Travel Insurance

Single trip vs annual travel insurance: What’s the difference?

If you’re planning to travel this year, you’ll have to choose between a single trip and an annual multi-trip policy. But, what is the difference, and which one is right for you? Keep reading to find out.

Single trip policy

Generally, a single travel insurance policy only covers you for one holiday trip. That means it ends when you come back home, and you’ll have to purchase another policy if you travel again. A single trip policy is suitable for anyone who travels once a year as it’s cheaper than an annual cover. The only downside is that it provides shorter-term cover.

It’s vital to note that single trip travel insurance gets more expensive per trip. For instance, if you go on a few holidays each year and take out a single policy each time, the costs add up. Fortunately, you get specific cover for your trip, unlike an annual policy, where the cover is not specific to each trip.

Annual multi-trip policy

An annual travel insurance policy covers you for a year from the date the policy starts. So, whether you go for two or ten trips in a year, you’re protected from any damages, emergencies and unforeseen circumstances.

However, insurers can limit you to around 31 days per trip, with others limiting you for up to sixty days per trip. Be sure to check with your provider to know the limitations of your multi-trip policy.

The beauty of annual travel insurance is that you only need to buy one policy every year, and it’s cheaper per trip.

Which is right for you?

Both single trip and multi-trip policies should cover medical expenses, cancellations, personal money and baggage, which makes choosing one difficult. However, it all depends on your personal situation. If you’re sure you’ll only travel once for the next 12 months, you’re better off purchasing a single trip policy.

Alternatively, if you don’t know how many trips you’ll take in a year, take an annual policy. While it’s more expensive, it gives you peace of mind knowing you’re covered.

Feel free to use our resources here at Compare Insurance to find the right travel insurance policy for you.

Photo: Free image by Pixabay