Is an Annual Travel Insurance Policy Worth It?
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 who don’t need high 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, lasting longer than 90 days
Travelers with existing travel insurance coverage through a credit card
Annual policies are designed to provide long-term travel insurance benefits for travelers taking two or more 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.
To get started, travelers should enter their intended coverage start date, their maximum trip length, their state of residence, and a few other key details. Keep in mind, most annual policies cover trips up to 30 days, while some more lenient policies will allow up to a 90-day trip length.
In general, these plans are ideal for frequent travelers looking for medical coverage while abroad. Some policies will also include coverage for trip delays and cancellations, as well as add additional policy upgrades such as pre-existing condition coverage.
Travelers who need to insure a high trip cost, have specific cancellation needs, or need medical benefits for an extended trip should not purchase an annual travel insurance policy. Travelers who do not meet the recommendations for an annual policy should consider a single trip policy. Single trip travel insurance policies can cover longer trips and provide travelers with comprehensive coverage that includes cancellation, medical, delay, and other important benefits.
Likewise, annual policies are not recommended for travelers taking a cruise, participating in adventure and hazardous sports, or traveling with a large group, as these situations are better covered by other travel insurance policy types.
How Does Annual Travel Insurance Work?