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Annual Multi-Trip Travel Insurance
Annual Multi-Trip Travel Insurance
Written by
Hudson Brown
Edited by
David RayfieldEasily compare Travel Insurance
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Spend much of your time travelling for business or pleasure? Organising travel insurance every time you pack your bags can be a hassle. Instead, Annual Travel Insurance – also known as Multi-Trip Travel Insurance – can offer a convenient and cost-effective alternative.
What is Annual Travel Insurance and is it right for you?
Whereas a standard Travel Insurance policy will only cover a single trip, Annual Travel Insurance makes it possible to cover all your journeys without needing to reapply every time you travel. For frequent travellers, these policies can sometimes deliver better value, too. You might even find some Annual Travel Insurance policies also cover certain domestic travel, increasing your protection when exploring in your home country. Annual Travel Insurance usually comes with trip duration limits, so double check that any single holiday doesn’t exceed these limits or you could find yourself without cover.
Also, be sure to check that the policy covers you for all activities on your various trips. For example, if you’ve booked a Singapore resort holiday, a ski trip in Canada and a European boat cruise, get cover that includes skiing, adventure sports and cruises.
Choosing between Annual Multi-Trip and Single-Trip policies
The difference between Annual Multi-Trip and Single-Trip Travel Insurance is mostly straightforward, as the former can offer greater flexibility, convenience and value for travellers taking more than a couple of trips per year.
Annual Multi-Trip Travel Insurance Advantages
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.
Can include domestic travel: Some Annual Multi-Trip Travel Insurance Policies includes benefits for domestic travel, meaning you can get more coverage when exploring locally.
Comprehensive cover: Annual Multi-Trip Travel Insurance is typically based on comprehensive cover, so it includes benefits such as medical expenses, cancellation fees and lost luggage.
Annual Multi-Trip Travel Insurance Disadvantages
Higher upfront costs: You’ll generally pay more upfront for Annual Multi-Trip Insurance, 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 to each destination.
Locked-in costs: While Annual Multi-Trip Insurance can make financial sense if you’re travelling several times within 12 months, you may lose value for money if you change plans.
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 throughout the year, your annual policy may not cover you.
How does Annual Multi-Trip Travel Insurance work?
Let’s run through a quick example to explore how Annual Multi-Trip Travel Insurance benefits some travellers over Single-Trip policies.
Katya has just graduated from university and plans to celebrate by spending the next 12 months seeing the globe, with separate week-long trips to Japan, Italy, Canada and Indonesia. She wants comprehensive cover for her travels, in case her luggage gets lost, she needs medical care, or she needs to pay for rental car excess.
When exploring her Travel Insurance options, Katya estimates the total cost of single-trip policies to each destination she plans to visit, arriving at $370-$760. Next, she checks Annual Multi-Trip policies, calculating a total cost of $490-$615 depending on the provider.
Although the Single-Trip policies can sometimes work out cheaper, Katya prefers the benefits and cover limits offered by one of the more costly Annual Multi-Trip policies. Plus, she plans to travel domestically as she loves hiking and camping.
As many Annual Multi-Trip policies include domestic travel coverage, she purchases this type of policy to access protection for personal liability concerns, trip cancellations and more. Plus, she only needs to worry about purchasing one policy to cover all her trips, rather than multiple policies and payments.
Trip limits and what to expect
Annual Multi-trip Travel Insurance can help travellers achieve year-round coverage, but it has limitations. Most common are restrictions on the length of each trip. Some policies dictate a strict maximum duration, such as 45 days, while others allow travellers to choose the most suitable terms, like 30, 45 or 60 days.
Many policies allow unlimited journeys throughout the 12-month cover period but read the fine print of the Product Disclosure Statement (PDS) to check for specific restrictions. Depending on the insurer and where you intend to travel, you may need to purchase extra coverage for winter sports or cruises, which can add to your costs. This could be costly if you’re only going skiing on one of your trips, but you have to add this extra cover to the entire annual policy.
Common Annual Multi-Trip Travel Insurance inclusions and exclusions
Before purchasing Annual Multi-Trip Travel Insurance, it’s important to understand the inclusions and exclusions generally found in these policies. This way, you’ll know how a policy’s coverage applies to your upcoming adventures.
| Common Inclusions | Common Exclusions |
| Overseas medical expenses: If you fall sick or get injured overseas, Annual-Multi Trip Travel Insurance could cover your medical expenses and even emergency evacuation or travel back home if required. | Pre-existing medical conditions: You’ll usually have to declare pre-existing medical conditions when purchasing Travel Insurance, and sometimes pay extra to have these covered. Failing to do so could mean you aren’t covered should you have an accident or medical emergency. |
| Trip cancellation costs: Annual-Multi Trip Travel Insurance may help you recoup trip cancellation costs if you have to cancel or reschedule your trip due to reasons outside your control. Cancellation cover sometimes comes at an additional fee. | Ignoring government advice: Be sure to check the latest government advice for your destination before the departure date. If it’s listed as ‘Do Not Travel’, claims you make may not be covered. |
| Lost, damaged or stolen luggage: If you’ve taken reasonable steps to secure your luggage, Annual-Multi Trip Travel Insurance often covers the cost of replacing your items up to the policy or item limits. | Adventure activities: Specific extreme activities, including winter sports, are often excluded from Annual-Multi Trip policies. You can usually purchase additional cover for common activities like skiing, snowboarding, outdoor rock climbing and more. |
Compare Annual Travel Insurance policies with iSelect
Ready for an adventure? Make the next year all about seeing the globe with Annual Multi-Trip Travel Insurance. Compare Travel Insurance from our range of providers today to look for a great policy.
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