Annual Travel Insurance Canada: Full Guide 2023
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Annual travel insurance is a smart choice for frequent travelers. It covers multiple trips in a year, saving time and money compared to buying separate policies.
This is especially useful for business travelers, adventurers, and those with flexible plans. It ensures protection from unexpected medical costs and trip disruptions, giving peace of mind across various journeys.
In this guide, find everything you need to know about annual travel insurance, what it covers, options available, who is it for, and more. You can compare plans from various providers and get free travel insurance quotes to help you zero in on a plan that suits you best.
Annual Travel Insurance Canada: 6 Key Takeaways
- Annual travel insurance offers coverage for an unlimited number of trips within a 12-month period.
- There are several providers including Allianz Global Assistance, Manulife, TD Insurance, Blue Cross and CAA.
- Each provider offers unique benefits and coverage options.
- Some insurers offer automatic renewals for monthly policies, providing additional flexibility.
- Look for potential discounts, such as bundling insurance policies, to save money.
- Compare plans from various providers and get free quotes using HelloSafe comparator.
What is annual travel insurance?
Annual travel insurance Canada is a type of travel insurance that provides coverage for an unlimited number of trips within a 12-month period. Most annual travel insurance plans typically cover emergency medical expenses, trip cancellation and interruption, lost or stolen baggage and other travel-related incidents.
Annual medical travel insurance is usually covered in an annual travel insurance policy, but some insurers may have a separate plan for medical travel coverage. Travel insurance annual plans (or annual multi trip travel insurance) can be a good option for people who travel frequently or want to save on insurance premiums.
However, it’s important to note that not all annual travel insurance plans are created equal. Some plans may have higher deductibles or exclusions than others. Compare different plans carefully before purchasing one.
Here are some of the benefits of travel insurance annual plans:
- Save money on insurance premiums: If you travel frequently, annual travel insurance can save you money on insurance premiums.
- Make informed decisions: Knowing that you are covered for any medical expenses or other travel-related incidents can give you peace of mind when you travel.
- Have flexibility: Annual travel insurance allows you to book your trips without having to worry about insurance coverage.
What should you look for in an annual travel insurance policy?
Here are some of the things to consider when buying annual multi trip travel insurance plans:
- The level of coverage you need: Make sure to choose a plan that covers the expenses you are most concerned about.
- The deductible: The deductible is the amount of money you will have to pay out of pocket before your insurance will cover any expenses. Choose a plan with a deductible that you can afford.
- The exclusions: Make sure to read the exclusions carefully to see what is not covered by the plan.
- The maximum coverage: The maximum coverage is the maximum amount of money that the insurance company will pay for any one incident. Choose a plan with a maximum coverage that is sufficient for your needs.
Good to know
Some insurers also provide annual family travel insurance, a type of insurance policy that provides coverage for an entire family for multiple trips throughout a year. Instead of purchasing separate travel insurance for each individual trip, an annual family travel insurance policy offers consistent protection for various journeys taken by any member of the family. It's a convenient and cost-effective option for families who travel frequently.
If you are considering buying multi trip annual travel insurance, you must compare different plans carefully. You can simply use our tool below and get free and personalised quotes from different insurance companies in Canada while you compare annual travel insurance plans as per your needs.
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What’s covered in annual multi-trip travel insurance?
Multi-trip annual travel insurance plans come with different coverages and exclusions, based on the policy you choose and your provider. Here are some of the things that are typically covered by annual multi-trip travel insurance:
- Emergency medical expenses
- Trip cancellation and interruption
- Lost or stolen baggage
- Medical evacuation
- Personal liability
- Trip delay
- Delayed luggage
- Missed connections
- Passport and visa assistance
- Emergency cash
Good to know
Typically, annual travel insurance over 65 plans might have higher premiums given that older adults are more likely to have pre-existing conditions or require more medical coverage.
What’s not covered in annual multi-trip travel insurance?
Here are some of the things that are typically not covered by annual multi-trip travel insurance although the coverage might change based on your individual needs and policy:
- Pre-existing medical conditions
- War and terrorism
- Intentional injury or damage
- Certain activities, such as scuba diving or bungee jumping
What are the best annual travel insurance plans in Canada?
The best annual travel insurance plans in Canada (or annual worldwide travel insurance plans for Canadians) will vary depending on your individual needs and circumstances. Here are some of the most popular and well-rated travel insurance providers:
- Allianz Global Assistance
- Manulife
- TD Insurance
- Blue Cross annual travel insurance
- CAA annual travel insurance
Good to know
Some insurers offer annual options while others offer monthly policies that can be automatically renewed after a month. The plans are different as per destination as well. For instance, annual travel insurance UK would be different from that of USA or European Union.
Allianz Global Assistance
Allianz travel insurance has an Annual Medical Plan, which offers medical coverage for an unlimited number of trips within a year from the time of purchase.
You can choose between a 10-day Annual Medical Plan, which covers unlimited trips lasting up to 10 days each, or a 30-day plan that encompasses unlimited trips lasting up to 30 days each. These day limits can be extended for any individual trip during the year by contacting Allianz Global Assistance for an extension. Here are its key benefits:
- Emergency medical: $10,000,000
- Reimburses specific expenses incurred due to a medical (including hospitalization) or dental emergency that arises during your journey.
- Emergency medical transportation
- Meals and accommodation: $300/day (max. $5,000)
- Vehicle return: $5,000
- Pet return: $500
- 24-hour assistance
Good to know
Travellers aged 70-84 years are required to complete a medical questionnaire. This coverage is available for individuals up to 84 years old.
