Types of travel insurance available
Single trip and annual trip travel insurance, these two policy types are fairly self-explanatory. Single-trip travel insurance covers you for one specific holiday. Buying annual travel insurance (also known as ‘multi-trip travel insurance’) covers you for several holidays over the course of the year and can offer large savings in comparison to booking single-trip insurance every time you travel – they usually only cost about two-and-a-half times the price of a week’s cover.
Annual travel insurance also offers a convenience factor - you only have to book once for the year rather than buying a policy each time you plan to travel – especially useful for those who tend to be forgetful. One thing to be wary of however, is the number of days the policy will cover you for. In some cases this is unlimited, but some policies only cover you for 21, 35, or 45-day individual trip lengths.
An annual policy covers you for one year from the start date you choose – so be sure to choose that date carefully. It might seem obvious to just choose the first day you plan to travel, however cancellation cover will only begin from this start date, so think ahead - you may prefer to choose the date you booked the holiday instead.
Family policies allow you to cover parents and children together rather than take out individual policies for each person. Some travel insurance companies will offer a variety of premiums within this range depending on the number of children you have, whether you’re a single parent family etc. Others will offer one standard policy that does not reflect the number of children in the home, offering the same policy terms whether you have one or six children – which obviously works out well if you have a big family!
Children are classed as being under 18. The main advantage of the family insurance premium is the massive savings available – they can be bought for as little as £50, meaning you can effectively cover your children for free. However, check the terms of the policy carefully to make sure it adequately meets your needs.
Business travel insurance is generally only available as an annual policy because the expectancy is that you travel as part of your work and therefore will make trips on multiple occasions. It is tailored specifically to the needs of the business user with cover for office-related equipment such as laptops and PDAs. Some policies will also cover sports equipment, as many deals are resolved on the golf course. An additional option with business travel insurance is colleague replacement cover. This will allow a colleague to go in your place in case you fall ill and cannot make the trip.
Previously, the options available to older members of the public have been limited when it comes to choosing travel insurance, particularly since many insurers have opted not to cover the ‘higher risk’ age categories. There is some good news however - our price comparison tool compares quotes and cover for travelers aged over 65, meaning there is the opportunity to shop around for the best quote and less pressure to visit a travel agent or a specialised provider.
Among the key benefits for those aged over 65 are expanded emergency and medical expenses (up to £10m as opposed to the usual £2m), further cover for cancellation and curtailment as well as additional cover for departure delays.