Best Annual Multi-Trip Travel Insurance in the new COVID World?

[group-of-5]

I'm looking at this thread with interest! Also examining annual policies as we return to more active travel.

From what I've experienced, it's important to know who the underwriter is that stands behind the policy, as well as examining the T's & C's.

For many years we used 1Cover, driven by the fact that one of our kids had a medical issue (well controlled) at the time, but it was near impossible to get travel insurance or if we did, there was a large premium increase. 1Cover at the time accepted the condition without any issues or premium uplift. I also had a need to make a minor medical claim on a trip, and it was handled exceptionally well. Underwriter at the time was Allianz I believe. They changed underwriters at some point and we found the service deteriorated to the point we ditched them.

We then came across World2Cover. Underwriter is Tokio Marine & Nichido Fire Insurance. Prices were competitive (up until Covid at least) and policy T's and C's were good. We've never had to make a claim, but reviews seemed to be positive. I have been really impressed by their service in the initial covid period. We had a couple of trips booked for 2020. I rang their help line to enquire about our policy position, got to speak to a real person within minutes who confirmed we were covered. More importantly, he gave us good advice to wait until the airlines involved cancelled the flights and issued refunds, then we could cancel the policy and they would refund the premium. I know that we were luckier than most people, but we got all our airfares back (thanks China Airlines) and even got our travel insurance back as well.

I've just had a look at World2Cover's website and the covid conditions look reasonable to me at first glance. I'd be interested to know what other people think.

 

[Sale]

I have been looking for a policy for a Mediterranean cruise next year - a one off policy, not annual. We are in our 70s , and both have pre-existing conditions. We also wanted some Covid cover plus a decent cancellation amount. I ended up with a bit of a spreadsheet happening as I was going google-eyed reading PDS's

So many difficulties and high prices. Hopefully the following may be of some use

The companies selling Allianz generally suited us best - priced around $2,000 for 30 days and covered both our PECs, unlimited cancellation $ and cruise cover. They included:
- Allianz
- WorldCare
- Teachers Health Insurance
- Boomers

For our needs and PECs - the Covermore policies were almost double in price.

Westpac CC TI is great - covers Covid, cruise, unlimited cancellation and my PEC - all for a $45 assessment fee. They did not cover Mr Sale's PEC though

Then I found SGIC which was part of the IAG group and has recently been acquired by the NRMA. The policy is Covermore, but the price considerably lower than any of the Allianz companies.

I realise that all of this could be quite different for someone else, but that the way it worked for us. Hopefully it helps someone else.

 

[mrsterryn]

@Sale did you and Mr sale have different travel insurance policies then ?

 

[ellen10]

Thanks @Sale for your information. I am having a look at those policies now. Travel insurance is such a minefield ! Which company did you eventually go with? SGIC?

 

[Sale]

@Sale did you and Mr sale have different travel insurance policies then ?

FI- Westpac is basically the same as the ANZ policy
I ended up with two policies - I consider Westpac to be our primary policy and it covers my PEC plus both of us for everything else - except Mr sale's cardiac issues. The covid cover on the Westpac policy was also much better.

As the fall back position, I also took the SGIC as it covers Mr Sale for a coronary stent about 15 years ago - the thought of being on a cruise with possible evacuations and associated costs was scary. The cost to cover the cardiac type issues was $230.

I needed to pay for both of us on this policy because if he had any sort of cardiac event the Westpac policy wouldn't cover me. (I didn't bother to pay the extra $200 for my SGIC assessment).

It sounds muddly but we are now both covered for everything and it is such a relief.

 

[Millie]

Thanks for all the chat, research, and tips. This will speed up my research. Given I booked with points I take it my credit card will not cover me?

 

[Stargazer]

This thread refers to annual policies. Just wandering what everyone thinks about a single policy for 14-21 days to either a single destination such as Fiji or my other option is a cruise for a similar period. Regarding if a fly to a single destination what insurance would cover the possibility of Qantas cancelling flights either before or mid trip. I plan to use points for the flights. Any pointers would be appreciated for either travel option including COVID concerns. Didn’t realise what a minefield this is.

 

[GrahamBRI]

This thread refers to annual policies. Just wandering what everyone thinks about a single policy for 14-21 days to either a single destination such as Fiji or my other option is a cruise for a similar period. Regarding if a fly to a single destination what insurance would cover the possibility of Qantas cancelling flights either before or mid trip. I plan to use points for the flights. Any pointers would be appreciated for either travel option including COVID concerns. Didn’t realise what a minefield this is.

From my research, single policy has better coverage (especially for COVID), so if you are only doing a single trip I would definitely go that way....... if you are looking to multiple trips in a 12 month block, the multi trip certainly a lot more economical. Also note most multi-trip starts the12 month cover on the start date of your first trip and will still cover some things before that actual start date (eg insolvency), so a great way to go if you have a 12 month block of travels.

With respect to if the airline cancels your flight, my read of policies, there is no cover, the airline is responsible to get you to/from your destination (if you need to go home early for funeral, or if airline goes insolvent you will get cover from your insurance). For the current uncertain times and high airline cancelations, my flight cancelation insurance is to book two flights on different airlines (with points) and cancel the surplus one just before you are due to fly - essentially the cost of this insurance is $50.

 

[Stargazer]

For the current uncertain times and high airline cancelations, my flight cancelation insurance is to book two flights on different airlines (with points) and cancel the surplus one just before you are due to fly - essentially the cost of this insurance is $50.

