UK travellers can expect savings on Annual Multi-Trip policies of up to 29% depending on the regions and age group selected.
Photo © Getty Images / Westend61
London (October 2024) This autumn World Nomads, the global travel insurance company has announced comprehensive price drops across its Standard and Explorer Annual Multi-Trip travel insurance policies as the travel insurance’s own consumer research* reveals that a quarter (25%) of Brits admit that they don’t buy travel insurance because they can’t afford it despite nearly 40% taking two or more holidays a year.
UK travellers can expect savings on Annual Multi-Trip policies of up to 29% depending on the regions and age group selected.
One of the biggest drops can be enjoyed by those aged 26-35 on a Standard Worldwide Annual Multi-Trip policy (including USA), which is dropping by 27%, saving travellers £70.77 on a policy now priced at £189.
Jonathan Frankham, General Manager UK and Europe said:
“Travel insurance is a money-smart move that provides financial protection and peace of mind for when you fall ill, have an accident, lose baggage or belongings while on a trip, costs can spiral quickly, even in Europe, where travellers frequently can get access to state-provided care. For example treatment for a broken leg in Spain can cost £15,000, while a hospital stay in the USA and medical repatriation could cost as much as £100,000.
“For frequent travellers, Annual Multi-Trip insurance policies with World Nomads provides cover for an unlimited number of trips over a 12-month period, which provides you with one less thing to think about each time and can be more cost effective compared to a Single Trip policy. It’s a no-brainer.”
According to World Nomads’ own research, just under a quarter of British travellers choose an Annual Multi-Trip policy for convenience and cost savings.
FREQUENTLY ASKED QUESTIONS ON ANNUAL MULTI-TRIP POLICIES
Whether you’re a frequent flyer or someone planning one big far-flung trip, the choice between an Annual Multi-Trip and a Single Trip policy can have a significant impact on your cover, as well as your bottom line. World Nomads has put together some frequently asked questions on which would work best for you.
Frequently Asked Questions on Annual Multi-Trip Insurance?
What is it?
Annual Multi-Trip travel insurance is designed for British globetrotters who embark on multiple journeys within a year. With this type of policy, you’re covered for an unlimited number of trips within a specified region during the policy period. It's a cost-effective and convenient option for those who travel frequently.
What are the benefits and considerations of Annual Multi-Trip?
- Cost-effective and Convenient: Instead of purchasing a separate policy for each trip, you pay once for year-round coverage and it saves arranging travel insurance on every trip.
- Kids go free: World Nomads Annual Multi-Trip policies offer free coverage for children under the age of 18 travelling with an adult, making year-round family travel more affordable.
- Domestic travel: The Annual Multi-Trip policy offers cover for both international and domestic travel (subject to some restrictions – check your policy wording for more information).
- Is there trip duration limits? Each trip is capped at a certain number of days (31 days with the Standard plan, 45 days with the Explorer plan).
- How Much Does an Annual Multi-Trip policy cost? While cost-effective in the long run, the upfront payment may be higher than a Single Trip policy.
- Does a policy auto renew? Annual Multi-Trip policies do not auto-renew. Consumers need to purchase a new policy each year, but World Nomads will write to consumers 28 days before expiry so you can get another quote. On the other hand, Single Trip policies expire after each journey, requiring a new purchase for any subsequent trips.
- What is Single Trip travel insurance?
As the name suggests, Single Trip insurance provides coverage for a single journey. It's ideal for travellers embarking on one-off vacations or business trips outside their home country.
What are the benefits and considerations of Single Trip?
- Flexibility: Tailored coverage for a specific trip, allowing you to customize your policy based on the destination, duration and planned activities.
- Less restrictions on trip duration: Enjoy the freedom to choose the length of your trip without worrying about exceeding coverage limits. Single Trip policies have a 365-day limit, but if you wish to continue your trip you can simply purchase a new policy.
- Simplicity: (depending on your travel plans of course). You only need to focus on the details of one trip at a time.
- Less commitment: If you’re an occasional traveller rather than a frequent flyer a Single Trip policy offers cover when you need it, without the commitment or expense of an Annual Multi-Trip policy.
- Do Single Trip policies have higher costs? While cheaper for a Single Trip, multiple Single Trip policies can add up to more than an Annual Multi-Trip policy over time.
- Need for repeated purchases: You'll need to buy a new policy for each trip.
- No cover for domestic travel: Single Trip policies do not have cover when travelling within the UK.
Other factors to consider when choosing a travel insurance policy:
Cover type: Annual Multi-Trip and Single Trip policies share some similarities, including benefits like trip cancellation, emergency medical expenses, and personal baggage cover. However, the limits and exclusions may vary between Standard and Explorer plans, so it’s essential to review the policy details carefully.
Trip duration: With Annual Multi-Trip insurance, each trip is typically limited to a specific number of days. Ensure the maximum trip duration aligns with your travel plans to avoid gaps in coverage. Single Trip policies offer more flexibility in trip duration.
Travel companions: With an Annual Multi-Trip policy your children (aged under 18), if named on the policy, will also be covered (for free) when travelling with another adult for the full duration (365 days). A Single Trip policy will also include free cover for your children. However, cover ends when the Single Trip policy expires.
Pre-existing medical conditions: Pre-existing medical conditions are not covered under either Annual Multi-Trip or Single Trip insurance policies. A pre-existing medical condition is defined as any medical or dental condition, or related complication that has required or is awaiting medical advice, diagnosis, treatment, prescribed medication, consultations, check-ups, surgery, tests or investigations in the 180 days before you buy or extend your policy or book your trip (whichever you do last).
This is a summary only. It does not include all terms, conditions, limitations and exclusions of the plans described. Please refer to the actual plans for complete details of cover and exclusions.
Get a quote today for either an Annual Multi-Trip or Single Trip insurance policy.
For more information about World Nomads’ travel insurance, please visit www.worldnomads.com.
*The study of 2,000 UK adults was carried out between 16 and 19 August by Opinium Research on behalf of travel insurance provider World Nomads to look at the immediate motivators and barriers to international travel and insurance considerations for 2024.
ABOUT WORLD NOMADS
Since 2002, World Nomads has been protecting, connecting and inspiring adventurous and independent travelers by offering specialized travel insurance and safety advice.
Our travel insurance products cover travelers from more than 100 countries. World Nomads focuses on what we believe is important to travelers: emergency medical and evacuation costs, baggage cover, trip cancellation, trip delay and trip interruption costs. We offer cover for more than 150 adventure sports and activities, plus tech and gear. We believe travelers have the responsibility to give back, and through our Footprints program, customers can add a small donation to the price of their policy to help fund a community development project with one of World Nomads’ global nonprofit and charity partners.
We are part of a suite of global specialist travel insurers owned by nib Group, Australia’s third-largest provider of travel insurance and a leading global distributor of travel insurance through nib Travel. nib Group also provides health and medical insurance to more than 1.6 million Australian and New Zealand residents and more than 200,000 international students and workers in Australia.
Media Contacts:
Graham Lynch, World Nomads, UK & Europe
+353 876 831 784
Frances Tuke, LOTUS
worldnomads@wearelotus.co.uk
+44 7939401401