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Planning for Your Next Holiday: Should You Get Single Trip or Annual Travel Insurance

Planning for Your Next Holiday: Should You Get Single Trip or Annual Travel Insurance

Travel insurance is no doubt useful and can end up being a lifesaver in the event that something unexpected happens, but which is better for you to buy, an annual or single trip insurance policy? First, let us take aa quick look at each of them and what they entail.

Annual travel insurance cover

Annual policies provide insurance cover for a period of 12 months from the date the policy came into effect. The start date of an annual insurance policy is always on the day they are purchased and they cannot be forward dated. For your trips to be covered by an annual policy, they must fall within the 12-month period in which the policy is effective.

Single trip insurance cover

Single trip insurance only covers a single trip for the duration of the holiday. It starts on the departure date indicated by the traveller and ends on the return date.  Single trip insurance may be used for short or long trips.

Which is more cost effective?

The less expensive option will depend on the number of trips you make. For instance, if you would only be making one trip within the next 12 months, a single trip policy will definitely be cheaper, but if you are planning to make multiple trips over the next year, an annual multi trip insurance policy might make better financial sense.

Single trip and annual insurance policies compared

While single trip insurance cover is generally expected to be cheaper than annual cover, an annual policy might actually work out to be less expensive per trip, depending on the number of trips. Also, a single trip policy will be more expensive on a per-trip basis, but an annual policy will cost more if you don’t travel often. Single trip insurance cover can have a higher maximum age limit that an annual policy would typically have. With an annual policy, you only need to buy a single policy per year but with a single trip policy, you would have to buy a new policy every time you need to take a trip.

What do single trip and annual insurance policies cover?

Whether you buy a single trip travel insurance policy or an annual policy, your policy should cover baggage in case you lose your bags, repatriation, personal money, cancellation, and medical expenses.


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