Annual Travel Insurance: Premium, Coverage, and Age Restrictions
Wondering if you should purchase annual travel insurance or single trip insurance? It depends on how frequent you travel, your budget and requirements for coverage. If you often travel or go on business trips, opting for annual travel insurance may be more cost-effective!
Let’s check out our quick comparison between annual and single trip travel insurance that helps you decide which one is more suitable for you.
Let’s check out our quick comparison between annual and single trip travel insurance that helps you decide which one is more suitable for you.
Annual Travel Insurance VS Single Trip Travel Insurance
| Annual Travel Insurance | Single Trip Travel Insurance | |
|---|---|---|
| Coverage | Annual Travel InsuranceBoth provide coverage for medical expenses, trip cancellation, trip curtailment, flight delay, and loss of personal belongings. | Single Trip Travel InsuranceBoth provide coverage for medical expenses, trip cancellation, trip curtailment, flight delay, and loss of personal belongings. |
| Maximum trip duration | Annual Travel Insurance90-100 days per trip | Single Trip Travel Insurance180 days per trip |
| Area of Cover | Annual Travel InsuranceWorldwide | Single Trip Travel InsuranceWorldwide |
| Premiums | Annual Travel InsuranceHK$1,000-HK$3,000 | Single Trip Travel Insurance~HK$100-300 (depending on coverage, lengths of travel and destination) |
| Frequency | Annual Travel InsuranceOnce a year | Single Trip Travel InsuranceEvery time you go traveling |
| Age Restrictions | Annual Travel InsuranceLower (generally between 69-80 years old) | Single Trip Travel InsuranceHigher (Up to 85 years old) |
| Suitable for | Annual Travel InsuranceFrequent travelers | Single Trip Travel InsuranceInfrequent travelers |
Best Travel Insurance
| Travel Insurance | Premiums as low as | Features |
|---|---|---|
| Travel Insurance MSIG iTravel Plus (Single Trip) Plan B | Premiums as low as HK$110.60 | Features
|
| Travel Insurance BOCG Insurance Universal Voyage Travel Insurance - Gold Plan (Worldwide) | Premiums as low as HK$268.80 | Features
|
| Travel Insurance AXA SmartTraveller Plus Superior Plan (Single Journey) | Premiums as low as HK$221 | Features
|
| Travel Insurance STARR Companies TraveLead Extra Plan | Premiums as low as HK$108 | Features
|
| Travel Insurance Dah Sing Insurance JourneySure Travel Insurance - Gold | Premiums as low as HK$115.5 | Features
|
| Travel Insurance Generali Bravo Travel Protector - Classic Plan | Premiums as low as HK$188.25 | Features
|
Annual Travel Insurance VS Single Trip Travel Insurance - Age Restriction
| Yearly Holiday Insurance | Age Restriction (Single Trip) | Age Restriction (Annual) |
|---|---|---|
| Yearly Holiday InsuranceAXA SmartTraveller Plus Superior Plan (Single Journey) | Age Restriction (Single Trip)Not applicable | Age Restriction (Annual)75 years old, and it can be renewed to 80 years old |
| Yearly Holiday InsuranceGenerali Bravo Travel Protector - Classic Plan | Age Restriction (Single Trip)79 | Age Restriction (Annual)72 |
| Yearly Holiday InsuranceDah Sing Insurance JourneySure Travel Insurance - Gold | Age Restriction (Single Trip)85 | Age Restriction (Annual)65 |
| Yearly Holiday InsuranceMSIG iTravel Plus (Single Trip) Plan B | Age Restriction (Single Trip)85 | Age Restriction (Annual)75 |
| Yearly Holiday InsuranceBOCG Insurance Universal Voyage Travel Insurance - Gold Plan (Worldwide) | Age Restriction (Single Trip)80 | Age Restriction (Annual)80 |
| Yearly Holiday InsuranceSTARR Companies TraveLead Extra Plan | Age Restriction (Single Trip)Not applicable | Age Restriction (Annual)75 years old, and it can be renewed to 80 years old |
Best Annual Holiday Insurance
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Generali Bravo Travel Protector - Classic Plan
- Medical Expenses
- HK$1,000,000
- Trip Cancellation
- HK$20,000
- Loss/Damage of Baggage
- HK$15,000
- Premium Premium
HK$2,58020% Off - HK$2,064
Enjoy 30% OFF your Generali Travel (Single) Insurance premium!
