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Annual multi-trip travel insurance
Annual multi-trip travel insurance
Written by
Rachel Gregg
Edited by
Laura Crowden
Reviewed by
Adrian BennettEasily compare Travel Insurance
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What is annual travel insurance?
Long story short
Cover endless getaways under one policy
Annual multi-trip travel insurance lets you cover multiple trips within 12 months without needing to reapply every time you have international or domestic travel plans.
An annual multi-trip policy can be more convenient or cheaper
If you’re a frequent flyer, it could be more convenient and even cheaper to choose an annual multi-trip plan over a bunch of single-trip policies.
Know your annual travel policy limits
Annual policies come with trip duration limits, distance requirements, age limits, and other conditions.
What is annual travel insurance?
Annual travel insurance covers multiple trips within a 12-month period. For frequent travellers, an annual multi-trip policy can be very cost-effective and more convenient than taking out a single-trip policy for each trip.
While a standard travel policy is a one-trip wonder, annual travel insurance can cover all your getaways without needing to reapply every time you repack. Trips must fit within trip duration limits outlined by your insurer and if you exceed these limits, you could be left without cover. For most policies, you won’t even need to let your insurer know when you’re planning a trip, as long as you stay within maximum trip durations.
Most annual multi-trip policies come with different coverage options (comprehensive, essential, etc.), so make sure to check whether your policy includes everything you need or whether you need to pay an additional premium for optional extras to cover things like adventure sports and cruises. Some annual travel insurance policies can also cover domestic trips.
What does annual multi-trip travel insurance usually cover?
Annual multi-trip travel insurance covers unlimited trips within a 12-month period, as well as common travel insurance benefits like medical cover costs, lost luggage or stolen valuables, and trip cancellation. You’ll also have the option to add extra coverage on top of your policy for adventure activities or snow sports. Exclusions on annual policies can include individual trips that last longer than your policy limits, ignoring Smartraveller advice warnings and claims related to pre-existing medical conditions not declared to your insurer beforehand.
Typically covered
Unlimited trips: Take as many trips as you like in the 12-month policy period, as long as each trip takes you at least 250 kilometres from home. The exact distance and trip durations may differ with each insurer.
Overseas medical expenses: If you fall sick or get injured overseas, annual multi-trip travel insurance could cover your hospital expenses (including dental), emergency evacuation and travel back home if required.
Trip cancellation costs: Annual multi-trip travel insurance may help you recoup trip cancellation and prepaid costs if you have to cancel or reschedule due to unforeseen or unexpected reasons.
Lost, damaged or stolen luggage: If you’ve taken all the right steps to secure your luggage and still have things go missing, annual multi-trip travel insurance can cover you up to the item or policy limits.
Optional cover
Adventure activities: Some extreme activities that are higher risk are often excluded from annual multi-trip policies. You’ll need to take out specific optional extras to cover common activities like quad biking, scuba diving, outdoor rock climbing and more.
Snow sports: Just like adventure activities, extra cover is also needed for snow sports. This optional extra will cover snow-related activities like skiing, snowboarding and even tobogganing. It should also come with more coverage for your expensive ski gear and cancellation costs for things like lift passes.
Cruise cover: Cruising out on the high seas can come with its own set of worries. Most insurers and cruise companies will need you to take out specific cruise cover. This will come with higher medical limits, missed ports cover, sea sickness and other concerns unique to holidays spent on the waves.
Motorcycle cover: If you plan on getting around via moped or scooter, you may need extra coverage on top of your policy. This cover helps protect you from accidents and injuries that could happen but can depend on your bike’s engine capacity.
Typically not covered
Pre-existing medical conditions: You’ll need to declare any pre-existing medical conditions, and sometimes pay extra to have them covered. If you don’t disclose them, it could mean you aren’t covered in an accident or medical emergency during your trips.
Personal belongings left unattended: While your policy will cover you for stolen luggage, if you leave your bag or laptop unattended in a public or communal space, like an airport, your claim could be rejected.
Ignoring government advice: Be sure to check the latest government travel alerts for your destination before the departure date. If the advice level is ‘Do Not Travel’, claims may not be covered.
Claims that occur while under the influence: If you were under the influence of drugs or alcohol at the time, your claim could be rejected.
Helpful tip
An annual multi-trip policy doesn’t mean you can just disappear overseas for the entire year and be covered. Each multi-trip policy comes with a maximum duration for each holiday you take within the year. Go over that limit, and you could be all by yourself if things do go wrong. So, before you start packing, make sure to check the full details and conditions of your annual trip policy so it can come with you on all your adventures abroad.
Adrian Bennett
General Manager for General Insurance
How does annual multi-trip travel insurance work?
Annual multi-trip travel insurance works by covering you for an unlimited number of trips within a 12-month period. This means you pay one premium at the start of your policy, and that’s it. With some annual policies you don’t even need to let your insurer know when you book a new trip – as long as it fits within your trip duration sub-limits, you can travel as much as you like. This means you’ll be covered for all common travel inclusions like medical care, cancellation cover, personal belongings and more under one single policy.
