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Annual travel insurance
Annual multi-trip travel insurance can be cheaper and more convenient than buying multiple policies. Compare quotes and get set up for an exciting year of travel.
Most annual policies cover overseas medical expenses, luggage and personal effects and cancellation fees.
Cheap annual travel insurance
Cheap picks selected by Gary Ross Hunter – insurance and innovations editor at Finder
Cheap comprehensive: Travel Insurance Saver Annual Multi Trip
It can cover you for up to 45 days per trip. The average is around 30 days.
It comes with COVID-19 cover. This includes unlimited medical expenses and rearrangement costs if you or someone you are travelling with catches the virus.
It comes with fairly high limits, most likely enough for multiple trips e.g. up to $12,000 for luggage, $10,000 for cancellations, $5,000 rental car excess insurance and unlimited travel delay expenses.
FastCover Traveller Saver comes with unlimited cancellation cover. Travel Insurance Saver has a $10,000 cap.
There are more comprehensive options, if you're willing to pay more. For example, FastCover and CoverMore have annual policies that all come with higher limits. These could be better for trips over $10,000.
Finder's insurance and innovations editor looked at 45 annual travel insurance policies available on the Finder engine and a handful of other well known brands including CoverMore and Medibank. Travel Insurance Saver offered the cheapest comprehensive policy for 5 different annual multi trips:
Bali, USA, New Zealand
Bali, Japan, New Zealand
Bali, Japan, South Korea, New Zealand
Bali, Italy, France, New Zealand
Bali, Thailand, New Zealand
Cheap basic: Insure4Less Annual Multi Trip Essentials
It's good if you want a very cheap policy covering medical only, including if you catch COVID-19.
Out of 45 annual multi trip policies, it was the cheapest available on Finder.
It really is a bare bones policy. It only covers medical expenses. It's no help if you need to cancel, rearrange or your luggage is delayed or lost.
It can cover you for up to 31 days per trip. If you have a longer trip planned, you should look elsewhere.
Our insurance and innovations editor picked Insure4less because it's typically the cheapest annual multi trip policy in the Finder database. Insure4less offered the cheapest basic policy for 5 different annual multi trips:
Bali, USA, New Zealand
Bali, Japan, New Zealand
Bali, Japan, South Korea, New Zealand
Bali, Italy, France, New Zealand
Bali, Thailand, New Zealand
Is it cheaper to buy annual travel insurance?
It's typically only cheaper to buy an annual travel insurance policy if you plan to go on a few big trips in the next 12 months. If you're only going away for around 2 weeks per trip, multiple single travel insurance policies are often cheaper.
For example, when we got quotes for an annual multi trip policy to multiple locations (Bali, Japan, Canada and Europe), the cheapest comprehensive policy was $399. It was $815 for multiple single travel insurance policies.
Here's a table showing the prices if you were to take out multiple single travel insurance policies, as opposed to taking out a multi trip travel insurance policy.
Location & duration
Policy cost
Bali - 7 days
$63
Japan - 45 days
$225
Canada - 45 days
$418
Italy, France, Germany - 21 days
$109
Total cost
$815
"I saved $500 getting an annual multi-trip policy. I had two big overseas trips planned, one a ski trip, and it was cheaper to get an annual policy instead of individual cover (this was for 2 people). And now I'm covered for the rest of the year too, including on domestic trips. "
Multi trip travel insurance covers all the same things as a single-trip policy. This means you can expect cover for:
Medical expenses including evacuation. If you get sick or injured while overseas, your policy will cover the cost of your ambulance, hospital bed, surgery fees and evacuation to the nearest hospital (or back to Australia if necessary). Most annual policies offer unlimited medical for international trips, which helps with peace of mind knowing you're covered no matter where you go.
Additional emergency expenses. This covers the additional travel and accommodation expenses related to emergencies outside of your control, like becoming medically unfit to travel or the unexpected death of a close relative back home. Most policies will also pay for someone in Australia to travel to you if you're hospitalised overseas.
Cancellation fees and lost deposits. This covers your non-refundable pre-paid travel expenses and any cancellation fees if you have to cancel your trip due to unexpected events outside of your control.
Luggage and personal belongings. Covers the repair or replacement costs for luggage and personal items that are lost, stolen or damaged during your trip. Some policies will pay you an emergency allowance to help you purchase essential clothing and toiletries if an airline temporarily misplaces your luggage.
Travel delay. This pays for unexpected meal and accommodation costs when your flight or other prepaid transportation is rescheduled or delayed for a significant amount of time.
Rental vehicle excess insurance. This brings down the unreasonably high excess car rental companies charge if you damage one of their cars. Some policies offer this for free. Others charge extra for it.
Cruise and Ski cover. Some annual travel insurance policies include cruise cover and ski cover in their policies. Benefits include onboard medical expenses, missed ports, cabin confinement and more.
