Why You Should Choose a Single Trip Policy Over an Annual Policy

For those looking to travel abroad, the question of how to insure is sometimes perplexing. Some travelers prefer single-trip coverage. Others prefer an annual protection policy. Major risk takers buy no trip protection at all. Of these three policy options, the one that is unacceptable is to not buy any travel insurance at all.

Differences

The two options left are the single-trip policy and the annual insurance policy. There are several reasons to consider one over the other. First is the number of trips planned for the year. Then the amount of coverage needed. And finally, the type of activities planned during the journey. Bear in mind that a single trip policy begins at the moment of departure and ends at the time of return, no matter how long that trip may take. The annual plan starts at the onset of the year and continues until a new year arrives, no matter the number of travels.

Similarities

Both the annual and the single trip policies cover the same occurrences. Both annual and single trip plans include medical emergency costs, even dental. These plans generally cover trip cancellation costs as well as lost, stolen, or damaged baggage as well. Any other items that need coverage the customer adds before purchasing trip protection.

Considerations

The basic choice of the plan comes down to the number of trips scheduled for the year. Work schedules limit most U.S. families into one or two trips abroad per year. The cost of single-trip insurance package is less than one-half the cost of an annual package. That makes single-trip insurance the logical choice for families limited in vacation time. If you plan to take more than two trips abroad during the year, then annual travel insurance is your best option.

There are some other considerations when purchasing your travel policy. Pre-existing conditions are not covered by travel protection. Any pre-existing condition that results in an emergency medical visit is not covered unless you purchase a policy with a pre-existing condition exclusion waiver.

Conclusion

The concluding factor involving travel abroad is to always buy insurance. To not purchase insurance is to invite catastrophe. Compare your options on our site to help you to decide the economic advantage of plans. Take a look and choose the best plan for your trip.