Annual Travel Insurance

Are you a frequent flyer? Find out how multi-trip travel insurance can help you save.

For those who travel multiple times throughout the year, annual travel insurance (also referred to as multi-trip travel insurance) is more convenient and often more affordable than multiple single trip travel insurance policies. The benefits of annual travel insurance include:

• One policy means cover for one year. Enjoy unlimited trips for 12 months up to the maximum trip duration outlined in the policy disclosure statement (PDS).
• One policy means savings. Depending on the number of trips you take, annual travel insurance can save you money.
• One policy means convenience. You don't have to worry about organising a policy each time you travel.
• One policy means you can travel whenever you want. If you want to travel at the drop of a hat, an annual travel insurance policy means there's one less thing for you to think about.

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What is covered?

Annual travel insurance protects you in much the same way a single trip policy does. The major difference between the two types of policies is the journeys they cover.

• Annual travel insurance. An annual travel insurance policy will cover you for multiple individual trips to multiple destinations over a 12-month period. However, the duration of these individual trips is limited to the maximum single trip duration specified on your Certificate of Insurance, which can be anywhere from 30 to 90 days.
• Single trip travel insurance. A single trip policy will cover you for one journey. The single trip can contain multiple destinations. However, these destinations must be part of one consecutive journey. Your journey is generally considered complete when you come back to Australia. You can get cover for single trips that last anywhere from one to 540 days.

The other major difference between single and annual travel insurance is the treatment of pre-existing conditions. Most travel insurers won't offer annual policies to those who declare that they have a pre-existing condition. Aside from the two instances above, the cover offered by annual travel insurance is similar to what you would generally be covered for by a single trip comprehensive policy.

Questions about multi-trip travel insurance and what it covers

• Does annual travel insurance cover medical costs? Yes. Most annual travel insurance policies provide cover for overseas medical expenses. These expenses may include:
  • Cost of surgery
  • Dental costs
  • Money for purchasing medicines and prescription drugs

  • Fees charged by hospitals or clinics for treatment
  • Doctor’s and surgeon’s fees

• Does multi-trip insurance cover expenses due to travel delays? Most travel insurance policies cover you for cancelled trips as well as delayed or interrupted trips.
• What happens if I have to cancel my trip? In many cases, you can get the entire cost of a trip refunded if the trip was cancelled due to an unexpected event such as a serious injury, illness or death in the family.

• What if my flight is cancelled and the next available flight isn't until the next day? The costs for incidental expenses are generally covered, such as additional accommodation and meals.

• What happens if I lose my baggage? Annual travel insurance generally provides cover for lost luggage. The amount of cover varies from insurer to insurer, and it's always important to check the policy limits and sub-limits.

• Do I have cover for the loss of valuable items? Personal effects cover ensures you will be reimbursed for the cost of replacing valuable items that are lost or stolen on your trip. Typical items to cover include:
  • Laptops
  • Cameras
  • Sporting goods

  • Mobile phones
  • Jewellery

• Does the policy cover additional accommodation expenses? Annual multi-trip policies generally provide cover for accommodation expenses incurred if you are unable to travel due to a variety of reasons.
• How long can I travel for? It depends on the policy, but annual travel insurance policies normally cover you for single trips between 30 and 90 days.
• Do annual policies cover both international and domestic travel? Not all insurers offer annual travel insurance that covers both domestic and international travel.
• Are there annual domestic policies? Yes. Many of the insurers listed above do offer annual domestic travel insurance policies. However, these domestic policies require that you travel a minimum distance from your home before they will provide you with cover.
• If I have an annual policy, do I have to take out a separate policy for each trip I take overseas? No. Each separate trip will be covered under the single policy.

What isn't covered?

Each insurer has its own set of exclusions. You should be able to find these exclusions outlined in the annual travel insurance PDS. Typical multi-trip travel insurance exclusions include:

• If the country you're planning to visit has a 'do not travel' warning, DO NOT TRAVEL. The Australian Government issues advisories for a reason. If you choose to travel to these countries and ignore these warnings, your insurance will be invalid.
• Loss of personal property and valuables due to negligence. If your loss was a result of negligence, your insurance will not cover you. This includes leaving your luggage or valuables unattended or leaving your hotel room unlocked.
• Extreme or dangerous activities. If you are injured due to participation in extreme sports or other dangerous activities such as paragliding or base jumping, your medical expenses will not be covered by your annual travel insurance provider.
• Claims related to drug or alcohol consumption. Any claim that is the direct result of alcohol or drugs will not be covered by your annual travel insurance policy.
• Illness or injury from pre-existing conditions. Failure to disclose details of previous injuries may lead to your policy being rejected in the event of a claim that is related to the previous injury.
• Elective surgery. Generally, you're not covered for any elective medical, dental, surgical or cosmetic procedure. However, there are now some providers that offer cover for overseas dental surgery.
• Unlawful activity. You're not covered for any claim that is the result of an unlawful act.
• Mental illness. Insurers will generally not pay claims arising from mental stress, anxiety or depression.
• Sexually transmitted diseases (STD). Cover is not provided for STDs, infections or viruses.
• Pregnancy. Insurers generally do not provide cover for pregnancy or childbirth complications.
• Paid work. Cover will not be provided for any injury sustained while carrying out paid work overseas. Compensation should be sought from the employer in these circumstances.
• Motorcycling. Your travel insurance will generally cover you if you ride a motorbike overseas. However, this will depend on the engine capacity of the bike and whether or not you have a valid motorbike licence.

How do I know if this cover is right for me?

