Annual Travel Insurance Guide

If you’re frequently flying and travelling around the world throughout the year, then annual travel insurance is probably the most convenient cover option that will save you time and money. It will certainly work out cheaper than taking out single trip insurance every time you have to fly somewhere, whether it’s for work or for pleasure.

Read on to find out which travel insurance policy is the best option for you.

What’s the Annual Multi-Trip Travel Insurance?

Annual travel insurance is a policy that covers you for multiple trips that you take throughout a 12-month time period. Unlike normal travel insurance which covers you for only one trip, annual insurance allows you to travel back and forth between Australia and overseas destinations multiple times without forfeiting your cover.

Here are just a few of the benefits that you can expect to get from an annual policy:

  • Cover for One Year with One Policy – With an annual travel insurance policy, you can take an infinite number of trips within the 12 months period that the policy is valid for, with the only condition being that you spend a limited number of days in each destination, typically between 15 to 45 days. Make sure you read the Policy Disclosure Statement to find out more about the conditions associated with you annual multi-trip policy.
  • One Policy Means Savings – Getting a multi-trip annual policy is like buying in bulk, which means that it always works out cheaper than buying a new policy every time you travel.
  • One Policy Means Convenience – You’ll have a peace of mind knowing that you won’t have to worry about arranging a new policy every time you travel.
  • One Policy Means Flexibility to Travel Whenever You Want – You can decide to travel instantly knowing that the travel insurance aspect of your journey is already taken care of.

The Difference between Single-Trip and Multi-Trip Travel Insurance

  • Duration – While a single-trip policy only covers you for one journey, a multi-trip annual policy provides you with cover for several individual trips to multiple destinations, granted that they’re all taken within a 12-month time span. The only hitch with annual travel insurance is that there’s a limit on the number of days that you’re allowed to spend in one destination. With most insurers this limit is usually between 15 and 90 days.

    Also, although single-trip insurance allows you to travel to multiple destinations within that one trip, the cover usually expires once you return to Australia, whereas an annual policy stays valid for the entire year, no matter how many times you return to Australia.

  • Pre-Existing Medical Condition Cover–It’s rare to find an insurance provider that offers an annual policy for persons with a pre-existing medical conditions. It’s relatively easier to get single-trip insurance if you have a pre-existing medical condition.

What’s Included in the Annual Travel Insurance Cover?

An annual multi-trip policy features all the benefits you’d get from a single-trip policy, including:

  • Overseas medical care and hospital expenses
  • Medical evacuation
  • Cancellation fees and lost deposits
  • Cover for lost or stolen luggage and personal effects
  • Travel delays
  • Personal liability
  • Rental vehicle insurance excess

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