How To Find
You can ask your travel agent for help selecting a reliable travel insurance policy, or you can shop online. Most travel tour companies will offer travel insurance options, but they often cost more than if you buy a policy directly through a travel insurance company. If you decide to shop around, make sure that you’re comparing similar plans, since much variation exists in price, as well as in what you can expect. To help you weed through your options, you can visit the US Travel Insurance Association's website and browse the member directory. There are also a number of comparison tools available online through some of the popular travel websites. Some websites that can help you explore the options that exist include InsureMyTrip, TripInsuranceStore and QuoteWright. If you prefer to go directly to the insurance companies themselves, a few to consider include Insurance Services of America, Access America and Global Travel Shield.
Cost For Travel Insurance
What you spend on travel insurance depends on the cost of your trip and the level of coverage that you desire. Remember that the older you are, the more you can expect to pay for travel insurance coverage. The longer the trip and the farther the distance you plan to travel will also increase the costs of the travel insurance.
Depending on the type of travel insurance you desire, you can usually find different levels of coverage to select one that meets your needs and your budget. Often there is an economy option, as well as a more generous package that provides the ultimate level of coverage. Many people find a travel insurance policy somewhere in the middle of the price spectrum that will provide them with the peace of mind they need without being excessive. Most travel insurance plans range from about 4 to 10 percent of the total cost of your trip. This means that if you’re planning a getaway that costs $5,000 total, your travel insurance will cost between $200 and $500, depending on your age and the level of coverage you want. While this may seem like a lot to add when you’re already splurging on a trip, if you have to cancel before you go or your travel is interrupted, you’ll be glad that you invested in a travel insurance policy that will cover your expenses or help you pay to reschedule.
You can expect the cost of travel insurance to be between 4 and 10 percent of the total price of your trip, which comes out to between $4 and $10 for every hundred dollars you pay on your trip cost.
A Final Note
While travel insurance is a worthwhile investment in many cases, it’s only as good as the policy you get. If what you select has too many exclusions or doesn’t reimburse enough to justify the cost, you could be throwing your money away. To help make a good travel insurance policy more affordable, it can be worthwhile to search online and look for discount offers and coupon codes that can help lower the costs.
Last Updated: Sep 01, 2011