What Affects The Price Of Travel Insurance And How To Find The Right Travel Insurance For Your Needs
There are number of things that affect the price of travel insurance. Some factors you can control, while other factors you have less control over. Being aware of the factors that affect the price of your insurance will help you to find the right travel cover for you at the cheapest possible price.
Your Age
Your age affects the insurance premium though there is nothing you can do about it. The older you are - the more impact your age will have on the price. You should however shop around as not all insurance companies base their insurance premiums on the same age brackets.
Choice Of Travel Destination
Your choice of travel destination also affects the price of your insurance. It is always cheapest if you are only travelling domestically, as you will already have access to local health care and your local insurances (health, home, etc).
The price of international travel insurance depends on which countries you are travelling to, as some countries are more expensive to travel to than others. Insurances tend to be more expensive to countries that operate partly public and partly private healthcare systems (compared to those that offer only, or mainly, public healthcare systems).
Though you might not want to let the price of travel insurance decide solely where you are travelling, it could still be beneficial to know the difference between different locations. For example, what if insurance for Italy were cheaper than for Spain...
The Length Of Your Trip
The length of your trip can affect your travel insurance premium. Most insurance providers offer insurances in brackets based on different length of the trip. Reducing your trip by a day or two could reduce your insurance premium if the length of your trip is close to one of those brackets.
If you have annual multi-trip travel insurance in place then it will state how many maximum days each trip can be. Make sure you stay within that limit.
Annual Multi-Trip Travel Insurance
You generally have to travel only two or three times a year to save money with annual multi-trip travel insurance.
There is however one notable exception. Most multi-trip travel insurance policies have an upper age limit, usually between 65 or 74 year old. Many senior travelers have therefore no other option than to buy single trip travel insurance for each trip.
Your Health / Pre-Existing Medical Conditions
Your health, or rather lack of it, can significantly affect the price of your insurance premium. If you suffer from any pre-existing medical conditions, you must declare them when buying your travel insurance.
Pre-existing medical condition is any condition or illness that you are suffering from at the time you buy your insurance, or have suffered from previously. Cancer, diabetes and heart conditions are all examples of pre-existing medical conditions that can affect the cost or eligibility of coverage.
You can usually include some pre-existing medical conditions in your insurance policy but the price of the insurance will go up accordingly, often considerably.
Remember, your insurance is invalid if a pre-existing medical condition flares up and you had not declared it.
The Extend Of Your Cover And Your Excess Level
What you choose to cover and for how much, as well as the excess level you choose, have all significant affect on your travel insurance premium. The price of travel insurance goes up:
The more you coverThe higher the covered amount isThe lower the excess level is
What you cover and for how much will depend on how much risk you are willing to take. Choose carefully, saving few dollars is not always worth it.
Tips On Saving Money will help you to find the cheapest international travel insurance for your needs.
Asa Gislason and her husband are the founders of http://www.top-travel-tips.com/. Top Travel Tips offers comprehensive and unbiased travel advice that can save you both time and money when planning your next trip.
Posted by Ikhwanesia.com
on 03.51. Filed under