Why Annual Travel Insurance is a Must-Have for My Family
As a family of four who travels for 10 to 15 weeks each year, we make it a priority to have travel insurance. For us, purchasing an annual travel insurance plan is the most cost-effective and convenient way to ensure we’re protected on all our trips. I recently renewed our coverage for 2025, and knowing how much value it offers, I wanted to share why it’s a non-negotiable for us, and why it might be a smart move for you too.
Holly Johnson, second from left, and her family in Norway, where they frequently travel.
International Medical Coverage is Critical
While we have standard health insurance in the United States, our plan doesn’t always cover us in other countries. This means that without travel insurance, we would be exposed to substantial medical expenses if any of us became ill or injured while abroad. Our annual travel insurance plan, the AllTrips Premier plan from Allianz Travel Insurance, offers $50,000 in medical expense coverage per traveler, per trip. It also includes $500,000 in emergency medical evacuation coverage per traveler, which is crucial if we need to be transferred to a hospital or brought back to the U.S. for medical care.
Additional Coverages Offer Added Value
While medical coverage is my top priority, our annual plan includes other valuable benefits. These include coverage for trip cancellations and interruptions, up to $2,000 for baggage loss or damage, travel delay coverage up to $1,500, rental car insurance, and 24-hour travel assistance. While I hope to never need these coverages, I appreciate having them in case of lost luggage or unexpected delays.
Convenience of Annual Coverage
Instead of buying individual travel insurance policies for multiple trips, an annual plan simplifies the process. With an annual plan, I can enter my information once and pay one premium for all the trips we take. This is a significant time-saver, which is especially valuable since we usually have several trips on the calendar and are constantly planning more.
Cost-Effectiveness of Annual Plans
Many people are surprised by how affordable annual travel insurance can be. For our family of four, the AllTrips Premier plan costs us $485 per year. That breaks down to under $125 per traveler and less than $50 per trip if we take 10 trips in a year. If we take 15 trips, it’s about $33 per trip. However, like with any insurance policy, it’s important to read the fine print and understand the limitations.
Our plan has a few limitations. It only applies to trips more than 100 miles from home, and coverage limits apply to every loss. Trips longer than 90 days are also excluded, but since our trips are typically a few weeks long, this has never been a problem for us.
For us, the peace of mind of having $50,000 in coverage per traveler for emergency medical expenses, $500,000 for emergency medical evacuation, and additional benefits is well worth the investment, especially since it costs less than $500 annually. If you frequently travel, consider an annual travel insurance plan—it could be a smart investment for you, too.
