While it may not actually be a secret, many people are unfamiliar with the annual, multi-trip travel insurance policy. Unlike single-trip policies that only cover you for one trip, an annual travel insurance policy offer you emergency medical coverage for every trip you take within 12 months of buying your policy.
Add it up and save
At first glance, getting annual travel insurance may seem like overkill, but just think of how many times you may have travelled in the last year: family vacations, business trips (get tips for business travellers), spring break getaways, and weekend jaunts across the border for shopping or sporting events. Add it all up and often an annual policy works out to be cheaper than purchasing a single-trip policy per trip in a year and in some cases, it's even cheaper than buying just one!
The annual policy advantage
An annual travel plan is valid for 12 months, and you can travel as many times as you like during the year, as long as you don't exceed the maximum trip duration for the policy which you've purchased, generally 15 days in length. There is more choice than this however, including nine, 16, and 18-day multi-trip travel insurance plans as well, so there is room for flexibility.
The biggest advantage of purchasing annual travel insurance is that you don't need to arrange for emergency medical coverage for each separate trip you take, which means you're not only saving money, but time as well.
How the savings can apply to you
While every person's travelling situation is unique, the following realistic scenarios show how an annual policy might be the right choice when it comes time to buy travel insurance in Canada.*