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Annual travel policy versus single trip travel insurance


kandj05
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Have you looked at an annual policy versus single trip insurance policies? I am pretty confused which is better. My DH and I travel 2 - 3 times per year.

 

We currently do not need pre-existing conditions. My biggest concern is medical evacuation and needing a hospital overseas. How many people add trip cancellation for any reason?

 

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I am following this. I cruise 5-6 times a year and buy insurance each time. Ive used insure my trip to compare plans but am looking for a yearly plan that possibly includes pre existing and cancel for any reason. Either of these seem to be a deal breaker. Looking for more info or places to find this informatio.

 

 

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  • 1 month later...

I just did a quick review on squaremouth. Roam right came up with what we need for $384/year for 2 people, 49 and 51 yo. Medical evac 250,000, emergency medical 25,000 , as well as trip cancellation/interruption etc. (not covered for work reasons just medical reasons).

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Folks should carefully assess their own needs/wants versus their personal risk avoidance attitude. There just is no simple answer that fits all. We have been buying an annual travel medical (GeoBlue) for several years because it really fits our own travel pattern. We travel as much as 7 months a year and manage to keep our longest trips to 70 days. This is because our GeoBlue only covers the first 70 days of any trip (throughout the entire policy year). We have never felt the need to purchase trip cancellation insurance and have long been comfy "self insuring." At this point we figure we are ahead of the game by over $100,000 in terms of the money we have saved (over many years) by not purchasing cancellation insurance.

 

Recently we obtained a major credit card that includes $10,000 cancellation insurance as part of the card benefits. So between the GeoBlue policy and using that credit card we are feeling pretty good with our coverage. And by the way, that GeoBlue policy costs us about $450 a year (total cost for 2 persons) and gives us $250,000 of medical and $500,000 or evacuation.

 

We think annual policies do make a lot of sense for those of us who take many trips. One can easily evaluate the cost issue of annual versus individual trip policies.

 

Hank

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