Decoding Our Annual Travel Insurance Plan: Is it Worth It?

An annual travel insurance plan, also known as a multi-trip travel insurance plan, is a type of insurance plan that provides coverage during trips taken within a 364-day period. Instead of buying separate travel insurance plans for each trip, you pay for one plan that provides coverage during all trips taken in the next 364 days (the plan term), up to a specified trip duration limit (e.g., 60 or 90 days per trip).

This type of travel insurance plan typically includes coverage for certain medical emergencies, lost luggage and travel delays. Benefit limits are aggregated across the plan term, meaning the benefit limits apply to the entire plan term period, not per trip. 

An annual travel insurance plan is a great choice for people who travel often. The cost of an annual plan can be more cost-effective than buying a new plan for every trip. Spontaneous travelers who are apt to head out at the last minute can also benefit from an annual plan. With last-minute travel plans, you’re probably not worried about Trip Cancellation coverage and having an annual plan means one less thing to remember when you’re flying out on your next adventure!

Keep in mind, you’ll want to consider where you plan to travel for the year when considering an annual plan. Domestic travelers may be more likely to find the annual travel insurance plan beneficial since the benefit limits are aggregated for the whole plan term and could quickly be used up during international travel.

On Travel Guard’s Annual Plan, there is no limit on the number of trips you can take. All trips (up to 90 days) may be covered as long as you have benefits remaining. Since the annual plan benefit limits will lower in value per paid claim, you’ll want to keep track of any claims submitted throughout the plan term and how that impacts your remaining benefit limits.

Yes, if the benefit limit for a specific coverage on your annual plan hasn't been fully used already, you can claim under that coverage more than once. Each of Travel Guard’s Annual Plan coverage benefit limits are aggregated, so the benefit amount you see on your policy details for each coverage is for the entire plan term. Those benefit limits decrease as claims are paid. For example, if your covered luggage is lost on your first trip, and you filed a claim that led to reimbursement of the full Baggage Coverage benefit, you wouldn’t receive benefits from covered losses under Baggage Coverage on future trips, but you would have all other coverages that have not been fully used.

Yes, if you have a pre-existing medical condition, you’re still able to purchase an annual travel insurance plan. Because the plan covers you during travel for a 364-day period, not just one trip with specific start and end dates, the Pre-Existing Medical Condition Exclusion Waiver is not available on the Annual Plan. However, be sure and look at the Annual Plan policy details if you’re concerned about a pre-existing medical condition. In some cases, the lookback period for the Annual Plan is just 90 days preceding the purchase date of the plan. If pre-existing medical conditions are still a concern for you – think about one of our single trip travel insurance plans that offer a Pre-Existing Medical Conditions Exclusion Waiver when you purchase within 15 days of making your first deposit on your trip.

The best time to buy may depend on the kind of traveler you are. Since coverage is provided for a 364-day window, you’ll want to ensure any trips you have planned will fall within this window. For instance, you may choose to wait until a week before your first planned trip before purchasing an annual plan. On the other hand, if you travel on a whim, you may want to purchase an annual travel insurance plan before you have any set plans.

Yes! An annual travel insurance plan is a great choice for many travelers who want a more cost-effective option for multiple trips throughout the year. By purchasing an annual plan, you’ll have the convenience of coverage during all your trips year-round and one less thing to remember when you’re planning your vacation.