Just as we need to purchase insurance for our life, home, and other possessions, we require travel insurance to cover travel risks. Insurance companies provide customised plans for all types of travel so that you do not have to spend a lot of money, even if you are a regular traveller. Standard plans generally cover potential risks for a maximum of 90 days whereas regular travellers may be largely unsure of their travel plans, which are more likely to occur at the spur of the moment.
UK annual travel insurance is designed for those individuals who travel on a frequent basis in a year. This type of annual insurance may be a tad more expensive in comparison with standard plans, but it is highly beneficial because it provides cover for an extended duration because it remains active for the entire year through a one-time premium.
Before purchasing annual travel insurance plans, you need to peruse the fine print and effectively comprehend the terms and conditions in an in-depth manner to avoid massive disappointments later in cases of claims being filed with the insurance company. A majority of travel policies do not provide cover for risky activities such as adventure sports or potential damage to pets.
Another condition that you need to consider is “excess waiver.” This is similar to deductions that a majority of insurance companies have in place where you are required to pay a portion of your claim from your own pocket in order to avoid paying high premiums.
Buying travel insurance online can ensure savings as high as 40% for customers. Because insurance companies save on significant overhead costs by offering policies online, the premiums to be paid are much lower and the risks covered are greater in comparison with policies purchased in the traditional manner. Such extended insurance policies may include insurance of your home and other possessions. Purchasing UK annual travel insurance through the Internet translates into paying lesser premiums for extra coverage.
Insurance companies offer annual travel insurance plans that are tailored to meet the needs and requirements of individuals, groups, or institutions. For instance, families that travel to several golf tournaments in a year may choose a plan called Annual Golf Travel Plan, which will most often provide cover for potential loss of golf equipment as well as potential injury caused to third parties or similar liabilities incurred by playing golf.
For those individuals travelling in groups and require insurance policies for 10 or more individuals, there exist customised Annual Travel Insurance plans for groups, families, and other institutions (such as schools) that organise travel plans for sporting events, major festivities, etc. Family plans are generally restricted to immediate family members, whereas for groups comprising of non-family members, you need to opt for policies designed especially for extended groups. These insurance plans are comparatively less expensive while simultaneously offering insurance cover for every member of the group.
To sum it all up, if you travel on a frequent basis, you need to opt for annual travel policies. You should opt for group travel policies if you are travelling in groups in excess of 10 members. All travel insurance policies have significant limitations and may vary from one insurance company to another.