Does not require excess, and the coverage includes medical expenses, leisure sports (including skiing, scuba diving, bungee jumping, etc.), natural disasters, terrorist attacks and personal belongings such as electronic communication devices and sports equipment. The plan also offers optional cruise cover, providing you and your family with more protection.
special_promotion
Promo code "MS202401"
Dah Sing Insurance JourneySure Travel Insurance - Gold
- Medical Expenses
- HK$500,000
- Trip Cancellation
- HK$20,000
- Loss/Damage of Baggage
- HK$15,000
- Premium Premium
HK$1,75025% Off - HK$1,312.50
【Dah Sing Insurance Special Offer】
From 1 July – 30 September 2026, using Promo Code "MS26Q3TS " to enjoy 25% off premiums with Dah Sing Insurance — secure more, spend less!
From 1 July – 30 September 2026, using Promo Code "MS26Q3TS " to enjoy 25% off premiums with Dah Sing Insurance — secure more, spend less!
Offers family plans. With the premiums for two people, the plan can provide coverage for two parents and an unlimited number of children aged below 18 years old. The plan covers personal accidents and medical expenses, with compensation amounts up to one million Hong Kong dollars. The plan covers insurable loss of trip cancellation or curtailment due to the issuance of Amber, Red and Black Outbound Travel Alerts.
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AXA SmartTraveller Plus Privilege Plan
- Medical Expenses
- HK$1,000,000
- Trip Cancellation
- HK$50,000
- Loss/Damage of Baggage
- HK$15,000
- Premium Premium
HK$29035% Off - HK$188.50
【AXA Exclusive Offer】
Purchase AXA travel insurance products via MoneySmart to enjoy 35% off discount
✈️Annual Promotion:
- 3-month Free Cover for first year
- HKD200 cash allowance for food poisoning (First year only)
- Personal Accident (ADPD) – Double Indemnity
Does not have age restrictions in place. Children covered under the same policy as their parents, regardless of the number, can enjoy free protection. The plan covers medical expenses incurred from illness or accidental injury, as well as the cost of follow-up treatments within 3 months after returning to Hong Kong.
MoneySmart Exclusive
35% off Promo code "MSHK35"
STARR Companies TraveLead Extra Plan - Annual Plan
- Medical Coverage (Overseas)
- HK$1,000,000
- Trip Cancellation
- HK$25,000
- Loss/Damage of Baggage
- HK$10,000
- Premium Premium
HK$1,70035% Off - HK$1,105
🌟【 Moneysmart July Exclusive】
From Jul 22 until Aug 2, purchase Starr Extra/ Supreme Annual Travel Insurance Plan during the flash sales period to get an Apple AirTag (value HK$249).
🌴【MoneySmart Summer exclusive 70,000 Asia Miles Giveaway】
From July 2 to August 2, customers who successfully purchase a designated Travel Insurance Plan via MoneySmart with a minimum premium of HK$150 per policy, and answer a creative question via the claim form. The 10 most creative entries will be selected as winners and stand a chance to win 7,000 Asia Miles, equivalent to a one-way flight ticket to Taiwan! (automatically converted from 14,000 SmartPoints and directly credited to the Cathay membership account)
🎁 [All Customers can choose]
- AIRSIM HK$20 Travel SIM Prepaid Card ^ OR
- AIRSIMe eSIM * OR
- Bowtie VHIS 40% off first-year premium + Comprehensive Dental Service 1 time^^
Offers free protection for underage children, with medical coverage up to HK$1.5 million, covering amateur sports such as diving and skiing.
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- Medical Coverage
- HK$1,000,000
- Trip Cancellation
- HK$40,000
- Loss/Damage of Baggage
- HK$15,000
- Premium Premium
HK$2,01910% Off - HK$1,817.10
Enjoy 20% OFF your BOCG Travel (Single) Insurance premium!
