If you are a frequent traveler, you may not be worried about trip cancellations, delays or trip interruptions. In this case, you may want to consider the benefits of an annual travel insurance plan. These plans, available on InsureMyTrip.com, are referred to as both “annual” as well as “multi-trip”.
There are several types of plans that offer annual coverage. First, there are travel medical plans that cover you while you’re traveling internationally during the year. Primary medical coverage is required to be in place to be eligible for the multi-trip medical plans, and it’s also important to note the maximum allowed length per trip.
Second, there are annual emergency evacuation memberships that cover you as long as you’re traveling more than a certain distance away from home (usually 50-150 miles depending on the plan). Finally, some of the accidental death plans offer an optional multi-trip coverage.
When would I consider an annual plan?
Sometimes travelers are confused about what type of trip schedule can quality for an annual plan. Essentially, you would want to consider this type of plan if you have multiple trips scheduled over a period of a year. You must return to your home between the trips.
A single trip to multiple destinations in Europe, for instance, does not qualify a traveler for an annual plan. However, if you are returning home for a stint, then departing on another trip to multiple locations, you could consider an annual plan.
What type of coverage is included?
Most multi-trip annual plans focus primarily on travel medical and emergency evacuation coverage or emergency medical evacuation coverage only. This means that the standard coverages in comprehensive travel insurance plans are usually not included (trip cancellation, trip interruption and travel delay). Some annual, multi-trip plans do include limited baggage loss coverage – but not all.
If you are looking for accidental death coverage, you can purchase an Accidental Death & Dismemberment plan on a multi-trip basis. This is an elected option on some accidental death plans and would be an additional costto purchase.
Why is an annual plan a good option for frequent travelers?
Some frequent travelers don’t consider travel insurance as a necessity, but you know better. If you are traveling multiple times in the period of a year, you may be looking for travel protection to fit your specific needs. Those needs are most likely focused on emergency medical care while traveling abroad.
An annual plan is the perfect solution. It can offer limited protection for baggage loss as well as emergency medical and emergency medical evacuation coverage. When traveling overseas your primary medical plan may not cover you. An annual travel insurance plan can help to offset the costs of covered medical care needs.