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.
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
Cheap picks selected by Gary Ross Hunter – insurance and innovations editor at Finder
Cheap comprehensive: Travel Insurance Saver Annual Multi Trip
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.
Finder's insurance and innovations editor looked at 45 annual travel insurance policies available on the Finder engine and a handful of other well known brands including CoverMore and Medibank. Travel Insurance Saver offered the cheapest comprehensive policy for 5 different annual multi trips:
Bali, USA, New Zealand
Bali, Japan, New Zealand
Bali, Japan, South Korea, New Zealand
Bali, Italy, France, New Zealand
Bali, Thailand, New Zealand
Cheap basic: Insure4Less Annual Multi Trip Essentials
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.
Our insurance and innovations editor picked Insure4less because it's typically the cheapest annual multi trip policy in the Finder database. Insure4less offered the cheapest basic policy for 5 different annual multi trips:
Bali, USA, New Zealand
Bali, Japan, New Zealand
Bali, Japan, South Korea, New Zealand
Bali, Italy, France, New Zealand
Bali, Thailand, New Zealand
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 & duration
Policy cost
Bali - 7 days
$63
Japan - 45 days
$225
Canada - 45 days
$418
Italy, France, Germany - 21 days
$109
Total cost
$815
"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. "
It is important to note that the true value of an annual policy often depends on trip length. Data from CHOICE indicates that if you plan three or four overseas holidays, single trip policies are generally cheaper if your trips average two weeks or less. However, once your trips stretch beyond three weeks, multi trip insurance tends to offer better value. For those planning five trips, a multi trip policy becomes a better option for journeys exceeding 16 days (Source: CHOICE 2024).
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.
When comparing high level plans, you will often encounter the term unlimited overseas emergency medical cover. This is a critical inclusion for frequent travellers because it ensures that there is no financial cap on necessary hospital stays, surgeries or emergency medical evacuations while abroad. Major providers like 1Cover, Allianz, and Fast Cover typically include this as a standard feature in their comprehensive annual plans, providing peace of mind for those visiting regions with high healthcare costs like North America or Europe.
Our expert says
"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."
Choosing the right annual policy depends on your specific travel habits and existing memberships. Below is an analysis of how four major Australian providers stack up:
1Cover: Frequently recognised for its outstanding value, 1Cover is a strong choice for those who want flexible cancellation limits. Unlike many competitors, they allow you to choose your specific cancellation cover amount, which then applies to all covered medical conditions equally (Source: 1Cover 2025).
Medibank: This provider offers a significant advantage for existing health insurance members. Medibank and ahm health members can save 15% to 20% on their travel insurance premiums. They are also highly regarded for their specialised assessment process for travellers with pre-existing health conditions (Source: Medibank 2024).
Fast Cover: A standout feature for this provider is their Frequent Traveller Saver policy, which includes automatic cruise cover at no additional cost. This is particularly beneficial for travellers who plan to mix land based holidays with ocean or river cruises throughout the year (Source: Fast Cover 2025).
Allianz: Known for a vast global assistance network, Allianz is often recommended for families and those travelling to Europe. Their multi trip policies provide a robust safety net with 24/7 access to a worldwide team of medical specialists and multilingual assistance staff (Source: Allianz Australia).
Regional coverage and trip duration
When selecting an annual multi trip policy, you must consider regional variations and trip limits. Most insurers require you to select a coverage region, such as "Asia Pacific" or "Worldwide." If your year includes a mix of domestic and international travel, a worldwide policy will typically cover you for trips within Australia as well, provided you are a set distance from home (usually 100km to 250km) (Source: Cover-More).
It is also vital to check the maximum duration for any single journey. While the policy lasts 12 months, individual trips are usually capped at 15, 30, 45 or 60 days. If you plan one long adventure alongside several short ones, ensure your chosen plan accommodates your longest intended stay.
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.
Frequently asked questions about annual travel insurance
Annual multi trip travel insurance is a type of travel insurance policy that covers multiple trips over a 12 month period. It's also known as a multi-trip policy. It's made for people who go abroad more than once a year and can sometimes be cheaper and more convenient than taking out multiple single trip policies every time you travel.
Yes. Multi trip policies can give you cover for an unlimited number of trips in a year. It can sometimes be cheaper than buying multiple policies in a year and it's convenient as you don't have to get a new travel insurance policy every time you head overseas.
Travel insurance ranges from around $5 to $20 per day but prices can vary significantly depending on the length of your trip and where you travel. On average, a basic policy for a one week trip could cost between $30 and $150. It often becomes better value for money to take out annual travel insurance if you have more than 2 of 3 big trips planned in a year.
For sure. Business cover is usually included in an annual frequent travel insurance policy, which means it doesn't matter whether you are travelling for business or going on a holiday.
However, insurers usually won't pay any medical bills that are already covered by your employer's workers compensation policy. Some policies will also exclude manual labour from cover.
Just barely. The longest max-trip duration we've seen is 93 days from Travel Insuranz and Insure4less. If you're taking a single trip that's longer than that, you'll need to get a separate single trip policy for that trip.
Yes, multi-trip travel insurance is designed to cover multiple trips within a set period, typically a year. It is ideal for frequent travellers and eliminates the need for purchasing a new policy for each trip.
Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards.
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do any of these insurance company’s cover
pre-existing illness’s
Please advise which ones.?
Many thanks
David
Finder
ShirleyJune 20, 2014Finder
Hi David,
Thanks for your question.
Yes, there are a number of policies that cover pre-existing illnesses. You can find them on our guide to travel insurance brands that cover pre-existing conditions.
Please make sure to read the eligibility criteria, features, and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
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Domestic travel insurance can provide cover for trip cancellation (domestic flights), loss or damage to luggage and expensive items, car rental excess charges and much more. Find out why domestic travel insurance is worth getting and compare policies from Australian insurers.
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do any of these insurance company’s cover
pre-existing illness’s
Please advise which ones.?
Many thanks
David
Hi David,
Thanks for your question.
Yes, there are a number of policies that cover pre-existing illnesses. You can find them on our guide to travel insurance brands that cover pre-existing conditions.
Please make sure to read the eligibility criteria, features, and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
Cheers,
Shirley