Unlimited trips
Annual travel insurance policies offer unlimited trips within a 12-month period. Often, there is no need to give your provider a heads up each time you head off. As long as you follow the conditions of your policy (like trip durations), you’re free to roam.
Trip duration limits
Some policies have a strict maximum trip duration, such as 45 days, while others give travellers a bit more flexibility with 30, 45 or 60 days. This shouldn’t limit the number of trips you take, it’s just an extra consideration to think about when planning out the length your getaways.
Cost
Annual travel policies often work out more cost-effective, but if you don’t travel enough, they might not be worth the expense. It could be worth weighing up the price of each single-trip policy compared to an annual one to see which works out better for your itinerary plans.
Age limits
Nearly all travel insurance policies will have age limits, but annual multi-trip policies can differ a bit from standard options. You’ll find that most annual travel insurance policies will have an age limit of around 75 years old.
Who might annual trip multi-trip travel insurance be suitable for?
Annual travel insurance is great for frequent travellers, whether for personal or business trips taking multiple trips throughout the year. A fictional scenario from iSelect highlights the cost difference of $294 for travellers when opting for an annual multi-trip policy over multiple single trip comprehensive plans. In this fictional scenario iSelect found that 6 single trip policies, totalling $969 was more expensive than choosing an annual multi-trip plan for $675. It’s likely worthwhile cost-wise over a single-trip policy if you take more than a handful of trips within a 12-month period. An annual travel insurance plan also offers general benefits like medical coverage, travel delays, personal liability and personal belongings.
Fictional scenario: Annual travel insurance vs. single-trip policies
Take our fictional traveller, Katya. She’s fresh out of uni with plans to celebrate by spending the next 12 months seeing the world. But not all at once (her bank account would melt down at that). She’s mixing part-time work with a few long length international trips here and there. These are her travel plans for the year so far:
- 2 weeks in Japan
- 2 weeks in Canada
- 1 week in Indonesia
- 1 week in New Zealand
- 2 weeks in the US
- 5 weeks in Italy, Greece, Croatia and Romania.
She wants comprehensive travel insurance to protect her against the usual travel disasters, like lost luggage, medical care or rental car dramas. So let’s weigh up the price her insurance could cost her on an annual multi-trip policy compared to single-trip policies for all 6 holidays.
If Katya only planned on taking a few of these trips in the year, single trip cover could work out better financially. But with 6 trips (and counting), an annual travel insurance policy could help her save some time and money, giving her more time to plan her next adventure.
Is it worth getting annual multi-trip travel insurance?
An annual multi-trip travel insurance policy can be well worth it if you take more than a few trips within Australia or internationally across a single year or fly frequently for work. For regular travellers, a multi-trip policy can work out cheaper and more convenient than multiple single-trip travel insurance policies. However, annual policies do come with trip duration limits, a more generalised level of cover and higher upfront costs than single trip options. Whether it’s worth it for you will really depend on how often you travel, and for how long.
Pros
- Convenience: There’s a lot to think about when booking an overseas trip, so only needing to pay for travel insurance once per year can offer peace of mind and cross one thing off your to-do list each time you pack your bags.
- Value: If you travel often, paying once for annual multi-trip travel insurance can work out cheaper than purchasing a single-trip policy for each adventure.
- Domestic travel included: Some annual multi-trip travel insurance policies include benefits for domestic travel, so you can get more coverage when exploring locally.
- Flexible level of cover: Annual multi-trip travel insurance is typically based on comprehensive cover, but you can also find other levels to meet what you need.
Cons
- Higher up-front costs: You’ll generally pay more up-front for annual multi-trip insurance than for a few single policies, which could be a problem if you’re on a tight budget.
- Generalised cover: Depending on where you plan to travel, the coverage in some annual multi-trip insurance policies might not be specific enough for each destination.
- Age limits: Providers usually put an age cap on travellers who can take out an annual travel insurance policy. This could be 70 or 75 years of age, depending on your provider.
- Trip duration limits: Annual multi-trip insurance usually comes with a limit as to how long each individual trip can be, such as 15, 30 or 45 days. If you’re planning some extended trips, your policy might not cover you.
Compare annual multi-trip travel insurance policies with iSelect
If the travel bug has bitten you hard, an annual multi-trip policy could be your solution to worry-free trips (no matter how last-minute they are). If you’re ready for an adventure, compare travel insurance from a range of brands to find a policy that keeps up with your getaways.
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Save time and effort by comparing a range of travel insurance policies with iSelect
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iSelect General Pty Limited ABN 90 131 798 126, AFS Licence Number: 334115. Any advice provided by iSelect is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice iSelect gives you, having regard to your personal situation, before acting on iSelect’s advice or purchasing any policy. You should consider iSelect’s Financial Services Guide which provides information about our services and your rights as a client of iSelect. iSelect receives commission for each policy sold.