Do You Need Multi-Trip Travel Insurance?
Updated October 22, 2024 at 1:56 pm
Annual travel insurance, also called multi-trip travel insurance or multi-trip holiday insurance, provides valuable protection for multiple trips throughout a year. This insurance can help ensure you’re covered if you experience flight delays, fall ill or get injured during your travels.
While multi-trip travel insurance might offer some peace of mind, it could have limitations depending on the policy you choose, and it may not be the best choice for everyone. It’s also typically more expensive than single-trip insurance. That said, if you’re a frequent traveler, purchasing multi-trip coverage could make sense—and it might end up being less expensive in the long run than buying individual policies for every trip.
If you’re trying to determine if annual travel insurance is right for you, here’s what to know.
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Vault’s Viewpoint
- Multi-trip travel insurance protects multiple trips made over a year.
- Single-trip coverage makes more sense if you only take a few trips each year.
- The cost of annual travel insurance and coverage options vary by company, but multi-trip travel coverage might be more affordable than you think.
What Is Multi-Trip Travel Insurance?
Annual—or multi-trip—travel insurance is coverage that you purchase once a year for protection on multiple trips. Basic annual travel insurance policies often provide healthcare coverage in case you get sick or injured and need medical attention. They may also provide additional protections like emergency evacuation, baggage delay and trip interruption insurance, and other add-on coverage.
With basic annual travel insurance, you’ll typically be covered for trips up to 90 days in duration, but time limits vary by policy. If you’re taking a longer trip, speak with providers about your options; you might be able to extend your coverage for an added cost. Certain insurers may also cover you if you have a pre-existing condition, which can ensure you can get affordable medical assistance no matter where you travel.
Like other insurance policies, multi-trip travel insurance coverage has its limits. For example, it’s common to see a $50,000 coverage limit for emergency medical expenses. Premium policies typically come with higher limits than basic policies, though they generally have a higher price tag.
Multi-Trip Travel Insurance vs. Single-Trip Travel Insurance
Annual travel insurance and single-trip travel insurance can both protect you on trips, but they work differently. An annual policy will protect you on multiple trips, while a single-trip policy will only cover one specific trip.
Here’s an at-a-glance comparison of single-trip vs. multi-trip insurance and how they differ.
| Single trip | Multi-trip | |
| Coverage structure | One trip | Multiple trips |
| Duration in effect | Length of single trip | One year (trip length maximums, often 60 or 90 days, may apply) |
| Common coverage categories | -Cancel for any reason (CFAR) -Medical expense coverage -Dental care -Trip interruption insurance -Trip delay insurance -Lost baggage -Baggage delay -Emergency evacuation | -Medical expense coverage -Dental care -Trip interruption insurance -Trip delay insurance Lost baggage (may be an add-on) -Baggage delay (may be an add-on) -Emergency evacuation |
In addition to these options, many people get travel insurance through their credit card issuer. Some of the best travel credit cards include insurance as a perk, though specific coverage varies by card and issuer. You likely won’t get as much coverage with beginner travel credit cards, but premium cards offer some of the same perks as popular travel insurance policies.
In general, credit card travel insurance focuses on airport-related coverage (like lost baggage insurance) instead of health-related coverage (like emergency medical expense insurance). Still, certain cards with the highest annual fees, like the Chase Sapphire Reserve®, do offer basic medical and dental insurance and medical evacuation in addition to airport-related coverage.
Options for Multi-Trip Insurance (Annual Trip Insurance)
Coverage types, amounts, annual maximums and deductibles can vary depending on the company and policy you choose. Below are our top picks to help narrow things down. To compare costs, we generated quotes using the profile of a 35-year-old traveler from Massachusetts.
GeoBlue
| Estimated cost | $185 (35-year-old traveler from Massachusetts) |
| Annual Max Coverage | Up to $1 million |
| Deductibles | Up to $200 |
| Policy Highlights | -Medical emergency transportation (up to $500,000) -Accidental death & dismemberment (up to $25,000) -Prescription drug coverage (up to $5,000) -Dental care (up to $300) -Lost baggage ($500 per trip or $100 per bag) -Repatriation of mortal remains (up to $25,000) -Emergency medical care -Pre-existing conditions covered |
Travel Guard
| Estimated cost | $285 (35-year-old traveler from Massachusetts) |
| Annual Max Coverage | Not disclosed |
| Deductibles | Not disclosed |
| Policy Highlights | -Medical (up to $50,000) -Emergency evacuation and repatriation of mortal remains (up to $500,000) -Accidental death and dismemberment (up to $50,000) -Dental care (up to $500) -Lost baggage (up to $2,500) -Baggage delay (up to $1,000) -Trip interruption (up to $2,500) -Trip delay (up to $1,500 at $150 per day) |
Allianz
| Estimated cost | $485 (35-year-old traveler from Massachusetts) |
| Annual Max Coverage | Not disclosed |
| Deductibles | None |
| Policy Highlights | -Emergency medical (up to $50,000) -Emergency medical transportation (up to $500,000) -Trip interruption (up to $15,000) -Trip cancelation (up to $15,000) -Travel accident (up to $50,000) -Lost baggage (up to $2,000) -Baggage delay (up to $2,000) -Travel delay (up to $1,500) -Pre-existing condition coverage |
Is Multi-Trip Travel Insurance Worthwhile for Your Lifestyle?
Multi-trip travel insurance may be worth it for your lifestyle, especially since the cost isn’t usually much more than single-trip coverage. This is especially true if you travel often, as the cost of several single-trip insurance policies could easily add up.
Here are some travelers that could benefit from purchasing an annual travel insurance policy.
- Frequent solo travelers
- Families who travel several times a year
- People planning long-term trips of up to 90 days
- Travelers who often visit family abroad
- Students studying abroad
The other important thing to consider is how much coverage you want. If, for instance, you’d like the peace of mind of having trip cancellation insurance for your travels, you may need to look beyond a basic policy and purchase a higher-tier option or an add-on.
The good news is that many insurers let you customize your annual travel insurance so you can get coverage that meets your needs. If you’re considering a multi-trip policy, compare basic and higher-tier coverage from different companies and ask about add-ons and potential exclusions. Understanding exactly how the coverage protects you will help you choose the best policy.
Frequently Asked Questions
Can You Get Travel Insurance for Only Part of a Trip?
When you purchase travel insurance, it typically covers you for the full length of your trip. That said, certain insurers may let you customize your policy to cover a portion of your trip, though this is uncommon. If you go this route, keep in mind that you won’t be protected if something happens outside of your coverage window. Compare quotes for full and partial coverage (if available) before choosing an option.
What Is the Main Disadvantage of Multi-Trip Insurance?
The main disadvantage of multi-trip insurance is that it might offer less coverage than single-trip policies. More comprehensive coverage might be available through add-ons, though this coverage will likely have a higher cost.
Is Multi-Trip Travel Insurance More Expensive Than Single-Trip Travel Insurance?
Annual travel insurance is generally more expensive than single-trip insurance, as it covers several trips instead of just one. Still, the added cost of annual travel insurance could be worth it if you’re a frequent traveler. It might end up being more expensive to purchase multiple single-trip policies, depending on how often you travel.
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