Annual Travel Insurance Vs Single Trip Travel Insurance – Which is Better?

Traveling and taking holidays can be a lot of fun, but it can also be scary. If something goes wrong, you may find yourself in a foreign land amongst foreign people with no idea where to turn for help. Travel insurance prevents this from happening by helping you through all of the unforeseen circumstances that may befall you on a trip. Travel insurance can help cover expenses if you become ill or injured, lose your luggage, have a car accident or have to change your plans due to weather or illness.

There are two basic types of travel insurance: annual travel insurance and single trip travel insurance. Annual travel insurance is purchased annually and covers all of your travels for the entire year. Single trip travel insurance is purchased at the beginning of each trip and is only good for that trip.

There are benefits and drawbacks associated with each type of travel insurance. The following two sections will address the pros and cons of each.

Pros and Cons of Annual Travel Insurance

When you purchase annual travel insurance, you pay a one-time fee. This fee covers the cost of the insurance for the whole year. If you travel a lot, this price is almost always less than you would pay for multiple single-trip policies. But the price for annual travel insurance is also more than you would pay for one or two single-trip policies. So you need to have a clear idea of how often you will use the insurance before you spend the money for it.

Annual travel insurance is ideal for people who travel a lot. Business professionals, people with family living abroad, and families with holiday homes usually benefit the most from such a policy. Students who have to travel back and forth from school may also benefit from this type of policy.

Pros and Cons of Single Trip Travel Insurance

Single trip travel insurance is the most cost effective way to purchase travel insurance if you only have need of it a couple of times a year. It is spontaneous. You can purchase travel insurance prior to any trip even if it is spur of the moment. It is also inexpensive. Single trip travel insurance normally costs about four to seven percent of the entire cost of any prepaid trip.

If you make a lot of spontaneous trips, however, you could end up spending more than you bargained for if you purchase a separate policy each time you leave town.

Both annual and single trip travel insurances offer the same coverage. The only real discrepancy between them is cost. Therefore, you need to choose the most cost effective way to purchase the insurance that best meets your needs. If you have any doubts, talk to a travel agent. They will be able to help you compare prices and coverage options. The most important thing is that you always travel while insured. You need to be prepared for everything that may happen.

CDC Travel Information

The CDC is a government controlled organization known as the Centers for Disease Control and Prevention. It is based in Atlanta and the major function of this organization is to diagnose and investigate causes of new diseases and also tries to control them from turning into an epidemic. It regularly publishes a journal called the CDC Health Information for International Travel. This journal basically guides travelers into taking certain precautions before he or she leaves for their excursion. The CDC travel book explains the most common diseases and information on how to prevent it.

This travel book has various features, some of which are listed below. Some of the essential points are:

It features content ranging from safety guidelines to specific treatments for diseases which are useful to both, doctors and the patients
It provides references in each chapter, so that the reader can cross-check the facts given in the book
The book also covers treatments for patients with specific needs while traveling, such as patients preparing for long-term travel, travelers with chronic medical conditions, young children, humanitarian aid workers and so on.
Talks about the new emerging diseases and ways to deal with them, straight from the experts

CDC travel guidelines are an off-shoot of the guidelines put together by CDC. These pointers are generally meant for tourists who are traveling to the developing countries like Thailand, Africa, India and so on. There is a section in the CDC Health Information for International Trvel 2010, also known as, “The Yellow Book” pertaining to information.

CDC health information guidelines include tips on how to plan for healthy travel. Some of the points are:

Travelers should gather information regarding the place they are visiting. Make a note of the precautions that can be taken, if any mentioned.
The CDC is a great platform of information. It covers a number of diseases, countries, vccinations to the diseases and the location where they are administered and so on
It is important to see a health-care worker and get the latest guidelines on the diseases and ways to avoid them and vaccinate themselves accordingly. The destination does not matter; be it a developed nation or a developing one.

CDC travel also includes travel health kits which is an important component of a person’s health-kit. Medications are very crucial but so are the points that are listed below:
Original containers: Medicines need to be carried in their original containers. Though many travelers do pack in their medicines in air-tight containers, officials do check the containers and the medicine.

Physician notes: For substances and injectable medication, travelers need to carry a note from the physician attesting to the same

Prescription: Travelers must carry the prescriptions of all their medicines, including the generic names

These are some of the basic precautions and tips, one is recommended to follow to have a disease or an injury free trip. It does seem like a lot of work, but the attention to detail mindset, will help the traveler in the end.

Annual Multi Trip Travel Insurance

Multi Trip Travel Insurance is also known as Annual Travel Insurance.

With an annual multi trip you can take unlimited trips in a 12 month period. It is ideal for anyone who takes more than 3 trips a year, especially for anyone with a family because most multi trip insurance allows for up to 4 children for free.

Benefits and advantages of multi trip insurance:

  • Take unlimited trips annually. (depending on the insurer, each trip duration limit can range from 30 days to up to 60 days).
  • Children are insured for free, usually up to 4 children under the age of 18. Please note that children are covered only if they travel with one of the insured adults.
  • Some of the insurers throw in a Free Ski Insurance ranging from 7 days – 21 days annually.
  • Few Annual covers provides domestic travel insurance. This usually has a minimum distance and will require a hotel stay as well. The domestic travel insurance cover makes the Multi Trip Insurance even more compelling economically.
  • It works out cheaper if you take 3 or more trips a year, especially if you add up all your business and holiday travel cover.
  • Multi Trip Insurance cover is ideal for contract workers who have to travel a few weeks at a time on project related work.

Why You Need Travel Insurance

We are most vulnerable when we travel and Trip Insurance is the only way to protect yourself for monitory loss incurred due to circumstances beyond your control. These eventualities can occur at any time before or during travel and its essential to have protection against them. Here are some examples of why you need travel insurance:

  • You meet with an accident on the way to the airport and subsequently miss the flight to your non-refundable holiday.
  • You or your family member falls ill a few days before the holiday, forcing you to cancel your trip.
  • Your baggage is lost or delayed by the airline and you are forced to buy the essentials. In the event it’s lost, the airlines pay very little as compensation, so you need insurance.
  • You or your family members meet with an accident or fall ill and require medical attention or surgery whilst on holiday. This can prove to be very expensive depending on which country you are in, especially if it requires medical evacuation.
  • You accidentally damage someone else’s property or person and require legal representation and or have to pay 3rd party damages.
  • Travel insurance for activity holidays like skiing, etc., where there is a greater change of injury, damage and loss.
  • In case your expensive equipment or possessions like jewelry, camera, ski equip, etc., is damaged, stolen or lost.
  • You are forced to evacuate because of a natural calamity and lose your possessions in the bargain. Some situations require emergency evacuation as well.
  • You and or your family members get food poisoning and needs hospitalization.
  • You need someone to fly out to you in the event you are hospitalised.