Cheap Travel Insurance International; Robust travel insurance can reimburse you for lost deposits if you need to cancel your trip, pay for medical expenses while you’re traveling, and much more. But you don’t want the purchase of travel insurance to break the bank.
The biggest factors in the cost of travel insurance are generally the total cost of travel, the number of travelers, your age, and the length of your trip. According to expert analysis, the average cost of travel insurance is between 5% and 6% of your travel costs. Here in this guide on cheap travel insurance international, we evaluated different travel insurance policies to find the best cheap travel insurance international.
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Best Cheap Travel Insurance International 2023
- National: Best for a missed connection
- Travel insurance: best for non-medical evacuations
- Trawick International: Best for medical and evacuation benefits
- WorldTrips: Best for additional coverage
- Seven Corners: Best for medium cost
How To Find The Cheap Travel Insurance International
1. Be a smart travel insurance shopper
As with most insurance policies, comparing policies from multiple carriers can potentially save you hundreds of dollars. Travel insurance often includes most of the same benefits, but the price and coverage amounts can vary significantly by policy, says Steven Benna, a spokesperson for Squaremouth, a travel insurance comparator.
A good place to start is to check out Advisor’s ranking of the best travel insurance companies.
A travel insurance agent can also be helpful. That person can help identify the coverage you want and then compare options.
2. Understand exactly what can be insured under a travel insurance policy
You can avoid overspending on travel insurance by knowing exactly what to insure, says Benna. For example, it is important to understand that travel cancellation insurance will only reimburse you for prepaid and non-refundable travel expenses. So don’t buy cover for the refundable parts of your trip, advises Benna.
For example, if you booked a hotel for five nights for a total of $5,000, but the cancellation fee is $1,000, you would insure the $1,000. You cannot claim travel insurance for amounts that are refunded.
3. Check your credit card’s travel insurance benefits
The best travel insurance credit cards have perks and insurance benefits built in. The key here is that you need to charge that credit card for the entire trip.
“This benefit may include cancellation coverage for travel expenses paid with that card, in addition to baggage coverage,” says Benna. He points out that instead of paying for travel insurance, you can save money by relying on the cancellation benefits of a credit card.
If your travel expenses exceed the credit card’s coverage limit, you can purchase travel insurance for the remaining amount, Benna notes. This makes the policy cheaper than insuring the full travel costs.
4. The value of travel insurance should be more important than the cost
Cost should not be the only factor when purchasing travel insurance. A cheap travel insurance policy that does not offer good benefits does not pay off in the end.
5. Avoid unnecessary travel insurance
Be careful about buying coverage or upgrades that you probably don’t need.
For example, many travelers buy a ‘cancel for any reason’ upgrade in addition to the standard trip cancellation insurance. It adds an average of 50% to the cost of your travel insurance. The upgrade gives you a partial reimbursement of travel costs if you cancel for a reason that is not stated in the basic policy, for example, because you had a fight with your travel companion.
“However, if your main concern is covered by trip cancellation, such as canceling due to an illness or a family member’s illness, you can be covered without spending the extra money to add ‘cancel for any reason.
Another example: you don’t need $2,500 luggage insurance if you bring $200 worth of t-shirts, shorts, and a swimsuit.
You may also not need travel medical insurance if you do not leave the country during your trip. This may be especially true if you primarily go shopping, eating out, and sightseeing and don’t participate in many outdoor activities such as hiking and biking. Your U.S. health insurance will usually cover you if you get sick or injured while on a domestic vacation.
And if you’re booking a trip at the last minute, canceling a trip might be less of a concern.
That’s why it’s a good idea to think about why you want travel insurance. Don’t go along with the policy with most of the bells and whistles you don’t need. Instead, research what coverage would benefit you the most.
6. Consider purchasing annual travel insurance
If you make one or two trips a year, it makes sense to take out travel insurance for each trip. But if you plan multiple trips, it becomes inconvenient and expensive to buy a policy for each trip.
Annual travel insurance policies are primarily designed to provide travel medical insurance for multiple trips, and at a better overall price.
These types of annual policies can make it easier to buy just one policy instead of several and can be a travel insurance solution for people planning to take multiple domestic flights. However, an annual travel policy may not make sense if you take road trips.
Basic annual policies also offer limited trip cancellation and trip interruption coverage.
Conclusion – Cheap Travel Insurance International
Here in this guide on cheap travel insurance international, we have evaluated different travel insurance policies to find the best cheap travel insurance international. The biggest factors in the cost of travel insurance are generally the total cost of travel, the number of travelers, your age, and the length of your trip.