Taking out annual travel insurance can be a timesaver if you’re a frequent flyer, saving you the hassle of taking out individual policies for consecutive trips. If you’re tossing up which multi-trip policy is best, you can compare a variety of offers with Savvy today.
We're partnered with some of the leading travel insurance companies in Australia to give Australians like you the opportunity to consider high-quality offers quickly and conveniently, with a simple, 100% online process from start to finish. Get the wheels in motion on your application today with a free quote through us.
How does annual travel insurance work?
Annual travel insurance, or multi-trip insurance, is a type of cover which can offer protection for multiple trips across 12 months. You only pay one premium and providers set limits on how much you can travel, which will vary depending on who you choose to go with. Some insurers can offer cover for an unlimited number of trips taken up to a maximum of 90 days each, but this won't be the case for every provider. As such, it's important to compare your options and find out what you'll be covered for before you purchase your policy.
Travel insurance companies usually have a few requirements around taking out this sort of coverage. For example, some companies will place age limits on travellers buying this policy, such as not covering those over the age of 65, while most will require that the journey you take must start and end in Australia.
Annual travel insurance can cover you for a wide range of incidentals, all of which are subject to qualification requirements set in place by your insurer. Some of these can include:
- Cancellation costs
- Lost or damaged items
- Healthcare costs
- Personal liability in the event of an accident overseas
- The excess on a rental car
- Travel delay expenses such as meals and accommodation
Additionally, some providers may also allow you to bundle additional coverage into your travel insurance (depending on the type you choose), such as:
- Cruise ship
- Skiing and other winter sports
- Scuba diving and other adventure sports or activities
When should I take out annual travel insurance?
One of the key benefits of travel insurance of this kind is that, if you travel several times a year, it can potentially save time compared to taking out individual policies for each trip you embark on. As such, annual insurance can be suited to several different travellers, including:
- Business travellers: if you’re frequently between cities for business, annual travel insurance may be able to save you from sorting insurance before every domestic or international journey.
- Frequent jet setters: if you're someone who is planning more than two international or domestic trips each year, you may find that annual travel insurance is a more affordable option than multiple single-trip policies (though it's important to compare your options to confirm how much you may pay before you buy).
- Families: if you’re hitting the road or the skies often with your partner, spouse or wider family members, annual coverage may save valuable time and money, depending on your situation.
Annual travel insurance is designed to suit travellers taking several trips per year (usually more than two) rather than one long holiday. Make sure you compare annual travel insurance options so you can be clear on what is and isn't covered by different providers and policies.
How do I compare annual travel insurance policies?
When you’re comparing travel insurance policies with Savvy, be sure to weigh up the following factors:
Not all travel insurers will provide coverage for the same destinations around the world. As such, it's important to know the locations you're planning to travel to so you can cross-reference with different insurers and determine whether they can be covered. Some insurers also offer the ability to purchase worldwide cover, which can protect you from covered events in a wide range of countries (covered circumstances and locations will be subject to your insurer's terms and conditions).
Inclusions and exclusions
Travel insurance policies come with a range of inclusions and exclusions, which will vary depending on who you choose. It’s crucial to compare these so you can be aware of what different companies and policies include and exclude, which may help you decide on what type of cover is best for your needs.
Cover for pre-existing conditions varies from insurer to insurer, as each may have their own list of conditions which are automatically covered and those which aren't (some insurers may also have a list of conditions which can only be covered by paying an extra premium). As such, it’s essential to compare insurers if you have a pre-existing condition, as it may be important to find one which can offer you cover where you need it.
Covered length (and number) of trips
The number of trips covered by your policy and the maximum duration of each individual trip may vary depending on who you choose to purchase your policy with, as outlined above. Because of this, it's important to compare your options, as not every policy may suit your requirements.
If you’re a mature-aged traveller, getting an annual travel insurance policy can be tough. Some insurance companies are unlikely to cover you if you’re over the age of 65; however, there may some who set higher limits. It's important to note that receiving coverage will still be subject to you meeting your insurer's other qualification criteria.
When you make a claim on your travel insurance, you’ll need to pay a gap, known as an excess, in most cases. You can generally choose what this sum is, although different insurers may have different requirements depending on the type of cover and your profile. With some insurers, you may not be required to pay an excess in certain situations, though no excess typically leads to more costly premiums. As such, it's important to consider where your priorities lie when determining which policy and excess is most suited to your needs.
Types of travel insurance
International travel insurance can offer cover for a range of events, including medical expenses, lost luggage or items, cancellation fees and more when you're overseas and a long way from home.
If you're journeying within Australia, domestic policies are designed to offer many of the same protections as international travel insurance (with the exception of medical expenses).
The most standard and common type of travel insurance, this policy can cover you for one trip starting and ending in Australia (and is available for both international and domestic travel).
As the name suggests, this type of travel insurance covers multiple trips over a 12-month period. Depending on your insurer, you may be able to take an unlimited number of trips up to 90 days each.
You don't have to have a return ticket booked to take out cover while you're overseas. One-way travel insurance enables you to access cover without a set end date, such as if you're moving temporarily.
You may need to take out specialist coverage if you're setting sail on a cruise. Fortunately, cruise insurance can cover emergency evacuation, cabin confinement and more.
Just because you're older doesn't mean travel insurance isn't still important. If you qualify for cover, seniors' travel insurance can offer greater peace of mind for included events while you're travelling.
Adding winter sports or ski cover to your policy can add protection against damage to your equipment, piste closure due to bad weather and activities such as back-country skiing, heliskiing and more.
Looking to enjoy some adventure sports on holiday? An adventure sports pack can grant you cover for a range of activities, such as hiking, scuba diving and motorcycle or scooter riding.
Jetsetting with the whole clan in tow? Some insurers offer family travel insurance, which enables you to include yourself, your partner and your dependent children under one policy to help you save.
If you're travelling interstate or overseas with your partner (or simply another friend or family member), you may be able to access a discount by taking out a joint or duo travel insurance policy.
Why compare travel insurance with Savvy?
Why compare hotels with Savvy?
How to reduce the cost of your annual travel insurance
Shop around and compare with Savvy
When you need insurance for an upcoming holiday, shopping around is one of the best ways to sniff out the most competitive deal on the market. When you compare travel insurance policies with Savvy, you’ll have access to a side-by-side comparison of quotes based on your preferences from some of Australia's leading providers.
The pros and cons of annual travel insurance
May be more affordable for frequent flyers
Choosing an annual travel insurance policy may be more cost-effective than purchasing individual policies if you're planning to take more than two trips per year, both close to home and overseas, such as a getaway to Canada.
Rather than going through the process of purchasing a different policy each time you travel, an annual policy may be able to help you save time overall.
Flexible travel coverage
Some insurers may enable you to access cover for an unlimited number of trips per year up to 90 days each (subject to their other qualification criteria).
Multi-trip policies usually have age restrictions in place which make it more difficult for seniors to purchase them.
May be more expensive for one or two trips
The policy in itself can be more expensive to purchase than a single-trip policy, meaning it may be cheaper to stick to individual policies if you're only planning one or two trips.
Commonly asked annual travel insurance questions
Helpful travel insurance guides
Explore your travel insurance options for your next destination
We do not compare all travel insurance brands currently operating in the market. Any advice presented above or on other pages is general in nature and does not consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
Savvy earns a commission from our partners each time a customer buys a travel insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via their websites.
Before purchasing your policy, we recommend you refer to the provider’s PDS for any further information on the terms, inclusions and exclusions.