Planning several trips over the next year? Dreading the fact that you’re going to have to find travel insurance for each trip? Well you don’t have to.
With an annual travel insurance plan you can take as many trips as you want over a 12 month period and be covered with the same important benefits as you get with standard single trip plan.
Who Would Benefit With an Annual Travel Insurance Plan?
Any of the Following situations would make an annual plan an economical and convenient way to go.
- If you know you are going to be making more than two or three trips a year
- Business travelers making frequent trips abroad
- Anyone who has to make frequent but last minute trips for business or other reasons
- If you’re a self-employed consultant where client demands keep you on the road
- Sick or elderly parents or friends you expect to visit several times over the year
Finding travel insurance in any of these situations can be terribly inconvenient and time consuming. The annual plan can take the headache out of arranging frequent trips and give you the peace of mind in knowing you have the protection you need every time you travel.
What is Covered under an Annual Travel Insurance Policy
You can get almost exactly the same kinds of coverage under an annual travel plan as you can with a standard single trip or package plan. You’ll want to check the limits on the various plans you are thinking about. The limits are usually for all trips taken during the year not the limits per trip. Although you could hit the maximum coverage on one trip if you had a large claim.
All the medical insurance coverages you would find in a single trip plan you would normally have in the annual insurance plan. The same restrictions for pre-existing medical conditions would apply, so if this applies to you make sure you disclose the condition and check to see if they are covered or if a waiver can be obtained and under what conditions.
You will also find that the maximum length of any given stay varies by policy. The limits normally run between 30 and 180 days. Make sure you check your plan limits to make sure they will cover your particular travel needs
If your trips can get extended after you leave make sure your plan allows for extending your stay after you have departed. Some plans are more flexible than others. But know what the limits are before your leave.
What are the Differences in an Annual Plan
With standard trip insurance the amount of cancellation or trip interruption insurance is based upon the total pre-paid non-refundable cost for a particular trip. With an annual policy the total travel costs won’t be known when you initially purchase the plan. For this reason the trip cancellation/trip interruption coverage is very limited.
Most of the time coverage is available for a flat limited maximum amount (e.g. $1,000). You’ll want to check on the specifics of the policies you are considering. Sometimes this may be limited to only one trip. Usually though added trip cancellation and interruption coverage can be added for an additional premium.
When evaluating the costs consider the risks. How many trips will you likely be taking and what are the chances you’ll need to make multiple claims under the trip cancellation and interruption coverage during the year?
How Much Does an Annual Trip Plan Cost?
Cost will vary by plan and the coverage limits you need. But you should be able to find a good annual travel plan for $300 – $400 per person – maybe less. This will vary depending on the amount of trip cancellation coverage you need, length of trips, your age etc.
How do you find the Best Annual Travel Plan?
As with most travel insurance finding the best coverages for the best price requires some comparative shopping. As always the cheapest price may not be the best value. If you ever have to file a claim you will be glad you took the time to find the plan that best fits your particular needs even if costs a little more.
Compare Quotes for the Best Value in Travel Insurance
The easiest and best way to make sure you get the most value for your travel insurance dollar is to compare quotes for annual travel plans from the leading travel insurance carriers. It’s easy, quick and can save you money. Try it here.