Travel insurance--annual or single trip

You’ve decided on a special trip and made the necessary payments, often months in advance. But life can be uncertain, and the best-laid plans can go awry.  The best way to protect your financial investment is with travel insurance.

Canada's Via Rail traveling from Edmonton to Jasper

Selecting the right level of travel insurance should be a major consideration for any traveler. It's not a legal requirement, but given its importance, most reputable tour operators and airlines now prompt passengers during the booking stage to arrange holiday coverage before they go. And most tour operators or travel companies now sell third party insurance, or offer their own tailored policies, which helps ensure their customers stay protected.

Most travel insurance policies fall into two main groups: multi trip and single trip travel insurance. Here's a little more about each type of coverage:

·         Single Trip Travel Insurance: This is ideal for customers who rarely travel abroad and who just want cover for one trip - be it a weekend away or a three-month voyage. You can tailor the policy to your holiday and your requirements, and once you get home, the policy expires. It's usually the most cost-efficient way for infrequent travellers to organise insurance.

·         Multi Trip Travel Insurance: Also known as annual insurance, given its typical 12-month arrangement, multi-trip travel insurance is ideal for frequent travellers as it means you're covered all year round (or until your policy's expiry date).

Rocky Mountaineer traveling from Banff to Vancouver, Canada

As with any travel insurance, single or multi trip, the policy can usually be tailored to suit your requirements. Be wary of any off-the-shelf policies that seem inflexible, as they probably won't offer the right level of coverage nor will they offer the best value for your money. Remember, you are organizing travel insurance for financial protection , so it makes sense to dig a little deeper until you find a policy that offers the right level of protection.

You can find out more about multi or single trip travel insurance here - http://www.thomascook.com/holiday-extras/travel-insurance/single-trip-insurance/

Sailing in Adriatic Sea near Croatia

Whether traveling with a tour operator or on your own, don't forget to arrange the right level of coverage before you go—usually as soon as final payment has been made--and don't be tempted to choose the cheapest policy. Knowing you’re covered in case of unusual circumstances will give you peace of mind and allow you to enjoy your holiday.

This sponsored post was written in collaboration with Catherine Lavinia.

Photos by Beverly Burmeier