TOP RATED ANNUAL TRAVEL INSURANCE POLICIES
* How does our five star rating work and what does it mean to the consumer?
Our rating takes into account policy cover, customer service, policy wording, additional benefits, website, quotation system and of course competitiveness. In respect of the top ranked policies, we consider them to be the best value for money based on the cover provided.
We have awarded four and five star ratings, to policies that have market leading levels of cover and comprehensive benefits, combined with a competitive premium.
*The premiums quoted are based on the following three scenarios. These have been chosen, to provide you with a strong indication of a companies overall competitiveness.
1. Family of four travelling worldwide, ages 45, 42, 10 & 8
2. A couple travelling to Europe aged 55 & 52
3. An individual travelling worldwide including USA and Canada aged 27
- In Brief
Travel has become cheaper and easier, and more of us are having several holidays a year. Getaway breaks to Europe are just as popular as a weekend in Brighton.
If you are planning to take two or more trips abroad in a year, then a yearly travel insurance policy or multi trip travel insurance as it is also known, may save you money. Purchasing several “single trip insurance policies” may well work out to be more expensive than an annual one.
- Who is it For?
An annual travel policy is suitable for individuals, couples, families or small groups, who are planning to take at least two trips away a year. The policy is ideal for individuals or couples who regularly take advantage of last minute bookings, or who are in a position to take a break at the drop of a hat and may not have time to organise any Insurance before they leave.
- What I need to know about Annual Travel Insurance
It is a very common popular policy, but cover can vary greatly between Insurers. Medical Expenses cover starts at £5 million, but I recommend a minimum of £10 million to be on the safe side. Cover is available for just Europe or Worldwide, so think carefully about whether you intend to travel outside the European Union.
Even though the policy is an annual one, some Insurers restrict the total number of days per year you can spend abroad, so look for a policy that offers an unlimited number of trips.
The length of individual trips however are restricted. The standard number of days per trip is 31, but some Insurers offer 45, 60 or 90 days as standard, whilst some charge an additional premium to extend the cover.
Whilst this policy is more flexible than a single trip travel policy, you still need to think about, the length of your vacations and the areas you might be visiting. If you are really not certain, it would make sense to take out a worldwide policy with as long a trip period as possible.
If your travel has to do with business, then many annual policies offer an extension to cover this, although they normally exclude any manual work and I recommend comparing it carefully with a specialist annual business travel policy.
- Important Considerations
When is annual multi trip cover not suitable? An annual holiday insurance policy may not be suitable if you will be staying at your holiday destination for longer than 90 days. In this scenario you would need to take out a long stay travel policy.
It may not be suitable if you are undegoing medical tests for an existing condition that could mean you’d need to declare pre-existing conditions before you travel later in the year.
In this instance a pre-existing medical condition single trip policy taken out just before travelling would ensure you are correctly covered.
You should also be aware that many annual insurance policies have upper age limits normally 60 – 65. Anything over this age is either not available, or very expensive, as Insurers have to factor in the increased risks involved. There are however Insurers that specialise in holiday insurance for over 65’s and you can read about them here.
All policies exclude any claim that is alcohol related. As most people will have a drink when they go on holiday, this is an important consideration. The top policies offer guidance as to what is deemed acceptable and if drinking is going to be an important part of your vacation, then look for a policy that provides a benchmark.
Click here to find out more about Backpacker Travel Insurance.