Do not shop for Travel Insurance based on Price Alone

Every traveler is looking for the best deal and no one likes to feel they’ve paid more than they should have, but when it comes to insurance it’s hard to judge what an insurance benefit in hand is worth until you need it. Shopping for travel insurance based solely on price may leave you wishing you’d spent a little more.

Of course, putting together a comprehensive list of everything that can go wrong on vacation is impossible, but it’s also impossible to put together a comprehensive list of everything that can go wrong with your health, or your home, or your car – that’s why you have insurance protecting those things back home.

Travel insurance is no different – it provides coverage for the things that might go wrong

Shopping based on price alone may get you a bare bones policy that’s cheap, but it may not provide the coverage you need if something happens.

No one wants to think about what can go wrong, but:

• If you can’t afford to lose all the money you paid for a trip, then having ‘cancel for any reason’ coverage could provide a lot of peace of mind.
• If your children are too young to be on their own and you want to be sure they are safe if something happens to you, then having emergency evacuation coverage may be just what you need.
• If your son or daughter is planning a student trip away from you and you want to be sure they have medical coverage, student travel insurance is just the ticket to ensuring their safety.

What risks will you face?

So, how do you know you are covered for the most likely risks? Think a little about who you are, the level of risk you and your personal financial situation can tolerate, and who is coming with you on your trip. Think a little about where you are going, the dangers you might run into, and the coverage you want. See the complete travel insurance coverage guide to understand travel insurance coverage and the options available to you.

Summary

• Shopping based on price alone could leave you wishing for more coverage
• Using a comparison engine helps you choose the right plan based on the coverage you need for your trip
• An important step to understanding what travel insurance coverage you need is knowing what’s available

Related topics

• What does travel insurance cost?
• 9 coverages that might surprise you
• What to do if you have a medical emergency