I only have points on QF FF. So I would need to purchase an additional ticket. Aren’t the cancellation costs exhorbitant? Or is this just a necessary cost to keep your itinerary moving forward.

 

[GrahamBRI]

I only have points on QF FF. So I would need to purchase an additional ticket. Aren’t the cancellation costs exhorbitant? Or is this just a necessary cost to keep your itinerary moving forward.

Sounds like your best option then is to just trust the airline to do the right thing and get you there and back. Buying a ticket for insurance is an expensive outlay and you will have to pay full price fare on a full-service airline (no discounted fares and no discount airline) to get a cash refund option....... and that should be the same cost as a last-minute ticket, so the only insurance that provides for is if all flights on all airlines are sold out...... not a risk I would insure against.
My advice, start looking for some virgin credit cards with sign up bonuses so you can get velocity points and have some other airline options.

 

[Stargazer]

But surely getting a refund for a full service Carrier is a better option than paying for a low cost seat on another carrier which may not be used and might have no refund. Lost dollars rather than dealing with insurance company

 

[Gold Member]

Allianz 15% off travel insurance available until tomorrow midnight. Use code FRENZY.

 

[Dr Ralph]

Have prices doubled since covid??

More than doubled for me.

 

[QF029]

I need to buy a policy today for a trip starting tomorrow. I'm in my 40s and no pre existing health concerns. I csnt do amex platinum as I put the trip on another card.

My default will be TID for an annual policy. Any other suggestions to look at?

 

[GrahamBRI]

I need to buy a policy today for a trip starting tomorrow. I'm in my 40s and no pre existing health concerns. I csnt do amex platinum as I put the trip on another card.

My default will be TID for an annual policy. Any other suggestions to look at?

I like RACQ as it offers cover for financial default, TID does not appear to……… but on the flip side TID appears to have great COVID cover for cancellation of trip due to not being able to travel because you are diagnosed with COVID.

 

[troels]

I need to buy a policy today for a trip starting tomorrow. I'm in my 40s and no pre existing health concerns. I csnt do amex platinum as I put the trip on another card.

My default will be TID for an annual policy. Any other suggestions to look at?

Use to use TID (and had good experiences) but (for some reason I can't remember) I had to switch post-covid. Been using Cover-More annual trip insurance for last two years and just renewed. They also have a 15% off code "TRIPS15" right now. I also tried Allianz but for me they were much more expensive:

Annual trip policy, max trip 45 days, with $100 excess, motorbike cover, $2000 cancellation:

Cover-More - $588.20 (all of Asia)
Allianz - $908.81 (have to add all countries individually)

Includes 15% discount on both, which has now expired for Allianz.

I have a place overseas so need cancellation cover only for the flights. Cover-More has decent Covid cover included. Oh and a possible 7% back with CashRewards but it may not stack with the 15% code.

 

[drron]

Basically there is no best multi trip Annual policy. It really depends on your travel and where in the world you want to go. under 65 a great choice. If your trips are under 35 days TID was certainly a good choice. However after reirement we took longer trips but usually under 60 days so Allianz products suited us. We used Qantas often.

However once you pass 65 the choices get less and dramatically so once you hit 75. So for us the SCT policy was a no brainer as you can get 30,60 or 90 day policies that cover cruising. You must declare your pre existing illnesses but you can decline the extra cover if you want.

Well on our last trip Mrsdrron had a fall in Singapore and broke her shoulder. Easy to claim on line and within 4 days the amount less the $100 excess was back in our account. so really can the Southern cross Travel policy.

 

[tdimdad]

Any current intel on which companies / providers to look for for an annual cover.

In the working age, needs to cover Asia & Europe, but North America I'm happy to buy as a separate add-on for those odd trips when I go there. Mid-to high level of cover, including for pesky things like permanent disability and death. Hijack & kidnapping is a good extra to have (who knows where I decide to go within the boundaries of travel advisories...).

 

[RooFlyer]

Just a thought derived from my recent looking at 3 x single (including a cruise) international trips over the next 9 months Vs buying individual singles. With any policy, the premium will go up because of the (insurer) risk of cancellation is higher if you buy the policy further out from the trip. I showed this when I got a quote for a single trip policy for my cruise - priced for December it was between 2 and 3 times the cost as if the trip was a month away. This sort of uplift must exist in multi trip policies too.

For me, the price of three single policies (priced as if each was 3 weeks away) was less than the price of an annual multi, IIRC by a couple of hundred dollars and I have the option of changing provider if at the time they are better, and I can exclude USA on some trips, thus reducing the premium, too.

@tdimdad , for Single or Multi, comparing NIB, Go and CoverMore recently, I chose NIB because it has a significantly more generous treatment of pre-existing medical conditions, and the others were a wash, overall. I could get my common 'older person' maladies covered by NIB (for an additional premium) whereas GO and CoverMore always screened me out. YM, as they say, MV.

 

[tdimdad]

Just a thought derived from my recent looking at 3 x single (including a cruise) international trips over the next 9 months Vs buying individual singles. With any policy, the premium will go up because of the (insurer) risk of cancellation is higher if you buy the policy further out from the trip. I showed this when I got a quote for a single trip policy for my cruise - priced for December it was between 2 and 3 times the cost as if the trip was a month away. This sort of uplift must exist in multi trip policies too.

This is an interesting observation! Thanks for sharing it, @RooFlyer.

So far I've bought individual trips but comparing the providers and covers is always tedious and porous because each company presents their details differently. If we have a standard fact sheet which all companies presents, it'd be so easy to compare them side by side. One day, hopefully, one day...