each trip you make individually. This is because a full annual travel insurance policy will simply be paying for more than you need. You do not want to pay for all twelve months of the year if you are only going to sue the insurance for one or two weeks. It makes no sense at all.

There are many more people however, who will not be so easy to classify. Most people take a couple of trips abroad each year. These might be just weekends away, a summer or winter holiday, maybe visit someone abroad. The amount of travelling they do each year will vary and it will in most cases be difficult to tell exactly how much travelling you are going to do in any one year in advance.

If you do not know how much travelling you are going to do at the start of the year, then it can be very difficult to figure out if it will be cheaper to buy one annual travel insurance policy at the start of the year, or insure each trip separately with its own travel insurance policy. This is a tough judgement to make and you should try to estimate your needs and how much they will cost before making your decision.

For example, if you know you will be making certain trips in the year, than write these down and find out how much it would cost to insure each of these individually. It may well be the case that insuring just these certain trips individually will already cost more than an annual insurance policy, in which case you should go for the annual travel insurance policy. However, if they are still less than the annual insurance price, then look at the trips that are not certain. Ask yourself how likely is it that you will make these trips this year. If they are likely than, if the cost of insuring each of them separately is more than annual insurance, then you should go for the annual cover. Otherwise, you should just insure each trip individually.

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