Top best travel insurance options – Cheapest Travel Insurance Plans

Looking for the cheapest travel insurance plans of 2023? You’re in luck. Today, we’re going to highlight the best cheap travel insurance plans that won’t force you to compromise on coverage. You can still enjoy peace of mind and protection at affordable rates that work for you.

Many travelers ask “what’s the best cheap travel insurance plan”, but they also worry they will need to sacrifice the important coverages or use an untrustworthy company. But with the right strategy, there are many plans with great coverage that will protect your money and keep you safe.

We’re going to unveil the cheapest travel insurance plans for those who only need trip cancellation coverage, but we’ll also share a few cheap travel insurance plans for those seeking comprehensive coverage – including COVID coverage and other medical coverage, evacuation, delays, and much, much more. By the end of this in-depth breakdown, you’ll feel more confident in choosing the right cheap travel insurance company for your upcoming adventure or work trip. First things first – some basic information on travel insurance coverage.

Why You Need Some Form Of Travel Insurance

While you may be looking to save a few bucks, you still need at least some form of travel insurance. Why? Because you will enjoy peace of mind along your trip knowing the money spent on your trip is covered. You’ll also find comfort knowing any medical bills that arise on your trip are covered, too. These are the most common reasons for buying travel insurance, and there are several budget-minded plans that cover these:

  • Reimbursement for trip costs if you need to cancel
  • Payment for emergency medical care abroad
  • Covering the expenses for a costly medical evacuation
  • Lost, stolen, or damaged baggage
  • Reimburses extra expenses for travel delays

What Coverage Will You Sacrifice With A Cheap Travel Insurance Plan?

To keep the costs lower for budget-minded travelers, cheap travel insurance companies need to reduce their risk by reducing coverage. They do this by removing some specific coverages, or they reduce the amount of coverage. Here are some examples of how the different travel insurance companies keep the cost lower:

  • The emergency medical limit will be lower
  • Medical coverage will be Secondary vs Primary (more below)
  • Trip interruption coverage will be 100-125% instead of 150%
  • Cancel For Any Reason might not be available
  • Lower coverage for baggage, delays, baggage delays

There is nothing wrong with going with cheaper travel insurance companies or plans. Just you know that you aren’t getting the top rated travel insurance. It is important that you read the details of your coverage to understand what exactly you’re getting – and what you’re not getting. With all that said, let’s get into the main topic at hand today – the cheapest travel insurance companies and plans currently available that still offer great coverage for your needs. We’ll kick our list off with the best cheap travel insurance plan for trip cancellation only.

Cheapest travel insurance plan for trip cancellation only

This is the best plan if you only want coverage for canceled trips. There is no coverage for medical emergencies, evacuation, baggage, or delays. All recommended plans are from A.M.Best Rated reputable companies that specialize in travel insurance.

Covid covered for sickness cancellation

Weather coverage triggers after delay of amy length, which is good vs plans with 6-48 hour time trigger
Very budget-friendly, sample quote below comes in at less than 3% of trip cost
Great for: This plan is perfect if you simply want coverage for your trip costs. If you are staying domestic, travel medical is not as much of a concern, and you can accept the risk for baggage or delays.
Example quote $130 (includes all travelers): For the above plan, the example trip includes 2 travelers (45, 45) on a two-week trip, with a total trip cost of $5,000).

Best cheap travel insurance plans with comprehensive coverage

Trip cancellation may not be enough to grant you peace of mind along your travels. If you really want to enjoy your trip without the worry in the back of your mind, you want travel medical insurance among other forms of coverage too. As you can probably imagine, these types of travel insurance plans are more expensive than the aforementioned trip cancellation-only plan. With that said, they are still very affordable. And obviously, you get more coverage, too.

Comprehensive travel insurance covers cancellation, interruption, emergency medical, evacuation, baggage, and delays. These plans offer the well-rounded coverage of travel insurance, but with lower coverage limits and fewer features for budget-minded travelers.

Leave a Reply

Your email address will not be published. Required fields are marked *