What do you need to know about Annual Multi Trip Travel Insurance?
Date Added: February 7, 2011
Author: David Deverson
First of all, the annual multi trip travel insurance cover is also referred to as annual travel insurance, annual holiday travel insurance and annual trip travel insurance. All these terms relate to an insurance policy that covers you for all the trips you may take within a one year period. There is also a single trip insurance policy that covers you for one trip and it is usually cheaper than the multi trip option. For the person who takes more than three trips in a year, the annual travel insurance is cumulatively cheaper.
The Annual multi trip travel insurance is further cheaper when travelling with family as children under the age of 18 may be covered for free. However, this varies from company to company. This policy covers you for an unlimited number of travels per year but the number of days per travel, age of the travelling party and health status are subject to the respective company’s stipulations. The annual travel insurance is particularly meant for overseas travelling and sometimes requires one to reside in a recognised hotel while there. This policy is also more suited for business persons who are always on the go every few weeks.
The best time to take out Annual travel insurance is immediately after booking and paying for air tickets and hotel accommodation. As these two are normally non refundable, or the refund money is normally very little, the annual multi trip travel insurance will come in handy to refund you should you need to cancel the trip as a result of this or that.
There are numerous insurance companies out there, both online and physical, offering the annual travel insurance cover. Many bogus insurance firms realise that travelling abroad is a sensitive issue and as such they are out to rip off potential customers. For trustworthy insurance firms’ coverage you should always buy policies from government regulated establishments. It is imperative that you understand the policies as to what is covered and what is not. Only take up the benefits you really need to reduce the cost as some benefits are already covered in your home or life policies. Check to see whether there is a cover against natural calamities to ascertain your repatriation should such events occur. Some covers in the annual multi trip travel insurance policy are effective immediately you purchase a policy and this is why you are advised to take out the required policy once you have booked and paid for your trip.
With the annual travel insurance package, be sure to confirm about the maximum amount that policy can cover and also the excesses i.e. the amount you are supposed to contribute to foot the reimbursement. Also check out for throw-ins such as free skiing covers and so forth.