How Annual Travel Insurance works

Annual travel insurance is a travel insurance that covers you for one full year of travel, no matter how many times or places you explore. Instead of purchasing separate insurance policies for each trip, you can buy one annual policy to cover all your time spent abroad during a 365 day period. You can purchase it as an individual or group plan, giving you coverage for your whole family/group throughout the year.

For those who travel regularly, annual travel insurance can be set up to automatically renew each year, until you choose otherwise. You’ll have the flexibility to change your travel plans at any time without needing to purchase additional coverage or leaving yourself unprotected.

Annual travel insurance can refer to both annual multi-trip insurance and long-stay insurance, since it covers both.

Whilst multi-trip insurance covers you for two or more short trips, long-stay travel insurance insures you for a single, continuous trip that lasts more than 90 days. Long-stay is ideal for those going on long term backpacking adventures, or completing a training or work placement abroad, where your trip extends beyond the maximum allowance for a short-stay insurance.

Annual travel insurance allows you to cover whatever trips you have planned, whether they’re many small trips over the course of the year, or a longer stay in one specific destination.

Insurte offers insurance plans that include both multi-trip and long-stay travel within the same insurance. This allows you complete flexibility over how often you travel and how long you stay abroad during the 12 months of your coverage.

Our annual policy lasts for 365 days, with no maximum limitation of 90 days or 120 days on any of your short-stay trips (Except the Axa Platinum plan). If your trip extends beyond 365 days, you can renew your policy automatically, and benefit from continuous coverage for as long as you wish.

As mentioned above, annual travel insurance can cover both multi-trip travel and long-stay travel plans.

A typical multi trip travel insurance can be applied to multiple short stays throughout the period of your insurance. Generally multi-trip insurance will have a maximum duration limit on each trip - of 60 or 90 days, for example, so it’s an ideal coverage for anyone who travels regularly, but doesn’t stay long.

However, unlike most multi-trip travel insurance plans, which cap each individual trip at a maximum duration, Insurte’s annual travel insurance will allow unlimited time abroad during the year of coverage with the Mutuaide Universal Annual plans.

To understand whether annual travel insurance is the best option for your travel plans, it’s worth considering if any of the following apply to you:

Frequent travel: If you take multiple trips in a year, annual insurance can be more cost-effective and convenient than buying separate policies for each trip.

Long stays: If you’re likely to be traveling for more than 90 days of the year, annual insurance could be the most cost effective option.

Worldwide travel: If you’re globe-trotting and visiting multiple countries during your trip, you’ll want an annual worldwide travel insurance to cover you for worldwide travel.

Travel for business: Business travelers who frequently go on short trips can benefit from annual insurance that covers both work and leisure trips.

Specific visa requirements: Certain countries or regions, for example the Schengen zone, demand proof of medical travel insurance to qualify for a visa.

There are plenty of different options available for annual travel insurance, but you’ll want to make sure that the plan you take out covers as a minimum:

• Medical expenses: This covers any emergency medical treatment you may need whilst abroad, and is mandatory for obtaining a visa for certain countries.
• Medical repatriation: In case the unthinkable should happen (including if your mortal remains need to be returned home). This is also a requirement for some visa applications.
• 24/7 travel assistance: This can be invaluable if an emergency occurs during your trip and you require advice about anything from your policy to support and services.

Beyond these key guarantees, annual travel insurance plans often have additional benefits, including:

• Covid-19 or other epidemics: Expenses relating to an epidemic such as enforced quarantine.
• Luggage insurance: This covers any luggage that is lost, stolen or damaged.
• Sports (search and rescue costs): Sports such as skiing can also be built into some plans.
• Acts of terrorism: If a disturbance breaks out during your trip, the insurance will provide for any assistance you require, including your safe evacuation.
• Legal fees abroad: In case legal assistance is needed, this guarantees the coverage of legal fees, including advance of bail abroad.
• Assistance for loss or theft of identity papers abroad: Supporting you in renewing your identity documents to allow you to return home.
• Psychological Assistance: Funding for psychological therapy following a traumatic event.

Annual travel insurance won’t be the best option for every traveler. Below are some of the pros and cons of annual travel insurance, to help assess if it's right for you.

