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What is 1 year travel insurance?

In addition to arranging transportation and accommodation, obtaining travel insurance has become an important preparatory step for modern travelers when planning their trip. Among them(also known as annual travel insurance) is an insurance plan designed for people who travel frequently. Unlike traditional one-time travel insurance, it provides continuous coverage for up to 365 days, during which the insured can enjoy unlimited travel protection (typically a maximum of 90 days or 180 days per trip, for example). This insurance model is particularly suitable for government officials who travel abroad multiple times a year, families of international students, backpackers who love to explore the world, or businessmen who need to travel between locations from time to time.

The biggest advantage of a one-year contract over single-term travel insurance is its cost-effectiveness and convenience. Taking the Hong Kong market as an example, if a business person travels five times a year, the cost of purchasing one insurance policy is about HK$300, and the total annual expenditure can reach HK$1,500. And the comprehensive oneWith a cost of just HK$1,200-1,800, you'll not only save money but also save yourself the hassle of rushing to get insurance before you leave. Additionally, this type of insurance typically covers a wider range of contingencies, such as temporary additional stopovers or short detours during your trip, and is automatically covered.

Keep in mind that while 1-year insurance is flexible, certain conditions still apply. Insurance companies typically require the insured to have their primary residence (e.g., Hong Kong) during the insurance period and not exceed the maximum number of consecutive days specified in the conditions of each trip. Long-term international travelers or travelers planning to take a gap year should opt for a special long-term travel insurance plan.

The Need for 1 Year Travel Insurance

According to data from the Hong Kong Travel Industry Council, the number of Hong Kong residents leaving the country in 2023 more than doubled compared to the previous year, with a significant increase in the proportion of business travel and frequent leisure travel. In this context, the need for one-year travel insurance is mainly reflected in three levels: First, there is a large disparity in healthcare costs around the world. Taking a common acute appendicitis surgery as an example, the cost is about 2-5 Hong Kong dollars in Southeast Asian countries, but can be as high as 20-50 Hong Kong dollars in European and American countries. If you don't have insurance, these unexpected expenses can take a toll on your finances.

Second, it is difficult to predict unforeseen risks during travel. In addition to accidents caused by illness, it also includes:

 

 

• Cancellations due to abnormal weather (Southeast Asian routes during typhoon season, etc.)
• Theft (300 per 100,000 inhabitants in popular tourist cities in Europe)
• The need for emergency evacuation due to political instability or natural disasters (earthquakes, volcanic eruptions, etc.).

One-year insurance provides a continuous risk transfer mechanism, ensuring that travelers receive immediate protection, whether it's a last-minute weekend pop-up or a significant business trip.

More importantly, the "comprehensive protection net" offered by this type of insurance goes beyond the scope of traditional accident insurance. For instance:

 

• Overseas liability protection: If you accidentally injure others at the ski resort, you can get compensation of up to HK$1 million
• Emergency family visits: Cover travel expenses for relatives to visit abroad in case of serious illness
• Pet emergency medical care: Medical expense subsidy if a companion pet becomes ill during travel

These meticulously detailed protective items are the go-to choice for modern travelersThere are core values.

What is covered by 1 year travel insurance?

A standard one-year travel insurance policy typically includes six main protections, each with specific claim terms and maximum amounts. The following table compares the typical coverage of major insurance companies in Hong Kong.

 

Warranty Items	Basic Plan (Approx. HK$800 per year)	Comprehensive Plan (Approx. HK$1500 per year)
Accidental death and disability	HK$1,000,000	HK$300
Medical expenses (including sudden illness)	HK$200,000 per incident	unlimited
Emergency Rescue Services	Medical Transport, Telephone Translation	It includes the return of the body and arrangements for the accommodation of relatives
Delayed/lost baggage	The maximum amount per piece of luggage is HK$3,000	The total amount is HK$2
Trip Cancellation/Shortening	Reward: 50% of the fee paid	Full coverage + additional accommodation subsidy
Personal Liability Insurance	HK$500,000	HK$2,000,000

It is worth noting that the key to distinguishing travel insurance from general accident insurance is the "emergency rescue service". For example, if an insured person is involved in a serious car accident in a remote area, the insurance company will coordinate with the international SOS agency to provide medical jet transfers, and the cost of such services may exceed HK$1 million. In addition, some high-end policies extend coverage to:

 

• Adventure activities: accidental injuries caused by sports such as skiing or diving
• Damaged electronics: phone or laptop repair costs
• Lost travel documents: quick charges for reissuing documents and temporary accommodation

一年旅遊保險

Consumers are comparingThe differences between these detailed protections should be carefully compared.

How to choose the right 1-year travel insurance for you?

Choose the right oneSystematic evaluation is required. The first step is to analyze your personal travel patterns: if you are traveling mainly to European or American countries with high medical costs, you should give preference to plans with higher medical insurance coverage. If you frequently travel with valuable photographic equipment, you should be aware of the property damage limit. According to the Hong Kong Federation of Insurers, business travelers should pay special attention to the "travel delay" clause, such as whether additional accommodation charges incurred due to the postponement of the meeting are eligible for the fee.

Assessing your risk tolerance is equally important. Young and healthy backpackers only need basic insurance, but people with chronic medical histories and older travelers should make sure that:

 

• Presence or absence of pre-existing diseases (most companies have strict restrictions on hypertension and diabetes)
• Whether the cost of overseas follow-up consultations will be paid
• Does it include medical expenses related to infectious diseases such as the new coronavirus?

