Travel agents sometimes make more money selling insurance than the holiday. If youтАЩre thinking 'obviously,' itтАЩs likely youтАЩve got an annual policy.┬а Yet you may be paying over the odds. Having compared 50+ providers these results show the top buys for singles, families and the over 65s, possibly saving you ┬г200. ??
┬аAnnual or single trip?
Keep the costs down
BEST BUYS: The Cheapest Policies
Annual policy for an individual ?Annual policy for a family ?Annual policies for the over 65s ?Pre-existing medical conditions ?Single Trip/ Backpacker policies
The Size of the Saving
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Cover up when you're on the beach!
Should you opt for annual or single-trip insurance?
??There are two types of travel insurance policy, and both can be good value in the right circumstances:
тАв Annual multi-trip travel insurance. ??This covers all trips during a year for a one-off fee, within a set maximum number of days away (usually between 30 and 60). Trips are mostly defined as business or travel overseas (even a day trip), or more than two consecutive nights away in the UK at prepaid accommodation starting the moment you leave until the moment you return. ??Winter sports may be included, usually for a limited number of days, though do check it covers equipment and any more unusual sporting pursuits.
тАв Single trip travel insurance. ??This has been given a bad name due to over-expensive travel agentsтАЩ policies. Actually, do it right (see below) and it can be good value, just a few pounds for a week away.
The rough rule of thumb for this is:
┬а
If you go away more than two times a year, including weekend breaks, you're better off with an annual policy.┬а
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The exception to the rule?
For those tripping to the USA an annual policy may be cheaper than single trip cover┬аand often is cheaper than cover for two single trip policies.┬а ??USA┬аcover is expensive because of the high medical costs, but annual policy prices are┬аcalculated on average trip demographics (roughly one long haul and one short haul week away).┬а Therefore USA go-ers grabbing annual policies are┬аeffectively being subsidised by people heading to medically less costly destinations.?┬а
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