What is the difference between single-trip and annual travel insurance?

Whether you’re exploring iconic cities or visiting family living abroad, with a travel medical emergency insurance plan, you can get coverage for eligible medical expenses. You could also get coverage for some eligible out of pocket expenses (such as meals, accommodation, or transportation expenses) that may occur in connection with an emergency while you’re on vacation outside of your home province or territory of residence.

Let's start by uncovering what a single-trip and annual travel insurance plan mean and what are some of the differences between both the plans.

A single-trip travel insurance plan covers eligible emergency medical expenses for one trip outside of your home province or territory - coverage begins on your date of your departure and ends on the date you return. This type of travel insurance may be a good fit if you’re looking for emergency medical coverage for a one-time trip. You may even be able to purchase a top-up or extension insurance for extra coverage days if you need to extend your initial trip length.

An annual medical travel insurance or multi-trip medical plan, provides coverage for several trips taken outside of your home province or territory within a 12-month period. The plan provides coverage per trip up to a chosen maximum number of days, which means if your particular trip extends further than the expected return date you will not be covered by the plan for the additional days unless you decide to top-up or extend the existing policy. If you are planning multiple trips over a 12-month period, you can consider an annual travel insurance plan. 

TD Insurance Travel Insurance offers:

• Up to $5 million in emergency travel medical coverage. With the TD Insurance Multi-Trip Medical Plan, your coverage resets for each covered trip you take up to your chosen maximum trip duration, over a 12-month period.
• 24/7 multilingual emergency assistance by phone worldwide.
• Coverage for up to 212 days if you apply online or up to 365 days if you apply over the phone for the TD Insurance Single-Trip Medical Plan.¹ 
• Convenient quotes, application and claims servicing online and over the phone.

There are various TD Insurance travel insurance options that could be suitable for all kinds of travellers:

• For medical emergency coverage on a one-time getaway, learn more about the TD Insurance Single-Trip Medical Plan.
• Looking for travel coverage for you and your family on multiple trips throughout the year? TD Insurance Multi-Trip Medical Plan may be right for you.
• Get coverage for eligible trip cancellations and interruptions with the TD Trip Cancellation and Trip Interruption Insurance Plan.
• You can get a wide range of coverages, including medical benefits, trip cancellation and trip interruption, lost baggage, accidental death and more with the comprehensive annual TD Insurance Multi-Trip All-Inclusive Medical Plan. This plan covers your spouse and dependent children at no extra cost.²
• Need to add extra days of coverage or increase the coverage amount for your existing travel insurance plan? You can top-up online with Top-up or Extension Insurance from TD Insurance.

The difference between single-trip and annual travel insurance lies in their cost-effectiveness and coverage duration, which varies based on your travel plans and how many trips you’re planning to take & insure throughout the year. Consider the unique benefits of annual travel insurance and single-trip travel insurance, and choose the one that best fits your needs, preferences, and budget, as well as a plan that can help provide coverage in case of certain eligible unexpected events while travelling. Go ahead and enjoy a relaxing vacation, knowing that you have travel insurance. Safe travels!