Annual travel insurance becoming more popular

According to the Halifax, rather than opting for single-trip insurance, which was always been the most common type of travel insurance, people are now taking more trips abroad each year and consequently are benefiting from annual policies.

A spokesperson for the Halifax pointed out that due to cheaper travel deals, more people are taking more trips overseas. It therefore makes financial sense to have annual cover.

Furthermore, annual travel insurance can include personal liability, medical expenses, legal fees, cancellation cover and compensation for lost possessions.

Halifax stressed the importance of travel insurance and that it should play a vital part of holiday planning. Unforeseen events can lead to extremely high costs in addition to physical and emotional distress. Travellers should always ensure they have adequate cover.

Finally, many banks provide annual travel insurance cover with various current accounts. For example, Alliance & Leicester Premier Current Account customers receive free European annual multi-trip travel insurance, worth up to £60.

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