Personal liability. This pays your legal fees and penalties if you accidentally injure someone or damage their property while travelling.
Our expert says
"At first annual travel insurance might seem like a bit of an upfront cost, but if you have a couple of big trips planned in the next 12 months (it looks like many of us do – there's been a 50% increase in departures compared to this time last year) then it's often cheaper than buying multiple individual policies."
All policies have a list of exclusions, which outlines what your policy won't cover and what situations will void your policy. These include if:
You're travelling somewhere there's a travel warning. The Australian Government issues advisories for a reason. If you choose to travel to a do not travel country and ignore these warnings, your insurance will be invalid.
You don't take care of your belongings. Your insurer won't pay for lost items if you weren't careful with them. This includes leaving your luggage or valuables unattended or leaving your hotel room unlocked.
You're taking part in extreme or dangerous activities. Most policies won't cover extreme sports or other dangerous activities such as base jumping or mountaineering.
You were acting recklessly. Your insurer can deny your claim if it finds you were acting recklessly at the time. This can include being drunk, being high, breaking the law or putting yourself in harm's way.
Illness or injury from pre-existing conditions. If you fail to disclose any pre-existing conditions, your insurer could deny medical claims if they think the new injury or illness is related.
You're pregnant. Most policies will not cover childbirth at all and they'll stop covering you if you're pregnant at around 30 weeks. However, they will cover all unrelated medical conditions like a broken wrist for the duration of the trip.
Frequently asked questions about annual travel insurance
Annual multi trip travel insurance is a type of travel insurance policy that covers multiple trips over a 12 month period. It's also known as a multi-trip policy. It's made for people who go abroad more than once a year and can sometimes be cheaper and more convenient than taking out multiple single trip policies every time you travel.
Yes. Multi trip policies can give you cover for an unlimited number of trips in a year. It can sometimes be cheaper than buying multiple policies in a year and it's convenient as you don't have to get a new travel insurance policy every time you head overseas.
Travel insurance ranges from around $5 to $20 per day but prices can vary significantly depending on the length of your trip and where you travel. On average, a basic policy for a one week trip could cost between $30 and $150. It often becomes better value for money to take out annual travel insurance if you have more than 2 of 3 big trips planned in a year.
For sure. Business cover is usually included in an annual frequent travel insurance policy, which means it doesn't matter whether you are travelling for business or going on a holiday.
However, insurers usually won't pay any medical bills that are already covered by your employer's workers compensation policy. Some policies will also exclude manual labour from cover.
Just barely. The longest max-trip duration we've seen is 93 days from Travel Insuranz and Insure4less. If you're taking a single trip that's longer than that, you'll need to get a separate single trip policy for that trip.
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To make sure you get accurate and helpful information, this guide has been edited by Joelle Grubb as part of our fact-checking process.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
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Gary Ross has written 664 Finder guides across topics including:
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I travel to Europe for pleasure typically from
Apr-Oct each year..sometimes stopping off in Asia on the way. What is the best insurance to cover me for this length of time? I do not always book my trip originating from Australia…sometimes it can originate from Europe. My partner is not an Australian resident (European).
Finder
JoanneJanuary 12, 2018Finder
Hi Des,
Thanks for reaching out.
Here at finder we are unable to give recommendations, we can offer general advise.
The page you visited is accurate as it will allow you to compare qoutes between insurers. You just need to enter you details and all the destinations you will be going to and from there you can receive qoutes.
While annual travel insurance covers an unlimited number of trips, there is a limit to the maximum duration of each individual trip. This limit varies from one insurer to the next, but you’ll often have several options to choose from. For example, you may be able to choose a maximum individual trip limit of 30, 60 or 90 days.
It would be best to check on the level of cover first and contact the insurer you are interested in to make sure all your questions are answered that way you select the insurance that would suit you best.
Cheers,
Joanne
Jean83October 27, 2015
I want to find a combined annual multi trip policy for myself and my husband. But we won’t be travelling on all the same trips throughout the year. Please can you tell me which policies cover this? I know there are some that do,I just don’t know which ones.
Finder
RichardOctober 27, 2015Finder
Hi Jean83,
Thanks for your question. GoInsurance provide this cover only on the Go Plus level of cover. With 1Cover you are able to put two adults on an annual policy as it allows cover for you both individually. However, you must travel together for more than 75% of your trips and not exceed 90 days for a single trip.
This is in no way a comprehensive list of the cover options available nor is it an endorsement of these products. You should carefully consider your needs and review the product prior to making a decision.
I hope this was helpful,
Richard
PaulAugust 5, 2015
My daughter is going to South America only, from 14/08 to 15/11 (95 days?).What are her travel insurance options.??
Finder
RichardAugust 6, 2015Finder
Hi Paul,
Thanks for your question.
