Why is age important when purchasing travel insurance? Published by Chris Harvey August 11, 2008 When purchasing travel insurance. the premium is based on the insured’s age, trip cost and trip length. Related articles: One of the members of our family is much older than the rest of us. Does that effect the premium? What does "baggage delay" cover? What is "International Medical" travel insurance? My travel insurance policy excludes hazardous sports? What is considered a hazardous sport? I have already departed from my primary place of residence. May I purchase cancellation insurance for a return trip home?