Can I Buy More Than One Travel Insurance Policy for the Same Trip?
You can never be too cautious when planning a trip. Whether you’re traveling domestically or abroad, travel insurance is the best way to protect against unforeseen events that could impact your trip and limit out-of-pocket costs.
Can I Buy Two Travel Insurance Policies?
Yes, it is possible, and sometimes wise, to purchase multiple travel insurance plans for the same trip. While a single travel insurance policy is enough for most trips, there are situations where purchasing multiple plans for the same trip can be beneficial.
When Does it Make Sense to Purchase Another Travel Insurance Policy?
Common reasons a traveler might purchase more than one travel insurance policy include:
- Increasing Coverage Limits: If an existing policy doesn’t offer adequate medical coverage, you may decide to purchase an additional policy to achieve better protection.
- Filling Coverage Gaps: Since policies vary in what they cover and exclude, a second plan can help address gaps in coverage not fully covered by the primary policy.
- Adding Specialty Coverage: Certain trips, such as cruises or adventure travel, may require specialized coverage that isn’t included in a traditional travel insurance plan.
- Supplementing Credit Card Benefits: Credit card travel insurance often has lower reimbursement rates and little to no medical coverage, which may lead you to purchase a stand-alone travel medical plan.
Important Tips for Buying More Than One Travel Insurance Policy
If you’re considering purchasing a second travel insurance plan for your trip, there are a few important tips to remember.
Policies Must Be from Different Travel Insurance Providers
If the insurance coverage available in one policy does not satisfy your needs, you can purchase an additional coverage plan for further protection. However, the different policies must be from separate travel insurance companies with different underwriters.
If you want improved protection from your current provider, you can contact them directly to make adjustments to your coverage before you depart. For example, if you purchase a medical-only plan from IMG and decide later that you want to protect your travel expenses, you can purchase a cancellation-only plan from a different provider to supplement your existing coverage.
Travel Insurance Claims Can Only Be Paid Out Once
The most important thing to remember when purchasing multiple travel insurance policies is that travelers can’t “double dip” when it comes to filing a claim. In other words, purchasing multiple policies for the same trip doesn’t mean you can receive multiple payouts for the same disruption.
For example, if you experience a delay and file a claim under one plan, you are not legally able to file a claim for that delay under your other plan.
More Coverage Does Not Always Mean Better Coverage
In some cases, upgrading or customizing a single travel insurance policy may be more cost-effective and efficient than buying multiple plans for a single trip. When looking for coverage ahead of your trip, it’s important to consider the added complexity of managing multiple policies against the actual benefit of carrying more than one plan provides.
Taking time to tally your coverage needs ahead of your trip can help you avoid doubling up on travel insurance. If you need assistance picking out the perfect plan, our award-winning customer service team is just a phone call away.
How to Avoid Overlapping Travel Insurance Coverage
While purchasing more than one travel insurance policy can provide added protection, overlapping coverage can create confusion during the claims process. To avoid paying for benefits you don’t need, there are a few proactive steps you should take before purchasing multiple plans:
- Compare Benefits, Not Just Coverage Limits: Review each policy’s benefits side by side to ensure you’re not insuring the same risk twice. If your existing policy offers adequate medical coverage, for example, the next policy you purchase doesn’t need to offer high reimbursement rates in this category.
- Avoid Duplicating Cancellation Coverage: Comprehensive plans that offer Trip Cancellation coverage can be expensive. Since you can only claim a disruption once, it makes sense to have only one of your plans offer cancellation protection.
- Review Exclusions Carefully: Even when coverage appears similar, exclusions can differ. If your existing coverage has exclusions that may impact your ability to file a claim, make sure that the same limitations don’t apply to the next plan you purchase.
- Reach Out for Assistance: Comparing plans side by side or consulting a licensed travel insurance advisor can help ensure your coverage is complementary rather than repetitive.
What Happens If I Purchase Another Travel Insurance Policy By Accident?
Mistakes can happen when planning a trip, from booking flights for the wrong dates to reserving a hotel in Paris, TX, instead of Paris, France. Luckily, traveling with too much travel insurance coverage won’t make or break your trip.
If you end up purchasing an insurance plan you don’t need, there’s a chance you can “return” the policy and get a complete reimbursement. Every travel insurance policy listed on Squaremouth has a Free Look Period. During this time frame, typically 10-14 days, you can cancel your policy and get 100% of your premium back. If you’re within your Free Look Period and wish to cancel, we recommend contacting your travel insurance provider directly.