© Provided by CBS News One of the most effective ways to find competitive rates is to compare different travel insurance providers. / Credit: d3sign / Getty Images
If you're a frequent traveler, you're probably already familiar with the benefits of travel insurance: from cancellation and delay savings to essential medical coverage , the list of things covered is extensive.
With travel insurance, you can be reimbursed up to 100% of the travel expenses covered by your plan. This is important for more expensive vacations, especially on busy trips like international travel and vacations , where costs are higher and potential complications are greater.
There are some easy ways to save money on a travel insurance policy . One of the most important steps you can take to save some money on your plan is to decide how much coverage you need. Often the best way is to take out a comprehensive travel insurance policy.
Enter your trip and traveler information on the SquareMuth site to view dozens of travel insurance policies that fit your needs. Don't wait, start evaluating your options now!
Determine the required amount of travel insurance
When deciding how much travel insurance you need, you should consider these factors:
- Price
- Cover
Price
Travel insurance costs 5% to 10% of the total cost of the trip, according to Squaremouth Travel Insurance Marketplace. In the year In 2019, before the Covid-19 pandemic, the average cost of a comprehensive travel cancellation policy was about $354, the site reported. Meanwhile, a policy without cancellation coverage was around $80.
When researching policies, try to stay within the recommended limits. If your total is more than this value, you are probably paying too much.
"It's a common misconception that a more expensive travel insurance policy provides better or more reliable coverage. However, the quality and reputation of a travel insurance policy doesn't affect the policy's premium," Squawze explains, adding, "Always recommend the least expensive" to meet your coverage needs.
When looking for travel insurance policies, you can sort the list from lowest to most expensive to see the cheapest options available. look out.
Cover
Coverage and cost go hand in hand. The more coverage you have, the more expensive your plan can be. Again, most travel experts recommend finding the cheapest plan that still has the coverage you need.
Generally, a basic comprehensive plan that includes benefits like trip interruption, delay and cancellation, medical emergencies and more is sufficient for travelers.
Here's what you should ask yourself before buying travel insurance:
- How much does my trip cost?
- What are my planned activities?
- Who am I traveling with and do they need coverage?
- Does my destination have insurance requirements?
- Do I need medical cover and if so how much?
- Do I need additional travel insurance?
Answering these questions will help you avoid unnecessary coverage. Each plan is different, but coverage amounts and benefits may vary. Decide exactly how much you need. For example, Squaremouth recommends international travelers have $50,000 in emergency medical coverage and $100,000 for cruises or trips to remote locations.
Carefully review all the details of your travel insurance policy. For an affordable basic plan, search Squaremouth now
Buy travel insurance plans
One of the most effective ways to find competitive rates is to compare different providers and policies. SquareMuth claims to have over 100 policies for travelers to compare at any time.
To see the prices and plans you qualify for, please enter the following information:
- Travel information: departure and return dates, destination
- Passenger information: residence, nationality, number of passengers and age
- Total cost of the trip: Total cost of the trip, date of deposit, pending payments and more.
After filling out SquareMouth's simple form, you can view the results and view dozens of different policies and rates. Don't forget to click on "Full Policy Details" to get a full view of the provider's offerings. As Squaremouth suggests, buy a plan that is affordable and meets all your needs.
