25 December, 2013: A recent study from a leading online portal has shown that, for travelling to Europe it may be cheaper to take out single-trip insurance policies from companies such as Insuremore, rather than to take out an annual plan.
The study in question was conducted by Which?, a website offering reviews and professional advice in a variety of fields, including insurance. For this case study, the portal’s professionals tested 69 companies in Insuremore’s field, comparing the prices they offered for a 60-year-old traveller for three individual trips to Europe, and the amounts they asked for to set up an annual policy for the same age bracket and destinations.
In 37% of the cases analysed, Which? found the sum of the prices for the three individual policies to still be lower than the amount required for setting up a year-round travel insurance policy. According to the insurance companies this is because travellers over the age of 55 are more likely to take multiple trips each year, making annual policies more expensive for that age bracket than for younger travellers.
The web portal also found this discrepancy in prices only applied for trips to Europe and trips to other destinations worldwide, such as the USA and Canada, worked out cheaper if an annual insurance plan was taken out, as opposed to a different individual one for each of the trips. This is because travel insurance for these types of countries has to account for the higher cost of healthcare and other such â€˜necessary evils’.
In conclusion, Which? advised its readers to assess their options before deciding which type of policy to take out. According to the website’s experts, a traveller’s age should be taken into consideration (for reasons partially clarified above), as should the number of yearly trips that traveller plans to take and the destinations he or she plans to visit. Potential travellers should also be aware that the maximum length of any trip covered by an annual travel insurance policy, including that of Insuremore, is 31 days, the article concludes.
Insuremore provide a range of low-cost travel insurance policies for the B2C market, including single-trip, multi-trip and family insurance. Contact them at http://insuremore.co.uk/ .
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844 567 8238
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