Annual travel insurance becoming more popular

Research from the Halifax has shown that more people are now choosing to buy annual trip travel insurance rather than single trip. Single trip has until recently been the most common type of travel insurance, but as people are now taking more trips abroad each year they are consequently benefiting from annual policies.

A spokesperson for the Halifax pointed out that due to cheaper travel deals and more people taking short breaks rather than one long holiday more people are taking multiple trips overseas. It therefore makes financial sense to have annual cover.

Annual travel insurance can also include personal liability, medical expenses, legal fees, cancellation cover and compensation for lost possessions.

Halifax stressed the importance of travel insurance and that it should play a vital part of holiday planning. Unforeseen events can lead to extremely high costs in addition to physical and emotional distress. Travellers should always ensure they have adequate cover.

Finally, many banks provide annual travel insurance cover with various current accounts. For example, Alliance & Leicester Premier Current Account customers receive free European annual multi-trip travel insurance, worth up to £60. It is worth checking the small print before you go, just to make sure that everything you need is included, particularly winter sports cover and watersports cover.