Just as we need life, home and property insurance, we need travel insurance against travel risks. Insurance companies have plans tailored to each type of travel so you don’t end up paying more if you’re a frequent traveler. Standard plans offer risk coverage up to a maximum of 90 days while a frequent traveler may not be sure of his travel plans which can be spur-of-the-moment or premeditated.

Annual travel insurance is designed for those who travel frequently during a year. Annual travel insurance may seem a bit more expensive than a standard plan but it makes up for with an extended term where it stays active for a full year with a one-time premium.

Before purchasing an annual travel insurance plan, you need to read the fine print and understand the terms and conditions very carefully to avoid heart burns later in case you make a claim with the company. Most travel policies do not cover risky activities such as extreme sports or harming your pets.

Another condition worth checking is the redundant waiver clause. This is similar to the deductible for most other types of insurance where you pledge to pay a portion of the claim out of your own pocket to avoid higher premiums.

Purchasing travel insurance online results in customers savings of up to 40%. Because companies save overhead costs by selling policies online, they offer lower premiums and offer more risk coverage than you would if you applied the traditional way through an application. These extended coverage offerings may include home and property insurance. Purchasing insurance cover online actually translates into paying lower premiums to get more coverage.

Companies have annual travel insurance plans that are tailored to the needs of the individual, group or organization. For example, families who travel for golf tournaments often may opt for a plan known as an annual golf travel plan which will most of the time cover the risk of losing golf items as well as injury to a third party or any other liability incurred from playing golf.

For those traveling in groups that require insurance coverage of ten or more people, there are annual travel insurance plans specifically designed for families, groups, and organizations such as schools that organize travel for sporting events, etc. Family packages are limited to direct members, and for groups of non-family members, you have to look for the policies that are for extended groups. Extended group insurance plans are less expensive and at the same time cover every member of the group.

In short, if you are a frequent traveler, you should discuss annual travel policies and group travel policies if you are traveling in groups of more than ten. All policies have limitations and vary from company to company. It will be helpful for you to scrutinize the terms and conditions and see the finer details with a magnifying glass. If you are fond of sports and/or indulge in risky activities, then you can consider sports travel policies or golf travel insurance, which will best suit your requirements.