How often do you go on holiday? If you travel more than once a year, then you should think about taking an annual insurance policy.

This should reduce the cost per trip. But it may not cover going away for an entire year. There are usually a maximum number of days you can be away, typically 30 to 60 days.

Backpackers who want to experience the thrills of walking around looking like a turtle for months at a time while finding somewhere exotic to use mum and dad’s credit card may need a specific insurance policy.

And an annual policy may not be right for a couple who holiday in a package resort in Spain for two weeks of the year.

But an annual policy should always be considered. Read the small print to see if it covers you for all your trips, including those weekend breaks in country hotels.

You do not have to be overseas to use travel insurance, just be away from home for a period to time. And buying year-long policies will also mean you never travel without cover.

But do not rule out single-trip cover, which can be very good value if you shop around.

What you do and where you go affects the level of risk and thus how expensive your policy is. Take a holiday in the UK and pay less than holidaying in the Gambia. As with all insurance, only pay for what you need.

And remember that you can always extend your cover. If you only go to Europe on holiday – which is cheaper than holidaying in the States, where the medical bills can be high – only buy cover for that. If you travel further, you can buy extra cover.

And, as with all insurance, the web is a rich source of information and an invaluable resource when it comes to checking out price comparison.

Sites like www.travel-insurance-web.com, www.insurefor.com and www.moneysupermarket.com are good starting points.

These sites also feature details of specialist policies – backpacking, skiing, golfing. And being old.

As with all insurance, being old can be problematic. Try not to get old. But if you have not tried hard enough (we recommend prayer and/or selling your soul), you should consider looking at specialist agencies. Saga (www.saga.co.uk) and Age Concern (www.ageconcern.co.uk).

And try not to be ill. But if you are travelling with a pre-existing medical condition, and find insurance prohibitively high, look at sites like www.cancerhelp.org.uk and other organisation that deal with your condition.

You can try to get insurance that excludes any pre-existing illnesses. Although, ask yourself if travelling at all is a good idea.

It'll Never Happen to Me: When To Get Travel Insurance And How To Get It For Less

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