If you travel a number of times in the year and are still purchasing travel insurance each time you go, you are definitely losing money. According to 1Cover.com.au, by purchasing annual travel insurance it’s possible to save around 40% over buying multiple single trip policies through the course of the year.
There’s Loads of Variety Between Companies
There’s a wide variety of benefits and conditions across travel insurance companies. For instance, the age where a traveller becomes a ‘senior’ with unique policy requirements and medical approval required varies significantly with some companies, with Cover-More stating the age at 71, while SureSave Travel Insurance cuts off at 70.
Ouch Travel Insurance does not cover travellers over 65 years or include any pre-existing medical conditions at all in their annual cover. On the other hand, 1 Cover offers special cover for the over 71s.
The timing for each individual trip within an annual policy can also vary significantly between companies with some, such as Columbus Direct, placing their individual trip duration at no more than 60 days, SureSave at 38 days for leisure and 90 days for business, and 1Cover up to 90 days for both leisure and business.
Generous discounts can apply to groups and for family groups. Some companies include unemployed children under 21 for free on a parent’s, grandparent’s or family policy with all family members able to travel independently both internationally and domestically, with some companies also including ski and scuba diving cover as standard.
Don’t Neglect to Compare the Core Policy Elements
All these aspects are of themselves only part of the equation.
Bottom line to any travel insurance is the depth and reliability of the emergency medical assistance provided, the cover for emergency medical, hospital and dental expenses, lost deposits and cancellation fees, lost and stolen cards, cheques and documents, luggage and personal possessions, alternative travel, travel delay and emergency cash and the companies claims history – all of which can vary.
Have You Considered These Savings?
What area or areas are you travelling to? Many travel insurance companies ‘divide’ the world up into regions. If you’re only going to Europe, the UK and Africa why pay for what you don’t need. By choosing, for example, Worldwide excluding USA, Canada and Japan, your annual policy will be cheaper as you’re ruling out some truly high cost hospital/medical destinations.
Additional ways to save include purchasing your annual travel insurance online and purchasing from the insurance company direct, rather than via the ‘middleman’ travel agent.
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