- Covers any number of trips annually and automatically
- As a fare-paying passenger traveling overseas
- Wide range of risks travelers are exposed to are covered
- Emergency Assistance is available 24 hours a day through call centers
Everyone is familiar with the "Take One" travel insurance brochures and coupons at airports or travel agency offices. However, because of the volume of trips people are taking each year the insurance industry decided to offer an annual policy to cover all trips made during a policy year without the policyholder having to declare each trip. This eliminates the need to sign up for insurance before one travels as it is automatically covered under the annual plan. Some firms even purchase group plans for a number of their people. For annual cover to be cost-effective, one should make over 3 trips per year.
Most policies cover "overseas" trips, i.e. trips taken as a fare-paying passenger on a public conveyance from one's country of residence to another country and back. Cover per trip is often limited to 90 days. Some plans will cover trips made over 100 Miles away from one's normal residence yet within the same country provided the public conveyance rule applies. Plans can cover whole families year-round.
Items insured by the policy can vary from one plan to another. Typically they all cover accidental death and disability, medical expenses to include medical evacuation and/or repatriation, hospital daily cash, baggage and it's delay, personal money, travel documents, travel delay, trip cancellation, and personal liability. In some cases the insurance company can modify inner limits if the standard item limits are not acceptable. Expect to pay an additional premium for any alterations.
For frequently traveling people annual travel insurance is most convenient and practical. And because of increasing competition the premiums being charged are very reasonable. New is cover now for seniors to age 75. The 24-hour assistance centers are most valuable when a need arises in an unfamiliar location. This plan is good value and should be considered as part of one's financial plan and insurance portfolio.