Many travelers want to know, “Who has the best deals for travel insurance?”
There is no easy answer to this question. It is hard to single out 1 travel insurance company as having the best deals. Each company, and more importantly, each policy, has different coverage and levels of coverage. Therefore, they have different prices.
Cheap is not always the best way to go
The important thing its to get the coverage you need. It will do you no good to buy the cheapest trip insurance plan, but not have coverage for that lost suitcase or missed flight.
Decide what coverage is most important to you, and how much. Every plan varies. If you are going abroad, and want to make sure you have medical coverage, you will want to pay special attention to the travel medical policies. If you are concerned with a last minute cancellation due to the illness of a sick family member, you will focus on trip cancellation insurance, or “cancel for any reason” coverage.
Here are the steps to finding the best deals for travel insurance:
- Decide what coverage is most important to you and your trip
- Compare travel insurance using a comparison site (see How to Compare Quotes with a Travel Insurance Comparison Site)
- Find the policies with the coverage you are comfortable with, then look for a price that works for you
It’s that simple.
To give you an idea of how the different the premiums can be, here is a comparison chart of the rates from various companies and plans. This is a quote for a 30 day trip, trip cost of $10,000, medical coverage of $10,000, for 2 32 year-old travelers:
|CSA Travel Protection||Freestyle||$617|
|Travel Guard||My Travel Guard||$627|
|Travel Guard||Essential Expanded||$682|
|American Express||Global Travel Shield Classic||$722|
|Travel Insured||Worldwide Trip Protector||$756|
|Travel Guard||Protect Assist||$790|
|CSA Travel Protection||Freestyle Luxe||$823|
|American Express||Global Travel Shield Deluxe||$842|
|Seven Corners||RoundTrip Choice||$859|
|Access America (now Allianz Travel Insurance)||Classic||$870|
|HTH Worldwide||Trip Protector||$918|
|M.H. Ross||Enhanced Extra!||$1,041|
|Global Alert!||Preferred Plus||$1,051|
|HTH Worldwide||Trip Protector Preferred||$1,114|
|Travel Insured||Worldwide Trip Protector Gold||$1,137|
|RBC Travel Protection||Standard||$1,146|
|Travel Guard||Cruise, Tour & Travel||$1,226|
|RBC Travel Protection||Deluxe||$1,259|
As you can see, there is a big gap between the cheapest and the most expensive plan. You can bet there is more coverage for the Deluxe plan from Access America, and less coverage in the Essential plan.