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Price vs. Benefits: When buying travel insurance, which is more important?

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When comparing policies on, most travelers find that while multiple policies are available, the prices for those plans can vary greatly. There are a few key points to consider that may help making a travel insurance purchase a little easier.

1 – Many plans are more similar than they are different

This is not to say that every plan is the same, but travelers often find that travel insurance policies include the same main benefits. The covered reasons for cancellation may vary slightly, as may the limits for emergency medical and medical evacuation coverages.

2 – Pay attention to benefit limits

Check to see if there are any differences in coverage limits for the emergency medical, medical evacuation and other benefits if one policy is more expensive than another. Differences in benefit limits often explain the price differences between policies.

3 – Choose the cheapest plan

A cheap price isn’t necessarily a reflection of the product’s quality. Because many travel insurance policies are similar in the benefits they offer, the cheapest plan is often the best choice as long as it meets a traveler’s specific needs. Many times particular plans are less expensive for certain types of travelers. This happens when a traveler’s profile hits a plan’s “sweet spot”. In the end, travelers should be looking for the least expensive plan that suits their needs.