Covers high-risk activities including zip-lining, parachuting, whitewater rafting, diving, hiking, and hot air ballooning, with double compensation for personal accidents up to HK$2,400,000. The plan also protects against travel disruptions caused by Black Outbound Travel Alerts, including delays, cancellations, and shortened trips.
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MSIG iTravel Go Plan B
- Medical Expenses
- HK$500,000
- Trip Cancellation
- HK$25,000
- Loss/Damage of Baggage
- HK$15,000
- Premium Premium
HK$23445% Off - HK$128.70
【MSIG Limited Time Offer】
Apply on or before 31 July 2026 to enjoy premium discount and the following rewards:
Enjoy 45% off with promo code "MSMART" (for Single Trip Travel products)
Enjoy 35% off with “MSMART” promo code (for Annual Trip Travel products)
MSIG Easy Lounge Service (Complimentary airport lounge access when flight delay)
Overseas Medical Teleconsultation benefit
Or Enter Cathay membership no. to earn Asia Miles:
HK$3 net premium spent = 1 Asia Mile
Offers HK$500,000 in personal accident coverage. If your mobile phone is lost or damaged during your trip, you can enjoy up to HK$2,000 in coverage. Additionally, the plan compensates for non-refundable travel and accommodation expenses, up to HK$50,000.
Things to Consider When Purchasing Annual Travel Insurance
Not Suitable for Infrequent Travelers
Single trip insurance is better suited for those who travel less frequently each year. The premiums for single trip travel insurance are generally cheaper, and policyholders have the flexibility to adjust their coverage based on their budget, the number of people, itinerary, and activities.
Conversely, annual travel insurance is ideal for those who frequently travel, even if it's just for weekend trips to places like Shenzhen or Macau. It is really convenient as there is no need to purchase insurance for every trip and it has lower premiums than single trip insurance.
Conversely, annual travel insurance is ideal for those who frequently travel, even if it's just for weekend trips to places like Shenzhen or Macau. It is really convenient as there is no need to purchase insurance for every trip and it has lower premiums than single trip insurance.
Maximum Duration of Coverage
When purchasing annual travel insurance, it's important to pay attention to the maximum duration of coverage for each trip. While single trip insurance generally covers a period of up to 180 days, the maximum duration covered by annual travel insurance for each journey typically ranges from 90 to 100 days. This means if your trip exceeds the maximum coverage duration (i.e., 90 or 100 days), the insurance company will not accept any claims for that trip.
If you're planning a trip that exceeds the coverage period specified in the policy, you may need to purchase additional single trip insurance to cover the extra days of your journey.
If you're planning a trip that exceeds the coverage period specified in the policy, you may need to purchase additional single trip insurance to cover the extra days of your journey.
The Destination Has a Significant Impact on the Premium
Some travel insurance plans charge based on the destination. Premiums for single trip insurance vary depending on the destination, with long-haul travel typically costing more than short-haul.
Annual Travel Insurance Typically Has a Lower Age Limit
While both single trip and annual travel insurance both have age restrictions, the maximum age for annual travel insurance generally ranges from 69 to 80 years old and the maximum age for single trip insurance is up to 85 years old.
Frequently Asked Questions
Is annual travel insurance or single trip insurance more suitable for me?
- Single trip insurance is better for travelers who travel infrequently. In contrast, annual travel insurance is ideal for those who travel frequently, including short weekend getaways to places like Shenzhen or Macau.
How many trips per year make annual travel insurance more cost-effective?
- The cost-effectiveness of annual travel insurance compared to single trip insurance depends on how often you travel and when you travel. You need to travel quite frequently within Asia to make it more cost-effective. But for trips to Europe and America, it doesn’t have to be.
What are the benefits of buying annual travel insurance?
- Annual travel insurance suits frequent travelers, providing convenient and continuous coverage for multiple trips throughout the year, including short visits to nearby destinations. It saves the hassle of purchasing insurance for each trip and generally offers lower average premiums compared to single trip insurance.
Should I buy annual travel insurance or overseas student insurance if I'm going abroad for an exchange semester?
- Since the coverage of each trip in an annual travel insurance policy typically ranges only from 90 to 100 days, it may not be sufficient for an exchange program that lasts for a semester. Therefore, purchasing overseas student insurance, which is specifically designed to cover longer periods abroad, would be more appropriate.