Tips to Decrease Your Travel Insurance Premiums

Tips to Decrease Your travel Insurance Premiums

One night in a hospital in USA can easily result in over $10,000. There are many cases where people were treated abroad and afterwards received six-digits medical bills. Obviously such issues as a stolen laptop or video camera can be quite costly as well. Bottom line: Travel Insurance is important and we collected several tips how you can reduce your travel insurance costs! Hopefully you will find some of those handy We created a long list of travel insurance tips to help you to save on travel insurance! So, let’s start!

1. Compare and shop around: Search, Compare, and switch insurance companies. There are many insurance providers and their price offerings for the same policies can be very different, therefore use multiple online tools and talk to several brokers since each will cover a limited number of insurance companies.

2. Leverage credit card features: Not sure if you need to buy a Flight Delay, Trip Interruption/Cancellation and Baggage Loss – check out your credit cards, sometimes you will be surprised what you will find.

3. Check your credit card for Travel Medical: Check your credit cards – one or two may already have Travel Medical Protection, both for you and sometimes for your family members too.

4. Multi-trip travel insurance: If you travel several times a year, it often makes sense to take a multi-trip insurance policy as opposed to getting every time single-trip policy.

5. Family travel insurance: If you travel as a family, it sometimes makes sense to buy a family travel insurance policy rather than buying a separate plan for each member of the family.

6. Your Home Insurance may already include liability: Thinking to buy an extra Umbrella / Liability insurance for your trip e.g. in case you hit somebody when skiing? Your Home Insurance might already have a worldwide umbrella protection – check the policy or ask your broker / insurance provider.

7. Burglary insurance: Some credit cards offer this kind of protection if some of your personal belongings disappear from your Hotel or motel. Don’t forget to pay for your trip and hotel stay with a credit card that offers this protection. Attention: your protection may extend to USA but not necessary to other countries e.g. Mexico.

We hope that you will never need to make use of your travel insurance ?have a safe trip!

Alexey Saltykov is a co-founder and managing director of InsurEye Inc, a Canadian company that provides online tools for consumers to educate them about insurance, create transparency in insurance market place in Canada. We also connect consumer with and , and all across Canada.

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