Save Money with Annual Travel Insurance Policies

Annual policies could save regular travellers an average of 15%, says

The latest travel insurance research by travel insurance compare giant,, has found that families who travel regularly are financially far better off taking out annual insurance cover than single trip cover.

With half term here and the Christmas and Easter holidays fast being booked up, the comparison site is urging families to secure themselves an annual policy – and, of course, one with adequate cover for their travel requirements.

Far from saving a few pounds by neglecting to buy insurance cover, travellers can find themselves left with huge medical bills if treated abroad without worldwide travel insurance cover, or left without replacement cash or expensive baggage and gadgets should they be lost or stolen abroad.

Moneysupermarket’s recommended level of cover is as follows:
• £2m for medical expenses
• £1m personal liability
• £3000 cancellation (/enough to cover the cost of your hoiliday)
• £1500 baggage
• £250 for cash
• Policy excesses under £100
• Cover for scheduled airline failure and end supplier failure as desirable
• Delay cover (e.g. £20 per hour for the initial 12 hours).

Moneysupermarket’s advice is targeted, in particular, at those families who take a minimum of two trips per year or at least one long-haul getaway per year. The comparison site estimates that families taking three trips per year would save around 15 per cent if they were to take out an annual policy as opposed to single trip cover for each trip they book.

And what’s more, the levels of cover provided with annual policies are generally more generous for annual policies, particularly when it comes to that all important medical cover, as well as cancellation and baggage, which, for the average family, can amount to hundreds, even thousands of pounds for a long trip.

An example given by Moneysupermarket in their recent press release is of a family of four holidaying in the US for seven days. Comprehensive cover for just £26 that would offer:

£5,000,000 medical cover
£3,000 cancellation
£1,500 for baggage.

For an extra £13, the same family could get themselves an annual policy that offers all of the above PLUS an extra £5,000,000 of medical cover as well as cover for as many extra trips as they want in the specified 12 month period.

Moneysupermarket travel insurance expert, Bob Atkinson, said: “Heading abroad for a much needed break is always exciting but it’s essential to make sure you and your family are fully covered before you go. Many people leave travel insurance to the last minute and often overlook the finer details such as the varying levels of cover available, only to be caught out later on if a claim needs to be made.

“The price of a policy should not be the main factor when buying travel insurance however being a savvy regular traveller will save you money without compromising on cover. It really pays to take the time to get to grips with the small print and ensure you have more than enough cover for your needs. Annual policies normally provide an increased level of cover however this does come with an additional price tag.

“Holidaymakers need to think carefully about how often they plan to travel per year and if it is more likely they will travel to a long haul destination such as the USA, then it is definitely worth paying for an annual policy. It also gives flexibility if they decide to go on any last minute holidays or trips such as weekend city breaks abroad or in the UK, as they will already be covered.”


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