Why I purchased another annual trip insurance policy

Last year, for the first time, I purchased an annual trip insurance policy for my family. We traveled a lot over the year, and I made one medical claim on the policy. The company (Travel Insured) still made money on me despite my claim. But, having the policy brought me peace of mind, especially for our long international trip and cruise.

I’m about to embark on another year full of adventures, so it’s time to look at travel insurance again.

Why I Purchase Annual Trip Insurance

I buy annual trip insurance (also known as multi-trip insurance) for two main reasons:

  • Travel insurance from my credit cards isn’t enough, and
  • My family travels so much that it’s cheaper to get an annual policy than it is to insure each trip separately.

Many credit cards have travel insurance if you book a trip with your card. Leana successfully used the World of Hyatt card’s travel insurance from the taxes she paid on award tickets to reimburse a travel delay (see this post). Rental car insurance from credit cards can save you a lot of money.

But, I need more coverage for my trips. I would never go on a cruise without medical evacuation coverage. I know it’s rare, but there are cases where people have to be evacuated from a cruise ship. And that ain’t cheap! Plus, medical costs in a foreign country can add up quickly. 

I have five cruises in the next six months in addition to other international and domestic trips. It’s more cost-effective to get the annual plan.

Allianz AllTrips Premier

After reviewing a few different policies/companies, I decided to purchase the AllTrips Premier policy by Allianz. It covers:

  • Trip cancellation
  • Trip interruption
  • Emergency medical
  • Emergency medical transportation
  • Baggage loss
  • Baggage delay
  • Travel delay
  • Rental car damage/theft
  • Travel accident
  • Epidemic coverage
  • Covers pre-existing conditions

The one-year policy for my family of five was $425. It covers all trips that are 90 days in duration or less and 100 miles or more away from home.

Note: I have no affiliate with Allianz or any other travel insurance company. 

Bottom Line

I don’t go on a cruise without separate travel insurance. Hopefully, I won’t have any reason to file a claim this year. But, it’s still money well spent.

Photo by Jackson Simmer on Unsplash

How does my family travel so much? We use miles and points from credit card bonuses. See my Travel Hacking 101 post as well as current credit card offers here.

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