Manulife TravelEase travel insurance
This plan from Manulife travel insurance helps you enjoy extensive coverage for journeys lasting anywhere from a few days to a full year, as long as your Canadian government health insurance plan remains active throughout the entirety of your trip.
When embarking on a journey with a health condition, the least desirable concern is the uncertainty of having adequate coverage for unforeseen medical emergencies. TravelEase travel insurance helps you find reassurance by providing comprehensive coverage for numerous pre-existing conditions that might not be accommodated by other insurers.
Travel insurance annual multi trip coverage also ensures your access to essential emergency medical assistance while you are away from your usual abode.
You can benefit from emergency medical coverage that extends up to $5 million, encompassing:
- Medical practitioner consultations
- Ambulance conveyance
- Hospital stays
- Prescription medications
- And various other benefits
TD Insurance Multi-Trip All-Inclusive Plan
If you're looking to embark on multiple journeys within a year, the TD Insurance Multi-Trip All-Inclusive Plan offers comprehensive coverage for both medical emergencies and non-medical aspects such as trip cancellation and baggage delay. This annual plan is tailored to cover eligible trips throughout the year.
It offers emergency travel medical of up to $5 million per individual covered, for each trip. For trip cancellation, you get up to $2,500 per person covered or a maximum of $5,000 per family for every annual coverage period. Here are its other benefits:
- Trip Interruption: Up to $5,000 per person covered, per trip
- Baggage and Personal Effects: Up to $1,000 per trip covered, with a maximum of $2,000 per annual coverage period
- Baggage Delay: Up to $400 per trip covered, up to $800 per annual coverage period
- Accidental Death and Dismemberment Flight Accident: Up to $200,000 per person covered, with a maximum of $1 million per annual coverage period
- Accidental Death and Dismemberment Common Carrier Accident: Up to $100,000 per person covered, up to $500,000 per annual coverage period
Blue Cross annual travel insurance
Blue Cross travel insurance offers multi-trip annual insurance for Canadians, which provides you with fully customizable coverage for a full year, catering to an unlimited number of trips, regardless of your chosen destination. Here are its key features:
- Covering an unrestricted count of trips over a 12-month span
- Effective from the commencement of your initial trip
- Option to select the duration for each trip (ranging from 4 to 180 days)
- Extension available for trips surpassing the initially purchased duration
What’s more? This coverage ensures reimbursement for eligible services in case a significant or unforeseen incident necessitates the cancellation, modification, interruption, or extension of your planned trip. The maximum coverage per traveller per trip is $5,000.
CAA annual travel insurance
CAA’s Multi-Trip Vacation Package Plan offers comprehensive coverage for your travels. This plan encompasses all the extensive protections featured in their Single-Trip Vacation Plan and additionally provides coverage for numerous separate trips beyond your province or territory, each lasting up to 4, 8, 15, or 30 days. You can renew this monthly.
Included in this package is Virtual Emergency Medical Assistance and House Call Service, granting you immediate access to round-the-clock emergency medical care through virtual health care from qualified medical professionals. Here are the plan highlights:
- Emergency medical treatment covered up to a maximum of $5 million
- COVID protection
- Trip cancellation ranging from $2,000 to $5,000 per trip, with a yearly maximum of $10,000
- Unlimited trip interruption Insurance
- Travel accident insurance offering coverage up to $100,000
- Baggage and personal effects insurance covering up to $1,000 per trip, up to a yearly maximum of $3,000
- Baggage delay coverage up to $1,500 per policy year
- Lost documents coverage up to $200
- Holiday protection extending up to $750
Good to know
During your travels within Ontario, you can avail up to four virtual consultations with a licensed Canadian medical doctor. For international or other Canadian travel, unlimited virtual visits are at your disposal.
Before you decide on one of these best annual travel insurance Canada plans, we recommend that you compare coverage from various providers. All you need to do is use our comparator below and get quotes from the best annual travel insurances in a few seconds.
Compare the best travel insurance plans on the market!
What are credit cards with travel insurance and no annual fee?
Here are a few credit cards that offer travel insurance benefits without charging a yearly fee:
| Credit card name | Travel insurance benefits | Additional notes |
|---|---|---|
| Scotiabank American Express® Card | Travel emergency medical insurance (up to 8 days) Rental car collision insurance | Purchase protection, extended warranty |
| BMO AIR MILES® Mastercard | 15 days of out-of-country medical protection Lost/stolen baggage coverage Rental car collision insurance | Earns AIR MILES® rewards |
| Tangerine Money-Back Credit Card | Rental car collision and damage insurance | Cashback rewards |
| MBNA Rewards Platinum Plus® Mastercard® | Rental car collision and damage insurance Extended warranty and purchase assurance | Earns rewards on purchases |
| RBC® Cash Back Mastercard | Rental car insurance Purchase security | Cashback rewards |
How to find cheap annual travel insurance?
Here are some tips on how to find cheap annual travel insurance in Canada:
- Compare quotes from different insurance companies: Get quotes from several different insurance companies to compare prices and coverage. You could use our comparator to get free quotes on the best annual travel medical insurance plans.
- Consider your needs: Think about what kind of coverage you need and how much you are willing to pay. If you are only going to be travelling within Canada, you may be able to find a cheaper plan than if you are going to be travelling internationally.
- Look for discounts: Some insurance companies offer discounts for things like bundling your travel insurance with other insurance policies or being a member of certain organisations.
- Buy early: It is usually best to buy travel insurance as soon as you start planning your trip. This will give you more time to compare quotes and find the best deal.
