Is Annual Travel Insurance Right For You?
An annual policy is recommended for:
Leisure or business travelers taking multiple short trips over the course of one year
Frequent international travelers who need medical coverage while overseas
Travelers not concerned with Trip Cancellation or Trip Interruption coverage
An annual policy is not recommended for:
Travelers who will only be traveling once or twice over the course of a year
Travelers taking extended trips, where the trip length exceeds 90 days
Travelers with existing travel medical insurance through another source, such as a credit card
Annual policies are designed to provide long-term travel insurance benefits and peace of mind to travelers taking multiple trips throughout a 12-month time period. Rather than purchasing individual policies for each trip, travelers can purchase an annual plan and be covered for all trips taken within a year.
This insurance option is ideal for frequent travelers looking for medical coverage while abroad. Most policies will also include coverage for delays, lost luggage, and other common travel disruptions. Some plans can be modified with add-ons, such as Pre-Existing Condition coverage, for additional travel protection while away from home.
Annual plans are reimbursement based. If one of your trips is disrupted by an unforeseen event that's covered by your plan, you may file a claim with your travel insurance provider. If your claim is successful, your provider will reimburse you some or all of the financial loss you suffered.
How Does Multi-Trip Travel Insurance Work?
Annual policies are recommended for travelers that want basic trip protection for multiple trips across a 12-month period. Many frequent fliers opt for this coverage because it is a cost-effective alternative to purchasing a single trip policy each time they travel. If you’re traveling more than twice over the next year, this type of coverage may be worth the investment.
Annual policies are generally not recommended for travelers participating in adventure sports or traveling with a large group, as these situations are better covered by other travel insurance policy types.
The cost of an annual plan is determined by multiple factors, including your age, the length of your trips, and the amount of coverage included in the policy. According to Squaremouth data, the average annual travel insurance policy is roughly $350.
When looking for multi-trip protection, we recommend getting quotes from 3-4 travel insurance providers. Comparing plans gives you the best chance of getting a policy that fits your budget and travel needs.
There are many reputable travel insurance providers on the market today that offer multi-trip insurance plans. The best travel insurance plan will depend on your personal budget, your travel concerns, and the amount of coverage you need for your trips.
On Squaremouth, you can use filters to narrow down your search, and sort results based on what's most important to you. If you need additional assistance, our award-winning customer service team is just a phone call away.
No, very few annual plans include Trip Cancellation or Trip Interruption coverage. If you want to protect your trip costs with cancellation coverage, we recommend considering single trip travel insurance policies that include those benefits. Alternatively, many travel credit cards now offer cancellation benefits as a perk to cardholders.
In general, most annual travel insurance plans will cover cruises. Annual coverage is a great way to protect your cruise, as the plans typically include protection against common cruise disruptions, such as unforeseen medical emergencies, emergency medical evacuations, delays, missed connections, and baggage loss.