When to Consider Annual Travel Insurance

Purchasing travel insurance is a choice every traveler has to make. Whether to fork over extra cash for a policy you might not need or whether to save money for the trip itself is a dilemma that plagues travelers when sitting idle on the flight’s check-out page. For once-a-year voyagers, it might be a questionable expense, but for those who fly to faraway lands multiple times per year, annual travel insurance may be a necessary option to consider.

Purchasing one-policy travel insurance can cover any and all trips for up to one year. Insurance companies recommend the policy for those who take a minimum of three trips per year, as this is when the benefits begin to outweigh the costs.

Annual travel insurance plans can vary but most cover basic medical expenses including emergency evacuation, refunds for unexpected travel-related delays and coverage for rental cars.

An annual travel insurance policy can come in handy for frequent travelers as it is one less thing to plan for or worry about when taking last-minute trips. The price for one annual insurance policy may be less than purchasing individual policies for each trip, if multiple trips are taken each year. Prices for annual policies can start as low as $125 for a basic tier of coverage and can cost up to $500 for top-tier coverage.