5 Features of a Good Travel Insurance Policy 

5 Features of a Good Travel Insurance Policy 

Last Updated:

Travelers have more ways to protect their trip than ever before. Aside from purchasing directly from a travel insurance company, you can now find policies offered through airlines, cruise lines, credit cards, and hotels. 

As an experiment, take note of how many times you’re offered some form of travel insurance the next time you book a trip. We think you may be surprised.

With so many options now available, it’s helpful to know what sets the good travel insurance policies apart from the not-so-good ones. 

What to look for in a travel insurance policy

Understanding what constitutes a good travel insurance policy can save you time when comparing plans. Two policies may look identical on the surface, but only one may be a good fit for your trip. 

Below are some features to consider the next time you need travel insurance. 

1. Well-rounded benefits

In short, travel insurance policies are made up of a combination of different benefits. Travel insurance benefits outline the specific type of protection a policy will offer. The more benefits a policy offers, the more opportunities you have to file a claim if your trip takes a turn for the worse. 

The most common travel insurance benefits you’ll likely encounter throughout your search include: 

For the most well-rounded coverage for a trip, we recommend purchasing a comprehensive travel insurance plan. This type of policy is unique because it includes popular cancellation benefits and provides the most protection against common travel disruptions. 

2. High coverage limits for key benefits

A policy’s coverage limit specifies the maximum dollar amount that will be reimbursed if a claim is filed. Most policies will offer strong coverage in some areas, and less protection in others. 

A simple solution to finding a good travel insurance policy for your trip is to identify the few benefits that are most important to you. From there, you can determine the minimum amount of coverage you need in order to travel with peace of mind. 

For example, for international travelers, we recommend plans with at least $50,000 in Emergency Medical coverage and $100,000 in Medical Evacuation coverage. Setting similar boundaries for other benefits can help narrow down your search. 

3. Competitive pricing

The cost of a travel insurance policy is referred to as its premium. Providers will take into account your age, trip length, and other trip details to determine the premium for their plans. 

When searching for insurance, you’ll see a wide range of prices for similar coverage. Just because one plan costs more does not mean that it offers better protection for your trip. We always recommend purchasing the lowest priced policy that meets your coverage needs. 

4. Reputable provider

No matter what we’re trying to purchase, reviews and ratings can help us identify companies that can be trusted. The same is true for travel insurance. When comparing policies, take a moment to read through reviews from previous customers. 

Travel insurance reviews can highlight a company’s legitimacy and provide insight into the quality of a company’s customer service. If a provider, for example, is constantly receiving complaints about their claims process, it may be a good idea to exclude them from your search. 

5. Generous Free Look period

A Free Look period provides travelers with an opportunity to cancel their policy for a full refund, no questions asked. The best travel insurance companies include a free look period to protect their customers from making a decision they regret. 

Free look periods range dramatically depending on the policy. A good travel insurance policy will give you at least 10-14 days to review your policy and make changes to your coverage penalty-free. 

A simple way to compare policies

The only way to know you’re getting the best coverage at the lowest possible price is to shop around. While this may sound like a time-consuming process, it’s now faster than ever to see how plans compare side-by-side. 

Simply visit a travel insurance comparison site, like Squaremouth, and enter some basic details about your trip. Within minutes, you’ll be able to review policies from top-rated providers. From there, it’s easy to view how plans compete on things like cost and coverage.