Many people travel to foreign countries several times a year; either for leisure, education, business, or to visit friends and relatives. These travelers will most likely benefit from an annual trip travel insurance policy, because it provides financial protection for them every time they travel to a foreign land, and it costs much less than the total price of several single trip travel insurance policies. Annual travel policies are valid for one year, and those who wish to extend their travel insurance have to contact their insurance companies to request for renewal.
In the past, renewing travel insurance policies has be a hassle, because policyholders were required to pay a visit to their insurance providers, or send their applications by mail. Nevertheless, with the advent of the Internet, many insurance companies began to offer online travel insurance renewal service for their customers. Online policy renewal provides great convenience for policyholders, because the entire process of application only takes a few minutes.
When the expiry date of a multi-trip travel insurance policy is approaching or has passed, an insurance company will send a renewal notice to the policyholder and provide instructions on how to apply for renewal. Not every travel insurance company allows their customers to renew their travel insurance policies online. Some of them only accept application for renewal over the phone or by mail. Those that accept travel insurance policy renewal online have a renewal form in their websites, and policyholders are required to type in certain personal details, policy information, and credit card information. Certain changes can also be made to the policies during renewal, including addition of coverage and upgrade of coverage level. After the form is completed and submitted, the companies take only a few seconds to confirm that they have received payment, and they will proceed to send the renewal documents by first class mail. For companies that offer policies that are underwritten by other insurers, the process of approval may be longer.
Different insurance providers have different rules and regulations regarding the renewal of travel policies. It is advisable that policyholders read the terms and conditions in the renewal application page first before they submit their applications. Usually, insurance companies have a deadline for renewal, and they will only approve online renewal of travel policies after full payment is made. After receiving their renewal documents, policyholders should read the small prints on the documents thoroughly to ensure that all the details are correct.