How much does annual travel insurance cost?
The cost of your annual travel insurance policy depends on certain factors, including:
- Where you’re travelling to.
- Who is going to be insured by the annual travel insurance policy. Will it be just you, you and your partner, a family or a group of people.
- If you’ve got any pre-existing medical conditions.
As with insurance in general, the cost of annual travel insurance will partly relate to the level of risk – the higher the risk, the more you pay.
Some annual travel insurance policies may also be more expensive than others because they include more cover.
You should expect to pay more for annual travel insurance covering you for trips Worldwide – including, US, Canada, the Caribbean and Mexico versus annual European travel insurance.
You can use Confused.com to help find cheap annual travel insurance.
Here are the average prices1 of annual policies to popular regions around the world:
| Destination | Average annual premium1 |
|---|---|
|
UK
|
£85.50
|
|
Europe
|
£83.42
|
|
Worldwide inc. US, Canada and Caribbean
|
£115.32
|
|
Worldwide exc. US, Canada and Caribbean
|
£94.97
|
|
Australia/New Zealand
|
£134.34
|
1. Amounts are based on average prices of all purchases of annual travel insurance from Confused.com between 1st September 2021-1st March 2022 with no exclusions.
Need more help?
Do I need annual travel insurance if I have an EHIC or a GHIC?
Although the UK has left the EU, you can still use your European Health Insurance Card (EHIC) as long as it hasn’t already expired.
If you don’t have an EHIC, you can apply for its replacement, the Global Health Insurance Card (GHIC). The GHIC gives you state healthcare in most European countries at a reduced cost or sometimes for free.
However, the EHIC or GHIC aren’t considered a replacement for a travel insurance policy – they can only help you get state-level medical treatment if you should need it. And they don’t cover you for things like cancellations or lost baggage as is the case with an annual travel insurance policy.
Why is annual travel insurance often cheaper than single-trip?
If you’re going on holiday more than once in a 12-month period, annual travel insurance tends to work out cheaper than single trip cover because you only have to buy one travel insurance policy per year rather than a different policy each time you travel.
When should I start my annual travel insurance?
It’s up to you to decide when you want your annual travel insurance cover to start. Your policy will begin on the date that you select and last for a total of 364 nights. For example, if you choose an annual multi-trip policy to start on 30th April 2022, your cover will end on the night of 29th April 2023.
Cancellation cover begins on the day you select the policy to begin, so it’s best to choose to start your annual travel insurance policy on the day that you buy it, just in case any of your travel or accommodation gets cancelled further down the line.
Can I cancel my annual travel insurance
Yes, you can cover an annual multi-trip travel insurance policy. If you cancel within the 14-day cooling off period you should receive a full refund of any amount you’ve already paid.
Should you cancel an annual travel insurance policy outside the 14-day cooling off period, you’ll typically be refunded a reduced amount, depending on how much time is left on the policy. You may not be eligible for any refund at all if there’s six months or less left on the policy.
If you’re considering cancelling an annual travel insurance policy, you should check the policy wording to find out what refund you're entitled to.
What our travel insurance expert says
I’d consider how spontaneous your trips tend to be as buying an annual policy means you don’t have to worry about cover every time you book as it’s in place all year round!
Although please be mindful if your annual policy only covers Europe and you decide to fly off last minute to Dubai – in this instance, you will need to upgrade your policy.
Jac Morris
Travel insurance Product Executive
What are the different types of travel insurance?
Family travel insurance
means you can get one policy that covers everyone, rather than buying individual policies.
Long stay travel insurance
is the perfect policy for those who plan to travel for an extended period.
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