When adventurous Brits head off for some skiing this winter, they could be paying more than they need to by getting single trip travel insurance when an annual travel insurance policy could represent better value for money.
According to research from moneysupermarket.com, Brits who are travelling long haul to their winter holiday destinations would be better off opting for an annual travel insurance
policy, which usually offers similar or better cover than single-trip cover, offering more peace of mind for less cost.
A family of fun-seekers heading to the US, for example, could save with a annual multi-trip travel insurance
policy at £60, compared to the cost of single-trip cover for the family at a cost of at least £76 – a minimum saving of 27 per cent.
This doesn't apply to Brits who are hitting the slopes a bit closer to home, however, the comparison website found, when a single-trip travel insurance
policy proves to be the cheapest option.
A family holidaying in Europe could get a single-trip policy with winter sports cover for as little as £27, whereas the cheapest annual insurance policy that moneysupermarket found was almost £60, which would only represents the best value for those who intend to travel more than once a year.
Andy Leadbetter, managing director of insurance at moneysupermarket.com said that "when it comes to insurance it’s worth questioning what sort of traveller you are. If you’re likely to take several trips to Europe within 12 months then an annual policy of course makes sense. However, even if you’re only planning one trip further afield, worldwide annual multi-trip insurance is the better option and you don’t even have to scrimp on the level of cover you receive.
"As we hurtle headlong into ski season I strongly stress the importance of checking the small print on your policy for all winter sports you intend to do, especially if you plan to go off-piste" he continued. "Medical treatment can be extremely costly whilst abroad and so medical expenses and personal accident cover are a vital part of your policy. Cancellation cover is also crucial and must meet the cost of your holiday; for example, £1,500 of cancellation cover may not even be enough to cover flights alone if you are flying further afield for a snowy adventure. Finally always check you have adequate cover for loss, theft or damage to your possessions to avoid spoiling your winter getaway."
moneysupermarket recommends that winter sports travellers ensure they have at least £2million cover for medical expenses, £1million personal liability cover, sufficient cancellation protection to cover the cost of the holiday, £1,500 baggage cover, and £250 cover for cash.
© Fair Investment