Before you buy an annual travel insurance policy, ask yourself the following questions:

• Am I getting value for money? What you pay for your annual travel insurance premium is more than you would pay for a single trip policy. Or two. Or three. You get the idea. When assessing value for money, it all comes down to personal circumstances. Work out how much you would pay per single trip versus annual travel insurance. There is also the convenience [read: laziness] coefficient to consider.
• Do I often have to travel without much notice? If you have to travel without much notice, annual travel insurance may be a suitable option. Not only does it provide peace of mind, it takes one less task out of your travel preparation.
• Do I have any pre-existing conditions? Annual frequent travel insurance may not be the best option if you have a pre-existing medical condition. Insurers are reluctant to underwrite people with pre-existing conditions for annual travel insurance policies, which is why a single trip policy may be a more suitable option.
• How many trips am I going to take in the next year? Annual travel insurance is cost-effective for those who travel often. You need to factor in the cost of the policy and the number of trips you'll be taking over the next year. Once you have done that, you'll be able to know if you're getting value for money.
• How long are these trips going to be? Most annual policies cap the length of a single trip somewhere between 30 and 90 days. If your trip is going to exceed this length of time, you'll need a single trip policy.
• Does it suit my cover needs? Most annual travel insurance policies do not cover people who are over the age of 65. It's important to compare travel insurance policies from various insurance providers so that you can pick a policy that provides the best scope for all your trips.

How do I compare policies?

Once you have quotes for a range of multi-trip travel insurance policies, you should review the features of the policy, including:

• What are the benefits of the policy? This is the most critical component of the policy and will detail events that the insurer will provide cover for and for how much.
• What are the policy exclusions? Each policy will feature a range of exclusions for events where a benefit will not be paid. It's critical to review each of these closely to avoid any surprises at claim time.
• Is there a cooling-off period? All policies have a cooling-off period, which gives you the freedom to cancel your policy within a certain period of time if you change your mind. This period is usually between 14 and 30 days and can only be exercised if you have not already commenced your trip.
• Does it provide an adequate level of cover? Look at important features such as overseas medical expenses. A comprehensive policy will generally offer unlimited cover in these events.
• Can I get a single or family policy? Most single policies will cover up to one extra child or grandchild, while a family policy will cover spouse or de facto partner and accompanying children or grandchildren.
• Is the destination covered? It's critical to review what countries your insurer covers. For domestic trips, your insurer will usually require you to travel more than 250km from your home.
• How long is cover in place? The limit on the number of days that can be travelled can vary greatly between providers, so it's essential to compare what is available. There is usually no limit on the number of trips that can be taken, but the number of days for each trip can be limited to anywhere from 30 to 90.
• What is the insurer's claim procedure like? Review the insurer's claim procedure to find out what steps will need to be taken for claims both in Australia and abroad. Find out what documentation may be required for a claim, such as:
  • Original dental or medical certificates
  • Police reports
  • Original proof of ownership of valuable items insured including receipts, invoicing or packaging
  • Copy of your travel itinerary
  • Airline, bus, train and other transportation tickets
  • Luggage tags
  • Any court documents or other documents related to the claim
• Does the policy have a high excess? The excess is the amount the insurer will charge in order for a claim to be processed. The excess can vary greatly between insurers, and some offer policies with excess eliminators. A reduced excess will usually mean increased premiums.

Multi-trip travel insurance FAQ

• Question: How long can each trip last? Answer: While annual travel insurance policies do provide cover for a 12-month period, the individual trip durations are normally limited between 30 to 90 days.
• Question: How many single trips can I make in one year? Answer: You can make an unlimited amount of trips on a single policy as long as they do not exceed the maximum single trip length.
• Question: Can I buy annual travel insurance if I'm a senior? Answer: Another drawback of annual travel insurance is that the maximum age someone can take out cover is lower than that of a stand-alone policy.
• Question: I have a pre-existing condition, can I get cover with an annual travel insurance policy? Answer: Some insurers do not offer annual travel insurance policies if you have a pre-existing condition. They are more likely to cover you with a single trip policy.
• Question: Does annual travel insurance cover domestic travel? Answer: If any part of your travel is domestic, you will need to check that domestic travel is covered by your policy. Some insurers DO NOT cover domestic travel as part of their annual travel insurance policies.
• Question: What destination do I select? Answer: Some insurers allow you to select a blanket annual policy that offers a worldwide destination option. Other insurers allow you to pick specific regions and the region you select affects the cost of your policy. If you're going to multiple regions, such as Asia, Europe and the Americas, you need to select the Americas as the destination as it is the highest level of cover.
• Question: Can I get a family annual travel insurance policy? Answer: Yes, there are some insurers that offer annual travel insurance policies for families.
• Question: If I have a family annual travel insurance policy, am I covered if I travel alone? Answer: It will depend on your provider. However, as long as you're named on the Certificate of Insurance you'll generally be covered if you travel separately.
• Question: Can I get annual group insurance? Answer: Annual cover is usually not available for groups. If you're planning on travelling in a group, you’ll need to opt for a single trip policy.
• Question: Can I add cover to my annual travel insurance policy? Answer: You may require additional cover for individual trips. For example winter sports cover isn't necessarily included in an annual policy.
• Question: I am going to multiple destinations on my next trip. Do I need an annual multi-trip policy? Answer: No. You can get cover for multiple destinations on a standard single trip policy, as long as all the destinations are part of one overall journey. There are long term travel insurance policies that cover single trip journeys of up to 540 days. You generally need the annual policy if you will be returning to Australia between trips.

Weighing up the benefits and drawbacks of annual cover

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If travel you travel a lot for work or pleasure, it's worth seeing whether an annual travel insurance can save you money. Use the comparison tool at the top of the page to compare your options and find the right cover today.

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