Annual travel insurance costs: how much? An All-Inclusive Examination
What is Annual Multi-Trip Travel Insurance?
Annual multi-trip travel insurance—or yearly travel insurance—covers several overseas visits within one year. It is designed for frequent travelers and provides a practical substitute for individually bought coverage for every trip. Policies specify a maximum length for each trip, usually 30 to 90 days.
Factors Affecting Annual Travel Insurance Costs
Several key factors influence the price of annual travel insurance:
Age: Premiums usually rise since older visitors are statistically more likely to need medical attention.
Destination: Higher healthcare cost destinations (like the United States) usually translate into more costly insurance. Specific policies provide varying prices depending on regional coverage—e.g., Europe only, globally excluding the United States, and worldwide including the United States.
Coverage Limits: Higher premiums follow from more coverage for medical expenditures and evacuation leads. For instance, a $1 million medical coverage limit will cost more than a $50,000 maximum.
Like other forms of insurance, a larger deductible typically results in a smaller premium.
Trip Duration Limit per Trip: Plans with more extended trip duration limits (e.g., 90 days) often cost more than those with shorter limits (e.g., 30 days).
Optional coverage for adventure sports, pre-existing conditions, or "cancel for any reason" upgrades raises the total cost.
Typical Coverage Inclusions
Although particular benefits depend on the provider and plan, most annual travel insurance packages cover the following:
Emergency Medical Expenses: This covers doctor visits, hospital stays, and prescribed drugs, among other unanticipated medical expenses paid overseas.
Medical Evacuation: Should necessary, this vital coverage covers emergency transportation to the closest suitable medical facility, which can be rather costly, particularly in outlying areas.
Repatriation covers the expenses of returning you to your country for additional medical care if needed. It also usually entails the repatriation of remains in the sad case of death overseas.
If your journey is significantly delayed due to covered reasons, such as bad weather or mechanical problems, you will be reimbursed for lodging, meals, and transportation costs.
We provide coverage for necessary materials should your bags be delayed or destroyed, as well as a refund for lost, stolen, or damaged bags.
Access a hotline for emergency travel adjustments, medical referrals, and other help services 24/7.
Typical Coverage Exclusions
Annual travel insurance plans often exclude the following:
Unless a particular waiver is bought, pre-existing conditions must be considered. Knowing the criteria for a waiver—including medical stability and deadlines—is vital.
Cancelling a trip (unless especially mentioned, which is less frequent in annual plans). Many providers have single-trip plans for individuals prioritizing cancellation coverage, including "cancel for any reason" upgrades.
Adventure sports (unless a specialist adventure sports plan is selected or an add-on is bought).
Travel against government advisories.
Cost Examples and Data
Squaremouth, a travel insurance comparison tool, claims the typical yearly travel insurance policy is about $350. Still, this is only the average.
An American 30-year-old visitor on several quick excursions could discover yearly plans ranging from $125 to $700.
A senior visitor (over 65) could expect to spend extra, between $400 and $800 for comparable coverage. For instance, depending on the plan and provider, a two-week trip to Italy with a $8,000 budget would cost a 65-year-old anywhere from $500 to $900.
Seven Corners charges between $375 and $650 for an annual plan for a 30-year-old, with trip cancelation limits ranging from $2,500 to $10,000.
Annual Multi-Trip vs. Single-Trip Insurance
If you travel frequently a year, annual multi-trip insurance is more affordable than buying several single-trip coverages. On the other hand, single-trip insurance often provides better coverage limits and trip cancellation and "cancel for any reason" choices.
Where to Purchase Annual Travel Insurance
Direct insurance companies or comparison sites like Squaremouth, Insubuy, and others allow one to acquire annual travel insurance. Comparing quotes from several companies will determine the most excellent coverage and pricing for your requirements.
