What Affects The Price Of Travel Insurance
International Travel Insurance Quote
Many factors can affect the price of your international travel insurance quote. Some of them you can control, like where you are going and for how long. Other factors you have less control over, like your age and your health.
Still being aware of which factors affect the price of your travel insurance will help you to find Best Travel Insurance cover for you and at the cheapest insurance travel price possible.
Knowing What Affects Your
Travel Insurance Can Save You Money
Your age does affect the price of travel insurance but not much you can do about that... strictly speaking.
However, insurance providers charge different premium on different age brackets. The older you are, the more important it is to compare the age brackets, and the premiums involved.
Choice Of Travel Destination
Where you are going also affects the price your international travel insurance quote. Most insurance companies divide the world into four main areas (and sub areas there under). It is your home country, USA, Europe and the rest of the world (ROW)... this is of course only three areas if your home country is the US.
It is always cheapest if you are only travelling within your home country, as you will already have access to local health care and your local insurances (health, home, etc). So why would you need travel insurance if you are only travelling domestically? Because despite this safety net you are unlikely to be covered by many things that are normally included in travel insurance policies, i.e. lost baggage, cancellation, delays, etc.
Travelling to US for non-American means more expensive travel insurance. This is mainly due to the health system in the States, i.e. tourists have to go private, and it can be very expensive... and your price of travel insurance will reflect that.
The price of travel insurance for travelling within Europe will depend on which countries in Europe you are visiting, as some countries are more expensive to travel to than others are. Insurance tends to be more expensive to countries that operate partly public and partly private healthcare systems (compared to those that offer only, or mainly, public health system).
Top International Travel Insurance Quote Tips
If you are EU or EEC citizen then you should always travel with European Health Insurance Card (EHIC) when you are travelling in EU (or EEC) countries. The EHIC Card gives you access to free, or reduced cost for medical treatment in those countries.
EHIC though only covers your medical cost in limited situations and does not provide you with any other benefits that are usually included in travel insurances.
The rest of the world consists of many different countries and some countries are considered higher risk than others... and therefore more expensive to get travel insurance to visit them. The health system they operate and the distance from your home country have impact here, but other factors can also play a role, e.g. the political stability in the country, the risk of terrorism or natural disasters, etc.
How Often You Travel
Annual multitrip travel insurance is a good way of saving money on travel insurance for those that travel frequently. Find out if Annual Multitrip Travel Insurance is right for you or not.
The Length Of Your Trip
The number of days you are travelling for also affects the price of your international travel insurance quote. Most insurance companies offer insurances in price brackets based on different length of the trip. Reducing your trip by a day or two might result in lower price bracket.
If you have annual multitrip travel insurance in place then it will state how many maximum days each trip can be. Make sure you stay within that limit.
Your Health / Pre-Existing Medical Conditions
Your health (or rather the lack of it) can significantly affect the price of your international travel insurance quote. You must declare all pre-existing medical conditions when buying your travel insurance. They can be either excluded or included, but then the price of your travel insurance will go up accordingly... often considerably.
Pre-existing medical condition is any illness or condition that you were suffering from when you bought the travel insurance, or had suffered from previously. Heart conditions, diabetes and cancer are all pre-existing medical conditions that can affect the cost or eligibility of coverage.
Remember, you are not covered if a pre-existing medical condition flares up and you did not declare it... it is as simple as that.
The Extend Of Your Cover, The Amount Covered And Your Excess Level
What you choose to cover, the covered amount and your excess level have also significant affect on the price of your international travel insurance quote. The rules are...
- The more you cover
- The higher the covered amount is
- The lower the excess level
... the higher the price you have to pay for your travel insurance.
What you cover and for how much will depend on how much risk you are willing to take. The same applies about the excess level. Choose carefully, saving few dollars on your international travel insurance quote is not always worth it in the end.
Tips On Saving Money On Travel Insurance will help you to find the cheapest international travel insurance quote for your travel needs.
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