Annual Trip Insurance Policy

[Grumpella]

I am looking to buy an annual trip insurance policy that covers trip cancellation, etc..

 

The insurance store does not have annual policies that cover trip cancellation.

 

Does anyone have any suggestions?  I have called a few already, but so far I have found that the trip cancellation amount is for the policy, not the trip, so basically only covers 1 trip per year.

 

Thank you in advance for your help.

[smokeybandit]

You can get higher trip cancellation benefits, but just compare that price against the cost of individual trip plans. It might not be that economical.

[ssb]

Allianz - world wide underwriter   has annual policies .

We have used for multiple years .

One simple claim no issues . 

 

Edited June 26, 2023 by ssb

[Tlbecker1]

15 minutes ago, ssb said:

Allianz - world wide underwriter   has annual policies .

We have used for multiple years .

One simple claim no issues . 

 

We also use Allianz, affordable piece of mind.

[CruisingHogFan]

The only issue I have with Allianz annual is the medical and emergency transportation is really low compared to their individual plans.
 

I can buy 4 individual plans per year for what an annual cost and have better way better coverage.

[Rackham]

Are you looking for "Cancel for Any Reason" as part of an annual policy (trip cancellation coverage is very, very standard)? I don't think I've seen that offered anywhere due to the economics behind underwriting this situation.

[Jersey42]

3 hours ago, Grumpella said:

I am looking to buy an annual trip insurance policy that covers trip cancellation, etc..

 

The insurance store does not have annual policies that cover trip cancellation.

 

Does anyone have any suggestions?  I have called a few already, but so far I have found that the trip cancellation amount is for the policy, not the trip, so basically only covers 1 trip per year.

 

Thank you in advance for your help.

Annual comprehensive travel insurance plans do not offer the same coverage as purchasing plans for each trip.  They do not work well for us and I suspect they are not a good choice for many people.  That said, there are situations where they can be a good value.  A typical scenario where the annual plans can work well is:

• you take a lot of relatively inexpensive trips,
• have no pre-existing conditions and
• have good medical coverage outside of the US (even with a big annual deductible) 

 

Below is a link to a previous post with more details.

 

By the way Allianz comes up a lot on CC.  They offer four different annual plans and some of the plans let you choose the cancelation/interruption benefit.  The maximum available benefits for key coverages include:

• $50K medical per person per trip.  Not enough in my opinion unless you have other medical coverage.
• Medical coverage is secondary.  Can work for some.  Poor choice for others.
• $15K cancelation/interruption per policy per year.  A policy often has two people on it.  Another policy offers $10K per person per year. Once you reach the maximum, you can not purchase additional coverage until the following annual period.  By that time it is often too late to purchase a trip specific plan and still get a pre-existing conditions waiver. 
• $500K in medical evacuation per person per trip.  Probably more than adequate in any situation.

 

These benefits are pretty much the best you will find in an annual comprehensive travel insurance plan.

n 

Edited June 26, 2023 by Jersey42

[leishirsute]

On 6/26/2023 at 4:51 PM, Rackham said:

Are you looking for "Cancel for Any Reason" as part of an annual policy (trip cancellation coverage is very, very standard)? I don't think I've seen that offered anywhere due to the economics behind underwriting this situation.

I have searched and can't find one. That makes me wonder what happens when wanting to return or cancel due to a death in the family of a non-traveling member of the family.  Do we have to eat the cost of the trip with these annual policies?

 

On my prior Viking cruise that had a port stop scheduled for Jerusalem, it was rerouted to Malta instead.  The cruise had several booking cancellations that did not want to opt for the reroute to Malta.  Viking's included insurance covered that cancellation by giving credit towards another cruise.  As far as I can determine, an annual travel insurance plan would not have covered that reason.

Edited January 15 by leishirsute

[pghflyer]

I have purchased Travel Insured and was satisfied with it (they covered a trip delay very easily).  The base plan is very cheap, but you can top up / add more coverage for each trip....these add ons are more costly.

 

https://www.travelinsured.com/