Cheap Travel Insurance
Purchasing cheap travel insurance isn't particularly difficult, although finding the right plan to suit your circumstances is often a little harder. Travel insurance is typically used to cover any travel related risks which may include factors before your trip such as last-minute cancellations due to illness, weather conditions, or even terrorist attacks. There are also certain risks that are covered during your trip which generally include coverage for emergency/accidental care, medical evacuations, missed connections and travel delays, lost/stolen baggage, and many more. You will generally find that travel insurance can be purchased for both domestic and international trips and can be used for single trip options or even annually.
There are two basic types of travel insurance plan and these are:
The Package Plan - this is the most common type of travel insurance policy or plan that is purchased, as it is able to provide coverage in many different forms from one simple plan. This type of travel insurance policy will typically include medical emergencies, medical evacuation, lost baggage, trip cancellation, missed connections, and a few other forms of coverage.
You are able to purchase an extremely basic package plan that will generally provide less coverage and lower coverage levels. This will generally be the cheapest type of travel insurance you can purchase. However, there are also numerous premium plans which will offer top-of-the-line benefits and have extremely high limits. A package plan is most often used by families, vacation travelers, senior travelers, cruise travelers and business travelers.
Travel Medical Plans - this type of travel insurance policy will provide emergency medical treatment, medical actuation coverage, and emergency assistance. This type of travel insurance plan is generally used by US citizens traveling abroad either as expatriates, or on business assignments. It can also be used by foreign citizens visiting the US such as parents traveling from abroad to visit their family in the US. It is also used for any traveler who is leaving their home country.
The vast majority of domestic and international travelers will find that their travel insurance needs will fall into one of these two categories. However, there is a third category which can include evacuation only plans, flight accident plans, annual plans, and accidental death plans. You should be aware that these are specialty plans, and therefore the coverage that they provide is very specific.
There are many reasons that a traveler may choose to purchase travel insurance, and this will typically vary from person to person. Many people simply want to know that they have some form of medical coverage whilst traveling abroad, whereas other travelers may be worried about losing their money if they are forced to cancel. There are also those who have deep concerns about either losing their luggage or travel documents, and often the extreme costs of emergency medical evacuations can be of deep concern.
There are many travel insurance companies who offer specialized niche travel insurance plans. These policies are designed for specific groups of people such as students, golfers, senior citizens, or people taking a cruise. As previously mentioned, there are also travel insurance policies that specifically focus on travel medical plans and evacuation plans.
The price of travel insurance will vary depending on the type of plan you have, the coverage you require, and indeed many other factors. You will generally find that a package plan may cost somewhere up to 7% of your total trip cost. Therefore, if your trip is believed to cost around $5000, you can expect to purchase a package plan for approximately $350. In order to find the cheapest travel insurance policy many travelers begin their search online. This will typically involve your travel insurance company of choice having far less expenses and overheads, and these savings are generally then converted into the price of your policy.
If you are aware of the type of travel insurance policy require, purchasing this online is extremely simple. There is a wide variety of insurance companies to choose from, although you should always look to purchase travel insurance from a reputable company. As mentioned, the maximum you should look to pay for a cheap package travel insurance plan will be a maximum of 7% of the total cost of the trip. However, if you are specifically looking for a travel medical plan you should find that this will cost as little as a few dollars per day. The package policies are amongst the most popular type of travel insurance because they generally provide comprehensive and all-inclusive coverage. Nevertheless, if you want to keep the cost of travel insurance to the bare minimum, you can still find single trip and annual trip policies at far cheaper rates. These types of policies will generally not offer as comprehensive a cover, although the coverage and protection they provide you should be ample for your needs.