Understanding Different Types of Travel Insurance
When preparing for a trip abroad, it’s important to consider getting appropriate cover to protect the value of your items and any unexpected medical costs. There are many types, however – single trip travel insurance, cover for business travellers, and many more – and knowing which policy is best for you can help to save you money. It can also help you avoid any complications from booking the wrong cover should you need to make a claim during or after your trip.
Whether you’re wanting to book coverage for multiple trips or a single trip, travel insurance has become easier to find and many companies offer free quotations and booking online. This article lists a few of the different kinds of cover out there, in order to help you decide which one might work best for you.
Single Trip Travel Insurance
Single trip travel insurance is perfect if you don’t go on holiday overseas more than once a year, and will cover the specific set of dates and places. This is the most cost effective way to make sure that you and your belongings are going to be covered for your annual overseas trip. This is a one-off investment that can usually be booked completely online, making it cheaper than going into high street travel agencies. Oftentimes you can find cover of this kind for less than £10 for shorter trips.
Annual Multi Trip Cover
If you think that you might be travelling overseas more than once in a year, your best bet might be an annual multi trip travel policy; it can cover you all year long for a specific geographical zone, with many plans covering all trips to EU, USA and Canada. If you’re planning on travelling outside of Europe and North America, you might want to check with your provider to make sure that the country is included in your policy.
Annual Business Cover
If you’re a frequent traveller for business you can often get a better deal than if you’re travelling primarily for leisure. These policies will often also include cover for lost documents that need replacement (including priority shipping), damaged equipment, and might even cover the cost of travel (transportation and accommodation) should you or a colleague fall ill and be unable to take the trip.
War Risk and Travel Hazard Areas
Frequently, the Foreign and Commonwealth Office (FCO) updates a list of countries or regions that have recently been affected by war or that are currently experiencing war related disruptions. Many companies will not cover travels to these countries during their inclusion on the FCO list, so if you suspect this affects the country you’re travelling to, it’s best to check it out to make sure before you go, so you don’t have any surprises if you have to make a claim.
Patrick Chong is the Managing Director of Insuremore. We provide low cost travel insurance and offer a range of policies including single trip travel insurance, annual, multi-trip and family cover. For all your travel cover needs, Insuremore can help you in the quickest and most cost-efficient way.