Travel insurance is essential to ensure you have a perfect trip free of hassles and financial burdens. We conveniently explain the types of travel insurance you get, what is included, and why you shouldn't step a foot out of your door before you have it. Why Do I Need Travel Insurance? The basic travel insurance offered by your credit card or the basic insurance sometimes included with your flight is not enough especially for medical emergencies. Paying for medical expenses or replacing your luggage in a foreign country can become exorbitant so be sure to have the right insurance before you pack your bags. What Are The Types of Travel Insurance You Get? There are two main options but they revolve around your frequency of travelling. 1. Single-Trip Insurance: This type of insurance only covers one overseas trip or one holiday. A cheaper option if you rarely travel compared to an annual travel insurance policy that covers multiple trips. Before you choose between the two, you need to add up the amount of annual trips you take at the cost of single trip insurance and compare it to the annual travel insurance premium. If you have two trips involving risky destinations or risky activities, an annual or multi-trip package may not cover both or would be very expensive so a single-trip package may suit your needs more. These packages generally cover: • Illness and injury • Loss of baggage • Cancellation of your holiday • Theft • Emergency repatriation • Public liability • Personal accidents 2. Multi-Trip Insurance: The cost of multi-trip travel insurance varies largely on factors including: • Worldwide or European cover • Family or individual cover • Your Age • Excess • Pre-existing medical conditions • Level of cover • Annual travel insurance checklist Helpful Tip: Look at family travel insurance on family vacations. Although not a type of insurance like the previous two, choosing this option can save you money by insuring the whole family instead of creating individual policies. Helpful Tip: Make sure you check the fine print of your policy as you may be visiting countries that your policy doesn’t cover. ©Diane Moalem for Compare Guru