Annual vs single - the great travel insurance debate
With holiday-makers planning their Christmas, New Year and winter getaways abroad, moneysupermarket.com urges families to ensure they have the right level of travel insurance in place before they set off, otherwise they could be left counting the cost should anything happen which may result in a claim while they are away.
Research from moneysupermarket.com found that for families who are frequent travellers, it pays to take out an annual policy rather than single trip cover. This particularly applies to those who are taking two or more trips a year.
A family of adrenaline-junkies heading to the USA for a skiing break on an annual worldwide multi-trip policy with winter sports insurance, can find comprehensive cover for £65. This includes cover for £10 million of medical expenses, £3,000 cancellation and £1,500 of protection for baggage. In addition, this policy also covers families for any trips they take in the UK throughout the year as well as their main summer holidays anywhere in the world.
By comparison, a single two week trip to the USA provides lower levels of cover, and costs £42. However this only provides protection for one trip.
Investigations have found that it is not so clear cut when looking to cover winter escapades closer to home. moneysupermarket.com found a single trip, two week policy, with winter sports insurance, for a family holiday in France costing as little as £11 with Ignite.
The best value annual European cover comes in at £35. While it offers a higher level of medical expenses cover, it doesn't offer even half the levels of cover the single trip policy does for cancellation or baggage.
Bob Atkinson, travel insurance expert at moneysupermarket.com said: "With all the excitement of jetting off abroad on a family holiday, it is important to ensure you are fully prepared before you go. Whether you are heading off for a Christmas chill out, a thrill seeking New Year adventure or a winter break on the slopes, when it comes to insurance it's crucial to scour the small print of your policy to ensure you have adequate cover to suit your needs.
"Price should not be the only motivating factor when you buy. It is vital that you understand the levels of cover on offer and what you are getting for your money. Annual policies tend to provide great levels of cover, however this may be reflected in the price you pay. Very often it is a question of weighing up how many times you and your family will head off abroad in a year as to whether it is worth paying a higher price for cover. Generally if you are taking two or more trips abroad, with one of those being long haul, then annual is better value by far. Plus it means you always have cover for when choosing to take last minute trips, from city breaks to family weekends away.
"As we hurtle headlong into ski season I strongly stress the importance of checking the small print on your policy for all winter sports you intend to do; especially if you plan to go off-piste. Medical treatment can be extremely costly whilst abroad and so medical expenses cover and air ambulance and helicopter rescue costs are a vital part of your policy. Cancellation cover is also crucial and must meet the cost of your holiday; for example, £1,500 per person of cancellation cover may not even be enough to cover your basic flights and accommodation if you are flying further a-field for a snowy adventure.
"Finally always check you have adequate cover for loss, theft or damage to your possessions to avoid spoiling your winter getaway."