YOU ASK:

Where can I find low cost travel insurance?

WE ANSWER:

There are many places where you can get low cost travel insurance. The internet allows you the ability to compare from among the many travel insurance providers and their various products. In fact, you can slash off up to 75% of the premiums if you buy online as compared to what it will cost you if you bought the same product through an agent.

Here are some steps you can follow to lower the cost of travel insurance:

  • Review the insurance cover you already have. You may already be covered for some items.
  • Check whether your credit card offers some form of travel insurance. Other potential sources you could look into would be social organizations (like the Rotary or the Lion's Club) where you belong, and even your employer.
  • If your travel is for business, you can also check to see whether your employer is providing travel insurance for you.
  • When you already know the travel-related insurance coverage you already have, you can remove this from the product you plan to buy so that this would help lower the cost of the premium.
  • What you can do next is to go to travel insurance comparison sites that provide access to more than one travel insurance provider. This will help you determine just how much the different plan types cost. Once you have selected some products, you can get quotes for these. Then, after you have compared the products in your short list, you can select the best option.
  • Also, once you know from which travel insurance provider you want, you can also try to buy it directly from the company, and not from the agent. This is because travel agents will naturally get their commission for selling the product. Once you have contacted the insurance company, be sure to request for the lowest rates.

Yes, there are a lot of low cost travel insurance products available! However, one must remember that cheap is not always the best. What you should try to get is something that fits your travel needs without necessarily breaking your budget. Although you can readily buy low cost travel insurance, you must check to see whether it provides you with adequate cover, at adequate maximum amounts for each benefit.

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