Should I buy an annual travel insurance policy, or just cover myself for the holiday I have booked, and will paying for an annual travel insurance policy save me money over the year? These are questions that we are constantly asked and we can only look at this on a client by client basis. The best way to answer this type of question is to show the advantages of annual policies but set them against their obvious limitations and armed with this information, customers can make their own decision on what suits them best.

So what does an annual travel insurance policy give you?

 The more trips in a year, the more cost effective an annual policy will be.

 Many annual policies have options, such as Wintersports cover, included as standard, but do check the small print.

 It is generally possible to extend the trip duration for a small extra premium which is a much cheaper option than a long duration single trip policy.

 One purchase lasts the whole year.

BUT

 It only provides cover for the area selected. An annual Europe travel insurance policy will not cover a trip to the USA in the same period.

 It’s more expensive as an up front cost.

 Many insurers impose age restrictions for taking out an annual policy.

 There might be restrictions on family annual insurance policies that prevent children from travelling independently

Travel insurance is an additional cost, quite often taken out at the last moment, and although most people recognise that it is sensible to be insured, they don’t want to pay too much. If you can plan ahead and want the flexibility of taking more than one holiday or trip abroad, then buying an Annual travel insurance policy is, more often than not, a good investment, but do make sure that what you buy satisfies your particular needs.