Most frequent travellers opt for annual travel insurance policies as they are designed for those who travel several times a year, with 31 consecutive days per trip. It’s usually good for 365 days from the date of purchase, so if you are out on several trips per year, it’s advisable that you get an annual travel insurance policy. If you go on at least 4 trips a year, you will save by getting annual travel insurance. This is by far a more practical approach versus purchasing single trip travel insurance to cover you each time your travel.
Here are 5 tips when choosing the right travel insurance for you.
1. Check to see the duration of the coverage.
It pays to check the duration of the annual travel insurance coverage. The most common duration is twelve months from the date of the purchase. You also need to check your travel dates to see if the travel insurance covers all of your trips for the period. One advantage of getting annual travel insurance is that you are covered continuously throughout the duration of the policy, so you don’t need to purchase another policy each time you travel.
2. Check the destination coverage of the travel insurance.
If you are getting annual travel insurance, it is a multi-trip policy, which means that you are covered on any number of trips throughout the period specified in the policy. However, you need to check the destination coverage.
If you go on multiple trips each year to different countries, make sure that you get insurance that has worldwide coverage and not just limited to Europe only. If you plan to travel to other continents, it is advisable to get annual travel insurance that would cover not just Europe but also North America, Asia, Africa, and Australia and the Pacific.
3. Check to see if the policy is laid out clearly.
In order to get the best value for your annual travel insurance, you need to ensure that the specific coverage, inclusions, and add-ons in your policy are clearly laid out. The best policies do not hide under a mumbo-jumbo of words that are hard to understand. Policies should clearly state the benefits and should be easy to understand. The insurance company should also provide FAQs and hotlines to help with clients’ inquiries and concerns.
4. Check Exclusions and Other Loopholes
Always read the fine print and take note of all the exclusions of your annual travel insurance – read our article 5 essential things to check your travel insurance covers.
No matter how good your travel insurance is, there are some things that are not included when you want to recover costs. One common example is if you have a pre-existing medical condition, your travel insurance will not usually cover the cost if you have a related sickness spell on the road.
5. Check the Personal Liability element of the Policy
Personal liability of annual travel insurance should be able to cover such accidents costs such as property damage, personal injuries, and other accidents. Probably the best advice about annual travel insurance is that you don’t need to pay a lot to get decent coverage. There are many reputable insurance companies offering comprehensive annual travel insurance at a reasonable price.