You’ve just booked your trip, and now you’re looking at travel insurance. You’re about to buy a single-trip plan… and then you remember you have a few other trips coming up soon.

It might be smart to get one travel insurance plan that protects your adventures for the entire year. But is annual travel insurance really worth it? How do you know if it’s a good deal?

What is annual travel insurance?

An annual travel insurance plan protects every trip you take in a 365-day period, as long as your destination is 100+ miles from home. Some exclusions do apply, so check your plan documents for details.

Your plan can protect:

• International trips
• U.S. trips
• Cruises
• Vacation rentals
• Road trips
• Business travel
• Short getaways
• Long trips (up to the maximum trip length in your plan, which is 45 days for most plans and 90 days for AllTrips Premier)

What does annual travel insurance typically cover?

Coverage details vary from one plan to another, but the best annual travel insurance plans include protection for these common mishaps.

• Medical emergencies while you’re traveling: Emergency medical benefits can reimburse you for covered medical expenses in case of a covered illness or injury. Emergency transportation benefits can cover the cost of a medically necessary evacuation for a covered illness or injury.
• Unexpected cancellations and interruptions: Trip cancellation benefits and trip interruption benefits can reimburse your prepaid, non-refundable expenses if you have to cancel or cut short your trip due to a covered reason. Trip interruption benefits can also reimburse the extra transportation costs to return home early. (AllTrips Basic doesn’t include trip cancellation/interruption.)
• Baggage delay, lost, theft and damage: Baggage benefits can help in case your bags are stolen, or damaged or misplaced by your travel carrier. Baggage delay benefits can reimburse you for necessary, eligible purchases when your bags are delayed for a certain amount of time.
• Travel delays: Travel delay benefits are there to reimburse you for meals, accommodations and other covered expenses during a covered delay.
• Damage to or theft of a rental car: Rental car protection is a valuable part of your travel insurance plan. (Rental car coverage, when purchased as part of an annual plan, is not available for residents of all states.)
• Travel accidents: Travel accident benefits can pay you for covered losses due to death, loss of limb(s) or sight as a result of a covered travel accident.
• Plus help when you need it:  24-hour assistance provides expertise dealing with travel emergencies, while the concierge benefit can assist with travel planning and reservations.

Some plans include additional benefits, such as business equipment coverage, loyalty program redeposit fee coverage, and change fee coverage.

Is it worth paying extra for annual travel insurance?

Here’s a secret travel pros know: often, multi-trip insurance is cheaper than insuring several trips separately. You can check the numbers yourself by getting travel insurance quotes for single-trip and multi-trip plans.

(On the fence about buying travel insurance, period? Remember that it may well pay for itself: if you don’t have insurance, a medical emergency overseas or last-minute trip cancellation can cost you thousands.)

As a bonus, an annual travel insurance plan can save you a ton of money on rental car insurance. Each AllTrips plan includes up to $45,000 in rental car damage and theft coverage for no additional charge. (Rental car damage and theft coverage, when purchased as part of an annual plan, is not available to KS, TX, and NY residents. For WA residents, rental car damage and theft coverage may not be available in all plans. See your plan details for additional information.)

Compare that with the cost of purchasing a collision damage waiver from the rental car company, which can cost up to $40 per day.¹ In Europe, rental car insurance can be even more expensive. A basic collision damage waiver may cost $15-$30 per day. A “super CDW,” which has no deductible and protects the entire car (including tires, glass, and undercarriage) typically costs an additional $10-$30 per day.²

How much does annual travel insurance cost?

That depends on the plan you choose and the maximum limits on benefits. Unlike single-trip plans, the cost of annual travel insurance isn’t affected by the cost of your trip.

• A basic plan without trip interruption/cancellation benefits will be the cheapest annual travel insurance option. Get a quote for AllTrips Basic.
• An annual travel insurance plan with up to $3,000 in trip interruption/cancellation benefits (per person, per year) is an affordable option for solo travelers who aren’t taking any extravagant trips. Get a quote for AllTrips Prime.
• A plan with higher limits for emergency medical, trip interruption/cancellation, and other benefits will give you the best protection. AllTrips Executive includes perks for business travelers, while AllTrips Premier can protect entire households.

What are the other benefits of multi-trip travel insurance for frequent travelers?

• An annual plan protects the little trips that you wouldn’t normally insure. Quick weekend getaways, spontaneous road trips, and last-minute vacations all can be covered, as long as your destination is 100 miles or more from your home.
• Annual travel insurance safeguards every trip as soon as you book it. If you tend to procrastinate when buying travel insurance, an annual plan can give you peace of mind. Trip cancellation benefits begin on your plan’s effective date, as long as we receive your premium before you cancel your trip, and automatically apply to every trip you take while your plan is active.
• Easily access your benefits from your phone. The free Allyz® app makes it simple to contact Assistance, file a claim, check your benefits, and much more. If your AllTrips plan includes emergency medical benefits, you can use the app to book doctor appointments or receive virtual or in-person urgent medical care in over 100 countries and territories.

Is annual travel insurance worth it? It’s up to you to decide—but if you have a busy 12 months of travel coming up, we definitely recommend it. Discover why Allianz Partners is one of the top-rated companies for annual travel insurance, trusted by nearly 59 million American travelers each year. Get a quote.

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