Travel insurance is a must for anyone who’s getting ready to go on holiday as it provides protection in the event something should go wrong. There are 2 options for insurance depending on how much you plan to travel in a year.
One type is single trip insurance that covers just one holiday. For those that don’t travel abroad much, maybe once for their summer holiday then single trip is the cheapest insurance option for you.
Multi-trip insurance on the other hand offers insurance for those who will travel several times in a year.
Annual travel insurance is a good idea if you will be making 3 or more trips per year. For example, you might have a winter holiday skiing, a summer holiday in the sun and a long weekend city break all in 1 year.
Generally multi-trip insurance is more expensive than single trip but it does provide more coverage. Usually these policies won’t restrict the number of trips made during the year. However, they may place some restrictions on the length of the trips. In many cases, the trip can last no longer than a month or two. The specific amount varies from insurer to insurer.
Those who obtain single trip insurance must take out coverage every time they travel. However if a person already has a multi-trip insurance policy, then they are covered every time they depart so it’s convenient, flexible…and cheaper! It will allow optional cover to be added for various purposes.
Additional cover may be required if you take part if any extreme sports activities such as snowboarding or scuba diving whilst on a trip.
There are some possible drawbacks to obtaining multi-trip insurance over single trip insurance. Generally there is a large excess associated with multi-trip insurance (Excess is the amount you must pay when making a claim). If adding annual cover for sporting activities, this is generally more expensive than doing so with a single trip insurance policy. Different insurance companies may place age restrictions on this kind of multi-trip insurance. For instance, many will not offer these policies to people over 65.