Annual vs Single Trip Insurance Plans: Which is Right for You?

A single-trip travel insurance plan, like our Preferred Plan, gives you access to optional coverage add-ons that aren’t available with the Annual Plan. This includes popular coverages like the Pre-Existing Medical Conditions Exclusion Waiver, Rental Vehicle Damage Coverage, the Adventure Sports Bundle and the Medical Bundle (which is already included in the base coverage for our Deluxe Plan). These upgrades are especially beneficial when you’re traveling for long periods of time, planning to participate in adventurous or extreme activities, traveling with large groups, or simply want more coverage for your trip.

One of the major benefits to getting a single-trip travel insurance plan is trip cancellation coverage. If your travel plans get cancelled for certain reasons, like severe weather or illness while on the trip, you can file a claim for reimbursement of any covered pre-paid, non-refundable portions of your trip, subject to the terms and limitations of the policy.

Single-trip travel insurance plans are usually priced between 5-7% of your total trip cost, but factors like age, state of residence, trip cost and trip length may cause the price of your travel insurance plan to vary from trip to trip. Since annual travel insurance plans have a set cost for the year, a single-trip travel insurance plan may not be the right fit for you if you’re taking several trips.

Purchasing a new travel insurance plan for every trip can feel time-consuming depending on how frequently you travel. If you’re someone who wants to take off without worrying about coverage, or you don’t want to take the time to purchase a new plan for each trip, you should consider the Annual Travel Insurance Plan instead. 

The best part of an Annual Travel Insurance plan is there is no limit to the number of trips you can take and cover within a year. This can also be a cost-effective option if you travel more than twice a year as the price of single-trip insurance plans can add up with time, especially if factors like your trip cost or trip length aren’t always the same.

While there are single-trip plan options like the Pack N’ Go Plan that are a great option for same day departures, you still need to book your travel insurance plan before you go. With an annual travel insurance plan, you can take off knowing you’re already covered – no need to let us know when you’re traveling. Just keep an eye on your aggregate benefit limits as you travel throughout the year so you don’t accidentally travel without coverage.

Annual travel insurance plans typically don’t include trip cancellation coverage, which means you won’t be reimbursed for claims associated with a cancelled trip no matter why the trip is cancelled. If you have an existing illness, you may not want an annual travel insurance plan since there is no Pre-Existing Medical Conditions Exclusion Waiver to remove the exclusions in your policy related to pre-existing medical conditions.

Unlike single-trip coverage, you don’t get the benefit of customizing your annual travel insurance plan. This means you can’t add any optional upgrades to your travel insurance plan. Depending on what your needs are, you might consider a single-trip travel insurance plan if you want to be able to add-on optional coverages like the Pet Bundle, Security Bundle or the Baggage Bundle.

For long trips extending more than three months, the annual travel insurance plan may not be a good fit. This is because coverage will end after 90 consecutive days of travel per trip, meaning you will not be covered for the remainder of your trip. If an annual travel insurance plan is a good fit for other trips you’ll take, then use a separate single travel insurance plan for lengthy trips.