Frequent Flyers Should Consider Going Annual on Their Travel Insurance Policy

CHESTER, England, October 19, 2011 -

- Annual policies could typically save regular travellers 15 per cent*
- Beware of varying cover levels on travel insurance policies
- Always make sure your policy provides adequate cover for your needs, says MoneySupermarket

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 Britain’s number one 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 atTravelSupermarket.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).

Notes to Editors:

*Based on a family of four taking three types of holiday trips in a year, one week long haul, two weeks European trip and one city break in the UK.

One week of cover for a family of four to the USA = £26

Two weeks of cover for a family of four to Spain = £11.80

One long weekend break to a UK destination = £7.93

Total = £45.73

Annual policy = 38.98, a difference of 6.75 or 14.76 (15) per cent

Family of 4 - Single Trip to USA for 1 week

                                       Medical Expenses Cancellation  Baggage
    Provider                   Premium           Cover*       Cover*   Cover*
                                                            GBP3,000 GBP1,500
    Holiday Extras                         GBP5,000,000      (GBP150  (GBP150
    Supersaver                GBP26.00  (GBP150 Excess)      Excess)  Excess)
                                                            GBP3,000 GBP1,500
    Debenhams                             GBP10,000,000      (GBP100  (GBP100
    Essentials Single Trip    GBP27.00  (GBP150 Excess)      Excess)  Excess)
                                                            GBP5,000 GBP1,500
    Preferential Direct                   GBP10,000,000       (GBP75   (GBP75
    Direct Deluxe Single Trip GBP34.10  (GBP100 Excess)      Excess)  Excess)

Family of 4 - Single Trip to Egypt for 1 week

                                       Medical Expenses Cancellation  Baggage
    Provider                 Premium             Cover*       Cover*   Cover*
                                                            GBP3,000 GBP1,500
    Debenhams                             GBP10,000,000      (GBP100  (GBP100
    Essentials SingleTrip   GBP10.42    (GBP150 Excess)      Excess)  Excess)
                                                            GBP3,000 GBP1,500
    Holiday Extras                         GBP5,000,000      (GBP150  (GBP150
    Supersaver              GBP11.00    (GBP150 Excess)      Excess)  Excess)
                                                            GBP3,000 GBP1,500
    Protect your bubble.com               GBP10,000,000       (GBP75   (GBP75
    Classic Single Trip     GBP14.80     (GBP75 Excess)      Excess)  Excess)

Family of 4 - Single Trip to Caribbean (Barbados) for 1 week

                                       Medical Expenses Cancellation  Baggage
    Provider                   Premium           Cover*       Cover*   Cover*
                                                            GBP3,000 GBP1,500
    Debenhams                             GBP10,000,000      (GBP100  (GBP100
    Essentials Single Trip    GBP23.71  (GBP150 Excess)      Excess)  Excess)
                                                            GBP3,000 GBP1,500
    Holiday Extras                         GBP5,000,000      (GBP150  (GBP150
    Supersaver                GBP26.00  (GBP150 Excess)      Excess)  Excess)
                                                            GBP5,000 GBP1,500
    Preferential Direct                   GBP10,000,000       (GBP75   (GBP75
    Direct Deluxe Single Trip GBP34.10  (GBP100 Excess)      Excess)  Excess)

Family of 4 - Single Trip to Maldives for 1 week

                                       Medical Expenses Cancellation  Baggage
    Provider                 Premium             Cover*       Cover*   Cover*
                                                            GBP3,000 GBP1,500
    Holiday Extras                         GBP5,000,000      (GBP150  (GBP150
    Supersaver              GBP22.00    (GBP150 Excess)      Excess)  Excess)
                                                            GBP3,000 GBP1,500
    Debenhams                             GBP10,000,000      (GBP100  (GBP100
    Essentials Single Trip  GBP23.71    (GBP150 Excess)      Excess)  Excess)
                                                            GBP3,000 GBP1,500
    Protect your bubble.com               GBP10,000,000       (GBP75   (GBP75
    Standard Single Trip    GBP28.80     (GBP75 Excess)      Excess)  Excess)

Family of 4 - AMT Worldwide Inc USA

                                                        Cancellation  Baggage
    Provider             Premium Medical Expenses Cover*      Cover*   Cover*
    Protect your
    bubble.com                                              GBP3,000 GBP1,500
    Standard AMT (21                       GBP10,000,000      (GBP75   (GBP75
    days per trip)      GBP38.98          (GBP75 Excess)     Excess)  Excess)
    Debenhams                                               GBP3,000 GBP1,500
    Essentials Annual                      GBP10,000,000     (GBP100  (GBP100
    Multi-Trip          GBP52.19         (GBP150 Excess)     Excess)  Excess)
    insurefor.com
    Premier Annual                                          GBP5,000 GBP2,000
    Multi-Trip (31 Days                    GBP10,000,000      (GBP50   (GBP50
    Per Trip)           GBP66.11          (GBP50 Excess)     Excess)  Excess)

*Benefit may be subject to excess

Sourced by www.moneysupermarket.com 17.10.2011

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