Author Bowtie Team
Updated on 2025-06-11
Disclaimer: This article is translated with the assistance of AI.
If you’re planning multiple trips in a year, annual travel insurance could save you more than buying single-trip policies. Wondering how many flights make it worthwhile and how prices stack up across insurers? Bowtie breaks it down to help you choose smarter!
What’s the Difference Between Annual Travel Insurance and Single Trip Insurance?
The coverage of annual Travel Insurance is essentially the same as single trip travel insurance, providing protection for insured travelers against medical issues and accidents at the destination, trip cancellations or delays, and risks like loss of personal belongings. The main differences between the two products lie in the coverage period, number of trips covered, and premiums, as detailed in the table below:
| Types of Travel Insurance | Annual Travel Insurance | Single Trip Travel Insurance |
| Coverage Period | 12 months | Depending on trip duration |
| Maximum Duration per Trip Covered | Generally 90 days | Generally 180 days |
| Number of Trips Covered | Unlimited trips | Single trip |
| Purchase Frequency | Once per year | Must purchase before each trip |
Compare Premiums for 6 Annual Travel Insurance Plans
Bowtie has compiled a comparison of the annual plan premiums for 6 popular travel insurance products on the market:
| Travel Insurance Plan | Main Coverage Amount (HK$) | Annual Premium (Individual) (HK$) |
| FWD (FWD) MyTravel Insurance – Superior Plan | Medical and Emergency Support: 1,500,000 Personal Belongings Coverage: 20,000 Trip Disruption: 3,000 – 50,000 | Asia: 3,375 Worldwide: 4,219 |
| BOCG Insurance Universal Voyage Travel Insurance Plan – Diamond Plan (with Upgraded Coverage) | Medical and Emergency Support: 1,500,000 Personal Belongings Coverage: 18,000 Trip Disruption: 3,600 – 50,000 | Worldwide: 2,086 |
| Blue Cross Smart Travel – Premium Plan | Medical and Emergency Support: 1,200,000 Personal Belongings Coverage: 20,000 Trip Disruption: 1,500 – 50,000 | Worldwide: 2,080 |
| Starr TravelLead Travel Insurance – Supreme Plan | Medical and Emergency Support: 1,500,000 Personal Belongings Coverage: 20,000 Trip Disruption: 3,000 – 50,000 | Worldwide: 2,100 |
| Zurich Breezy Travel Insurance Plan – Prime Plan | Medical and Emergency Support: 1,500,000 Personal Belongings Coverage: 25,000 Trip Disruption: 1,600 – 50,000 | Worldwide: 3,104 |
| Chubb Life Chubb TravelWell Annual Protection Plan – Worldwide Plan 3 | Medical and Emergency Support: 1,000,000 Personal Belongings Coverage: 20,000 Trip Disruption: 3,000 – 50,000 | Worldwide: 2,509 |
Benefits of Buying Annual Travel Insurance
- Suitable for frequent international travelers, so you don’t have to buy and pay for insurance before every trip
- If you travel abroad often, it can save you money on overall travel insurance costs
- Ideal for long journeys that cover multiple countries or regions
Is Annual Travel Insurance Worth It?
Annual travel insurance is designed for frequent flyers, so let’s break this down: How many trips a year make buying an annual policy cheaper than getting single-trip coverage? We’ve looked at the premiums for the six plans mentioned earlier, using short trips (like a 5-day jaunt to Japan) and long trips (such as a 14-day adventure in the UK) for the calculations. Turns out, it’s a smart move if you’re planning at least 6 short trips or 2 long trips annually.
| Travel Insurance Plan | How many short trip premiums does the annual premium equal? (Japan 5-day trip) | How many long trip premiums does the annual premium equal? (UK 14-day trip) |
| FWD (FWD) MyTravel Insurance – Superior Plan | 10.1 times | 5.6 times |
| BOCG Insurance Universal Voyage Travel Insurance Plan – Diamond Plan (with Upgraded Coverage) | 5.5 times | 3 times |
| Blue Cross Smart Travel – Premium Plan | 7.5 times | 2.9 times |
| Starr TravelLead Travel Insurance – Supreme Plan | 10.9 times | 5.5 times |
| Zurich Breezy Travel Insurance Plan – Prime Plan | 6.7 times | 3.2 times |
| Chubb Life Chubb TravelWell Annual Protection Plan – Worldwide Plan 3 | 11.8 times | 1.6 times |
4 Key Things to Watch Out For
Coverage Period for Each Trip
Although an annual plan provides coverage for 12 months, these policies still impose limits on individual trips, typically up to 90 days. So, even with annual coverage, if a single trip exceeds 90 days, the protection will be void. On the flip side, single-trip plans often cover up to 180 days, making them a better fit for extended stays like living abroad or visiting family. Annual plans, however, are ideal for frequent travelers whose trips are usually under 90 days each.
Destination
Some insurance providers offer “Asia” or “Worldwide” options for annual travel insurance plans. Before purchasing, it’s wise to plan your destinations for the coming year to avoid buying only “Asia” coverage and then realizing you need extra protection for trips to North America or Europe.
Age Limits for Coverage
Whether it’s an annual or single-trip plan, travel insurance generally has age restrictions, with the maximum insurable age varying by product—typically between 65 and 80 years old.
Scope of Coverage
If you’re opting for an annual plan due to multiple trips in a year, don’t just compare premiums—also check if the coverage fits your needs. Different trips might involve various destinations and activities (some could include high-risk areas or adventurous pursuits), so make sure you fully understand the policy terms and exclusions.
Should You Get Health Insurance On Top Of Travel Insurance?
Overseas hospital stays and surgeries can be extremely expensive, and if the costs exceed your travel insurance’s payout limits , you’ll end up footing the bill yourself. That’s where having a health insurance* plan comes in handy—it can help cover those medical expenses and ease the financial burden.
- * Different health insurance plans offer varying coverage areas, so consumers should review the terms and conditions before purchasing and claiming.
Why Bowtie Pink is the Perfect Partner for Travel Insurance
Bowtie Pink VHIS comes with several standout features, making it a great health backup for travelers of all ages, whether you’re a kid or a senior:
- Available for individuals aged 15 days to 80 years
- Worldwide coverage ^ applicable
- Global emergency support services
- Full reimbursement 1 for any hospital, any surgery
- Annual limit: Up to HK$20,000,000 (reset annually)
- Premiums as low as HK$168 per month #
- ^ Excludes the US and non-designated hospitals in China; psychiatric treatment is limited to Hong Kong.
- # Based on a 25-year-old non-smoker opting for Bowtie Pink (Ward) with a deductible of HK$80,000.
- 1 Full reimbursement means no sub-limits and applies only to specified benefits. Payouts are subject to remaining deductible (if applicable), annual limits, lifetime limits, and other factors including reasonable and customary charges, pre-existing conditions, designated hospitals in mainland China, and US treatment restrictions. For full product terms, conditions, risks, and exclusions, please refer to the relevant product website and policy.
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