| Provider | Plan Name | Max. Trip Length | Coverage Area | Eligibility | Medical Coverage | Medical Evacuation | Trip Cancellation/Interruption | Baggage Loss/Delay | Other Notable Benefits | Sample Annual Cost (30-year-old) |
|---|---|---|---|---|---|---|---|---|---|---|
| Voyager Annual Travel InsuranceSM | Silver/Gold | 90 days | Domestic and International (100+ miles from home) | US Residents | $50,000/$250,000 | $100,000/$250,000 | N/A / Gold: $5,000 | $1,000/$2,500 (Loss)$300/$750 (Delay) | 24/7 Assistance, Gold: Political & Natural Disaster Evacuation | $93/$332 |
| Multitrip.com | Essential/Premier/Premier Plus | 31/60/60 days | Europe/Worldwide (+/- USA/Canada) | UK Residents | €20 Million | Included | €1,200/€5,000/€10,000 (Cancellation)Included (Curtailment) | €1,200/€2,000/€5,000 | 60+ Sports & Activities covered, Premier Plus: Winter Sports & Excess Waiver | From €19.95 |
| American Visitor Insurance | Patriot Multi Trip/Trekker Essential/Atlas Multi Trip/Voyager/GlobeHopper Senior | 30/70/30-45/90/30 days | Varies | Varies | $1,000,000/$50,000/$1,000,000/$50,000/$1,000,000 | Included | Limited/Limited/Limited/N/A/Limited | Included | Varies | $282/$120/$188/$100/N/A |
| Travel Guard | Annual Plan | 90 days | Varies by destination | US Residents | $50,000 | $500,000 | Up to 100% Trip Cost / $2,500 | $2,500 (Loss)$1,000 (Delay) | 24/7 assistance, Security Evacuation | $200-$400 |
| Compare the Market | Annual Multi-trip | 31/60 days (varies) | UK, Europe, Worldwide (+/- USA/Canada) | UK Residents | Included | Included | Included | Included | Varies by plan level | From £9.70 (Europe) / £35.95 (Worldwide) |
| Heymondo | Annual Multi-Trip | 60 days | Worldwide | Under age 50 | $10,000,000 | Included | Up to $7,000 (Cancellation)Included (Interruption) | $2,500 (Loss)Included (Delay) | 24/7 assistance, Adventure sports and electronics add-ons | $138 - $510 |
| DAN | Traveler/Explorer/Voyager | 90 days (31 days AK, 365 days NY) | Domestic and International (100+ miles from home, excludes Cuba) | US Residents (except IN) | $50,000/$100,000/$250,000 | $250,000/$500,000/$1,000,000 | $2,000/$3,000/$5,000 (each) | $1,500/$2,000/$2,500 (Loss)$100/$200/$500 (Delay) | 24/7 assistance, concierge service, rental car damage coverage | ~$309/$440/$662 |
| Policybazaar.com | Annual Multi-Trip | 30-60 days | Worldwide | Indian Citizens, 18-70 | Included | Included | Included | Included | Add-ons for adventure sports, etc. | From ₹30/day |
| Go.Compare | Annual multi-trip | Typically around 30 days | Europe, Worldwide (+/- USA/Canada/Caribbean) | UK Residents | Included | Included | Included | Included | Covid-19 medical coverage | £60 (Median Cost) |
| Insubuy | Annual Multi Trip | 30/45/70 days (varies) | International | Varies | Included | /Repatriation">Included | Some plans | Included | Varies | $120-$284 |
| VisitorsCoverage | Annual Multi-Trip | 30/45 days (varies) | International | Varies | Included | Included | Limited | Included | Varies | Varies |
| WorldTrips | Atlas MultiTrip™ | 30/45 days | International | Residents of most countries | $1,000,000 | Included | Limited | $1,000 (Loss)Included (Delay) | 24/7 assistance, acute onset of pre-existing conditions, political evacuation | $188-$323 |
| Seven Corners | Trip Protection Annual Multi-Trip | 40 days (30 days for FL) | Domestic and International | US Residents (except NY, WA) | $250,000 ($50,000 for NH) | $500,000 | Up to $30,000/$45,000 | $2,000 (Loss)$1,000 (Delay) | 24/7 assistance, COVID-19 coverage, adventure activities | $375.50 (for $2,500 annual limit) |
| Travel Insured International | Annual Multi-Trip Protector | 45 days | Domestic and International (100+ miles from home) | US Residents (except MO, MT, NY, PA, WA), Under 80 | $100,000 | $500,000 | Optional | Included | CFAR available, online plan management | $94 |
