If you’re a frequent traveller and travel more than twice a year you can expect to save at least $200* on your travel insurance by buying an annual policy.
We looked into some of the top Aussie insurers to reveal the actual savings you can make. And there’s not just cost benefits, an annual policy will cover you for an unlimited number of trips in a year. That’s one less thing you have to consider before jet-setting off on your holiday or business trip!
Although it provides year-round cover, you should know that different insurer’s annual policies will vary. One of the things that differs the most is the length of time you are covered for, per trip. 1Cover provides cover for leisure trips up to 90 days, Virgin Money’s frequent traveller for 62 days, KangoCover multi-trip 60 days and DU Insure Traveller Business up to 90 days. If you’re planning a longer trip then pick an insurer that specialises in this such as itrek who cover for up to 18 months.
Save over $200 with annual policies for worldwide trips
We found the top value-for-money comprehensive worldwide annual trip policy was with 1Cover at $359, which provides cover for up to 90 days with unlimited cancellation fees and lost deposits, up to $5,000 for luggage and personal belongings and $200 excess.
The equivalent cover for a worldwide single trip comprehensive policy with 1cover is $295 which includes unlimited cancellation fees and lost deposits, up to $5,000 for luggage and personal belongings, unlimited medical expenses and $5,000,000 personal liability, provided your trip doesn’t exceed 90 days.
If you bought the single trip comprehensive policy twice you would be spending $590! If you invest in the first place and buy an annual policy. By the time you take your second trip you’re already saving yourself $231!
Save over $50 with annual policies for winter sport holidays
For adventurist travellers who love adrenalin activities you should look for an annual multi-trip policy that includes your planned activities such as skiing. The cheapest quote we found was from KangoCover Multi Trip 35 (winter sports) which costs $355 and provides worldwide cover, unlimited overseas medical expenses, $15,000 cancellation fees and lost deposits, up to $7,500 for luggage and personal belongings, provided your trip doesn’t exceed 35 days.
Our cheapest quote for a worldwide comprehensive single trip policy including winter sports costs $206 with Virgin Money (comprehensive with snow cover). This provides worldwide cover with unlimited overseas medical expenses, up to $7,500 for luggage and personal belongings and $5,000,000 personal liability.
If you bought this policy twice you would be spending $412! If you bought an annual policy in the first place by the time you take your second trip you will already be saving $57!
Save $30 each time you travel around Australia
Many travellers forget about buying travel insurance when traveling domestically but without it you’re not covered foryour luggage and personal belongings, if your trip is cancelled last minute, or if you need a car rental and need to insure it.
Travellers should consider an annual policy which covers you for all the short breaks you take throughout the year, rather than single trip domestic insurance which can cost up to $30 each time.
If you are a frequent traveller and are planning more than 1 trip in a 12 month period it pays to take out annual travel insurance.
Save time, worry and loads of money and start comparing frequent travel insurance policies now.
*Please note that prices can vary from time to time. Compare Travel Insurance takes all reasonable care when preparing its pricing information but does not warrant its accuracy. Pricing information is supplied by the travel insurance providers who participate on this site and should be verified with the insurance provider before you purchase. Prices were accurate at time of writing.