Single Trip and Annual Travel Insurance – Comparative Analysis Report

When you are still starting to get into the process of planning your only holiday vacation, or your holiday vacations, applying for travel insurance such as a single trip insurance policy is something that you must always keep in consideration. This is because you would never know what will happen with your belongings, the event that you’re about to attend, the unexpected closing of the resort for your winter sports, or even to you and your family. Preparing for unexpected setbacks is why you should get an insurance policy. In line with the purpose of preparing for the unexpected, another thing that you have to consider is that whether travel insurance policy you are applying for is best suited for your needs. In getting a travel coverage policy, there are generally two types of policies that you may apply for: a single trip and an annual travel insurance. Sometimes, it is better for you to buy an annual travel coverage policy than to get single trip insurance. Yet, sometimes, the opposite happens. Now, the question is that what would be the better policy? And another question is when and how?

In comparing the two, the first thing that we have to look at is the coverage of the policy against its price. In a single trip insurance policy, the following items are covered: curtailment, emergency medical repatriation, personal accidents. In terms of a delayed travel, the abandonment of a trip within 24 hours is not covered; only missed departures are included in the travel coverage. There is also a limitation in the personal possession. Such items that covered under the personal possession category include single articles and other valuables, while the delayed baggage and spectacles and sunglasses are not included. Yet, the price range for this kind of insurance policy is still not bad if and only if you are going for a trip only once or twice a year for about 31 days. Although the time covered by the insurance policy could be extended up to 45 days.

On the other hand, an annual travel insurance policy is basically great for those who travel for more than once, or at least more than twice every year. For most of the time the cost of an annual travel insurance policy would be twice or thrice when compared to the price of single trip insurance. But before you think that it’s too expensive, you may first want to take a look on the coverage of this kind of insurance policy. The time covered by annual travel insurance per trip would range for even up to 120 days and down to 60 days or 31 days for ages 66 to 71, and 71 to 74 respectively. All items are being covered by this insurance policy, from personal possessions, to health, and even the winter sports are insured. You may even afford to go for comprehensive travel insurance, which is almost the same as an annual travel insurance policy but has a duration of up to 15 months and trips outside the Europe would even be covered. Remember, though, that if you’re sure that you’re going to travel only once in a long period of time, it’s better to purchase single trip travel insurance.