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How to use a credit card abroad

Annual travel insurance

Annual travel insurance (or multi-trip travel insurance) covers you for several trips each year.The alternative, single-trip travel insurance, will only cover you for one specific trip.Read on to find out more about annual travel insurance and how to get the best deal.

What are the advantages of getting annual travel insurance?

Compare to single-trip, multi-trip travel insurance is:

  • cheaper – if you go on holiday more than once a year, an annual travel insurance policy will probably be cheaper than buying multiple single-trip policies.
  • more convenient  – you don’t have to arrange a new policy every time you travel;
  • there when you need it  – if you decide to take a last minute holiday, you can rest assured that you’ll be fully covered.

What if I’m travelling for a long time?

Multi-trip travel insurance policies will usually have a limit on the number of days one trip can last, or a maximum number of days they will cover. This is usually 30-31 days, but this can differ by policy.If you’re going away for a long period of time, you should look at backbacker insurance or extended holiday insurance instead.

How much does annual travel insurance cost?

The cost of multi-trip travel insurance can vary greatly depending on:

  • if you want worldwide or European cover;
  • if you want family or individual cover;
  • your age;
  • if you have a pre-existing medical condition;
  • the excess;
  • the level of cover.

Annual travel insurance checklist

Here’s a list of things to check before you buy your travel insurance policy:

  • Do you need worldwide or European cover? (You may be able to extend European cover to worldwide later if you need to.)
  • How many days travel will you be covered for in total, and for each individual trip?
  • What’s the maximum amount of money you can claim if your baggage is lost or stolen? (The level of baggage cover.)
  • What’s the maximum amount of money you can claim for valuables e.g cameras and jewellery? Is this limit high enough to cover your valuables?
  • Does your home insurance cover your belongings when you’re away from home? If so, you might not need cover for your valuables and baggage.
  • What’s the maximum amount of money you can claim if your cash is lost or stolen?
  • Are you glasses covered?
  • Will you get compensation if your holiday is cancelled or cut short?
  • Have you declared any pre-existing medical conditions? (If you don’t declare any illnesses your claim could be rejected.)
  • Is the policy open to people of your age?
  • Are there any exclusions? (Things that aren’t covered.)
  • What’s the excess? (The excess is a set amount that you’ll have to pay if you make a claim. A higher excess will mean a cheaper policy.)
  • Does it cover you for any activities you might want to do, like skiing, rafting or diving?
  • Does it include personal liability over? (This will cover you if you injure a person or damage someone’s property.
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