Travel Insurance FAQ

Who has the cheapest travel insurance?

Who has the cheapest travel insurance?

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Travel insurance is not one size fits all. Because of the ways premiums are determined, and the variety of travel insurance options, there are no definite answers as to who offers the cheapest travel insurance.

How are premiums determined?

Multiple factors affect the price of travel insurance, and like any type of insurance policy, higher risk means higher premiums. The number of travelers, ages of travelers, and trip length will affect most policies. For trip cancellation policies, the cost of the trip will also heavily affect the premium.

Additional options that can be added to a policy, like the cancel for any reason benefit or hazardous sports coverage, will also increase the premium of the policy. The cancel for any reason benefit will typically increase the overall premium by around 40%.

Can I remove options to decrease my travel insurance premium?

Typically, travel insurance policies are sold as packages of benefits, and there usually isn’t a way to remove certain benefits to make the plan cheaper. In some cases, medical deductibles can be increased, which can result in cheaper policies.

Are there any travel insurance discounts?

There are no discounts in travel insurance. Because it is regulated at the state level, discounting insurance is considered illegal. Purchasing a policy through a comparison site or agent should cost the same as purchasing the same policy through the travel insurance provider directly.