Travel Agency

How To Determine Whether A Single Trip Or An Annual Travel Insurance Policy Is Right For You?
by Ron Froh

There are many different types of traveler who requires travel insurance coverage. Many people save all year to enjoy a vacation at a beach destination or resort. Others, like business people, travel frequently as their lifestyle requires. The travel insurance industry has recognized the variety of traveler. In doing so, the Canadian travel insurance companies have designed different type of insurance plan to meet the needs of both types of traveler.

Single Trip travel insurance coverage is designed to cave the traveler for the exact number of days that they plan to be away. Coverage can be purchased for trip that last anywhere from 2 days to 182 days (212 days in Ontario). In special situations where the traveler has arranged to extend their provincial health coverage, the trip length may be extended to 1 year. The benefit of single trip coverage is that you purchase only the number of days you are away. This ensures you do not pay for days of coverage that you do not require.

Coverage normally includes Emergency medical insurance up to $5 million worth of major medical expenses and hospital expenses. This usually includes emergency medical evacuation, dental accidents and other benefits. Comprehensive or All-Inclusive coverage can also be purchased in Single Trip plans. Comprehensive normally plans bundle Baggage, Trip Cancellation/Interruption and Accidental Death and Dismemberment coverage along with the Emergency Medical coverage.

Annual or Multi-Trip Travel Insurance

The other type of travel medical insurance is the annual or multi-trip travel insurance plan. This plan is perfect for business owners, corporate executives, and any other frequent traveler who requires travel insurance coverage for multiple trips within a year.

One of the key advantages of this type of plan is that coverage is already in force when last minute travel is required. This avoids the need to scramble to buy travel insurance at the last minute. Also, purchasing annual multi-trip insurance is cheaper for frequent travelers. The cost of an annual plan is normally the equivalent cost of 2 single trip plans.

Annual travel insurance plans normally include emergency medical coverage up to $5 million during the life of the policy. The plan is purchased to cover a set number of days for each trip. Trip lengths can be purchased with periods from 4 days to 180 days of coverage. If your trip happens to last beyond the maximum length allowed, you may then buy a top up to cover the days in excess of the number of days the annual plan covers.

Whatever plan you may choose to purchase, be sure to select the right one that suits your needs best. Always be sure to carry the policy of the insurance with you. Call us at 1-800-270-8058 or visit our website at http://www.travelinsurancequotes.ca to quote and purchase your single trip or annual travel insurance.

About the Author

Ron Froh is the founder of OIQ Insurance Solutions Inc.. A 15 year veteran as a Canadian financial advisor, now focusing on delivering online insurance services to the Canadian consumer. Travel Insurance Quotes Canada and Seniors Travel Insurance Canada have been developed to aid Canadian consumers to research, compare and purchase Canadian Travel Insurance online.