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You know that when you travel you should take out insurance, but when does taking out annual travel insurance prove more financially sensible than taking out separate insurance policies on every occasion that you travel? If you are in for an exciting time on the travel front this year, it may be worth investing in an annual policy. But before you do, it is wise to be aware of three important things about annual travel insurance that will help you decide if it’s worth it for you. Saving Money Every sensible traveller is acutely aware of the importance of having a comprehensive insurance policy just in case of unexpected emergencies and travel issues. Generally, if you are planning to take three or more trips in a year, an annual travel insurance policy is a sensible option. Annual policies cover you for a year and you should choose one that includes cover for medical issues, repatriation and travel delays among other important potential travel related issues. Policies are generally very clear about what they cover, but taking some time to read the small print is advised. Business Travellers Business travellers are frequent travellers by default and an annual travel insurance policy is a convenient and financially beneficial way to stay covered for all eventualities. Missing flights and being subjected to travel delays can mean lost business, so a good insurance geared towards business travellers is a must. Business policies should cover loss or damage of business equipment, insurance for rental cars and concierge assistance too. Keep Things Easy Think about it in simple terms. Just because you are making more than three trips in a year, does not mean that you are going to be buying three sets of travel luggage, does it? Why then would you buy three different insurance policies? This is why comprehensive annual travel insurance is a convenient option for frequent travellers, who can then also relax in the knowledge that they will only need to think about renewing once a year. This kind of insurance policy can also be bought for the whole family, so if you are a family who travels lots in a year, this is a convenient way to stay covered. It will also help you save money on your annual insurance spend. A note of caution, however; every policy must be read carefully so that you are definitely aware of what is, and what is not, covered. The best thing to do is call the company, tell them what you want and get them to advise on the best policy for you. Not all plans cover the same things or cover for the same amounts, so do your research before you invest. Patrick Chong is the Managing Director of InsureMore, an award-winning team of specialists in global single trip and annual travel insurance policies. Besides offering great deals on travel insurance, Patrick also collects and shares the best free travel competitions to help his clients get the most out of their holidays.
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