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Travelers Insurance Prices
- The cost of traveler's insurance depends on the company, coverage and trip length. It tends to cost between five and fifteen percent of the total cost of the trip, which means international travel insurance will cost proportionately more than insurance purchased for a domestic trip.
- For a young, healthy person traveling for a couple of weeks, coverage can be purchased for as little as $5 per day.
- Those with a medical history, being treated for an existing condition or engaging in risky activities could pay as much as $20/day.
Most travelers insurance covers some combination of the following:
- Medical: doctor visits, prescription drugs, lab work, ambulance and surgery.
- Emergencies: airlift evacuation due to an injury, a long hospital stay due to injury and a flight home for serious illness or injury.
- Trip cancellation: if your travel provider goes out of business and cancellation due to personal illness, a death in the family or other events that keep you from traveling.
- Delayed or interrupted trip: flights delayed 2 hours or more are refunded as a percentage relative to the total length of the delay.
- Lost, damaged or stolen luggage.
- Emergency dental procedures.
- Emergency support: for things such as baggage claims, money transfers, lost or stolen items, and legal aid.
- Accidental death or disability.
- Rental car coverage
- Some plans may include a deductible and co-payment.
- “Cancel for any reason” insurance costs 40-50% more.
- Inclement weather insurance, sometimes called “hurricane insurance”, protects policy holders against storms that leave them stranded.
- If paying for a trip with your credit card, the credit institution offers limited coverage. Check with them for details.
- Travel medical insurance for international trips may be provided by your existing health care provider. However, it isn't a good idea to depend on them as a source of travel health insurance, as many do not protect their customers once they leave the country.
- Homeowner's insurance may protect some personal property.
Shopping for travelers insurance:
- Shop around for policies and make sure to read the fine print, as there are many subtle differences that may or may not suit your needs. Check for things like 24 hour service that will become useful in the case of an emergency. Also, make sure you know how long it takes to be reimbursed for a claim.
- A travel agent can be an excellent resource for purchasing travel insurance.
- Compare travel insurance online at TravelInsurance.com.