Travel Insurance - Annual cheaper Confused

EdGasket

I am travelling to Hong Kong and Cambodia for a maximum of 25 days. I have found that an annual policy is cheaper than a single-trip policy from both InsureFor and Bupa. How can that be, am I missing something important?

The annual policies have a max trip limit of 31 days so that is OK; is there anything else that I should watch out for? All the advice I've seen is that annual trip insurance is only cost effective for three or more trips but it is actually cheaper than a single trip for the quotes I am getting!

dacouch

It's fairly common for an annual multi trip policy to be cheaper than a single trip policy if you're travelling outside of Europe.

It's down to the way the premiums are worked out and also has an element in that you're more likely to stay with the Insurer on an annual multi trip by renewing with them so they have the chance to build a long term relationship / make more money.

Ensure you choose an Insurer that covers what you need and is with a decent Insurer

EdGasket

Well InsureFor is cheap but some people have had bad experience. I am only really interested in the health cover. Do you know anything about BUPA travel insurance? Their quote was not too much more than InsureFor. I can only find one review from the Guardian I think.

Quentin

Google which? recommended travel insurance for their independent advice

EdGasket

Quentin wrote: »

Google which? recommended travel insurance for their independent advice

Well Which? recommend Saga:

http://www.which.co.uk/money/insurance/reviews-ns/travel-insurance/which-recommended-providers/

But when you check reviews on ReviewCentre, they are very poor:

http://www.which.co.uk/money/insurance/reviews-ns/travel-insurance/which-recommended-providers/

24 one stars out of 32 reviews! Back to square one.

What I want is an insurer I can rely on to help if I or a member of my family are taken ill abroad. I don't want unanswered phones, 'can't verify your policy until monday', endless admin until you feel inclined to give up claiming etc.

(I checked Bupa; they are a front for TravelGuard which have some poor reviews)

Any recommendations from this forum from people who have had a good claims experience when taken ill abroad?

Nikiya

I feel for you Ed... insurances are all good until you actually NEED them... I am with one foot on the plane and still undecided. Over 60s are made to pay three times more. The Saga site does not even work so I had to get a quote on the phone. I also read Which reviews but they do not match actual users' opinions. I do know the Platimun Amex card (quite expensive) provides insurance when traveling and a friend of mine swears for it.

InsideInsurance

On the question of pricing, you have to remember a few things, first of all, with Annual cover insurers will attempt to automatically renew it each year and the majority of people do so they are not just looking at one policies income but multiple years.

Secondly, they price on the average customer. When you buy a 25 day single trip you will be priced as the average person taking a 25 day trip. When you buy annual cover though you are priced as the average person and the average person probably doesnt take a 25 day holiday. Whilst its "world wide cover" the average person probably take more holidays within europe on an annual policy than to the far east or USA etc.

On the surface it may look odd but there are lots of mathmatitions that are far brighter than me that make sure the numbers stack up

EdGasket

I decided on a Liverpool Victoria policy. It was dearer but was one of four recommended providers (can't remember now but might have been in the Telegraph). Not the cheapest but not too much more than the internet cheapies. Interestingly though it does not cover missed departure and hence I only chose a single-trip as this time I am on standby flights anyway but usually I like to have missed-departure cover in case the train breaks down etc. which is always a worry at the start of a holiday.

Also of note: in the small print of InsureFor's annual policy it said cover would only be provided where a return ticket to the UK had been purchased in advance; no good for me on standby as my tickets are one-way.

Thanks for the replies.

dacouch

InsideInsurance wrote: »

On the question of pricing, you have to remember a few things, first of all, with Annual cover insurers will attempt to automatically renew it each year and the majority of people do so they are not just looking at one policies income but multiple years.

Secondly, they price on the average customer. When you buy a 25 day single trip you will be priced as the average person taking a 25 day trip. When you buy annual cover though you are priced as the average person and the average person probably doesnt take a 25 day holiday. Whilst its "world wide cover" the average person probably take more holidays within europe on an annual policy than to the far east or USA etc.

On the surface it may look odd but there are lots of mathmatitions that are far brighter than me that make sure the numbers stack up

I'm not too keen on picking up other people's spelling but this amused me and reminded me of



Benny Hill in the Italian Job