Why You Should Consider Annual Travel Insurance

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Have you decided recently to live the dream, jet off for the year and screw the 9 to 5? Great! You probably have a plan or at least  a rough idea of where you’d like to go. Once you decide on your first location and duration, you should strongly consider taking out some annual travel insurance, as you may need it.

Traveling is fun but the unfortunate reality is, certain parts of the world are more dangerous than others,  especially if you are a woman. On a lighter, but no less frustrating note, foods and the air quality in certain locations may make you sick and you could be out of commission with a medial bill to pay! So yes, insurance is definitely worth it.

Chinatown in Bangkok, Thailand

For example, you might embark on a year long journey through Asia, stopping off in Thailand, Cambodia, Vietnam and Indonesia, before making your way to walk the Great Wall of China route. Sound good? All of these places are quite different from the Western culture and certain countries might not have the same health and safety standards as your home country. And remember, if you are traveling solo, there is a higher chance that you could be a target for criminals.

The beauty of an annual travel insurance policy is that it covers you for the year and you can make unlimited trips within that year, being covered. Taking out an annual insurance policy is wise if you are making more than two or three single short trips in the year as it will be more cost effective than purchasing a separate policy for each trip.

Thailand's Incredible Floating Markets

What to look for in Annual Travel Insurance

  • As mentioned above, an annual policy should prove to be cheaper than single trip coverage if you are making multiple trips in the year.
  • Take care with your policy’s start date in order to benefit from a cancellation cover (more on this below).
  • Remember: There will be a limit on the number of days you will be covered for on each of your trips.
  • When initially taking out your annual policy, have a think about all of the destinations you need insurance for throughout the duration of the policy – think long term!

Monkeys at Batu Caves in Kuala Lumpur

Important Information About Annual Travel Insurance

A lot of people delay in taking out their annual policy until the actual day of their trip! This means that their coverage rolls over into the next year but this can be a costly mistake. For an annual policy, any cancellation coverage won’t start until the policy date start, which you will need to specify when you purchase the policy. This could mean you are not covered for potential cancellations leading up to your trip…Bear in mind!

Note that on annual policies, there will usually be a restriction on the number of days cover for each individual trip. Insurance companies typically cover for between 30 to 45 days per trip. Although, some insurers will cover you up to 60 days per trip.

Remember the key points; cover yourself before your departure date, make note of your intended individual trip duration and check all the fine print of your policy before you depart!

*Disclosure- This post contains sponsored content or affiliate links.

 

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6 thoughts on “Why You Should Consider Annual Travel Insurance

  1. I would never travel without some kind of insurance, but I’ve always taken out individual policies for each trip. Now I see that this might not be the most cost effective way to do it. The benefits of taking out an annual policy are really worth looking into – thanks for the tip!!

  2. On all the expenses one has while traveling, insurance truly is a no-brainer … I never leave home without it!

  3. It is very smart to have annual travel insurance when you travel frequently. I’ve needed it several times!

  4. I keep getting these reminders that travel insurance is important. Most of our travel is done using frequent flyer miles and hotel points, so I never worry too much about losing money, but I haven’t really thought about whether I’d be covered for injury or sickness or a number of other possibilities. Guess I’m going to have to be more serious about getting travel insurance!

  5. I totally agree! I’ll never travel without insurance. Thanks for sharing 🙂

  6. I should have gotten annual travel insurance this year as I’ll be traveling overseas twice. Der! It came in handy for my Greece trip when my camera was stolen. Worth every penny!

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