Have you ever noticed when booking a vacation you’re almost always offered the opportunity to buy travel insurance? It doesn’t matter if you’re buying direct from the airline or through an online travel agent, you can easily tack on the price of the travel insurance premium to your trip purchase. It sure is convenient, but is it a good deal?
A quick comparison shows that often you’re paying a hefty premium for this convenience.
Take a look at the prices quoted for an emergency medical travel insurance policy for a single 40-year old, travelling Friday to Friday (for a total of 8 days):
Quotes obtained for an emergency medical travel insurance policy for an individual travelling to the U.S.*
Kanetix.ca
Financial Institution
Airline
Online Travel Agent
$15.00
$25.06
$30.00
$36.00
The range in rates is more than double.
If you take a look at family plans, the difference in price is even more pronounced:
Quotes obtained for an emergency medical travel insurance policy for a family of four; 2 adults and 2 children*
Kanetix.ca
Financial Institution
Airline
Online Travel Agent
$29.00
$56.39
$116.00
$144.00
Why the wide range in rates?
When you buy coverage at the same time you book your vacation package or flight, you are generally not offered money-saving coverage or deductible options. Instead, you'll be offered a one-size fits all policy often with an unlimited coverage amount.
Through Kanetix, you can opt to buy $2 million, $5 million or even $10 million in emergency medical coverage. Realistically $2 million is likely more than sufficient, but many people fear not having enough and opt for $5 or $10 million. Even so, these higher limits are still often less expensive then purchasing a one-size fits all, unlimited coverage, policy.
In no time, you can shop, compare and save
Why pay more than you have to for your travel insurance coverage? See if you can cut your travel insurance premium in half. Compare and buy travel insurance using the Kanetix.ca travel insurance shopping service today!
Looking for more information about travel insurance? Don’t forget to:
*The basic medical plan, and corresponding rate, was pulled from the websites of a major Canadian financial institution, airline, online travel agent, and Kanetix.ca - an online quote comparison service. In each case, the lowest price is published and is accurate as of February 19, 2010 but may be subject to change at any time.
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