Planning For Your Trip
One of the last things you want to worry about before traveling is some sort of accident happening along the way.
However, it is always possible that an accident happens and leaves you wishing you had protection. Travel insurance is a great way to back your trip with solid protection in case of any emergencies. However, do you need to break the bank? Or, are there cheap travel insurance options available that cover most of your worries? We have compiled a few tips on how to find travel insurance that will work best for your trip and your wallet.
What Type Of Trip Are You Taking?
Is this meant to be a backpacking trip across Europe? How much traveling do you plan on doing? How many cities do you plan on visiting? These are important questions because they could raise your rates and have you pay more than you are willing to lose. Certain insurance companies are better for different types of trips and destinations. If you haven’t planned all the details for your trip, it may be beneficial to look at some travel insurance plans and decide to work out trip details that better line up with what your coverage will protect.
Look For Coverage Specific To Your Area of Travel
Different insurance companies are better when visiting certain areas. For example, there are a few travel insurance agencies that specialize in travel in regions like Southeast Asia. These insurers are preferred because they have a better idea of what kind of travel expenses you will require. This will result in a more efficient quote that will only cover the bare bones of what you need to cover.
Ask Other Travelers
Whether you frequent travel blogs or you have friends who have climbed Mount Everest, have a conversation with them about picking the right insurance. This doesn’t necessarily mean to pick whatever coverage they chose, but try to examine how they went about the process.
Take Stock Of What You Want To Be Covered
Take the time to get a full inventory of all the things you will be doing and taking on your trip. Try to prioritize the list by grouping items into categories based on value, both monetary and sentimental. At some point in the list, you should see a divide in items or destinations where you feel like you can’t lose the items above that line. It can be useful to bring this to an agent you trust to try to find a plan that will cover most, or all, of those essentials.
Try Different Languages
While most companies have interpreters that will speak in your preferred language, don’t be afraid to branch out. You can search for insurance companies in other countries that you may normally skip due to the language barrier. If they have no translators available, send them an email using a translate program or google search. Reach out to these insurance companies that you would normally ignore and try to work through the language barrier; it could pay off in the long run.
Don’t Rush Into The First Good Option
Many people rush to settle for cheap travel insurance the second they get an offer for coverage. You want to take your time and evaluate all your possible options. Some offers can even be leveraged to provide an extra boost to your budget for your upcoming trip.
Do The Math
How much are you actually willing to budget for this trip? How much of that are you planning to use for insurance? Travelers vary widely in what they prefer to pay for their travel insurance.
Some Insurance Options
We have compiled a list of a few providers that travelers have preferred and have found to offer cheap travel insurance that covers a large portion of their needs. If your insurance of choice isn’t on this list, feel free to get quotes from any of these firms and decide if you’re willing to switch.
This insurance is a favorite of outdoor travelers. If you’re planning on backpacking across Europe or biking through Asia, this insurance might be the best pick for you. They have coverage options for travel both inside and outside the United States. Their rates typically vary between $25 and $40 and offer coverage up to $50,000 in most plans with an average deductible of about $250.
Allianz Global Assistance
This is one of the more advanced firms on the market, as you can apply for coverage through their mobile app. Their coverage options typically allow for amounts of $10,000, $25,000, and $50,000. It is important to note that Allianz does not offer passport protection coverage in the event of a lost or stolen passport. This option can be a bit more pricey with coverage costs ranging from $100 to $150 depending on your chosen amount.
If you are looking for a quick way to find cheap insurance, this website is the streamlined tool you need. Their quote finder program allows you to easily input information and get an idea of your rate instantly. Your trip will be insured in case of accident or sickness for up to $100,000 and they will even cover up to $1,000 or $3,000 of stolen property. This is a catch-all insurance that currently offers coverage for over 150 different activities and adventures. This is the plan for people who want to test their adrenaline while they’re traveling. They also offer a 24/7 helpline with multi-lingual operators for emergency assistance. Plans cost between $120 and $160.
When looking to mix and match different coverage, Travel Guard offers that amount of versatility. They offer customization options where you can prioritize different areas of your trip. If you are more worried about a trip cancellation than medical assistance, you can opt to have a higher amount of coverage for that purpose. Most of their plans cover up to $100,000 in losses. With the high amount of customization, there is a wide variety in the pricing, $75 to $150.
RoamRight has a three-tiered coverage offering that will cover cancellations, evacuation, and medical expenses for your trip. There is not a lot of coverage for sports injuries, so adrenaline junkies may want to pick another insurance. Their basic plan will cost about $79, with their Preferred and Elite plans priced at $93 and $143, respectively. If you do end up purchasing an Elite plan, you can add $1,000 of sports injury coverage for an additional fee of $25.
This is a company that comes highly recommended by professional travelers. Some coverage options will pay back 150% of your losses in the event of an accident. The extensive coverage will cost a bit more than the other companies, with their low-level plan priced at $144 with the max coverage option at $224.