Annual Travel Insurance Plans Cover Multiple Trips

By | 2018-04-01T07:20:11+00:00 March 24, 2018|Categories: Resources, Travel Tips|Tags: |8 Comments
Annual Travel insurance plans

Miami to MSP along the Florida coast, on our way back from Cuba.

Note: This is part of a series of posts we’re writing about travel insurance. Especially among seniors, travel insurance is one of the top questions we get. This series is sponsored by Allianz Global Assistance, our provider. But we’ve selected the topics, such as annual travel insurance policies, and we’re writing from personal experience. Feel free to comment with your questions and your stories.

I don’t often admit that when we started traveling full time, we just up and left without a thought about travel insurance. We were younger then. It was before Medicare and we were confident in our health and health coverage. Trip cancellation wasn’t a big deal to us, either; after spending our first year in South America, our travels were largely spontaneous, so delays and lost luggage didn’t matter so much.

You would think the son and daughter of insurance agents would have realized the advantages of travel insurance sooner. Thankfully, we’ve averted any calamities on the road and can offer our good advise on travel insurance. That advice, especially for seniors traveling in retirement, is to go with an annual, multiple-trip plan. Here’s why:

annual travel insurance plans

Before we were traveling full time, we took this great hike in the Tetons. Fresh bear scat might have been our first hint: time to think about travel insurance.

The annual travel insurance plan pays for itself with just three trips a year.

Maybe you’re only planning one trip, but one of the benefits of retirement is that you can be more spontaneous. Travel may come up suddenly when you see some great last minute airfare, or when a family member across the country is in need of a visit.

An annual plan covers longer stays.

We first realized we wanted an annual plan when we learned some policies only cover limited-duration trips. If you want to travel for more than a month, or you want to explore the possibility of living overseas for three or six months, you’ll want to check out annual policies.

Travel is much less stressful when you are prepared.

Having an annual travel insurance plan takes one more item off your ‘to do’ list. The policy is in place no matter where you go, domestically or internationally, and no matter how far in advance you book the trip.

Annual travel insurance plans

I bought plenty of bandages in Japan, no fault of theirs!

More active travel means more need for a good policy with medical evacuation.

Like many senior travelers, we are traveling more adventurously now than ever. Maybe in the past we were happy to lounge by the pool with a book. These days we’re more physically active and visiting more developing countries. It’s important to us to have a policy in place that will cover medical evacuation if we end up injured or sick in some remote part of the world.

Some tours require insurance.

Inquisitive travelers our age are exploring new places, either volunteering or motivated to experience major cultural differences. Traveling to Cuba, for example, requires proof of insurance in order to secure the visa. Or some tours may require an additional policy.

Pre-existing medical conditions

For the over-65 crowd in particular, the policy options need to be reviewed carefully. Many do not cover pre-existing conditions, but our Allianz travel insurance does.

Rental Car

We’re the people who decline all the insurance offered at the rental counter. Between our credit cards and our Allianz AllTrips Global Travel policy, we’re covered with collision/loss damage insurance. (But check out these countries that don’t allow normal credit card coverage for rentals.  And have you thought about coverage when your car falls through the ice?)

Annual Travel Insurance Plans

More insult than injury: After dealing with China Eastern and fishy luggage, Tom landed in the overflow seating…on the bus floor.

Expensive equipment/ baggage coverage

Even if I leave the bling at home, and my favorite boots are on my feet, we do carry around some gear that is expensive and important to us. Alas, our policy would not be sufficient to cover our virtual offices that we lug around with us: cameras, laptops and iPhones. On the other hand, we don’t check any of those items. Supplemental policies are an option for extraordinary gear (not offered by Allianz). But if all our clothes are ruined, say, when the luggage gets soaked by fish water on a flight in China (not kidding), that would be covered up to $2,000.

Annual travel insurance policies come on a variety of sizes and shapes, so it’s always important to read the details and decide which policy is the best fit. We found the Allianz website offered clear options and answered our questions. So when we first applied, it was a simple decision: we chose the annual multiple-trip family plan that would cover us both…and we completed the transaction online. No medical files or exams were required. Now on our third renewal, our policy, the AllTrips Premiere Plan (formerly the Annual Premiere Plan), includes substantial medical evacuation, travel accident, and emergency medical, for $700 annual premium. Not bad for a couple globe-trotting senior citizens.

8 Comments

  1. Doreen Pendgracs March 26, 2018 at 5:16 pm - Reply

    I agree. Travel insurance is essential when we are abroad. I’m fortunate to have a premium credit card that provides me with comprehensive travel insurance for up to 15 days away from home. If I ever get to travel for longer than that, I will be sure to get the proper extension coverage.

    • Kristin Henning March 27, 2018 at 4:10 pm - Reply

      I can barely remember to stop the mail, so I’m glad to have this taken care of in advance!

  2. Marilyn Jones March 27, 2018 at 1:52 am - Reply

    I just wrote two print articles on the same subject…Every one who travels needs travel insurance and for individuals who travel a lot, it only makes sense (and cents) to buy an annual policy! Great post!

  3. Kristin Henning March 27, 2018 at 4:11 pm - Reply

    thanks Marilyn. Judging from my friends, travel really picks up after retirement. It’s a good thing!

  4. Carole Terwilliger Meyers March 28, 2018 at 5:52 pm - Reply

    This policy sounds well worth the $$! I wasn’t aware of one that covers all these bases. I plan to look into it.

    • Kristin Henning April 1, 2018 at 4:09 am - Reply

      Thanks Carole. I only wonder why it took so long for us to get around to it!

  5. Suzanne Fluhr April 1, 2018 at 3:59 pm - Reply

    I’m sharing this! And looking into it for us. We have a med evac plan to get us home (even when traveling in the US), but it looks like this one might be good to think about—at our ages.

    • Kristin Henning April 2, 2018 at 3:50 am - Reply

      My favorite part is that we are on auto pilot now, only needing t think about it when we renew annually. Cheers!

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