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Annual travel insurance

Annual multi-trip travel insurance can be cheaper and more convenient than buying multiple policies. Compare quotes and get set up for an exciting year of travel.

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What you need to know

  • Annual travel insurance typically covers multiple trips in one year for trips up to 90 days.
  • Annual travel insurance can be cheaper than a single policy if you travel to multiple places in a year.
  • Most annual policies cover overseas medical expenses, luggage and personal effects and cancellation fees.

Cheap annual travel insurance

Gary Ross Hunter

Cheap picks selected by Gary Ross Hunter – insurance and innovations editor at Finder

Cheap comprehensive: Travel Insurance Saver Annual Multi Trip

Travel insurance saver
  • It can cover you for up to 45 days per trip. The average is around 30 days.
  • It comes with COVID-19 cover. This includes unlimited medical expenses and rearrangement costs if you or someone you are travelling with catches the virus.
  • It comes with fairly high limits, most likely enough for multiple trips e.g. up to $12,000 for luggage, $10,000 for cancellations, $5,000 rental car excess insurance and unlimited travel delay expenses.
  • FastCover Traveller Saver comes with unlimited cancellation cover. Travel Insurance Saver has a $10,000 cap.
  • There are more comprehensive options, if you're willing to pay more. For example, FastCover and CoverMore have annual policies that all come with higher limits. These could be better for trips over $10,000.
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Cheap basic: Insure4Less Annual Multi Trip Essentials

Insure4Less Travel insurance
  • It's good if you want a very cheap policy covering medical only, including if you catch COVID-19.
  • Out of 45 annual multi trip policies, it was the cheapest available on Finder.
  • It really is a bare bones policy. It only covers medical expenses. It's no help if you need to cancel, rearrange or your luggage is delayed or lost.
  • It can cover you for up to 31 days per trip. If you have a longer trip planned, you should look elsewhere.
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Is it cheaper to buy annual travel insurance?

It's typically only cheaper to buy an annual travel insurance policy if you plan to go on a few big trips in the next 12 months. If you're only going away for around 2 weeks per trip, multiple single travel insurance policies are often cheaper.

For example, when we got quotes for an annual multi trip policy to multiple locations (Bali, Japan, Canada and Europe), the cheapest comprehensive policy was $399. It was $815 for multiple single travel insurance policies.

Here's a table showing the prices if you were to take out multiple single travel insurance policies, as opposed to taking out a multi trip travel insurance policy.

Location & durationPolicy cost
Bali - 7 days$63
Japan - 45 days$225
Canada - 45 days$418
Italy, France, Germany - 21 days$109
Total cost$815
Tim Bennett - travel insurance

How Tim saved on his travel insurance

I saved $500 getting an annual multi-trip policy. I had two big overseas trips planned, one a ski trip, and it was cheaper to get an annual policy instead of individual cover (this was for 2 people). And now I'm covered for the rest of the year too, including on domestic trips.
— Tim Bennett, insurance publisher.

What does annual travel insurance cover?

Multi trip travel insurance covers all the same things as a single-trip policy. This means you can expect cover for:

  • Medical expenses including evacuation. If you get sick or injured while overseas, your policy will cover the cost of your ambulance, hospital bed, surgery fees and evacuation to the nearest hospital (or back to Australia if necessary). Most annual policies offer unlimited medical for international trips, which helps with peace of mind knowing you're covered no matter where you go.
  • Additional emergency expenses. This covers the additional travel and accommodation expenses related to emergencies outside of your control, like becoming medically unfit to travel or the unexpected death of a close relative back home. Most policies will also pay for someone in Australia to travel to you if you're hospitalised overseas.
  • Cancellation fees and lost deposits. This covers your non-refundable pre-paid travel expenses and any cancellation fees if you have to cancel your trip due to unexpected events outside of your control.
  • Luggage and personal belongings. Covers the repair or replacement costs for luggage and personal items that are lost, stolen or damaged during your trip. Some policies will pay you an emergency allowance to help you purchase essential clothing and toiletries if an airline temporarily misplaces your luggage.
  • Travel delay. This pays for unexpected meal and accommodation costs when your flight or other prepaid transportation is rescheduled or delayed for a significant amount of time.
  • Rental vehicle excess insurance. This brings down the unreasonably high excess car rental companies charge if you damage one of their cars. Some policies offer this for free. Others charge extra for it.
  • Cruise and Ski cover. Some annual travel insurance policies include cruise cover and ski cover in their policies. Benefits include onboard medical expenses, missed ports, cabin confinement and more.
  • Personal liability. This pays your legal fees and penalties if you accidentally injure someone or damage their property while travelling.

