The cost of a travel insurance policy for one trip varies based on multiple factors, including your trip cost, the age of the travelers, the length of your travel, and the coverage amounts included within the policy. However, for travelers looking for a full year of coverage, depending on the specific coverage they need, an annual policy may be their best option.
Annual travel insurance policies cover frequent travelers taking multiple trips over the course of 12 months. These policies are designed to be a cost-effective way for travelers to purchase medical coverage and other travel insurance benefits for multiple trips.
While most policies include many of the same benefits, the biggest differences between annual policies are the coverage amounts and the limit for how long your longest trip can be. Most cover trips up to 30 days, while some more lenient policies will allow up to a 90-day trip length.
On average, an annual travel insurance policy costs between $250 and $350.
*based on Squaremouth sales data since 2018.
In comparison, the average cost of a single trip policy without Trip Cancellation is typically around $80. These policies are the most comparable to annual policies.
The benefits of annual travel insurance
- One policy for one year of coverage
- An annual travel insurance policy is an efficient way to buy one policy with medical coverage for an entire year.
- Includes most travel insurance benefits
- Most annual policies include the following benefits: Emergency Medical, Medical Evacuation, Travel Delay, Baggage Delay, and Baggage & Personal Items Loss, among others.
- Please note: Most annual policies do not include Trip Cancellation.
- Cost-effective coverage
- Trip cost is one of the primary factors that increases the price of a travel insurance policy. Because most annual policies do not include cancellation coverage, they can be a more cost-effective way to cover multiple trips if medical benefits are your primary concern.
Please click here to learn more about annual travel insurance or to search for available policies.