Our travel insurance policies range from single trip insurance, where you’re covered for a specific one-off trip, to annual travel insurance policies, where you’re covered for as many trips as you like for a whole year... let's take a look
Why is travel insurance important?
One way to make sure you’re stress-free when travelling is to have travel insurance. Whether your flight gets cancelled or, your luggage gets lost, or you fall ill and need medical attention while abroad, travel insurance can save you a lot of money and reduce the added stress if things do go wrong whilst you’re travelling - making sure you can enjoy your well-deserved break like you’ve planned to. According to the ABI every week, 3,000 Brits need emergency medical treatment while abroad, so if you don’t want to find yourself with a very expensive medical bill on your return to the UK it's important to make sure you have an up to date and accurate travel insurance policy.
Different types of travel insurance, which one should I choose?There are a few types of travel insurance, the main two being single trip insurance and annual travel insurance. To make it easy to choose, we’ve explained the differences between the two…
What is single trip travel insurance?Single trip insurance covers you for the duration of one trip and the cost is usually cost dependent on the length of the trip as well as the destination. A few other factors include your pre-existing medical conditions and your age.
Research has found that Brits tend to go abroad an average of 1.3 times per year, so if you’re part of those that only travel around once per year then a single trip insurance is more suited to you. Depending on your age, single trip insurance might be the best option for you. Many insurers will not offer annual travel insurance for travellers over 75 to 80 years old, so you will need to get single trip cover which often has no age limit. If you’re looking to purchase travel insurance from LV= you can opt for an annual travel insurance policy as long as you’re under the age of 80, if you’re over 80 you will have to opt for a single trip policy, as this has no limits.
If you’re also planning to take a long trip then you might have to opt for a single-trip policy, because many annual policies come with a limited number of days you can travel for, for example 31 days. With LV= you're covered for up to 31 days per trip on our Annual Essential policy or up to 90 days per trip on our Annual Premier policy.
However, if you’re planning to travel multiple times a year then you should definitely continue reading to find out about the benefits of an annual travel insurance policy.
Pros and cons of single trip travel insurance
Why choose single trip travel insurance?
- A single trip policy can be cheaper than annual travel insurance, especially if you’re only going on one holiday a year
- There’s a higher age limit on the policy, or no age limit at all
- You only pay for the number of days you’re away and the location that you will visit
What should you consider?
- Since single trip cover is based on fixed dates, if you extend your trip you may not be covered by your travel insurance policy
- It can be time consuming, as every time you go away you need to purchase a new policy
- Not to mention, you may forget and end up leaving it to the last minute, which could reduce your protection if flights are cancelled before the policy is in place
- If you travel frequently it can be a lot more expensive than taking an annual travel policy
What is an annual travel insurance policy?
Annual travel insurance policies, similarly to single trip insurance, vary depending on factors like locations, pre-existing medical conditions as well as age. If you travel often, an annual policy could work out cheaper than taking single trip policies, but it’s also more convenient as you only have to do it once…
When looking at annual travel insurance policies, make sure your policy gives you the cover you need. You'll want to consider:
- Medical Expenses
- Medical repatriation
- Cancellation and curtailment (cutting short your trip because of unexpected events like illness, injury and death)
- Missed departures
- Lost baggage and personal possessions
- Personal liability
Research has shown that if you’re going on three holidays, each one week or more at a time, an annual policy will be cheaper, no matter age or location. Plus, any domestic holidays are usually also covered under your annual travel policies, and there’s no limit of holidays you can take per year (but some do have a limit on the number of days covered) so, the more you travel the more you save!
Within annual policies there are different regions you can choose, for instance, Europe or Worldwide (including or excluding the USA) so make sure you purchase the one which covers you for the places you intend to travel to!
Don’t forget: Be sure to check your policy and how many days you can be away for at one specific moment in time, if you go on a long trip you might not be covered after a certain number of days.
Family or group policies
There are also different policies you can take within annual policies, for instance you can get one to cover yourself as an individual, or if you have a partner you could get a couples policy or even a family one if you have little ones that will go away with you.
At LV= you can choose a group policy, which allows cover for up to 10 people, with everyone going on your trip having the same level of cover. And if you take an annual group policy, you don’t have to travel together at all times - as long as everyone named on your policy is aged 22 or over, our policies will cover you to travel separately. If you would like for anyone that is part of your group policy aged 16 to 21 to be covered to travel independently you can select the option for unaccompanied travellers aged 16-21.
Pros and cons of annual trip travel insurance
Why choose annual travel insurance?
- Annual travel insurance policies can be great value for money if you’re a frequent traveller
- It’s time saving, as you only need to purchase it once (every 12 months)
- You can travel as many times as you want within 12 months, but be wary as the days that you’re covered may be limited
What should you consider?
- Annual travel insurance policies can be more expensive if you don’t travel enough or if you have a pre-existing medical conditions
- There are age limits, LV has an age limit of 80 years old for annual travel policies, so if you happen to be over the age of 80 you will have to opt for a single trip policy.
Other things you should know about annual travel insurance policies…
There’s still a few more things to know before buying an annual travel insurance policy:
- You must declare any pre-existing medical conditions before you apply
- Check how much your policy covers you for, if your baggage is worth £2,000 make sure your insurance is covered for at least this amount
- You might need to add a winter sports and ski cover, if you’re planning on hitting the slopes!
- Remember to have your insurance booked at the time of planning your holiday, because purchasing it later might mean additional expenses!
What happens if I leave buying insurance until the last minute?
Often you’re able to purchase insurance policies right up until the time you leave home, however, purchasing insurance at the time of booking your holiday means if you need to cancel your trip before your departure date, your insurance is in place to make a claim!
We know that when you’re planning your holiday, travel insurance is probably the last thing on your mind, however you never know what could happen so it’s always best to be prepared … Better safe than sorry!
Now that you have all information at hand it’s time to purchase your preferred policy for a stress-free holiday. Don’t forget to read your terms and conditions to know exactly what your single trip or annual trip insurance will cover.
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