Best Annual Multi-Trip Insurance
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Like to get away more than once a year? A good way to ensure you’re financially protected should you fall ill, lose your luggage or need to cancel, is to take out annual multi-trip insurance. These policies last for 12 months and cover all the trips you take during that time. The real benefit with an annual multi-trip policy is that you can even travel spontaneously without having to worry about arranging a policy at short notice.
We’ve scoured the market (July 2022) to uncover what we believe are the best 10 policies on the market for families travelling to Europe. If your trip is further afield, you’ll also find our top pick for worldwide cover and worldwide cover excluding the US, Canada, Mexico and the Caribbean, below.
All policies offer at least £2 million for medical and repatriation, £2,000 for trip cancellation and £1,500 for loss or theft of baggage and belongings, as recommended by the MoneyHelper. They also include cancellation and medical cover for Covid-related risks. However, exclusions and limitations on cover differ between policies so check before purchasing.
- Find the best annual multi-trip travel insurance
- Methodology
- What are the best deals for annual travel insurance by destination?
- Do I need annual travel insurance?
- What is annual travel insurance for Europe?
- What other types of annual travel insurance are there?
- How many people does annual travel insurance cover?
- What’s included under annual travel insurance cover?
- Can I add extras onto my annual travel insurance policy?
- What does annual travel insurance exclude?
- What are the rules for travel from the UK?
- What are the rules for returning to the UK?
Find the best annual multi-trip travel insurance
Methodology
Using data from our travel insurance partner CYTI (February 2022), we analysed annual multi trip policies that offer at least £2 million for medical and repatriation and £2,000 for trip cancellation, which extend to Covid-related risks, and £1,500 for loss or theft of baggage and belongings, as recommended by the UK government’s Money Helper.
We scored each policy across the following data points:
Price: We awarded policies points on a scale of one to five. Those offering more competitive prices scored more points.
Maximum trip days: We awarded policies points on a scale of one to five. Those permitting longer trips scored more points.
Excess: (a set amount that you must pay on each claim): We awarded policies points on a scale of one to five. Those levying a lower excess on medical claims earned more points.
Excess waiver: We awarded policies five points if they offered the option for policyholders to waive the excess levied on claims by paying an additional premium (that is, paying more towards the cost of the policy).
The scores for each policy were totalled, with special weighting added to price, excess, and the option to waive the excess. We converted the totals to Forbes Advisor star ratings.
Any policies with matching scores were ranked based on price.
What are the best deals for annual travel insurance by destination?
The price of your annual policy will be determined by a number of factors, a crucial one being the country you are planning on travelling to.
Below we’ve listed the minimum you are likely to pay for your annual policy, and the average policy price, based on where you are going in the world.
Do I need annual travel insurance?
Travel insurance itself is a holiday essential as it will ensure you are financially protected if something goes wrong.
While European Health Insurance Cards (EHICs), now being phased out for Global Health Insurance Cards (GHICs), will provide state medical treatment on the same terms as a local, neither card is a substitute for travel insurance.
The NHS advises you have both a GHIC and travel insurance policy that includes healthcare in place before you travel.
But whether or not annual travel cover is right for you will depend on how often you travel. If you’re a regular traveller, annual cover is likely to be the most cost-effective, but if you only plan to take a holiday once or twice a year, you may find single trip cover is the better option.
What is annual travel insurance for Europe?
Annual or ‘multi-trip’ travel insurance is designed for those who plan to take more than two holidays or business trips a year in Europe.
It provides cover for multiple trips to multiple destinations across a 12-month period, which means, unlike single trip travel insurance, you don’t need to worry about buying cover every time you go away.
Annual travel insurance will generally cost more than single trip travel insurance, but the more you travel, the more cost-effective it becomes.
Note that different insurers include different destinations in their Europe policies. For example, some include countries such as Turkey, Egypt, Tunisia and Morocco, but others are more restrictive, only offering cover to such destinations on their Worldwide policies.