In additionWhen comparing platforms, special attention should be paid to the "exclusions" clause. Some common exclusions include:

 

• Injured in a professional sports competition
• Losses from war and terrorism
• Accidents that occurred under the influence of alcohol and drugs

Finally, the service network of the insurance company is crucial. A quality supplier should have:

 

• 24-hour multilingual helpline
• Partnerships with international rescue organizations such as SOS International
• simpleClaim Request Process
• Financial soundness characterization recognized by the Hong Kong Monetary Authority

Consumers are advised to review the Bureau of Claims Complaints Bureau's annual report to understand each company's claims dispute rate before purchasing insurance.

How to apply for 1-year travel insurance

HyundaiInsurance is very simplified, and most businesses can complete the entire process in less than 10 minutes. Taking a well-known insurance company in Hong Kong as an example, online insurance involves the following five steps:

 

1. - Choose a Coverage Plan: Choose a basic/comprehensive plan based on your travel frequency and destination
2. Entering insured information: age, type of occupation, etc. (high-risk occupations such as pilots must be declared separately)
3. Health declaration: Be honest about your past medical history (hiding it may void your claim)
4. Premium Payment: Electronic payment tools such as credit cards and FPS are available
5. Receive e-Insurance: Receive your insurance policy PDF file instantly via email

It is worth noting.It varies depending on the age difference, and the insurance premium for the elderly over 60 years old can be 2 to 3 times higher than that of the younger generation.

Offline insurance is suitable for complex situations that require expert consultation. For instance:全年旅遊保險價錢

 

• Journalists planning a trip to war-torn areas
• Pregnant women who need to travel during pregnancy (most companies have a limit on the number of weeks of pregnancy)
• Business travelers with valuable business equipment

Insurance brokers can help you interpret the details of the conditions, such as whether your "personal belongings" contain jewelry in your checked baggage. Whichever method you choose, be sure to check the policy when you receive it.

 

• Whether the effective date of the benefit is correct
• No errors or omissions in personal information
• Special terms and conditions (e.g. list of covered hazardous sports)

Insurance claim application process and precautions

In the event of an insurance event, a systematic handling process can significantly improve the success rate of insurance claims. First, the insured must immediately:

 

1. Call your insurance company's emergency assistance number (must be clearly stated on your insurance policy)
2. Take basic measures according to different situations, such as obtaining a detailed diagnosis certificate when visiting a medical accident, reporting property damage to the local police, and obtaining a report number
3. Collect all originals, including medical receipts, proof of ticket change costs, and bills for essential items

Taking baggage delay as an example, if the airline confirms that the baggage is delayed for more than 6 hours, it should keep the delay certificate issued by the airline, and the receipt for purchasing the necessary clothing and toiletries should clearly state the purchase time and product details.

The statute of limitations for claims is usually within 30-90 days of the accident, and the documents to be submitted include:

 

• Claim application form (downloadable from the official website)
• Original Policy
• identification papers
• Accident certificate (doctor's note, police certificate, etc.)
• Original receipt of expenses

In recent years, most companies have launchedThe billing service allows you to upload documents from the mobile app, and the claim processing time is reduced to 7-10 business days. However, keep in mind that expensive claims (such as medical transfer costs) must be mailed to the original documents for confirmation.

To avoid disputes over claims, we recommend the following:

 

• When you see a doctor, explain to your doctor the relationship between your injury and the travel accident
• Before receiving non-urgent treatment, contact the medical institution recommended by your insurance company
• Keep a record of all correspondence (e.g. postal correspondence with insurance companies)

網上旅遊保險

If you dispute the outcome of your claim, you can apply for free mediation with the Claims Complaints Bureau of the Hong Kong Federation of Insurers.

frequently asked questions

Q1: PurchaseIf I temporarily add a destination to my itinerary, do I need to notify my insurance company?

Under normal circumstances, as long as the new destination is not in the "non-covered area" listed by the insurance company (such as Afghanistan, Syria or other war-torn countries) and the number of travel days does not exceed the maximum duration of a single trip (usually 90 days), you can automatically receive coverage without declaration, as stipulated in your insurance policy. However, if you are planning to travel to an area where the CDC has issued a Level 3 travel alert, it is recommended to consult with your insurance provider beforehand.

Q2: Buy from a price comparison siteI would preferentially but is there a difference in the claims service?

Price concessions usually result from the difference in channel fees, and the standards for claims services must match those purchased directly from the insurance company. However, you should check if the price comparison site is an authorized agent of the insurance agent and whether the insurance company issues the policy directly. It is advisable to choose a price comparison platform recognized by Hong Kong's insurance authorities and verify the reliability of the policy directly with the insurance company.

Q3:What are some common misconceptions when filling out a health declaration when taking out insurance?

Some of the most common mistakes include not declaring a pre-existing condition (such as a recovered thyroid nodule), misinterpreting family history as ineligible for declaration, and not updating indicators of a recent abnormal physical examination. The Insurance Companies Ordinance requires policyholders to have the highest duty of good faith and to disclose material facts that may affect underwriting decisions without the insurer actively inquiring. If unsure, it is recommended to over-disclose it to the insurance company or confirm it in writing.

Protect your journey all year round

Today, when globalization has become commonplace,It has transformed from a luxury item to a standard equipment for smart travelers. It's not just an economic buffer against the healthcare crisis, but also an invisible guardian throughout the year's journey. Whether it's emergency support for a lost laptop during a business trip or medical coordination when a child suddenly develops a high fever during a family trip, a well-designed year-round policy can give people confidence in a foreign land. Consumers are encouraged to review changes in travel patterns annually and adjust their coverage in a timely manner to ensure that this invisible safety net is always in sync with the pace of travel. After all, true travel freedom begins with being fully prepared for unknown risks.