Annual Travel insurance vs Single Trip insurance

Annual Travel insurance vs Single Trip insurance

Annual Travel insurance vs Single Trip insurance – which is the more popular choice?

With a public holiday this week and ideas for a get away on the cards, you could be wondering like most of us, whether an annual travel insurance or a single trip insurance would be a better choice.

For answers, I popped over to the GoBear Sightings team.

The outtake was clear: The year hasn't ended, but that shouldn't stop us from planning our vacations next year.

If you haven't already noticed, there are some potential long weekends in 2016 that you could take advantage of.

And you’ve marked out at least 4 trips, it might be worthwhile to consider an annual plan.

Single trip insurance, on the other hand, is cheaper for those who travel less.

GoBear Singapore has seen 81% of searches bought a single trip insurance over the last month.

In other words, Singaporeans seem to prefer single trip travel insurance as compared to an annual plan. This is a surprising statistic, given how travelling is becoming more popular. Why is this so?

GoBear’s statistics also reveal that the average age of users over the past month were between 25 – 34 years old. It suggests that convenience is key with this group, preferring single trip insurance as compared to annual travel insurance. It also saves them the trouble of customization and planning much earlier ahead.

That said, if you’re leaning to an annual travel plan like some of us who needs to clear leave before the year ends, but need more reasons before you select “Annual” vs “Single”, you might like to check out The Straits Times who has come up with more ideas for making those 2016 holiday plans.

"Annual travel is more cost effective if you’re a frequent traveller", GoBear Sightings