More than half of holidaymakers now go abroad more than once a year. Yet just 45% of frequent travellers buy multi-trip annual travel cover. 3.3 million people who take two or more holidays a year buy single trip travel insurance for every trip they make. As the traditional holiday season draws to a close, swiftcover.com, the UK's first and only 100% online insurer, releases new research revealing more than one in two (55 per cent) British holidaymakers* now holiday abroad at least twice a year** but are still not switched on to the benefits of annual travel insurance.
With the increasing popularity and affordability of year-round city breaks, shopping trips abroad and winter sun holidays, one in seven (13 per cent) of people have taken a staggering four or more overseas trips in the past 12 months.
But despite the steady increase in the number of foreign holidays taken each year, few are taking advantage of multi-trip travel insurance policies to help make their frequent trips abroad cheaper and easier to arrange. The research commissioned by swiftcover.com through YouGov reveals that less than half of those taking more than one holiday a year (45 per cent) buy an annual travel policy ? with many paying over the odds by buying single trip travel insurance for each trip they make.
Even more worrying is that many frequent travellers are putting themselves at risks by having no insurance at all. Whilst 84 per cent of frequent travellers will buy travel insurance cover for their main trip, almost one in five (19 per cent) of those don't bother for any other trips they take. A staggering 16 per cent of all frequent travellers take out no travel insurance cover at all.
It appears travellers are also paying over the odds for the cover they buy. The research reveals that one in seven (14 per cent) holidaymakers fork out over ?100 a year on travel insurance each year and one in twenty have spent more than ?150 on travel insurance in the past twelve months ? more than the cost of some short break holidays.
With nearly half of all travel insurance policies bought through non-FSA regulated providers***, holidaymakers are paying sky-high prices for single trip cover with their travel agent rather than taking advantage of the cheaper, annual multi-trip deals around.
swiftcover.com calculates that a family of four who go on two holidays abroad each year could save up to ?153 with a multi-trip travel insurance rather than two separate single trip policies, in addition to saving time and effort. This saving could be used instead to cover spending money for the holiday or even towards the cost of the next trip.
Craig Staniland, Underwriting Director of swiftcover.com comments: ?Cheaper flights, cut-price holidays and the growing range of short breaks available means that we're taking the opportunity to make more and more trips abroad each year. Yet, when it comes to insurance, many people fail to take advantage of cheaper travel insurance with annual cover to suit their changing needs.
?Buying an annual multi-trip travel insurance policy can save you both money and time, as it cuts out the need to arrange cover for each individual trip you make throughout the year. For many, buying single trip travel insurance is simply a waste of money. One multi-trip policy from an online provider could cover you for all your trips for less than the price of just one single trip with a tour operator.?
A home insurance can help you out if you decide to get a lone using your house as collateral. A mortgage is a form of a loan where you borrow money from a bank with your house sort of like a safety net. If you are not able to pay them back, they can seize your house and have full control of it. A home insurance policy on a mortgaged home assures the bank that it can still collect on the debt in the event that the mortgaged house is destroyed or any untoward events may happen to decrease its market value.
Home insurance policies are usually term policies, meaning you can only be covered for a specific length of time. Due to this fact, you may have to renew your insurance policy from time to time, or until your current one expires. Also, have your home and its contents re-appraised so that they would still be covered adequately. Your insurer can do the appraisal, but you do have to pay them for this service. Depending on the state of your house and its contents, the premium on your policy or the amount that you have to pay may increase or decrease.
You have bought your own house, got the furniture and items you want inside it, and now, you want to protect the house that you have worked so hard for. A home insurance policy usually will depend on how much it would take to replace the entire house and the things inside it which you want to be insured. The policy itself is very specific, and it would normally specify the actual circumstances and events upon which the insurance can be claimed. Special circumstances such as floods and earthquakes could be insured, if you are willing to shoulder further expenses for insurance against these events.
What exactly is a home insurance policy? In simple terms, this kind of policy protects your house and the things and people inside it. It covers a variety of incidents which may happen to the house itself, such as destruction by a fire or vandalism; it may also cover any damage to its contents, such as loss due to theft; it may also be applicable to accidents which may occur inside the house. It would be wise to avail of one especially if your house is on the upper scale, and if you have any significant and expensive stuff stashed inside.
Home insurance policies would usually cover any damage in the event of accidents, burglaries and the like, and they even replace lost items inside your home. But to those planning on duping insurance companies in giving them money they don't deserve, beware. These companies have people who go over everything in your statement and check out if you really are telling the truth. Those who try to cheat regarding their insurance claims and are found to be guilty could even be sent to jail. So be smart when it comes to these things, be honest and don't even try any funny business.
You don't actually have to do the dirty work of dealing with the fine print in insurance policies yourself; this can be done for you by insurance agents who would be more than willing to help out. Find one you can trust, for it is your money that you would be entrusting to them, not just that, but also your future. When you have found an agent you are comfortable with, make sure that he or she will be able to explain well the terms of your policy, and also give you a set of different options to choose from.
Both Swiftcover.com & Jon Caldwell are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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