Top Annual Travel Insurance Plans
Several annual travel insurance plans stand out in 2025 for their well-rounded benefits and value. These plans offer solid year-round medical coverage built for travel in and outside of the United States, depending on your needs.
What is Annual Travel Insurance?
Annual travel insurance, also known as multi-trip insurance, provides coverage for multiple trips within a 12-month period. This type of coverage is designed for frequent travelers who want continuous protection without purchasing a new policy for each journey.
Annual Insurance Topics
Benefits of purchasing an annual travel insurance policy include:
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Year Long Travel Protection: Provides financial protection for a 12-month period, with coverage typically beginning on the day after your purchase date.
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Potential Savings: Can be cheaper than purchasing multiple single-trip policies if you take at least three trips per year.
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Convenience: Offers a simple and straightforward approach to travel insurance, opposed to purchasing a new policy each time you travel.
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Peace of Mind: Provides protection against common trip disruptions like medical emergencies, evacuations, trip delays, and baggage loss.
Annual Travel Insurance vs. Single Trip Travel Insurance
Both annual coverage and single-trip travel insurance offer financial protection from unexpected disruptions you may encounter while away from home. However, these two types of trip insurance plans differ in multiple ways.
Generally, annual multi-trip travel insurance coverage offers more long-term coverage, but typically includes fewer travel insurance benefits. Single-trip plans, however, offer more robust coverage for a more limited period of time.
Below is a more in-depth look at how these policies differ:
Here is a look at how these plans differ:
| Annual Travel Insurance | Single Trip Travel Insurance | |
|---|---|---|
| Convenience | Buy and manage one plan per year to cover all your trips. | Buy and manage a different plan each time you take a new trip. |
| Coverage | Mostly medical-only coverage. Few annual plans offer Trip Cancellation and Trip Interruption coverage. | Most single-trip plans are comprehensive, and include Trip Cancellation and Trip Interruption coverage. |
| Cost | Higher up-front cost, but cost-effective if you take 3+ trips per year. | Lower premiums, and more cost-effective if you don’t travel often. |
| Coverage Duration | Covers multiple trips per year, but typically restricted by a 30-90 day trip length limit. | Covers you from the moment you leave for a trip to the moment you return home. |
| Best For | Frequent travelers, business travelers, digital nomads, students abroad, & retirees. | Occasional travelers and those who prefer customized, comprehensive coverage for each trip. |
Pros & Cons of Annual Travel Insurance Plans
As with everything, there are pros and cons to choosing annual travel insurance over single-trip travel insurance. Here is a look at the advantages and disadvantages of annual multi-trip travel insurance policies.
Pros of Annual Travel Insurance
- Unlimited Trips: Annual travel insurance plans do not restrict the number of trips you can take during the 12-month coverage period.
- Less Hassle: Some travelers prefer the simplicity of managing one plan per year rather than a new policy for each individual trip.
- More Cost-Effective: Squaremouth data show that annual coverage is cheaper than buying several travel medical insurance policies.
Cons of Annual Travel Insurance
- Limited Cancellation Coverage: Very few annual plans include Trip Cancellation and Trip Interruption benefits.
- Strict Trip Length Guidelines: Annual multi-trip travel insurance plans have maximum trip length requirements and will not cover extended trips.
- High Premiums: Annual insurance is one of the most expensive forms of travel protection. Learn more about annual travel insurance costs.
What to Look for in an Annual Travel Insurance Policy
Annual travel insurance is a great investment if you plan to travel often within the next year, especially if you know what to look for.
Here are the most important factors to keep in mind:
Some annual travel insurance policies are built with certain geographic locations in mind and may exclude coverage within the US or abroad. Whether you’re planning domestic or international travel, double check the policy covers every region you plan to visit.
Annual multi-trip plans are intended for multiple trips throughout a year as opposed to one year-long trip. Most policies place trip length restrictions, usually 30-90 days, that limit how long you will be covered.
Before purchasing annual coverage, consider your travel habits and concerns. Annual travel insurance provides great value if you’re looking for basic travel health insurance while traveling to multiple destinations throughout the course of a year.
If you’re planning to travel outside of your home country, we recommend an annual plan that includes at least $50,000 in Emergency Medical coverage and $100,000 in Emergency Medical Evacuation coverage.
Annual travel insurance premiums can vary by provider. We recommend getting quotes from at least 2-3 travel insurance providers to make sure you’re getting the best coverage at the lowest possible price.
How Much Does Annual Travel Insurance Cost?
The cost of annual travel insurance is dependent on a wide range of factors, including your age, plan type, and the depth of coverage offered by your policy.
While industry-wide reports estimate the average cost of annual travel insurance between $100 - $500, proprietary Squaremouth data based on all annual policy sales for the last 12 months reveals annual travel insurance premiums most often range from $130 to $1,690
Squaremouth data indicates that travelers spend, on average, $318 on annual travel insurance. This convenient and cost-effective approach to trip protection allows travelers to get year-round coverage for less than $1 per day.