At first annual travel insurance might seem like a bit of an upfront cost, but if you have a couple of big trips planned in the next 12 months (it looks like many of us do – there's been a 50% increase in departures compared to this time last year) then it's often cheaper than buying multiple individual policies.

What's not included?

All policies have a list of exclusions, which outlines what your policy won't cover and what situations will void your policy. These include if:

  • You're travelling somewhere there's a travel warning. The Australian Government issues advisories for a reason. If you choose to travel to a do not travel country and ignore these warnings, your insurance will be invalid.
  • You don't take care of your belongings. Your insurer won't pay for lost items if you weren't careful with them. This includes leaving your luggage or valuables unattended or leaving your hotel room unlocked.
  • You're taking part in extreme or dangerous activities. Most policies won't cover extreme sports or other dangerous activities such as base jumping or mountaineering.
  • You were acting recklessly. Your insurer can deny your claim if it finds you were acting recklessly at the time. This can include being drunk, being high, breaking the law or putting yourself in harm's way.
  • Illness or injury from pre-existing conditions. If you fail to disclose any pre-existing conditions, your insurer could deny medical claims if they think the new injury or illness is related.
  • You're pregnant. Most policies will not cover childbirth at all and they'll stop covering you if you're pregnant at around 30 weeks. However, they will cover all unrelated medical conditions like a broken wrist for the duration of the trip.

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Frequently asked questions about annual travel insurance

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34 Responses

    Default Gravatar
    KarenJuly 9, 2023

    if I get a 12mth insurance does it have to start from 1st Jan to December as I have a trip this year and one early next year.

      AvatarFinder
      JamesJuly 10, 2023Finder

      Hi Karen,

      Thanks for your message – no, an annual multi-trip policy isn’t restricted to a calendar year. But be sure to check the policy wording, and look out for the maximum length of each journey. This will be shown on your certificate of insurance. Do reach out to the insurer directly if you’ve any questions about how your policy works.

      Best wishes,

      James

    Default Gravatar
    HaroldOctober 5, 2021

    Is it possible to get a 12-month insurance policy?

      AvatarFinder
      JamesOctober 13, 2021Finder

      Hi Harold,

      Yes, it is possible.

      In this case, an annual travel insurance policy would be a good choice. It is a type of policy that can cover you for multiple trips within a 12 month period.

      You can check the table above to check your annual travel insurance options. Be sure to read through the terms and conditions before making a final decision.

      Regards,
      James

    Default Gravatar
    SamFebruary 20, 2019

    Please send quotes for comprehensive annual travel insurance. Travel several times a year for personal travel and conference – international and local. Sometimes travel together and other times independently. We are both healthy.

      AvatarFinder
      JeniFebruary 22, 2019Finder

      Hi Sam,

      Thank you for getting in touch with finder.

      Since you need to start comparing your travel insurance options, kindly enter all details asked on the table such as where you’re going to, age of travellers and date of your first trip then click on the get quote green button. The page will then show quotes and you may filter your search including level of cover – Basic, Standard and Comprehensive, as well as required cover options. Once you have chosen an insurer, please click on the green go to site button to be redirected to the provider’s official page to learn more on the multi-trip travel insurance they offer or even start your online application.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    CatherineDecember 17, 2018

    I will be travelling to South Africa in August then cruising from Barcelona to Dubai in November. Can I get annual insurance to include both?

      AvatarFinder
      JeniDecember 19, 2018Finder

      Hi Catherine,

      Thank you for getting in touch with finder.

      Yes, they are included in an annual multi-trip travel insurance. It covers you for as many trips as you can fit into an entire year with just one policy paid for upfront.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

    Default Gravatar
    DavidFebruary 22, 2018

    Age is 76 years Still working Would like Annual policy mixture of work and pleasure trips Work 10 Days (av) and pleasure 35 Max Days

      AvatarFinder
      JonathanFebruary 22, 2018Finder

      Hi David,

      Thanks for your inquiry.

      To search and compare annual multi-trip travel insurance, kindly enter the dates of travel and your destination to generate quotes for your travel insurance options.

      When you are ready, you may then click on the “Go to site” button and you will be redirected to the insurer’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you read through the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps.

      Thanks,

      Jonathan

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