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5 Tips to Trim Travel Insurance Costs Without Skimping on Coverage

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ST. PETERSBURG, FL December 13, 2012 – Understanding just a few travel insurance benefits can save travelers hundreds of dollars according to Squaremouth, America’s fastest growing travel insurance comparison site.

1 – Don’t insure trip costs that aren’t eligible for reimbursement

Any pre-paid, non-refundable trip costs are eligible to be insured on a policy. However, over insuring does not mean the policy will provide additional coverage. “The premium rises with the trip cost a traveler enters, however, because travelers are required to provide documentation in the event of a cancellation, they would only be reimbursed for what they actually spent on travel arrangements,” says Chris Harvey, CEO of Squaremouth.

2 – Don’t purchase the “cancel for any reason” benefit unless you really need it

Cancel for any reason” is a benefit that allows travelers to cancel a trip up to two days before scheduled departure without providing a reason. However, it does not reimburse 100% of trip costs and usually increases premium by about 40%. Squaremouth recommends travelers review trip cancellation benefits to see if their reason to cancel is already included before they spend extra money on “cancel for any reason” coverage.

3 – Avoid excessive emergency medical and evacuation maximums

Travelers sometimes overestimate the costs associated with evacuation and medical treatment and purchase much higher maximums than they really need. For instance, the average emergency medical evacuation costs less than $40,000, so a policy with $1,000,000 in evacuation benefits may be far more coverage than most travelers will ever realistically need and a likely waste of money.

4 – Research existing baggage and personal items loss coverage from credit cards benefits

Many policies include modest coverage for baggage and personal items loss, but travelers should consider other cheaper options before upgrading travel insurance policies to higher maximums for these benefits. “Many travelers already have baggage and personal items loss benefits through major credit cards and homeowner’s or renter’s insurance policies,” says Harvey. “Sometimes, the coverage provided through these alternatives is actually better than what is offered through travel insurance, so we recommend travelers check out these options before purchasing coverage they might already have elsewhere.”

5 – Opt for higher medical deductibles

Another way to reduce premium is to choose coverage with a higher medical deductible. If a traveler is willing to pay increased costs in the event of a medical emergency, their premium may be reduced. However, Squaremouth cautions travelers to make sure that the savings in premium is worth these potential expenses.

About Squaremouth
Squaremouth is America’s fastest-growing travel insurance comparison site, providing the tools to instantly quote, compare and buy policies from every major provider. The company is headquartered in St. Petersburg, FL, with offices in Fort Wayne, IN. For more information on Squaremouth or its extensive network of partner sites worldwide, visit

About our Zero Complaint Guarantee
The cornerstone of Squaremouth’s commitment to customers is the guarantee to remove any provider with a customer complaint that cannot be resolved to Squaremouth’s satisfaction. Squaremouth offers the broadest selection of insurance, with an emphasis on quality, follow-up care, and independent evaluations from insurance industry watchdog, AM Best.

Chris Harvey
Toll-free (800) 240-0369 x 6103
Direct (727) 490-5802

Jenna Gravino
Toll-free (800) 240-0369 x 6112
Direct (727) 502-6849