Travel Insurance FAQ

I just want cancellation coverage. Do I still have to buy the other benefits?

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Most travel insurance policies consist of a package of benefits that cover a number of different traveler needs. Trip cancellation, trip interruption, emergency medical and medical evacuation coverage are some of the most popular benefits travelers look for.

However, many travelers just want to insure their prepaid, nonrefundable expenses in case they have to cancel the trip for one of the reasons listed on a policy.

There are travel insurance plans that just offer trip cancellation coverage, but what travelers may not realize is that just because a plan has fewer benefits doesn’t mean it will be less expensive.

The price of a travel insurance policy depends on a number of factors. Trip cost, trip length, travelers’ ages, and additional upgrades all affect the premium. In many cases travelers will find that, for them, other plans are cheaper even when they include additional benefits.

This is why it benefits travelers to compare multiple policies, narrow it down to the ones that meet their specific needs and pick the least expensive of those, even if it includes extras. There is no benefit to spending more money on a cancellation only plan if there is a cheaper option with even more benefits.