Annual travel insurance could prove a better deal
With many Brits getting ready to jet off on their summer holidays in the next few months travel insurance sales are set to go through the roof. There are a number of options open to consumers when it comes to purchasing travel insurance cover, such as single trip cover, multi-trip cover, and family cover, but often consumers are not aware which type of cover provides the best value for money and therefore many end up purchasing travel insurance cover that works out more expensive.
Industry professionals from Moneyexpert have stated that consumers could actually enjoy better value for money from opting for annual insurance cover rather than going for a single trip policy. However, officials have also stated that before making a purchase on travel insurance cover consumers should make sure that they check the policy and see what is and is not covered, as it is vital that adequate cover is offered on the policy in order to avoid crippling costs if something happens abroad.
According to one official: "Holiday makers often think that single trip cover is simple and cheap, but the truth is it's often not best value for money. You are certainly paying for a quick fix. As with all insurance, the quality of cover will always vary so like-for-like comparisons are quite difficult to make. Nevertheless it remains the case that you can get annual travel insurance for the whole family without breaking the bank. Focusing on price alone can mean holidaymakers will be left with insurance that is not worth the price. Insurance policies are only tested when you need to make a claim. You don't want to find out when you are making a claim that you've saved money at your expense."
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