How to Compare Travel Insurance Prices

Travel insurance is a type of policy that vacationers take out as protection in the event that something happens that requires them to cancel their trip or return home unexpectedly. Possible cancellation reasons may include illness, death in the family and hurricanes. Travel insurance can also be used to reimburse for medical expenses that a person incurs while on vacation. Before you settle on a travel insurance plan, learn how to compare prices.

Difficulty: Moderately Easy

Instructions

1. Use a travel insurance price comparison engine. Give the engine information about your trip to compare inclusions and rates from different companies. For example, SquareMouth has a simple-to-use engine that displays results from over a dozen insurance carriers.

2. Look at the coverage amount given for the travel insurance plan. Each plan will give you maximum benefits paid for each circumstance. Look at the capitation amounts for trip cancellation, medical coverage, travel delay, travel loss and death or dismemberment.

3. Find out the inclusions and exclusions of each quoted travel insurance plan. For example, you'll want to see if the travel insurance company will pay benefits to individuals with pre-existing medical conditions.

4. Determine the coverage offered based on your health insurance status. Some insurance plans will pay benefits whether you have a health insurance plan. Other policies only offer payment for the remaining balance that your health insurance plan did not cover.

5. See how much the travel insurance company charges for each additional traveler. You may be given a per traveler rate or a package price. In some instances, children under the age of 16 qualify for protection under the policy for free or a reduced rate.

References

• Financial Web

Resources

• SquareMouth