April Travel Protection has launched an annual insurance plan that, it says, is the first in the industry to include trip cancellation.
The Annual/Multitrip Preferred plan has launched on TravelInsurance.com, an insurance comparison and booking portal. It includes a number of benefits, including trip cancellation, interruption, missed connection and emergency medical.
According to an April spokesperson, the policy is commissionable for agents who sign up with April as a distribution partner.
Most annual policies, April said, don't have trip cancellation benefits and trip interruption is usually capped at a set amount. April's new policy has both benefits as well as the ability to enhance coverage limits in increments of $1,000.
"Benefits can be repeatedly drawn from over the course of a 12-month period until the total limit for each benefit is depleted," April said.
The policy can also be upgraded with benefits like rental car collision damage and increased coverage for baggage and personal effects.
The plan starts at $75.
Stan Sandberg, co-founder of TravelInsurance.com, called the policy "truly innovative" as well as "one that we believe will be popular with our customers."