Renewable Travel Insurance Coverage

What is a Renewable Travel Insurance Policy?

Renewable Policies are a type of travel insurance coverage that can be extended by a policyholder before their policy’s expiration date. Plans that offer renewals can typically be extended for 12 – 24 months, depending on the policy.

Not all travel insurance policies are eligible for renewal, and this benefit typically only applies to select annual plans.

To renew a travel insurance policy, you must contact your insurance company before your coverage is set to expire. Refer to your policy’s Certificate of Insurance to see renewal eligibility requirements, details, and exclusions.

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FAQs: Renewable Travel Insurance Policy

How Do I Renew an Annual Travel Insurance Policy?

A traveler may choose to renew their annual travel insurance policy for a variety of reasons. Most often, a traveler will renew their policy out of convenience and because they’re satisfied with the travel protection the plan provides.

Renewing a policy is essentially the same as purchasing the same coverage again, with your new policy starting immediately after your current one expires.

This is typically a quick process, as a lot of your information and billing details will already be on file with your travel insurance provider. Renewals can take place online or over the phone, with some providers allowing for seamless auto-renewals.

When renewing an annual plan, you may be required to update certain details, such as your age, the approximate number of trips you plan on taking, and the estimated length of the longest trip you plan on taking during your coverage period.

What’s The Difference Between Travel Insurance Renewals and Extensions?

Renewable Policies and Extension of Coverage are both travel insurance benefits that involve prolonging one’s travel insurance coverage. However, they are different in the way in which they are applied.

Extension of Coverage is a much more common benefit, and is a feature of the majority of single-trip plans. In short, a travel insurance policy can be extended if you’re unable to return home on your scheduled return date for reasons outside of your control, such as inclement weather or an unforeseen medical emergency. In most cases, a policy can be extended for 5-10 days at no additional cost to you.

Renewable Policies are different in the fact they’re most commonly a feature of annual travel insurance plans. Policies are commonly renewed voluntarily, rather than out of necessity, and involve paying additional premium for further coverage.

How Can I Renew My Travel Insurance Policy?

If you have purchased a travel insurance policy that allows renewals, the best way to extend your coverage is to contact your travel insurance company’s 24 Hour Assistance Services directly.

From there, your provider may be able to handle your request over the phone or instruct you to complete the remainder of the renewal process online. Your provider will also be able to provide the effective date of your renewal, as well as any other additional information you may need.

To be granted renewal, you must continue to meet your plan’s eligibility requirements.

How Does A Travel Insurance Renewal Impact Premium?

Travel insurance companies will factor in details such as your age, state of residence, and coverage needs when determining your premium for annual travel insurance.

Assuming your travel details remain the same, your premium, meaning the cost of the policy, will remain relatively the same if you choose to renew your coverage.

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Please be aware that coverage and eligibility requirements for this benefit differ by policy.

Looking for a policy with Renewable Policy coverage?

Enter your trip information on our custom quote form. Once you receive your results, select the Renewable Policy filter to find the best policy for your trip with the coverage that you need.