Note also that there will be a time-limit on the duration of any one trip during the 12-month insured period. This would typically be 30 or 60 days.
What other types of annual travel insurance are there?
Other than Europe, you can also choose cover for:
- Worldwide
- Worldwide excluding US, Canada, Mexico and the Caribbean (some policies do not exclude Mexico)
Because of this, you’ll need to have a good idea of where you plan to visit each year before buying cover.
On a like for like basis, Worldwide cover is generally more expensive than European cover, but you should check your insurer’s list of insured destinations to ensure the country you’re travelling to is included on the policy you are looking to buy.
Note, too, that while you’ll be covered to travel to different destinations, each individual trip length will have a limit. This is usually around 30 days but can be up to 90, depending on the policy.
How many people does annual travel insurance cover?
You can buy annual travel insurance whether you’re travelling as an individual, a couple, a family or a group.
A family or group policy usually works out cheaper than buying separate cover for different individuals, but always compare prices to check.
The usual limit on group size may be 8, 10 or 12.
What’s included under annual travel insurance cover?
Annual travel insurance typically covers the following as standard:
- medical expenses (£1 million in Europe and £2 million worldwide or more)
- personal liability (£2 million or more)
- cancellation, curtailment and missed departures (£2,000 or more)
- baggage and personal belongings (£1,500 or more).
The above cover levels are as suggested by the MoneyHelper, but the amount of cover you get will depend on the type of policy.
There are usually different levels of annual travel insurance, with the highest level potentially offering as much as £15 million for medical expenses, £5,000 for cancellation cover, and £2 million for personal liability.
Note, however, that the higher the level of cover, the more expensive the policy will be.
Can I add extras onto my annual travel insurance policy?
As well as the above cover, you can also choose from a range of optional extras for an additional cost – although some more comprehensive policies may include these as standard. Extras typically include:
- Travel delay: offers an inconvenience benefit up to a pre-specified amount if your booked outward or return journey is delayed for a set period of time (typically 12 hours) after checking in
- Missed departure: covers the cost of additional accommodation and travel should an emergency cause you to miss your departure journey
- Scheduled airline failure: protects you if the airline you’ve booked with goes bankrupt
- End supplier failure: protects you if a hotel, travel company or airline goes into administration
- Loss of passport: helps cover the cost of replacing your passport and travel documentation, if they are lost or stolen
- Personal money: the amount you can claim if your money is lost or stolen
- Personal accident: covers an accident resulting in personal injury or death
- Legal expenses: covers legal fees for an incident that wasn’t your fault
- Hospital benefit: covers the cost of necessities such as food while you are in hospital
- Gadget cover: pays out if items such as your laptop or mobile are lost or stolen.
What does annual travel insurance exclude?
As with any insurance policy, it’s crucial to check the terms and conditions carefully so that you’re aware of any exclusions. You will usually find you won’t be covered for:
- medical treatment for pre-existing conditions
- high-risk and winter sports such as skydiving, bungee jumping, skiing and snowboarding (additional cover will be required)
- incidents that happened when you were under influence of alcohol or drugs
- intentionally causing yourself or someone else harm
- claims resulting from not getting the vaccinations needed for your trip
- travel to a destination where the Foreign and Commonwealth Development Office has advised against all but essential travel (for example, due to political unrest, war or the threat of terrorism).
What are the rules for travel from the UK?
The Foreign & Commonwealth Development Office (FCDO) states which countries are safe to visit based on a range of factors such as the threat of terrorism or political unrest.
Few insurers will cover you for travel against FCDO advice. Remember to regularly check for updates from the FCDO as well as from the countries you are visiting.
What are the rules for returning to the UK?
As of 18 March 2022, both vaccinated and unvaccinated travellers arriving in or returning to the UK will not need to take any form of Covid test, complete a passenger locator form or quarantine.
The requirements for returning to Wales, Scotland and Northern Ireland can be found at gov.uk.
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