By Patrick Chong
If you are considering a trip, whether it is for business or pleasure, it is only sensible to make sure you are adequately insured. Having annual or single trip travel insurance might mean that that one day you are protected from the potentially horrendous costs arising out of misfortune.
Clarifying a misconception
It's not unusual to encounter people travelling to European Union countries who believe that they do not need to get cover. Their logic goes along the lines that they will be entitled to free health treatment should anything go wrong at their destination anyway, so why would travel cover be necessary?
The answer is really straightforward and comes under two categories:
• Firstly, a typical policy will cover you for more than just being taken ill. Examples might include things such as the theft of your baggage or serious delays on the way to, or returning from your holiday or business trip.
• Secondly, reciprocal European Union health arrangements do not mean that you will receive the same free health care as you would in the United Kingdom. They only mean you will receive the equivalent free treatment as would citizens in the country you are visiting. So, for example, things such as medical repatriation to the UK would not be covered.
Don't make the mistake of assuming that annual or single trip travel insurance is a luxury you can afford to ignore.
Single versus annual cover
Broadly speaking, most travellers come under the category of either being once a year holiday makers or regular voyagers. There might be many reasons why you would make multiple journeys each year - perhaps you own property abroad or split your time living between two different countries. It might be the case that you travel regularly on business, or perhaps you are just fortunate enough to be able to take several holidays each year.
Whatever the circumstances, if you are only travelling once per year for your annual holiday, typically, single trip travel insurance might be the most cost-effective approach to protecting your financial interests. Cover might be available for just a few days' duration and for most, though not necessarily all, destinations.
By contrast, if you're travelling perhaps more than twice per annum, it might be sensible to make enquiries about annual cover. That type of policy will typically provide cover for an unlimited numbers of overseas journeys during the year concerned, though there may be limitations relating to the maximum duration of any single journey or once again the destinations permitted. Even if your planned destination is not covered by a standard policy, it may be possible to pay an additional premium and thereby include it under cover.
Whether you choose annual or single trip travel insurance, it's important to think very carefully before travelling without any sort of protection at all.
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.
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