Frequent flyers should consider annual travel insurance policy

With half term around the corner, and many families planning an Autumn getaway, MoneySupermarket.com urges holiday makers to check they have the right level of travel insurance in place before they set off - otherwise their wallets will take the hit should anything happen while away.

Research from the comparison site found families who are regular travellers should take out an annual policy rather than opting for single trip cover. This particularly applies to those who take two or more trips a year, or those who may be heading on a long haul holiday. Taking around three trips a year would typically cost 15 per cent more than using annual cover, even when comparing the cheapest available policies. The research also shows that levels of cover, particularly for medical expenses, baggage and cancellation, tend to be more generous on an annual policy.

A family of four heading off to the US for a week, for example, can find comprehensive single trip cover for as little as £26, providing £5,000,000 of medical cover, £3,000 cancellation and £1,500 for baggage. For just an additional thirteen pounds, a family could get an annual policy which provides an additional £5,000,000 of medical cover, giving them £10,000,000 in total.  Not only does this cover you for additional trips at no extra cost, it also provides a more comprehensive level of cover compared to the single trip option.

Bob Atkinson, travel insurance expert at MoneySupermarket.com said: "Heading abroad for a much needed break is always exciting but it's essential to make sure you and your family are fully covered before you go. Many people leave travel insurance to the last minute and often overlook the finer details such as the varying levels of cover available, only to be caught out later on if a claim needs to be made.

"The price of a policy should not be the main factor when buying travel insurance however being a savvy regular traveller will save you money without compromising on cover. It really pays to take the time to get to grips with the small print and ensure you have more than enough cover for your needs. Annual policies normally provide an increased level of cover however this does come with an additional price tag.

"Holidaymakers need to think carefully about how often they plan to travel per year and if it is more likely they will travel to a long haul destination such as the USA, then it is definitely worth paying for an annual policy. It also gives flexibility if they decide to go on any last minute holidays or trips such as weekend city breaks abroad or in the UK, as they will already be covered."

moneysupermarket.com recommends at least the following level of cover:

£2m for medical expenses
£1m personal liability
£3000 cancellation - or enough to cover the total cost of your holiday
£1500 baggage
£250 for cash
Policy excesses under £100
Cover for scheduled airline failure and end supplier failure as desirable
Delay cover (e.g. £20/hour for first 12 hours).