Here is a look at how different annual travel insurance plan types may impact the cost:
| Policy Type | Avg. Annual Insurance Price |
|---|---|
| Travel Medical | $289 |
| Comprehensive (Medical + Cancellation) | $513 |
Methodology: This analysis is based on anonymized purchase data from Squaremouth’s proprietary travel insurance quote and booking engine from Jul 13, 2024 - Jul 12, 2025. Premium amounts reflect finalized purchase prices, segmented by policy type. All sales included in this data set are for annual travel insurance policies.
What Does Annual Travel Insurance Cover?
Annual travel insurance is mainly designed to cover medical emergencies over a 12-month period. That said, each yearly travel insurance policy comes with unique inclusions and exclusions.
Annual medical travel insurance coverage can reimburse you for unexpected medical expenses in the event you get ill or injured while traveling. Exclusions and medical deductibles may apply.
Annual medical travel insurance coverage can provide emergency transportation to the nearest adequate hospital in the event of a medical emergency during a covered trip.
If your medical condition requires you to be sent back to the United States for treatment, annual travel insurance coverage can provide an emergency medical escort and transportation back to the USA for further medical care. This also applies to repatriating the remains of deceased travelers.
All travel insurance companies on Squaremouth include 24 24-hour Emergency Assistance services to support you throughout your trip.
If you experience significant trip delays while traveling, annual travel insurance can reimburse you for unexpected food, accommodation, and transportation expenses.
If your baggage and personal items are delayed en route to your destination, travel insurance can reimburse you for toiletries, clothes, and other necessities.
Who is Annual Travel Insurance Right For?
Annual travel insurance is ideal for frequent travelers such as digital nomads, business travelers, study-abroad students, retirees, and families.
Recommended for:
- Frequent Travelers: If you’re taking more than three business or leisure trips a year, an annual plan can save you time and money.
- Spontaneous Travelers: If you often take last-minute trips, having a policy already in place ensures you’re always protected.
- Digital Nomads: For those constantly on the move, annual policies can provide consistent medical coverage.
- Travelers With Existing Cancellation Coverage: If your credit card provides trip cancellation protection, an annual policy with emergency medical and evacuation benefits can fill in the gaps.
Not Recommended for:
- Occasional Travelers: If you take three or fewer trips per year, purchasing an annual plan may not be cost-effective.
- Long-Term Travelers: Annual plans typically do not cover trips that exceed 90 days.
- Travelers Who Want Trip Cost Protection: Very few annual policies include cancellation benefits that cover your prepaid travel expenses.
Annual travel insurance not right for you?
Browse our other policy types:
Is Annual Travel Insurance Worth It?
Yes, annual travel insurance may be worth it if you plan to take more than three trips per year and you don’t mind compromising on the amount of coverage you get.
Annual multi-trip travel insurance is less comprehensive than single-trip insurance, but can end up being much more affordable if you are a frequent traveler. Overall, these plans are a good idea for frequent travelers looking for a cost-effective alternative to buying a single-trip policy each time they travel.
If you are an occasional traveler or someone looking for comprehensive travel insurance coverage for things like cancellations, trip interruptions, trip delays, baggage loss, and more, then annual travel insurance may not be right for you. Annual plans are primarily built to provide basic medical protection for multiple trips across 12 months.
FAQs: Annual Multi-Trip Travel Insurance
Yes, some annual travel insurance plans do include Trip Cancellation coverage, which can reimburse travelers who are forced to cancel their trips due to unforeseen events.
However, most annual plans are geared toward offering quality medical coverage over cancellation benefits. Therefore, cancellation coverage is usually limited.
Yes, annual travel insurance can cover cruises you take throughout the year your plan is active. However, unless you take multiple cruises each year, you may want to consider specialized cruise insurance instead.
Cruise-specific travel insurance plans often provide more comprehensive coverage, including primary medical benefits, missed connection coverage, and protections tailored to the unique risks of cruising.
Not all travel insurance plans include coverage for pre-existing conditions, and that applies to annual travel insurance, too. The coverage is found in select plans and is only available to travelers who meet the plan’s specific eligibility requirements. See our list of the best travel insurance for pre-existing conditions for more information.
Yes, many annual travel insurance policies allow you to add up to 10 people to one policy, and all travelers are not required to travel together on every trip.
90 days is typically the longest trip that can be covered by an annual plan. However, this can vary by policy and provider. Refer to your policy’s Certificate of Insurance to find the maximum trip length covered by your plan.
Some providers have a maximum number of trips that can be covered throughout the year, so you will be asked to give an estimated number of trips you plan to take. However, you do not need to enter your travel destinations when buying an annual plan. Most multi-trip plans provide annual worldwide travel insurance coverage, meaning they can cover you across multiple destinations on each trip.
To renew your policy, contact your travel insurance company before your existing coverage expires. Typically, plans that offer renewals can be extended for 12-24 months.