Pros of annual travel insurance:

Convenience: Annual insurance simplifies the process of purchasing coverage for each trip, saving you time and effort.

Flexibility: With an annual multi-trip policy in place, it won’t matter if you change your travel plans throughout the year, as you will be covered for an unlimited number of trips and, in the case of worldwide travel insurance, any country too.

Comprehensive Coverage: Annual policies comprise a wide range of additional guarantees, such as emergency medical expenses, loss of papers, and baggage protection.

Cost savings: If you’re a frequent traveler or staying abroad for more than 90 days, annual travel insurance could be the cheapest option.

Cons of annual travel insurance:

Larger upfront cost: While annual insurance can be cost-effective in the long run, the upfront premium payment may be higher than the cost of a single-trip policy. This can be a drawback for travelers on a tight budget.

Unused Coverage: If you don't travel frequently enough to make the annual policy cost-effective, you might end up paying for coverage you don't use. In such cases, single-trip insurance might be more suitable.

Change of plans: Your travel plans or needs might change during the year, meaning you no longer have any need for the annual policy.

Annual travel insurance and annual travel medical insurance are sometimes confused, but they are in fact the same. Certain countries or regions require basic medical insurance for visa applications, to insure any emergency medical treatment needed during your stay, as well as repatriation. This medical coverage is included within all annual travel insurance policies.

Where the difference lies is within travel medical insurance specifically. Travel medical insurance only covers you for medical related claims in accordance to your policy, while annual travel insurance covers this, and a variety of other non-medical guarantees, lost belongings, and legal expenses.

All travel insurance policies vary in terms of the benefits they offer, so it’s important to find the best fit for your needs.

Before you choose a policy, be sure to take your time comparing the different options available with an online tool like Insurte.

The best way to compare annual travel insurance is to use an online travel insurance comparison tool. Once you enter your travel plans into the initial form, the tool will generate a list of insurance quotes best suited to your needs. You can then filter the results further by toggling options such as worldwide cover, multi-trip or Covid-19 cover, and read the terms of each available option before making a purchase.

Before you choose travel insurance, consider what your priorities are. Are you looking for the cheapest annual travel insurance, or do you want the most flexible coverage? You may be happy with basic cover, or prefer the reassurance of a flexible, comprehensive insurance that will cover any unforeseen circumstances.

Once you understand your priorities, it will be easier to select which travel insurance best fits your needs. Draw up a list of what you want to look out for before you start browsing solutions.

The cheapest annual travel insurance plans tend to be those with reduced guarantees, that just cover basic needs such as medical cover, repatriation and 24/7 travel assistance. On Insurte, even these low cost plans meet the requirements for annual Schengen visa travel insurance.

If your focus is on finding a low cost annual travel insurance, consider picking an insurance with deductibles (also known as excess), as this will reduce the upfront cost. Providing you don’t need to make a claim during your trip, this could save you money overall.

In the Insurte comparison tool, all the guarantees are listed for each policy, giving you a fast and easy way to compare one product to another.

For the best comprehensive annual travel insurance, look out for advanced guarantees such as no deductible and lost luggage. You can also filter your search according to additional guarantees such as Covid-19, worldwide or multi-trip options.

There are multiple factors which will positively or negatively impact the cost of your annual travel insurance.

Deductible vs no deductible (excess or no excess): The cheapest insurance tends to include a deductible, which is an amount of money you would need to pay out of pocket before any insurance payout is made. Insurance with no deductible is more costly up front, but you won’t need to contribute to any further cost when making a claim.

Basic vs comprehensive: Cheaper insurance plans will handle only the basic provisions such as emergency medical treatment and repatriation, whilst comprehensive policies, although more expensive, give a broader range of protection, which you could be grateful for in the long run.

Number of travelers: The more travelers you add to your policy, the more expensive your premium will become.

Number of countries covered: Worldwide insurance is the most expensive, as well as being the most flexible, if you aren’t yet sure which countries you might decide to visit. To keep costs lower, you can just choose coverage for one region (Schengen & United-Kingdom)

The length of your trip(s) won’t impact the price of your annual travel insurance, since it’s based on a 365 day period, regardless of how many trips you make within that time frame.