Finance Information

Free "How to Set up a Family Budget" Ebook

More Debt
Consolidation Information:

How to cut your holiday costs with annual travel insurance

Whilst many travelers wouldn't go on holiday without purchasing some level of travel insurance before they leave, many frequent travelers aren't aware that they could save money with an annual or multi-trip policy.

Travel insurance is usually available via your travel agent on a trip by trip basis, also known as single-trip cover. However, frequent travelers may save money by purchasing multi-trip cover. Your individual circumstances will determine whether a multi-trip policy may be the best option for you, but one annual policy will cover you for unlimited trips or holidays within the 12 month term.

Naturally it's a good idea to compare both single-trip and multi-trip policies with any optional extras that you might need.As a general rule a single trip insurance policy may cover you for a 15 day trip away, with most options included, such as trip cancellation cover and medical insurance, either as standard or extra add-ons.

A multi-trip, annual insurance policy may be obtained for approximately twice the price, but cover you for unlimited travel of up to 45 days at a time. You may also find that some annual policies include additional benefits that would cost extra on a single-trip policy.

Buying travel insurance online, single trip or multi-trip will reveal the best deals available. A recent FSA study showed that the vast majority of people simply accept the basic insurance cover offered to them by their travel agency. In fact most people are unaware of exactly what their insurance does cover them for. So be aware that not all travel insurance policies offer you the same level of cover and read the small print of your contract to be sure it meets the recommended minimum requirements:

• Access to a 24 hour emergency help service
• Ombudsman services
• Personal liability to the value of 1m
• Protects against the theft of cash to the value of 250
• Covers potential medical expenses to 2m
• Adequate trip protection cover
• Baggage protection to approximately 2,500

Money Saving Tips

1. Check your home insurance contract you may find that you need only to fill in a few gaps.
2. Also look into insurance policies that will offer you discounts depending on your situation, e.g. senior members or disabled people may receive large discounts. Community and club organizations that you belong to may entitle its members to insurance discounts.
3. A little shopping, and reading around will certainly go a long way to saving you money. Many of the latest price comparison sites such as MoneySupermarket travel insurance can compare multiple providers from accross the market. You can find this and many other insurers at UK Insurance Index.
4. Most importantly! if you take more than one trip a year or intend to go away for more than 21 days, multi-trip insurance could result in big savings.
5. Finally you should consider your chosen holiday destination and activities. Some activities are higher risk than others and will cost more to insure. Check the small print and get quotes from providers who specilise in travel cover for your specific holiday activities.

All in all, if you do your research and shop around it's possible to save considerable amounts as a frequent traveler. As always know what you need, understand any risks in travelling to your destination (visit FCO website) and compare the market.

Debt Consolidation Blog

101 Powerful Tips for Legally Improving Your Credit Score

Credit Card Debt Consolidation

Credit card debt settlement

Credit counseling

Debt Consolidation

Debt consolidation loan

Debt Consolidation Review

Debt Consolidation with Bad Credit

Direct student loan consolidation

Unsecured Personal Debt Consolidation