How do you decide on annual multi-trip vs one offs?

[shuuy]

I'm not a big flyer, but this year has some stuff

- Work trip for me and Mrs (separate) to US
- Wedding in Europe
- Christmas in Canada
- Next July in Italy.

There may be more... but how do you decide whether to do individual trip cover vs annual multi-trip?

I think about going individual for each - the SCTI annual skiing supplement is $800 (vs $200 for just the Canada leg).

Appreciate others' advice.

 

[Pushka]

Pre Covid I did annual trip insurance . So far I've only been able to book separate trips. Which I think are more expensive.

 

[Cynicor]

I just look at what I know I have coming up and decide based on cost.
Currently I’ll need insurance for Jan, so in nov or so I’ll decide if annual outweighs one offs for my various trips

 

[RooFlyer]

I look at how far apart my overseas trips are going to be. I took a single trip policy back in March but now I’m going to have about five trips in the next 10 months so I’m about to take out an annual multi trip.

One thing I learnt from my travel agent who costs my policies for me was that the further out you insure for a trip, the more expensive the policy will be because the risk of your cancelling will be greater with the longer time. Earlier this year, I got them to cost my upcoming cruise ( with high cancellation cover), 10 months out, and also as if it was in the following month, and the cost difference was remarkable.

As your next trip is to the USA, you may want to take that as a separate policy, because USA is always an additional expense. If you then take out a multi trip policy without the USA, that would be worth considering.

 

[Flashback]

I look at how far apart my overseas trips are going to be. I took a single trip policy back in March but now I’m going to have about five trips in the next 10 months so I’m about to take out an annual multi trip.

One thing I learnt from my travel agent who costs my policies for me was that the further out you insure for a trip, the more expensive the policy will be because the risk of your cancelling will be greater with the longer time. Earlier this year, I got them to cost my upcoming cruise ( with high cancellation cover), 10 months out, and also as if it was in the following month, and the cost difference was remarkable.

As your next trip is to the USA, you may want to take that as a separate policy, because USA is always an additional expense. If you then take out a multi trip policy without the USA, that would be worth considering.

Makes sense with ASAYB travel insurance, but hadn't really thought of that!

 

[oliverd]

I've always used TID and taken an annual policy, as I generally have 2-3 OS trips a year. And it gives me some domestic cover, like the insurance excess on a car rental for any domestic trips. For a family (2A + 2Ch) the cost difference is not significant versus multiple single-trip policies.

Annual (worldwide)
$901

Three weeks inc USA
$450 - Basic
$620 - The Works

 

[RooFlyer]

ASAYB

Que?

 

[Flashback]

Que?

As soon as you book, so it covers you if you have to cancel ahead of the trip.

 

[RooFlyer]

As soon as you book, so it covers you if you have to cancel ahead of the trip.

Ah, OK. I must admit I got out of the habit of taking out TI as soon as I booked a trip. Don't know why. My major outlay coming up is a cruise in December, but its just a deposit right now and that mostly refundable. The majority of payment is next month, and then the refunds for cancellation start in earnest. So that was may main motivation to get insured now, together with a trip I'm starting next week.

 

[megbythesea]

Consider buying a Policy from TBIB - Tony Bembrose Insurance Brokers - pricing
very competitive. I am 83 still buy an Annual Multi Policy

 

[megbythesea]

Due to my age, I am travelling after COVID as much as possible,
the Policy covers me anywhere 100 Ks from home. At present I exclude
USA & Canada.

 

[RooFlyer]

Welcome to AFF @megbythesea . What policies (underwriters) does TBIB offer?

 

[SYD]

SYD+1 and I are back on the Annual multi-trip cycle. Two or more trips in a 12 mth window ought to be cheaper to buy a multi-trip than seperate policies (unless they’re really short trips). The only downside is max trip duration.

Precovid, I used to find that an annual worldwide policy wasn’t much more than say 4wks in North America single trip. If you’re doing 2 or more trips, a bit of a no brainer.

I can’t say I’ve noticed significant price differences buying insurance further out. The reality is for the insurer, cancellation cover is a drop in the ocean compared to say medical cover.

 

[SeatBackForward]

So I'm at a point of needing to renew my annual multi-trip cover - it looks like the usual providers I search for are not offering it anymore, or their online quoting system seems to have removed them as an option. Took at look at the QF offering and its' double what I paid last year!

Anyone else had a look arecently for annual multi-trip cover?

 

[SeatBackForward]

So I'm at a point of needing to renew my annual multi-trip cover - it looks like the usual providers I search for are not offering it anymore, or their online quoting system seems to have removed them as an option. Took at look at the QF offering and its' double what I paid last year!

Anyone else had a look arecently for annual multi-trip cover?

Ok replying to myself. I contacted my last years provider (Medibank) and to my surprise, they quoted me an annual multi-trip policy that was about $100 cheaper than last year! Can't say that about many things these days. Wonder if its a fallout from the trouble they had last year?

 

[RooFlyer]

I can’t say I’ve noticed significant price differences buying insurance further out.

My experience may have been influenced by the fact that it included a cruise, where there is a relatively long period of increasing non-refundable amounts (ultimately, 10s $’000s) prior to departure, compared to say, flights only.

The TA quoted the policy as if the cruise was one month away, three months away, and six months away and increasing price for being further out was remarkable.

 

[sanne]

Due to my age, I am travelling after COVID as much as possible,
the Policy covers me anywhere 100 Ks from home. At present I exclude
USA & Canada.

Please could you let us know who you’re insuring with. We are in the similar situation as yourself. Thank you.

 

[SYD]

My experience may have been influenced by the fact that it included a cruise, where there is a relatively long period of increasing non-refundable amounts (ultimately, 10s $’000s) prior to departure, compared to say, flights only.

The TA quoted the policy as if the cruise was one month away, three months away, and six months away and increasing price for being further out was remarkable.

Possibly. But that’s still way less than the 100s $k coverage for medical.

Either way, important to have some coverage if booking non refundable stuff.

 

[OZDUCK]

I have just started getting quotes for our trip in Nov/Dec this year and the premium cost from RAC (WA) for a single trip has also doubled since last year.

Edit: But is still $200 cheaper than TID.

 

[shuuy]

Ok replying to myself. I contacted my last years provider (Medibank) and to my surprise, they quoted me an annual multi-trip policy that was about $100 cheaper than last year! Can't say that about many things these days. Wonder if its a fallout from the trouble they had last year?

I've found the exact same thing... But an annual (worldwide) policy for 2 adults + 2 kids including snowsports is 1/3rd the cost of SCTI, Cover-More (and 30% cheaper than TID or 1cover).

Sure, some lower cancellation limits, but I've got credit card insurance (Chase Sapphire) for that.

What am I missing?!