If you would like to compare your daughter’s travel insurance options, please enter her travel details into the travel insurance quote generator. Select ‘Go to Site’ to head over to their website to apply.
Please make sure to read the eligibility criteria, features, and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
I hope this was helpful,
Richard
sunnyJuly 3, 2015
does multi trip travel insurance cover worldwide destination, not a particular country?
Finder
RichardJuly 4, 2015Finder
Hi Sunny,
Thanks for your question. Annual travel insurance covers you for world-wide travel. However, when selecting a policy you’ll need to choose a particular destination or region. You will need to select the highest region that applies to the area you’re travelling to, as this will ensure you’re covered by the policy in the event you need to make a claim.
I hope this was helpful,
Richard
CsabaMay 26, 2015
My husband and I are missionaries and traveling during the year. Most of the times we spend more than 3 months in one country. What kind of annual multiple trip traveling insurance can you offer to us?
Finder
RichardMay 26, 2015Finder
Hi Csaba,
Thanks for your question. finder.com.au is a comparison service and not an insurer. Unfortunately, there is only one provider in our panel that provides cover on an annual policy of more than 90 days, Travel Insuranz, and even then it is only 93 days.
If you are unable to find an annual policy that will cover extended periods, it may be best to just take out a single trip policy if you are only going to be travelling back and forth to the same country. If you take a standard single trip policy for a 12 month period, but plan to return home briefly in the middle of your trip, provided you have not returned early and made a claim on the insurance, you may be able to have continuous cover whilst overseas. Remember that you will not be insured whilst in your home country. You may also want to consider a backpackers travel insurance policy if you are planning on going to multiple countries.
I hope this was helpful,
Richard
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I travel to Europe for pleasure typically from
Apr-Oct each year..sometimes stopping off in Asia on the way. What is the best insurance to cover me for this length of time? I do not always book my trip originating from Australia…sometimes it can originate from Europe. My partner is not an Australian resident (European).
Hi Des,
Thanks for reaching out.
Here at finder we are unable to give recommendations, we can offer general advise.
The page you visited is accurate as it will allow you to compare qoutes between insurers. You just need to enter you details and all the destinations you will be going to and from there you can receive qoutes.
While annual travel insurance covers an unlimited number of trips, there is a limit to the maximum duration of each individual trip. This limit varies from one insurer to the next, but you’ll often have several options to choose from. For example, you may be able to choose a maximum individual trip limit of 30, 60 or 90 days.
It would be best to check on the level of cover first and contact the insurer you are interested in to make sure all your questions are answered that way you select the insurance that would suit you best.
Cheers,
Joanne
I want to find a combined annual multi trip policy for myself and my husband. But we won’t be travelling on all the same trips throughout the year. Please can you tell me which policies cover this? I know there are some that do,I just don’t know which ones.
Hi Jean83,
Thanks for your question. GoInsurance provide this cover only on the Go Plus level of cover. With 1Cover you are able to put two adults on an annual policy as it allows cover for you both individually. However, you must travel together for more than 75% of your trips and not exceed 90 days for a single trip.
This is in no way a comprehensive list of the cover options available nor is it an endorsement of these products. You should carefully consider your needs and review the product prior to making a decision.
I hope this was helpful,
Richard
My daughter is going to South America only, from 14/08 to 15/11 (95 days?).What are her travel insurance options.??
Hi Paul,
Thanks for your question.
If you would like to compare your daughter’s travel insurance options, please enter her travel details into the travel insurance quote generator. Select ‘Go to Site’ to head over to their website to apply.
Please make sure to read the eligibility criteria, features, and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.
I hope this was helpful,
Richard
does multi trip travel insurance cover worldwide destination, not a particular country?
Hi Sunny,
Thanks for your question. Annual travel insurance covers you for world-wide travel. However, when selecting a policy you’ll need to choose a particular destination or region. You will need to select the highest region that applies to the area you’re travelling to, as this will ensure you’re covered by the policy in the event you need to make a claim.
I hope this was helpful,
Richard
My husband and I are missionaries and traveling during the year. Most of the times we spend more than 3 months in one country. What kind of annual multiple trip traveling insurance can you offer to us?
Hi Csaba,
Thanks for your question. finder.com.au is a comparison service and not an insurer. Unfortunately, there is only one provider in our panel that provides cover on an annual policy of more than 90 days, Travel Insuranz, and even then it is only 93 days.
If you are unable to find an annual policy that will cover extended periods, it may be best to just take out a single trip policy if you are only going to be travelling back and forth to the same country. If you take a standard single trip policy for a 12 month period, but plan to return home briefly in the middle of your trip, provided you have not returned early and made a claim on the insurance, you may be able to have continuous cover whilst overseas. Remember that you will not be insured whilst in your home country. You may also want to consider a backpackers travel insurance policy if you are planning on going to multiple countries.
I hope this was helpful,
Richard