Advantages/Disadvantages of Annual Policies

[peacefulsiren]

We plan on two cruises a year and wanted to investigate annual versus per trip policies. I have one policy for our trip for this year, because I didn't know any better but for 2023 and 2024 I wish to get ahead of this. Any direction/advice/websites to look at? 

[Babr]

Annual policies are primarily for medical coverage. Some offer no travel benefits at all. Others limit them to fairly low levels. If that is not important to you, then look at Allianz or GeoBlue.

[iamtrustworthy]

3 hours ago, peacefulsiren said:

We plan on two cruises a year and wanted to investigate annual versus per trip policies. I have one policy for our trip for this year, because I didn't know any better but for 2023 and 2024 I wish to get ahead of this. Any direction/advice/websites to look at? 

Hi peacefulsiren,

 

It's likely not worth getting and annual plan for just two trips a year since you are getting less coverage on relatively important coverages.

 

Steve Dasseos

[peacefulsiren]

Thanks for replying - I appreciate it. 

[cayman09]

On 12/5/2022 at 12:05 PM, iamtrustworthy said:

It's likely not worth getting and annual plan for just two trips a year since you are getting less coverage on relatively important coverages.

 

Steve Dasseos

Can you expand on your reply? How much less coverage and on which important coverages?

[Babr]

17 minutes ago, cayman09 said:

Can you expand on your reply? How much less coverage and on which important coverages?

In some cases you will not have any coverage for cancellation, trip interruption, or delay. Other policies that do cover travel risks limit coverage. Allianz caps out at $15,000 per year.

 

The medical coverage itself is fine. It is the only reason to buy such a plan.